In 2022, the encryption Society rose to new heights – and then collapsed. We noticed this early on June 2022And the Before FTX failure (which we use as a catch-all term for Collidealleged ForgeryAnd the bankruptcyAnd the Congressional hearingAnd the Sam Bankman Fried‘s Internment in the Bahamascall for delivery, etc.).
However, this is not meant to be a dating article FTX fall from last year – It is a cryptocurrency coverage feed for 2022, which can also be viewed as a file Jacqueline Melnik Highlights reel with feature out Alex Wilhelm.
Here are some of the best cryptocurrency coverage for 2022:
Terra community passes proposal to revive LUNA cryptocurrency after stablecoin-led implosion
In May, LUNA landed, and the market followed suit. Terraform Labs founder Do Kwon has shared a plan to revive the Terra ecosystem, including forming a new blockchain. Jacqueline noted, “The launch of LUNA 2.0 will be a test of whether the community is as strong as it says it is. But many are afraid to trust Kuhn and Team Terra again after the fall of LUNA and UST.”
Ethereum drops over 17% after ‘hyper’ consolidation
In early and mid-September, whispers of “merge” were everywhere we turned. Quick refresher: the merger was a highly anticipated event as Ethereum transitioned from Proof of Work to Proof of Work Proof of stake. It may have been exaggerated.
Blue chip NFT owners are exploring alternative uses as sales decline
During the latest cryptocurrency bull market, the NFT sub-sector has also risen to new heights. With NFT sales slowing down, major corporate NFT holders are starting to look for new ways to profit. For the uninitiated: the term “blue-chip NFTs” is derived from “blue-chip stocks,” which often refer to the most valuable companies in the market. In this case, they are the most desirable or highly valued type of NFT. What is its value amid the cryptocurrency winter?
The collapse of Terra’s underground reservoirs will make life even more difficult for cryptocurrency as regulations approach
In May 2022, Terra UST crashes, prompting crypto regulation. UST is an algorithmic stablecoin that is primarily backed by its sister cryptocurrency, LUNA, but is also backed by bitcoin. Founder Do Kwon previously told TechCrunch that plans are in place to support it with other cryptocurrencies over time. It’s unclear if it’s a map, Jacqueline wrote. This road is still in place for UST as they try to recover from their collapse.To restore the confidence of traders and owners, the next step would be regulation… right?
OpenSea made sense with a valuation of $13 billion
At the beginning of 2022, OpenSea has raised the bar $300 million, at a valuation of $13.3 billion. Alex did a deep dive to see how the open sea valuation (in January 2022) squared with his revenue. You can follow along with Alex’s collection of data and accounts to determine if the company is undervalued or overvalued.
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