Crypto This Week 11/07 – 11/13 (Market, ETH…)

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2022-01-13 11:10:21

Market Perspective

Hello everyone, and very sorry for the delay in today’s newsletter due to some personal reasons.

Let’s take a look at the market last week, it’s clear, it’s hot again. News about Bitcoin adoption, announcements about investments in the crypto space or outstanding price increases when there are updates on Altcoins… Well, the next phase of growth is coming. Looks like it’s starting. And do you feel the greed inside you is also rising?

Greed is something that is hard to recognize and control. But conversely it is also one of the main driving forces to promote the market to develop more, right people?

So what will I share with everyone this week, when there is so much good information and greed in the community is gradually rising. To be honest with everyone, it’s hard to find something valuable and share it with the community from an objective point of view, but that’s not why I don’t stop learning, searching, and sharing it with others. everyone. This is already the 90th article in this series.

This week I will give a really very good perspective to strengthen your faith as you are participating in this crypto space.

This is a thought from “Chris Dixon” – a veteran internet investor and shared by Ryan Sean Adams, Co-Founder of Bankless.

“I think blockspace is the best product to sell in the 2020s”

– Chris Dixon

What does this mean?, it means that Blockspace is literally the best product of the next decade.

Sometimes people forget what blockchain is selling.

So what is so special about blockchain blocks?

They are the global bank ledger. They are the property of Metaverse. They are the economy of digital nations as well as a trusted anchor of digital civilization.

If all of that sounds too abstract to you, take a look at the concrete numbers below. This is the volume of last week’s block sales in the crypto market, source provided by cryptofees.info.

Numbers don’t lie and at the moment the market is taking the block space seriously.

Looking at the image above, you can see that Ethereum is the most valuable block space by far. The value of layer 1 assets based on block sales, ETH already accounts for more than 91% of all Layer 1 Blockchains.

You must carefully remember that: blockchain’s purpose is to make its block space more valuable. Without valuable block space, a chain is not sustainable.

A company whose costs exceed product sales is not sustainable in the long run. The same goes for blockchain chains. A chain whose issuance exceeds its block sales is not sustainable in the long run.

In view of the above, the Solana Network had $100 million in release costs last week versus just $40K worth of sales. That means the network is at a net loss of 99.96%. This can’t last forever — to be sustainable, Solana must increase sales of its blocks to balance the network’s value.

But how to increase sales of blocks while reducing transaction fees?

A difficult question to answer, but Ryan offers an interesting comparison to this. The Kardashev scale is what is being talked about here. It is a method of measuring the development of a civilization (not too strange for many science fiction enthusiasts).

According to the Kardashev scale, our civilization is below level 1, specifically by 2030 it will reach 0.73 according to the calculation formula and we have taken advantage of 22% of the earth’s energy reserves.

Going back to Blockchain blockchains, blockchains also evolve in three stages — call this the Polynya scale – Polynya scale.

According to what is stated above, almost all blockchains at the moment are in group 1 and Ethereum can be considered to be in group 2.

The path to scalability is the future of being 3rd party, but most blockchains will never get there. (The winner takes all principle).

Blockspace is the new oil of the next decade.

However, not all blockchains appear to be the same even though they are all in a bull run.

Always like that, Investing is never an easy thing, people.

Next Week Events

Notable events for everyone next week:

  • November 7 – November 10: Breakpoint is the event that brings together industry leaders to celebrate the Solana community and they come together to discuss the innovations the industry is bound to see in the near future.

  • 11/10 – 11/11: DeFi Live is a two-day event, held live in London and streamed to virtually any global audience. Featuring over 40 brightest minds from the hottest projects to speak in depth on the most important topics related to Crypto, DeFi, NFTs, DAOs and Metaverse..

Below are notable news from the projects:

These are the important information in the coming week, hope that the information I provide in this article will help everyone.

Hello everyone and have a great weekend.

► Join the support team and the most prestigious Exchanges with exclusive deals with CHK

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#Crypto #Week #Market #ETH

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