CryptoDigest. 13.12


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A significant event for the cryptosphere was the increase in the supply of the first cryptocurrency. According to Blockchain.com estimates, miners have already mined about 90% of BTC – 18.899 million coins to be exact. They must present the last bitcoin to the world in February 2140. However, many experts believe that this will happen earlier, because more and more “miners” are connected to the network, and more and more productive equipment is entering the market.

The situation in the spot and derivatives markets is also of great importance for the cryptoindustry. Therefore, in today’s digest, we will assess the prospects for the so-called “Santa Claus Rally” – Christmas excitement and growth in the cryptocurrency market.

We will not ignore the example of Solana, an important and interesting for the entire industry – this network is successfully developing, despite the recent DDoS attack and the September attack by hackers. Over the past month, the number of applications for the launch of services based on Solana has sharply increased on the GitHub portal. In this respect, SOL is already ahead of Cardano and Polkadot.

Whales go to the cache?

The crypto market starts the new week in the red zone: almost all the largest coins, including bitcoin, suffer losses.

By Monday evening, BTC fell to $ 47,686, its capitalization decreased by 4.00% – to $ 904.404 billion. Ether (ETH) and Binance Coin (BNB) fell in price to $ 3,878 and $ 531.

Cardano (ADA) suffered the largest losses from the TOP-10: it rolled back almost 6%, to $ 1.26. Solana (SOL), XRP and Polkadot (DOT) fell to $ 161, $ 0.8002 and $ 26.71, respectively. Cryptocurrency market capitalization fell to $ 2.18 trillion (-4.01%).

Meanwhile, CryptoQuant analysts are recording a surge in whale activity on exchanges. The volume of purchases of stablecoins has sharply increased – almost to record levels. After analyzing the collected data, the researchers came to a disappointing conclusion: some large investors go to the cash. It is possible that the Bitcoin rollback will continue – at least this week.

Bitcoin bulls remain optimistic

Despite the market crash in early December, loyal BTC fans are generally optimistic.

The OKEx Insights report notes that the fall in bitcoin broke the aggressive trend, but not all investors reoriented to the decline in the asset. In quarterly futures with expiration dates at the end of December, the price of the first cryptocurrency is indicated in the region of $ 48,526. This indicates traders’ doubts about BTC’s ability to end the year at values ‚Äč‚Äčabove $ 50,000- $ 52,000.

The ratio of long and short positions last week temporarily fell below one. Consequently, today many players are guided by a short-term distance in order to be able to quickly sell an asset with minimal losses.

As you can see, the bullish sentiment has weakened, but it would be unwise to write off the bulls. Optimism has a place in the market. And therefore, at the end of last week, the ratio of long and short positions began to grow: some investors again switch to long-term contracts in the expectation of a quick rebound and a subsequent rise in the value of bitcoin.

Five-year plan in three years?

By mid-December, miners managed to mine 90% of the total number of bitcoins. According to the Blockchain.com service, we are talking about 18.899 million coins, and in total they will be able to mine 21 million BTC.

The first bitcoins are dated January 2009. It is believed that the last coins will be mined by miners by February 2140, but many experts believe that this process will be completed earlier. There is logic in their assessments, since the power of the network is constantly growing, and more and more efficient equipment is connected to it. Bitcoin hashrate today exceeded 180.5 exahsh per second (EH / s).

Curious data were presented by analysts of Chainalysis. It turns out that 3.7 million BTC are lost forever – due to the death of their owners or the loss of access to wallets. At the same time, 1 million bitcoins belong to Satoshi Nakamoto, the legendary creator of the cryptocurrency.

Solana in trend

Solana Network (SOL) ranks among the largest blockchains. Santiment data shows the rapid pace of development of this ecosystem. The growth in the number of applications for the launch of SOL-based services on the GitHub portal testifies to the same.

Moreover, in terms of the number of applications, Solana over the past month has outstripped even its closest competitors – Cardano and Polkadot: 90 versus 76 for Polkadot and 65 for Cardano. Even the recent hacker attack on Solana has not had a negative impact on the growth of the ecosystem’s attractiveness.

This blockchain is used to deploy smart contracts. The ecosystem is considered one of the “killers” of Ethereum, since today it is actively pulling projects onto its blockchain, representing both the DeFi decentralized financing market and the NFT ecosystem.

Sources: Santiment, CoinMarketCap, CoinTelegraph, Blockchain.com, OKEx Insights, CryptoQuant, CoinDesk

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