In 2022, the crypto community rose to new heights — and then it crashed. We famous this as early as June 2022, earlier than the FTX fiasco (which we’re utilizing because the catchall time period for the crash, alleged fraud, chapter, congressional listening to, Sam Bankman-Fried‘s arrest within the Bahamas, the decision for his extradition, etc.).
However, this isn’t alleged to be an article chronicling FTX’s downfall from the previous year — it’s a recap of our 2022 crypto coverage, which may be seen as a Jacquelyn Melinek highlights reel with a function from Alex Wilhelm.
Here’s a few of our top 2022 crypto protection:
Terra group passes proposal to revive LUNA cryptocurrency following stablecoin-led implosion
In May, LUNA nosedived, and the market adopted go nicely with. Terraform Labs founder Do Kwon shared a plan to revive the Terra Ecosystem, including the formation of a brand new blockchain. Jacquelyn famous: “The launch of LUNA 2.0 shall be a test of whether or not the group is as strong because it says it’s. But many are wary of trusting Kwon and the Terra staff again after the LUNA and UST downfall.”
Ethereum drops greater than 17% after ‘way overhyped’ Merge
In early to mid-September, whispers of “the Merge” have been in all places we turned an ear. A quick refresher: The Merge was a highly anticipated event the place Ethereum shifted from proof-of-work to proof-of-stake. It could have been overhyped.
Blue-chip NFT homeowners explore alternative uses as gross sales decline
During the most recent crypto bull market, the NFT subsector also rose to new heights. As NFT gross sales slowed, blue-chip NFT holders began in search of new ways to revenue. For the uninitiated: The term “blue-chip NFTs” derives from “blue-chip stocks,” which often check with probably the most valuable firms in the marketplace. In this case, they’re essentially the most fascinating or high-value NFTs. What are they worth amid crypto winter?
Terra’s UST crash will make life harder for crypto as regulation looms
In May 2022, Terra UST crashed, which led to a push for crypto regulation. “UST is an algorithmic stablecoin primarily backed by its sister cryptocurrency, LUNA, but was also backed by bitcoin. Founder Do Kwon previously advised TechCrunch that plans had been in place to again it with other cryptocurrencies over time. It’s unclear if that street map is still in place for UST because it tries to recuperate from its downfall,” Jacquelyn wrote. To regain the belief of traders and holders, the next transfer could be regulation … right?
Making sense of OpenSea at a $13B valuation
At the beginning of 2022, OpenSea raised a $300 million spherical at a $13.3 billion valuation. Alex did a deep dive to determine how the model new (in January 2022) OpenSea valuation squared up with its revenues. You can comply with along with Alex’s collection of information and computations to find out whether or not the company is underpriced or overpriced.