At the end of 2021, countless people believed that a handful of smart contract platform tokens, often referred to as “Ethereum killers,” would upend the second largest crypto asset by market cap in 2022. As 2022 draws to a close, Stats show that none of the so-called ‘Ethereum killers’ has surpassed the leading token for the smart contract platform, and a number of these tokens have lost significant amounts of value during the crypto winter.
Ethereum outperforms its competitors in terms of market cap, decentralized financial procedures, and non-fungible token sales.
On December 23, 2021, the best smart contract platform coins held an overall valuation of approx 823 billion dollars And at that time, ethereum (ETH) the market capitalization represents 59.42% of the total. today in December 30, 2022the smart contract platform base coins in the crypto economy is valued at $239 billion, and ETHThe company has a market capitalization of approximately $144 billion. The data indicates that ETHThe market cap equals 60.25% of the total value of all smart contract platform tokens listed today.
In the past year, when the currency economy of the smart contract platform was more valuable, many people thought ETH It can “flip” with a set of “Ethereum killersAlmost a year ago, a Forkast post published a editorial Called “The Top Five Ethereum Killers,” it included tokens like BNBSolana (SOL), Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT). While some of these coins were among the top ten contenders in December 2021, only BNB And the ADA It remains, and Polygon (MATIC) recently entered the top ten.
employment December 24, 2021And the BNB Hands were exchanged for $547.12 per unit, and it was the second largest smart contract platform coin at the time. Today, it is still the second largest smart contract platform token, but the value of the digital currency has declined by 55.19% from the $547 price point recorded in December 2021. Last year, Solana (SOL) was the third largest smart contract platform token and over more than From a year ago, it was trading for $189.43 per unit at the end of December 2021. Today, SOL has the seventh largest market capitalization of a smart contract currency, and SOL holds the 19th largest by capitalization in the entire cryptocurrency economy.
Metrics show that the smart contract coin SOL has lost 94.81% of its value in USD since December 23, 2021. Cardano (ADA) the fourth largest smart contract asset and on December 23, 2021 f ADA It traded at $1.48 per unit. ADA It was also the seventh largest market cap in the entire cryptocurrency economy. Today, on December 30, 2022, Cardano is trading at $0.24 per coin and has moved to the ninth largest valuation in the market. On December 23, 2021, LUNA from Terra was the 5th largest smart contract coin at the time, LUNA (now called LUNC) was trading for $93.24 per coin. LUNA was also the ninth largest market cap in the entire crypto economy during the last month of 2021.
LUNA price has been completely obliterated, and is now down to $0.000140 per unit on December 30, 2022. Polkadot (DOT) was the sixth largest smart contract token; Today, he moved to the fifth position. However, last year DOT was the 10th largest cryptocurrency market cap, but now DOT is the 13th largest by volume. At the time, DOT was trading for $29.39 per unit on December 23, 2021, but today, DOT is down 85.30% and is trading for $4.32 per coin. Avalanche (AVAX) was the 7th largest smart contract coin, but today, AVAX is ranked 8th. On December 23, 2021, AVAX exchanged hands for $121.88 per coin and on December 30, 2022, the price dropped to $10.83 per unit.
Finally, Polygon was the seventh largest smart contract coin last year, but today it is in the fourth largest smart contract token position. Moreover, Polygon (MATIC) was the 14th largest overall in December 2021, and today it managed to enter the 10th position. MATIC traded for $2.67 per coin last year and today, it’s down to $0.75 per unit, which is a loss of about 71.91%. While none of the so-called ‘Ethereum killers’ managed to strike ETH down the notch, ETH It has lost some of its dominance since December 23, 2021. At that time, ETH The dominance was around 19.5% and today the dominance of the second crypto asset has dropped to 17.4%.
What do you think about the so-called “Ethereum killers” and their market performance in 2022? Tell us your thoughts on this topic in the comments section below.
Jamie Redman is the Chief News Officer at Bitcoin.com News and a financial and technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.
Image credits: shutterstock, pixabay, wikicommons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com It does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
New research suggests that baby boomers make better crypto investors
1 month ago
December 31, 2022
As a millennial, this is hard to say, but baby boomers do the coding better. They’re taking research methods used in traditional markets and applying them to crypto projects, according to a new report from Bybit and consumer research firm Toluna.
The report says that 34% of Boomers spend “a few days” doing due diligence on a project before investing – 50% more than other generations. Even more troubling, “64% of North American investors spend less than two hours or not at all on DYOR.”
Boomers are also likely to focus their research on technical factors such as tokens, revenue, and the competitive landscape. Contrast this with their younger compatriots, who are more likely to appreciate reputation items like a charismatic founder and “website aesthetics.”
This goes to show that being a digital and hands-on native is not as much of an advantage as people think. It actually pales in comparison to some of the Warren Buffet-style skills that older investors have honed over the years.
Baby boomers are probably more likely to retire and therefore have more free time than younger generations. It’s hard to say, but it seems the best way forward for young people is to be humble and learn from their elders.
Although crypto has many distinct characteristics that set it apart from other capital markets, it still has enough in common to allow for a decent crossover in analytical skills. After all, the price of digital assets is highly dependent on the balance of supply and demand in the market, just like the traditional markets.
Digging in Technologies This can prevent the kind of bad decision making that led to big losses in 2022. Several times I felt good about buying a token based on the project white paper and the solid narrative that drove it, but I found, upon further research, that there is a lot of capital involved. The investment unleashes imports so that selling pressure will influence prices for years to come.
Newborns who are used to analyzing company numbers and calculating price-to-earnings and price-earnings-to-growth ratios can apply these skills to data from CoinGecko or CoinMarketCap. Young generations need to know why “circulating supply” vs. “maximum supply” important and why size is critical.
In fact, cryptocurrency projects that are similar to traditional value investments have held up relatively well in the bear market. Investors are becoming more aware of the difference between protocols that issue tokens as a glorious way to raise funds and those that generate revenue and share it with their holders. So-called “real-yield” crypto projects are not unlike dividend-paying companies — something boom investors may be familiar with and possibly drive some of their investment decisions.
This is not to ignore the importance of narrative and community in modern investing and cryptocurrency in particular. For example, perennial decentralized trading platforms such as GMX, Gains, and ApeX Pro benefited from the pro-decentralization sentiment after the FTX bankruptcy.
Researching this aspect requires a good knowledge of social media, especially Twitter, which is one of the main ways to reach crypto analysts, founders, and downstreamers. Investors use these tools to find the narrative, assess where the narrative is in its life cycle, and gauge overall market sentiment.
But Millennials and Generation Z don’t really have an edge when it comes to using social media to assess trends because it’s not that new anymore. it’s a Web 2Everyone already knows how to use social media. In fact, young adults are turning their familiarity with social media into a disadvantage by overestimating it as a research tool, while baby boomers are more likely to stick to the facts.
Traditional investing due diligence continues to distinguish men from boys, just as it has throughout history. As long as that happens, baby boomers will outpace the younger generations because they do more research and tend to be more patient when it comes to investing, resulting in higher returns than the younger generations, who may jump into investing without fully understanding what they are getting into. If you are looking for someone who is reliable and knowledgeable about due diligence, look no further than your parents or grandparents.
Nathan Thompson He is the lead technical writer at Bybit. He spent 10 years as a freelance journalist, covering mostly Southeast Asia, before turning to cryptocurrency during the COVID-19 lockdowns. He holds a Joint Honors degree in Communication and Philosophy from Cardiff University.
This article is for general information purposes and is not intended and should not be considered legal or investment advice. The views, ideas and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Bitcoin investor sentiment remains steady with BTC stalling at $16,000
1 month ago
December 31, 2022
Bitcoin investor sentiment is deadlocked amid price faltering in the market. While the digital asset continues to hold the $16,000 level, investors retreat from the market, ensuring that there is no big move either up or down, and as a result, investor sentiment has not moved.
Bitcoin investors are still in fear
the Encryption of fear and greed It shows that Bitcoin investor sentiment has not moved much in the past month. He finished November with a score of 29 which put him right in the fright zone but since then he has been unable to break out of that trend.
The score in this indicator over the course of December ranged between 26-30 mostly, maintaining an almost straight line trend over the period. So far, the Fear and Greed Index is at a score of 28 which is up one point from last week’s close of 27.
Fear & Greed Index trends in an almost straight line | Source: alternative.me
What this trend in the Fear and Greed Index shows is that bitcoin investors are not willing to take any risk. This is why the indicator could not move into the greed zone. On the flip side, selling sentiment has not been as strong as one would expect during a time like this. If investors were to sell more of their bitcoins, it would be obvious given that the index would slide further. Instead, it continues to maintain a roughly consistent point level, which means that the hold sentiment is now dominating the market.
Will BTC See A Recovery Soon?
Bitcoin is still finding it difficult to regain the momentum it lost over the past month. This reluctance on the part of investors to do anything with the tokens has led to the price of the digital asset following the same path as sentiment. BTC has now refused to break out from the $16,000 price level.
As a result, Bitcoin’s volatility dropped to all-time lows. So it is likely that the last two days of 2022 will follow the same trend. A recovery should not be expected in any way as the momentum will continue to decline as people take a break from the markets to celebrate with family.
Instead, it is important that BTC holds above $16,000 to close the year. Anything below this level would be very bearish and could lead to more declines in the market as the bears take control. But finishing above $16,000 strengthens investors’ resolve to hold on to their coins.
BTC is trading at $16,519 at the time of writing. Its price has decreased by 0.43% in the last 24 hours and 2.01% in the last 7 days.
Featured image by Finbold, chart from TradingView.com
Valkyrie proposes to run GBTC – Bitcoin’s grayscale magazine
1 month ago
December 31, 2022
Valkyrie Investments has submitted a proposal to take over the troubled GBTC Bitcoin trust.
“We understand that Grayscale has played an important role in the development and growth of the Bitcoin ecosystem with the launch of GBTC, and we respect the team and the work they put in,” said Stephen McClurg, Valkyrie co-founder and CIO. In a statement posted on the company’s website. “However, in light of recent events involving Grayscale and its family of companies, it is time for a change. Valkyrie is the best GBTC management firm to ensure that its investors are treated fairly.”