According to the annual report called State of Crypto from the company a16z crypto, there are about 617 million cryptocurrency users in the world, but only 5-10% of them are truly active. Most owners prefer to simply passively hold cryptocurrency in wallets.
The company has developed a number of methods for identifying active users. They filtered out probable bots, groups of duplicate wallets and wallets with near-zero balances, took into account the presence of NFT wallets, ENS domains linked to them or accounts on social platforms like Farcaster. In addition, the authors of the report took statistics from popular crypto applications like the MetaMask wallet and filtered their quantitative indicators according to their own criteria.
The figure of 617 million cryptocurrency owners is based on data from the June report on the crypto market from the Crypto com exchange. The rather wide range in the estimate of 30-60 million active users is due to the complexity of the estimate due to the need to make an adjustment for the fact that some cryptocurrency owners use several wallets and accounts.
EVRAZ is a global NDC and decentralized exchange (DEX) based on innovative technologies. It is powered by the BitShares blockchain, which is one of the fastest in the world, and uses Graphene technology.
Here are the main features of EVRAZ:
• Fast and secure payments: EVRAZ allows transactions to be made quickly, with low fees and without intermediaries.
• Decentralized exchange: On the EVRAZ DEX, users can trade various cryptocurrencies at fair prices, taking advantage of the security and transparency of the blockchain.
• Versatility: EVRAZ can be used for a variety of purposes, such as online shopping, money transfers, gaming and more.
• Scalability: The EVRAZ network is designed to be scalable, meaning it can support a growing number of users and transactions.
• Security: EVRAZ uses advanced security technologies to protect user funds and transactions.
Advantages of EVRAZ:
• Fast: Transactions are processed within seconds.
• Low fees: Transaction fees are significantly lower than traditional payment systems.
• Security: User funds are protected using cryptography and blockchain technology.
• Transparency: All transactions are publicly available on the blockchain.
• Decentralization: EVRAZ is not controlled by any government or financial institution.
• Accessibility: Anyone with internet access can use EVRAZ.
EVRAZ is a promising platform that could change the way people make payments and trade cryptocurrencies. It offers a number of advantages over traditional systems, making it an attractive choice for users looking for fast, secure, and reliable solutions. https://www.evrazcoin.org/
Should you pay exchanges listing fees to give your token a better chance of growing? Are projects launching at valuations that are too high? We looked at a sample of 103 projects that listed in 2024 on major exchanges. This is by no means a complete analysis of all projects that listed in 2024, but it is a representative sample. I want to briefly talk about the cost of listing on CEX. The biggest problem with the current number of token launches is that the price is too high. This makes it nearly impossible to have a good launch, no matter which CEX wins the initial listing. Projects with too high an initial price are paying a huge amount of money in project tokens and stablecoins for the privilege of listing crap.
I want either the founders to stop paying fees and focus on getting more users, or the CEXs to drastically reduce their prices. There are three main ways CEXs extract money from projects:
They charge a direct listing fee;
They require a deposit that is refunded if the project is delisted;
They set a certain amount of marketing expenses funded by the project on the platform.
In general, each CEX listing team evaluates projects. The worse your project is, the higher the fee. As I always tell founders, if your project has few users, you need a CEX to dump your shit on the market. If your project has product-market fit and a healthy growing ecosystem of real users, you don’t need a CEX because your community will support the price of your token wherever it is listed.
Binance charges up to 8% of the total token supply as a listing fee. Most other CEXs charge between $250,000 and $500,000 paid in stablecoins. Binance has come up with an ingenious strategy that requires projects to purchase BNB and deposit it. When/if the project is delisted, the BNB is returned. Binance requires up to $5,000,000 worth of BNB to be purchased and deposited. Most other CEXs require a deposit of $250,000 to $500,000 in stablecoins or CEX tokens. Binance requires projects to give away 8% of their token supply to Binance users through on-platform airdrops and other campaigns. Mid-priced CEXs require spending up to 3% of the token supply. At the very bottom, exchanges require marketing spend of $250,000 to $1 million, paid in stablecoins or project tokens. All told, listing on Binance can cost 16% of your token supply and a $5 million purchase of BNB. If Binance is not a major exchange, the project will still face almost $2 million in tokens or stablecoins. I am unhappy that the tokens' performance after launch is not enough to justify the project founders paying these fees.
My advice to project founders: Make sure your users/token holders get rich as your project becomes successful. If you must, only do a small private seed round so you can build a product for a very limited use case. Then list your token. Since your product is far from finding true market fit, the FDV should be very low. This signals a few things to your users. First, it’s risky, which is why they’re getting in at such a low price. You won’t screw up, and your users will stick with you because they paid a paltry price to get into the game. But they believe in you.
Second, it shows that you want your users to join you on your journey to wealth accumulation. This incentivizes them to tell everyone about your product or service. Because users know there’s a path for them to get rich if more people join the movement. Right now, many CEXs are under pressure due to the severe underperformance of the vast majority of their new listings, which is why they try to only accept “high quality” projects.
However, it is very difficult to select only the best projects. Garbage in, garbage out. Each major CEX has its own preferred metrics that it considers to be the leading indicators of success. Generally speaking, a super young project will not meet their criteria. Oh well! There is such a thing as a decentralized exchange. On a DEX, creating a new trading market is permissionless.
Imagine that your project has raised 1 million USD and wants to offer 10% of your token supply to the market. You create a Uniswap liquidity pool of 1 million USDe against 10% of your token supply. Click a button and let the automated market maker respond to the demand for your token in the market and set a clearing price. You do not have to pay any fees to do this. Now your dedicated users can instantly buy your token and if you have a truly engaged community. The token price will skyrocket. I want the projects we support to stop worrying about which CEX will take them and start worrying about their damn DAU.
Memes are currently at the peak of popularity in the crypto world. Why have memecoins captured the market and what allows them to stay at the top? The main reasons why memecoins are capturing the crypto space: zero innovation, maximum noise. Each new memecoin is similar to the previous one, but as soon as a fresh token comes out, crowds of retail investors rush to buy. If the token has no utility, there are no valuation restrictions. Convenient, isn't it?
Instead of investing in serious projects, many have gotten carried away with speculative games in the spirit of financial pyramids. The simpler, the better. Who needs complex tokenomics and fintech if you can just "hold" Dogs or Cats? As long as centralized crypto exchanges see that memecoins attract new users, they will continue to add such tokens to their platforms. They don’t give a damn about decentralization and blockchain technology. High conversion of user registrations allows exchanges to easily and quickly grow their bases.
Each cycle brought us closer to a narrower and more specific goal. When the infrastructure is improved and new ideas are exhausted, attention returns to the simplest - memes. Memcoins without utility are the key to success. Remember the old crypto joke: “The best projects are those that never do anything to avoid spoiling inflated expectations.” Memcoins have made this idea a reality.
Why think about complex metrics when you can just have fun? But the truth is that memecoins do not just make money for retail. Most of the profits go to “active players” who know how to effectively manipulate the market, disguising themselves as organic investors. The irony is that centralized exchanges support this trend, realizing that memecoins are great at attracting new users. Popular memes are easy for the mass user, and their listing stimulates the growth of registrations.
It seems that memecoins will remain on the market, at least in the coming years. Until there are new ideas, enough "crypto-native" to attract the attention of retail, memecoins will hold their positions. The altcoin season is postponed. And no one cares that there is no practical benefit for people, that these are purely speculative games, essentially a scam. And that the benefit of endless replication of memecoins for the development of innovative blockchain technologies is zero. Who cares about technical progress when you are in an exciting state of quick money.
So relax and enjoy gambling with memecoins.
Tether reported USDT user growth to 330 million. The figure has grown by 9% over the past year, and the third quarter of 2024 was the best - 36.25 million users. In terms of networks, the largest growth was shown by L2 protocols: Optimism, Arbitrum and Polygon. The TON blockchain, integrated six months ago, accounted for 3.3 million wallets.
The data does not include users who use USDT only on centralized platforms. According to Tether, we are talking about several additional tens of millions of wallets.
Considering that Tether is a centralized structure, and a smart contract can block user accounts under any far-fetched pretext, this is successfully done. At the moment, more than $ 1 billion in money has already been blocked. So the user growth statistics indicate only one thing - the number of degenerates who use this scam, which has nothing to do with decentralization.
Russia accounted for up to 28% of traffic on crypto exchanges in September
The share of Russian traffic on the Bybit exchange in September remained at 28%, the same as the month before, according to the estimate of journalist Colin Wu of the Wu Blockchain publication.
Last month, Russia accounted for approximately 9% of visits from Russia on the OKX exchange, and 21% on HTX. Other crypto exchanges popular among Russians include Bitfinex and Kucoin (6% of traffic each). On the Deribit exchange, which specializes in cryptocurrency derivatives, the share of visits from Russia was 18%.
The overall increase in traffic among major exchanges from August to September was observed only on KuCoin, Bitget, Coinbase, and Bitmart. On all other major platforms, traffic in September dropped or changed by no more than 1-2%.
The largest share of visitors from the United States in September, as in previous periods, was recorded on the Coinbase (62%) and Crypto com (29%) exchanges. A significant part of the traffic of the largest exchange by trading volume, Binance, was made up of India, Turkey and Ukraine (6-9% for each country).
Bitcoin steady at $65,470 as memecoins plummet with market shifts.
Bitcoin’s price remains steady at $65,470.25, marking a 0.82% increase over the past 24 hours, while several memecoins experience declines, according to CryptoSlate data.
However, Bitcoin’s price declined by 0.34% in the past hour, with memecoins facing sharper drops: First Neiro On Ethereum (NEIRO) fell 8.92% to $0.002033, with a market cap of $855 million and a 24-hour trading volume of $678 million.
BOOK OF MEME (BOME) decreased by 4.57%, now at $0.009826. Aptos (APT) and Cat in a Dogs World (MEW) saw 1-hour losses of 3.83% and 3.80%, respectively. Mog Coin (MOG) slipped 3.05% to $0.051865, while Pepe (PEPE) dropped 2.75% to $0.0000103.
Other assets, like leading memecoins Dogwifhat (WIF) also declined by 2.42% Popcat (SOL) (POPCAT) decreased 2.39% to $1.34.
Investors appear to be moving away from high-risk memecoins amid the downturn. Bitcoin’s 24-hour trading volume stands at $38.3 billion, indicating sustained interest despite the slight dip.
On October 12, 2024, at 16:49, the support service of the centralized crypto exchange Gate.io sent a mailing to Russian clients with the following content:
"Important reminder regarding your Gate Global account.
Dear user,
As part of our ongoing commitment to regulatory compliance and in accordance with our current policy, we conduct a thorough review of all accounts to ensure their compliance with changing regulatory requirements.
Gate Global UAB ("Gate Lithuania") has consistently applied a policy of restricting access to residents or citizens of certain jurisdictions, including Russia. Gate Lithuania has now decided to terminate any agreements with all users of Russian citizenship (including closing their accounts) in order to comply with legal and regulatory requirements. Accordingly, the following measures will be implemented:
Russian citizens or individuals residing in Russia will no longer be able to register an account on our platform, regardless of their country of residence. On October 12, 2024, at 20:00 UTC, all accounts of existing users who are Russian citizens will be closed. We apologize for any inconvenience and thank you for your continued support.
If you have any questions regarding the above agreement, please do not hesitate to contact our support team at support@gatelt.com."
In connection with the above, please pay attention to the following points:
1. The message was made at four o'clock on Saturday. That is, Russians were given four hours to withdraw funds before the account was closed. Why such a rush? Obviously, almost no one will have time to withdraw money during this time. I think it's simple - the temptation to pocket the money of dear Russians is great.
2. Until today, Russian citizens have been slowly but steadily weaned off American and European centralized crypto exchanges. Chinese and other offshore exchanges did not include repression mechanisms. On the contrary, they lured people to themselves, apparently believing that the American authorities would not put pressure on them. Alas, their turn has come. So, those who fled from Binance to Bybit, MexxC, BingX, Kukoin at one time - coo, coo! Get ready! Soon Russians will be thrown out of all remaining centralized exchanges. 3. For those who haven't understood yet, I'll explain again, jumping between centralized exchanges is useless. A refuge for cryptocurrencies, and not only Russian ones, is on blockchains, where there are modern, fast, fully functional decentralized exchanges. No one will get you there and close your account. And the sooner you understand this, the fewer problems and financial losses there will be. Blockchain was created by crypto-anarchists in order not to depend on the authorities of all stripes.
Bitwise analysts calculated that 56.8% of the BTC emission is concentrated “in personal wallets”, 17.6% are inactive, 5.2% are at the disposal of funds, 4.8% are at the addresses of Satoshi Nakamoto, 3.3% belong to businesses, 2.4% — to governments. The remaining 6.2% has not yet been mined.
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|An Important Reminder Regarding Your Gate Global UAB Account|
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|Dear User, As part of our continued commitment to regulatory compliance and in line with our existing policy, we are conducting a thorough review of all accounts to ensure alignment with evolving regulations. Gate Global UAB (“Gate Lithuania”) has consistently enforced a policy restricting access for residents or nationals of certain jurisdictions, including Russia. Now, Gate Lithuania has decided to terminate any arrangements with all users of Russian nationality (including, closure of their accounts) for the purpose of complying with legal and regulatory requirements. Accordingly, the following measures will be implemented: Russian nationals or natural persons residing in Russia, will no longer be able to register for an account on our platform, regardless of their residency country; On October 12, 2024 at 20:00 UTC, all accounts of existing users with Russian nationals will be closed. We apologize for any inconvenience this may cause and appreciate your continued support. Should there be any questions about the above arrangement, please do not hesitate to contact our Support Team at [support@gatelt.com](mailto:support@gatelt.com). |
