73rd Edition

This week in The Flippening, TL;DR

• Retail investment in Bitcoin reaches record levels
• Ethereum's got its Visa- and it's going places
• Crypto's starting to go green- and not just on the market

Top Highlights of the Week

1. Everyone wants a bite of Bitcoin

According to Glassnode, share of retail investment in Bitcoin is at an all-time high. Currently, 17% of Bitcoin's circulating supply, which amounts to about 3.2 million Bitcoins, is held by retail investors. Even as recently as 2020, less than 12% of Bitcoin's total supply was held by the retail crowd. Glassnode's definition of a retail investor is someone who holds less than 10 BTC, which adds up to about $1,69,000 today.

Our takeaway: 17% retail adoption for a deflationary asset with limited supply is no mean feat. While the figures could be better, the steep increase in retail investments from 2020 to 2022 is certainly promising. And as crypto enthusiasts, it's heartening to know that we are moving in the right direction.

2. Visa and Ethereum sitting in a tree...

Visa, the global payments giant has released a paper outlining how Ethereum users could automate payments from their wallets with Visa's support. This feature is not currently available on the Ethereum network and would allow user accounts to function like smart contracts to execute pre-scheduled payments.

Our takeaway: Visa has recently been making big strides in the crypto world, and it doesn't seem to want to slow down. While automated crypto payments might not make a huge impact on the overall finance landscape, Visa's intention is clear- it sees crypto as a long-term bet and it wants to be a major player in the space.

3. Carbon footprint- size small, please

2022 witnessed the growth of crypto projects focusing on sustainability. Among the biggest eco-friendly efforts was Ethereum's Merge, which transitioned the blockchain to a less power-hungry consensus mechanism called proof-of-stake (PoS). Other crypto projects that have made noteworthy efforts to become sustainable are Chia Network, Algorand, Solana, and Avalanche.

Our takeaway: People are starting to realize just how serious a threat climate change actually poses. And the world is turning toward sustainable solutions across the board. The developments seen in crypto this year are a great sign and show that the community cares about its users' opinions and values.

• Bitcoin mining company files for bankruptcy, citing high costs and low Bitcoin prices. Emphasis on low BTC prices; every dark cloud has a silver lining.
• Binance assures investors of financial health in statement, says "will not be destroyed by a tweet." They're certainly not low on confidence, that's for sure!
• Hong Kong firm co-founded by legislator hopes to attract 1000 Web3 start-ups to the city. Everyone wants to be a crypto hub, eh?
• CoinShares switches stock listing to Nasdaq Stockholm's main market. Moving on to greener pastures.
  

Disclaimer: All price movements are recorded up to 03:30 PM UTC, 23rd Dec 2022

The crypto market does not seem to be in a festive mood. With trading activity decreasing, crypto seems to be copying the movement in stocks.

Disclaimer: All price movements are recorded up to 03:30 PM UTC, 23rd Dec 2022

A surprising result for the sectors compared to the individual cryptos. Almost all of the sectors ended the week in green.

Coin of the week 💸

USD Circle: $USDC

It is a good time to take a pause and hold your horses. Just like the entire year, the past week has largely remained volatile. The second largest stablecoin is our pick for the coin of the week.

Featured: Mudrex Coin Set 😎

It has been a crazy year for the crypto market. Trading volumes have subsided, thanks to the institutional players taking a break. The noise has reduced It has also resulted in determining a fair valuation for different sectors.

It is a good time of the year to begin a regular investing habit for the upcoming year. 'Exchanges' as sector has priced in the noise in the market, and can be a potentially strong investment.

Best Exchanges is a crypto basket by Mudrex that comprises of the largest exchange tokens in the crypto ecosystem.

Click to invest in Best Exchanges

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