Daily digest for NYC Crypto, on January 1, 2024

chefmatthew987 posted: " Can Polkadot's NFT ecosystem flourish in 2024?  AMBCrypto News " NYC Crypto Can Polkadot's NFT ecosystem flourish in 2024? – AMBCrypto News chefmatthew987 Dec 31 Can Polkadot's NFT ecosystem flourish in 2024?  AMBCrypto News Comment

chefmatthew987 posted: " Hidden Gems: 7 Cryptos Set to Explode in 2024  CryptoDaily " NYC Crypto Hidden Gems: 7 Cryptos Set to Explode in 2024 – CryptoDaily chefmatthew987 Dec 31 Hidden Gems: 7 Cryptos Set to Explode in 2024  CryptoDaily Comment

chefmatthew987 posted: " VeChain and Polkadot holders seeking opportunities in ongoing Pullix presale  crypto.news " NYC Crypto VeChain and Polkadot holders seeking opportunities in ongoing Pullix presale – crypto.news chefmatthew987 Dec 31 VeChain and Polkadot holders seeking opportunities in ongoing Pullix presale  crypto.news Comment

chefmatthew987 posted: " The percentage of long-term ETH holders has skyrocketed this year to surpass Bitcoin for the second time ever. According to data from on-chain analytics platform IntoTheBlock, Ethereum has done pretty well in its percentage of long-term holder" NYC Crypto The Year Of Ethereum: ETH Long-Term Holder Percentage Surpasses BTC chefmatthew987 Dec 31 The percentage of long-term ETH holders has skyrocketed this year to surpass Bitcoin for the second time ever. According to data from on-chain analytics platform IntoTheBlock, Ethereum has done pretty well in its percentage of long-term holders this year, with over 70% of investors currently holding on to their assets for more than a year, a new milestone for the blockchain. ETH Long-Term Holders Now Top BTC Ethereum's price activity has largely underperformed this year when compared to Bitcoin. But this isn't surprising, as Bitcoin has led the entire industry in bullish metrics and investor confidence this year. However, data from IntoTheBlock suggest more Ethereum investors are holding onto ETH for the long haul, hopefully with the belief that it will continue to rise substantially in value over time.  Long-term holders are investors who refuse to sell their crypto even during times of market volatility and price depreciation. They are particularly important in maintaining the overall health of any blockchain, as they help to provide stability and reduce price volatility. History has shown Ethereum surpassing Bitcoin as regards this metric only once before. It's important to note that the last time this happened, ETH would go on to lead in this metric over the subsequent months. 2023 Review! This year, the percent of long-term $ETH holders surpassed that of Bitcoin for the second time ever! pic.twitter.com/i6kDzAjzgM — IntoTheBlock (@intotheblock) December 30, 2023 On the other hand, In/Out of the Money metric by IntoTheBlock shows Bitcoin leading Ethereum in terms of profitability. At the time of writing, 82.25% of all BTC addresses are making money at the current price, compared to 76.10% of ETH addresses. Bitcoin's high profitability can be linked to a huge number of early Bitcoins assumed to be lost forever. As a result, the percentage of holders who bought at the current price metric puts Ethereum ahead of Bitcoin. Total crypto market cap is currently at $1.6 trillion. Chart: TradingView.com Around 63% of ETH addresses who bought around the current price of $1,948 and $2,641 are still in profit compared to BTC's 52% of addresses that bought between $35,729 and $48,402. What's Next For Ethereum? Ethereum is currently trading at $2,285 and is up by 91% this year. However, the asset's price has largely underperformed in comparison to major altcoins like Solana and Cardano, who are currently up by 925% and 145% respectively this year.  Interestingly, this hasn't stopped bullish predictions from coming in regarding Ethereum. One of these is a prediction from BitMex founder Arthur Hayes, who estimated an astounding $5,000 price for Ethereum. Crypto analyst Raoul Pau also looked at price history to predict ETH outperforming BTC becoming a key macro trend of 2024. The first step in achieving this would be to break above the $2,380 price level.  For all the ETH bears… in Feb 2021, BTC first hit $44,000 (where it is today) and ETH was at $1400 (now $2250), 9 months later ETH was up 245%, BTC was up 45%… I think ETH outperforming BTC will be a key macro trend of 2024 and our work at EXPAAM suggests it. 1/ pic.twitter.com/QGSZahhldg — Raoul Pal (@RaoulGMI) December 21, 2023 Featured image from Pexels  Comment

chefmatthew987 posted: " Ethereum founder Vitalik Buterin has shared the crypto project's roadmap for 2024. In a series of posts on X on December 30, Buterin spoke extensively on Ethereum's gameplan for the new year, which he claims is quite similar to the plan for 20" NYC Crypto Vitalik Buterin Reveals Ethereum's Road Map For 2024 chefmatthew987 Dec 31 Ethereum founder Vitalik Buterin has shared the crypto project's roadmap for 2024. In a series of posts on X on December 30, Buterin spoke extensively on Ethereum's gameplan for the new year, which he claims is quite similar to the plan for 2023, albeit with a few changes. Ethereum Roadmap 2024 According to information revealed by Buterin, the main focus of Ethereum for 2024 centers around six key goals, namely the Merge, the Surge, the Scourge, the Verge, the Purge, and the Splurge. The Ethereum Merge aims to create an ideal, simple, robust, and decentralized proof-of-stake (PoS) network.  The Merge occurred in September 2022 with the integration of the Ethereum mainnet with the Beacon Chain, thus marking the end of the proof-of-work consensus algorithm. Speaking on post-Merge improvements in 2024, Buterin claimed that the single-slot finality (SSF) mechanism presented the easiest method of eliminating the current restrictions of Ethereum's PoS design. By popular demand, an updated roadmap diagram for 2023! pic.twitter.com/oxo58A2KuG — vitalik.eth (@VitalikButerin) December 30, 2023 In regards to the Surge, Buterin stated that there will be notable advancements in rollup scaling with significant developments both on EIP 4844 and within various rollups. Additionally, there will be a focus on long-term improvement in cross-rollup standards and interoperability, all of which will drive Ethereum toward achieving the goal of processing over 100,000 transactions per second.  The Ethereum co-founder also highlighted that the Scourge target has been re-oriented to tackling economic centralization in two key areas namely MEV and liquid staking/pooling. In addition, Buterin stated that there will be significant progress in achieving the Verge with the incoming introduction of verkle trees, which will contribute to the easy verification of blocks in the Ethereum network.  Buterin Faces Allegations From Former Ethereum Foundation Advisor In other news, Buterin has been accused of "defrauding the world" by former Ethereum Foundation adviser Steven Nerayoff. This statement came in response to Buterin's concerns about the perversion of the original vision of Web 3. In a blog post on Dec 28, the Ethereum founder shared that the blockchain project was initially designed to function as a decentralized, shared hard drive. However, users have since diverted from the vision with a focus more on the financial applications of Ethereum. Nerayoff countered Buterin's claims, stating that the Ethereum's co-founder, along with "his cabal," are responsible for the perversion of the "Web 3 vision," which they used to "defraud the world." So far, there has been no response to these accusations. At the time of writing, Ethereum trades at $2,285.41 with a 0.81 decline in the last day. Meanwhile, the token's daily trading volume is down by 36.68% and valued at $6.84 billion. ETH trading at $2,285.41 on the daily chart | Source: ETHUSDT chart on Tradingview.com Featured image from Forbes, chart from Tradingview Comment Manage your email settings or unsubscribe.

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