🔔 Vitalik Buterin: the market needs futures on gas
Vitalik says that currently the fees in Ethereum are low, but no one knows for sure what they will be in a couple of years. He proposes to create a futures market on gas, where people will be able to:
⚪️Find out what the market expects from future fees. ⚪️Hedge against their increase, ⚪️Prepay for gas for a certain period.
So it will be like a "prediction" and a hedge for future gas expenses. Soon we will be longing gas at $ETH ? #бутерин
Everyone is used to evaluating crypto by market cap, but if you look at the actual revenue that projects generate, the picture changes completely:
⚪️$SOL — the main revenue generator in the industry. Priority fees, MEV, perps, NFT, tokens, Firedancer, mobile — provides 35–45% of real revenue, having only 5–7% of the total market capitalization.
⚪️$ETH (+ L2) still produces a huge economic effect, but after L2 compression its dominance in fees is no longer the same: 25–35% of revenue with 15–20% mCap.
⚪️$BTC occupies 50%+ of the market by capitalization, but only provides 2–5% of revenues — logically: it is a monetary asset, not a business. But this clearly shows how misleading market cap comparisons can be.
⚪️All others (AVAX, BNB, Tron, Cosmos, meme coins, DeFi) share only 15–25% of the revenue.
If we look at the economy, the hierarchy is currently as follows:
Looking at the sales chart $BTC by regions, an interesting picture emerges:
Since the beginning of November, all regions — the USA, Europe, and Asia — are selling $BTC more than they are buying, although before that stable purchases were clearly visible.
In the last week, there has been a slight buyback from the USA and Europe (which coincides with the V-shape on Bitcoin), while Asia continues to maintain sales volume.
Tom Lee: a third of the market makers have disappeared 😱
"On October 10, the crypto market experienced an 'Armageddon' and recorded the largest wave of liquidations in BTC history: nearly 2 million accounts were wiped out, and a third of the market makers disappeared from the market."
By the way, Tom Lee has already changed his stance and now predicts $100k+ instead of $250k by the end of the year for $BTC . #TomLee
The ratio of long to short positions on Binance has risen to 3.8 — a maximum in more than three years.
The Block metric accounts for the balance of the 20% largest users. Just over a month ago, when $BTC reached an all-time high above $126,000, this ratio was at a multi-year low below 0.6.
Chanpen Zhao denied rumors about the preparation for the release of the new documentary film from Netflix "Crypto Kingpin," in which he will be played by Jackie Chan.
"How did this go viral? It's a lie. I like Jackie Chan, but he is 71 years old. Let him rest!" #cz #Binance
Throughout this cycle, a very strong correlation can be seen between the stocks $MSTR and $BTC : MSTR leads, while $BTC follows it.
This clearly demonstrates how in recent years the buybacks of DAT companies have directly influenced the price of $BTC and that they are indeed the main driver of growth.
The weekends passed relatively calmly for crypto: Bitcoin had a good rebound from 80 to 88k after that accelerated drop, which was logical, as it is impossible to keep falling at such a pace.
Along with Bitcoin, altcoins also rebounded well, where it was possible to take 15–25% movement on many coins.
Most likely, globally, until mid-January, we will continue to be in a downward trend with similar rebounds, as the decision by MSCI on DAT companies is expected on January 15.
Yesterday we reached the target of 80k — a level that was achieved very quickly and unexpectedly. As the movement accelerates each day, this is clearly visible in the dynamics: while it took about 14 days to fall from 100k to 90k, we fell from 90k to 80k literally in 2–3 days.
Therefore, it's logical that we had such a strong rebound from 80k to 84k in a short period of time.
If we look at the statistics, crypto holders are currently facing the largest realized losses of $BTC since the FTX collapse, and November has become a record month for net outflows from spot ETFs in history — about $3.55 billion. And the month is not over yet.