Jack Dorsey retires as CEO of Twitter and will be leaving its board sometime in May, with rumors circulating his decision is motivated by his desire to work deeper in the crypto industry.

https://www.theverge.com/2021/11/29/22807651/jack-dorsey-steps-down-twitter-ceo-parag-agrawal-replacement

Avalanche reaches a record of 633k+ total active wallets on the C-Chain.

Almost doubling it’s monthly active wallet addresses from the previous month.

🗞 The weekly Coinstack newsletter is out: https://coinstack.substack.com/p/this-week-in-crypto-miami-edition

This Week in Crypto (Miami Edition)

Issue summary: This week we’re writing from Miami where events like DCentral, Regenaissance, BitBasel, and Qrypto Queens have helped make NFTs and digital assets a central part of pop culture during Art Basel.

DeFi’s TVL sets a new ATH above $250B. However, Ethereum’s dominance over DeFi activity has taken a big hit in H2 2021.

🎧 New Podcast Episode: This Week in Crypto: (Grayscale Launches Solana Product, CZ Hints France for Global Headquarters, Ethereum Payments come to Twitter)

https://anchor.fm/coinstack/episodes/This-Week-in-Crypto-Grayscale-Launches-Solana-Product--CZ-Hints-France-for-Global-Headquarters--Ethereum-Payments-come-to-Twitter-e1b5odj

Investors validate BTC as a legitimate macro asset with 21.63% of Bitcoin's supply moving above the $1T dollar market cap threshold.

Bitcoin is down 17.5% in the last 24 hours to $46k. Welcome to crypto, the most volatile asset class in the world.

Who’s in Puerto Rico this week for Blockchain Week?
We have an event on Thursday to share with everyone here.

Avalanche has been rapidly growing their number of Monthly Active Wallet Addresses the last few months. The L1 blockchain has already passed the total for October just 9 days into December.

BREAKING: Polygon acquires ZK-rollups startup Mir Protocol for $400 million. The deal follows Polygon's acquiring of Hermez Network for $250 million in August.

https://www.theblockcrypto.com/post/126991/polygon-acquires-mir-protocol-400-million-zk-rollups

In regards to ZK-rollups, StarkEx currently has the highest total value locked (TVL) at nearly $1.3 billion, followed by Loopring (about $630 million) and zkSync (about $60 million)

NFT Marketplace Magic Eden Users Transact ~6 Times per Day, on Average, Versus ~2 Times per Day on OpenSea

Daily net emissions for Ethereum trended even lower in November as Ethereum app usage picked up. Ethereum set a new all time record for monthly revenues ($1.8B), leading to an increase level of token burn and supply reduction.

At current run rates, Ethereum is on track to do over $20B in revenues in 2022. Once the conversion to PoS is complete mid-year, all those revenues will go to either reduce supply or be paid out to stakers as cash flow.

Polygon hits ATH revenues ($948K/week), 353k DAU

Here is the 2021 YTD Price Performance of Bitcoin vs. Ethereum. Ethereum is leading the way with a 448% return vs. Bitcoin at 70% as the smart contract platform continues to gain share over BTC.

Bitcoin Fell -5.4% on the Month, Underperformance Compared to the +11.5% Median Return Historically Seen in November.

Polygon’s network revenue increased 44% to $136k per day! Avg. cost per transaction last week was $0.035.

Arweave showing the largest uptick in revenue with a 297% growth in 7d revenue trend.

Since January 2020, holding Bitcoin would have increased your purchasing power by 520% making Bitcoin an excellent inflation hedge during covid.

Retail Accumulation shows the 7-day change in holders of less than 1 BTC coin balance.

The last time retail bought the dip this hard was at the bottom of the COVID crash, which sequentially led to the bull run of May 2021.