Our Network: Issue #41 (Part 2)
Coverage on Bitcoin, Ethereum, and other L1s.
|Spencer Noon||Oct 2|
Another way to illustrate this effect is to look at the ratio of a long-term supply band over a short-term band. The following chart shows the ratio of supply held for 1-2 years over supply held for 7-30 days. The ratio has historically peaked during periods where price is decreasing or going sideways and hit lows as price peaks. Currently the ratio is at levels similar to January 2016.
The percent of BTC supply held for at least 1 year continues to grow and has had a significant uptick since the March 12th crash. As of September 30th, over 63% of the total BTC supply has been held for at least a year, which is the highest level since 2012.
Simultaneously, the number of addresses holding at least 0.1 BTC has also had a noticeable uptick since March. This suggests that more users may be joining the network as HODLing increases.
Contributor: Griffin Anderson
Ethermint v0.1.0 has been released. A scalable, high-throughput PoS blockchain, fully compatible and interoperable with Ethereum Smart Contracts. (Source: Ethermint Documentation). The repo has already grown to 140 stars and 235 forks.
Binance became the #1 validator on Cosmos Hub with 7.27% of voting power. Community members are noticing a consolidation of voting power among centralized crypto exchanges and top validators. (Source: Cosmo Scan)
The Bonded rate of ATOM’s rose from 63.8% to 63.9%, while inflation rate remained at 7%. As of Oct. 1st, 2.4M ATOM’s are delegated and daily transactions are around 4k+.
The Cosmos Community is also experiencing its own explosion of DeFi activity, as projects look to replicate the success of popular DeFi dApps on other networks. (Source: @hu_zhiwei)