Coinstack
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All things Ethereum, Bitcoin, DeFi, Blockchain, Crypto, and Web 3.0. With analysis of the macro trends and technological innovation as we build the future of money.
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May 18, 2021
May 19, 2021
May 19, 2021
May 19, 2021
May 19, 2021
May 19, 2021
May 20, 2021
Here is a very good and simple explanation of the differences between the technology and monetary supply underpinning Ethereum vs Bitcoin that came out yesterday... Justin Drake makes it simple.

Definitely worth a listen today 🎧

Summary: Bitcoin is a decentralized ledger that can execute simple transactions like keeping track of a balance, like a spreadsheet. Ethereum is a full decentralized computer that can run all types of apps powering the future of finance.

https://podcasts.apple.com/us/podcast/business-breakdowns/id1559120677?i=1000522314009
May 20, 2021
May 20, 2021
May 20, 2021
Analysis: A lot of people lost a lot of money (some on paper, some in reality through futures liquidations) and many regular people got scared and sold their investments and now won't touch crypto for some time to come.

That said, we are still in the middle of an overall bull market structure that I expect to continue into the Fall of 2021. This was just a particularly nasty 45% drop that we are now recovering from. I expect to see new ATHs by July.

It's a sign of market illiquidity that just $2B in net sales can move the BTC market cap by $200B and the ETH market cap by $100B. This happens as exchanges tend to have low liquidity during crisis moments, making prices go a LOT lower than they should, and causing a lot more cascading liquidations than are necessary. ThorChain (RUNE) is working on this issue of cross-chain liquidity as are many others. I very much look forward to the day when $2B in sales barely moves the market.

Let me know if you have any thoughts, further analysis, or questions or know of teams working on solutions to this type of price manipulation.

Please note that I have no evidence of coordination between the ETH dumper and the BTC dumper, however I do hope someone looks into that. This may have been coordination and pre-meditated or it may have been simply been two separate major market actors acting 6 hours apart. I'm writing this to help lay some groundwork for others to look deeper.

Source: Glassnode
Comparison graphs of ETH: Net Transfer Volume to Exchanges and BTC: Net Transfer Volume to Exchanges, with price overlayed

Link to original charts for those with professional Glassnode accounts: https://bit.ly/33ZQV1z
May 20, 2021
May 20, 2021
Yesterday’s Coinstack issue was mentioned on today’s The Breakdown podcast by NLW from minute 5:30 to 7:00 regarding the causes of the May 19 crypto crash👍

https://podcasts.apple.com/us/podcast/the-breakdown/id1438693620#episodeGuid=e64cd4ba-e137-4179-90de-8a895a8ca118

Have a listen 🎧🎧🎧
May 21, 2021
May 22, 2021
What do y’all think about Internet Computer (ICP) so far?

https://internetcomputer.org/

I’m seeing it more and more right now on Crypto Twitter. Backed by A16Z and Polychain. Seems like the platform for the decentralized social web..

Just picked up a small bag ($3k).
May 22, 2021
May 23, 2021
May 23, 2021