The hottest Crypto Substack posts right now

And their main takeaways
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Top Crypto Topics

Coin Metrics’ State of the Network: Issue 200

Coin Metrics' State of the Network • 0 implied HN points • 28 Mar 23
đź”® Crypto Bitcoin Mining Taxation Market Trends
  1. Bitcoin miners have seen a boost in revenue from Inscriptions despite some challenges with chain splits and indexing issues.
  2. American mining operations are facing challenges from bankruptcy, severe weather, but have maintained a strong foothold in the global hashrate landscape.
  3. Miners are enjoying a Q1 revenue rebound, but are struggling with increased energy costs and the potential impact of a proposed 30% excise tax on mining operations in the U.S.

21 â‚żitcoin orange Pillen fĂĽr Nocoiner

DarthCoin’s Bitcoin Guides • 0 implied HN points • 08 Jan 24
đź”® Crypto Bitcoin Blockchain Wallets Investing Security
  1. Start your Bitcoin education by reading the Bitcoin Whitepaper and 'The Bitcoin Standard'. Attend Bitcoin meetups to learn more.
  2. Choose a secure Bitcoin wallet carefully and store your wallet seed in a safe place.
  3. Always prioritize self-education in Bitcoin and be cautious of scams. Trust yourself, verify everything, and maintain control over your own finances.

The Bitcoin Boom: Asset, Currency, Commodity or Collectible?

Musings on Markets • 0 implied HN points • 24 Oct 17
đź”® Crypto Digital Currency Blockchain Trading Investing Market Analysis
  1. Bitcoin is a currency, not an asset. This means you can't determine its value the same way you would for things like stocks or real estate.
  2. You should focus on trading Bitcoin rather than investing in it. Trading is about predicting price changes, while investing requires valuing an asset.
  3. The future of Bitcoin can go in different directions: it could become a global currency, a gold alternative for the younger generation, or even a trend that fades away like the tulip bubble.
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Bitcoin Q & A: Bubble or Breakthrough? Both! Cult or Currency? Both!

Musings on Markets • 0 implied HN points • 10 Mar 14
đź”® Crypto Digital Currency Blockchain Investing Technological Innovation Financial regulation
  1. Bitcoin is a currency that can be accepted in transactions, but it's hard to value like traditional assets. It's treated differently from other currencies, as its value relies more on market perception and less on cash flows.
  2. The success of Bitcoin depends on trust in its underlying technology, how widely it's accepted for transactions, and how securely it can be stored. Without strong trust and use, its value might not hold in the long run.
  3. For Bitcoin to thrive, it needs to be used more broadly beyond just enthusiasts. If people can trust the system and find it convenient, it could evolve as a currency despite its current limitations.

The Steps to Understand Bitcoin, Then Saito - Without Any Prior Knowledge

muk’s Newsletter • 0 implied HN points • 30 May 23
đź”® Crypto Blockchain Security Decentralization
  1. Bitcoin's security relies on Proof of Work, where miners compete to add blocks to the longest chain, preventing double-spending attacks.
  2. Saito introduces a unique approach by rewarding nodes based on the transactions they collect, fostering collaboration and deterring attacks through economic incentives.
  3. Saito's design ensures that attackers always lose money when trying to manipulate the network, making sustained attacks financially unsustainable and safeguarding against 51% attacks.

Making Sense of Bitcoin’s Changing Market Rythm

Coin Metrics' State of the Network • 0 implied HN points • 11 Nov 25
đź”® Crypto Bitcoin Market Trends Investment Volatility
  1. Bitcoin supply is changing slowly, with long-term holders moving coins gradually. This shows a steady shift in who owns Bitcoin now.
  2. Bitcoin ETFs and Digital Asset Treasuries have taken up a large chunk of new supply, providing a consistent demand. This means more stability in who holds Bitcoin.
  3. Bitcoin's price movements are less volatile now, resembling steady tech stocks. This suggests that the market is maturing and becoming less wild than before.

Zcash’s Breakout and the Revival of On-Chain Privacy

Coin Metrics' State of the Network • 0 implied HN points • 18 Nov 25
đź”® Crypto Blockchain Privacy Technology Finance Adoption
  1. Zcash has seen a huge price increase of almost 10 times since October due to growing interest in privacy in blockchain transactions.
  2. The amount of Zcash stored in private, shielded wallets has risen significantly, indicating that more users value privacy while using digital currencies.
  3. Recent technological improvements, like better wallets and easier cross-chain swaps, have made it simpler for users to use Zcash's privacy features.

Crypto at the Crossroads: ETF Flows, Leverage Reset, and Shallow Liquidity

Coin Metrics' State of the Network • 0 implied HN points • 25 Nov 25
đź”® Crypto Market Trends Investment Strategies Regulatory changes
  1. Demand for Bitcoin and other cryptocurrencies is down because big investors, like those in ETFs, are pulling back their money. This has made the market more unstable.
  2. Many traders are reducing their leverage, which means they're taking less risk. This is helping to clean up the market a bit but may lead to lower price movements for now.
  3. Liquidity in the market is still weak, making it easier for small trading activities to cause big price swings. This fragility needs to improve for the market to stabilize.

Reaching New Scale: Ethereum's Fusaka Upgrade

Coin Metrics' State of the Network • 0 implied HN points • 02 Dec 25
đź”® Crypto Blockchain Ethereum Scalability Transactions
  1. The Fusaka upgrade will make Ethereum faster and more efficient by increasing the amount of data it can handle at once, allowing for smoother transactions.
  2. New features like PeerDAS will help Ethereum check data more efficiently, making it less demanding on resources and potentially lowering costs for users.
  3. With better fee structures and usability updates, the Fusaka upgrade aims to create a more user-friendly experience, making it easier for everyone to use Ethereum.

Ronin is heading to EthCC Cannes!

Ronin’s Newsletter • 0 implied HN points • 23 Jun 25
đź”® Crypto Blockchain DeFi NFTs Smart Contracts Ecosystems
  1. Ronin is hosting a hackathon at EthCC Cannes from July 4th to 6th, offering a $5,000 prize pool for developers to create dApps. It's a great chance to join a fun three-day building event.
  2. They are interested in innovative dApps focusing on gamified finance, social platforms, AI, and real-world applications. Creators are encouraged to think outside the box and bring fun ideas to life.
  3. Building on Ronin provides access to a large user base of 800,000 monthly active users, mainly in Southeast Asia, the U.S., and Latin America. Developers can also get support and funding opportunities from the Ronin team.

The Election Bull Run From the Perspective of Options Markets

Coin Metrics' State of the Network • 0 implied HN points • 12 Nov 24
đź”® Crypto Bitcoin Options Market Trends Regulation
  1. Bitcoin trading was super active during and after the election, reaching new highs in value.
  2. Options markets showed strong focus on call options, indicating that traders are feeling very positive about Bitcoin's future price.
  3. Implied volatility dropped sharply after the election, suggesting that uncertainty has decreased and traders expect more stability ahead.

Data-Driven Update on Stablecoins

Coin Metrics' State of the Network • 0 implied HN points • 19 Nov 24
đź”® Crypto Stablecoins Market Trends
  1. The total supply of stablecoins has reached $189 billion, with Tether's USDT being the most popular, making up 66% of that amount. Ethereum holds a significant part of the stablecoin market, showing its importance in the space.
  2. Stablecoins are vital in up markets as they help facilitate trading, with volumes hitting $120 billion. They also act as a safe place to store value, making them useful in both rising and falling markets.
  3. On-chain activity with stablecoins is growing, especially on Solana, where transaction counts have soared. New stablecoins are also entering the market, driven by demand for yield and innovative financial products.

MicroStrategy’s Bitcoin Mega Strategy

Coin Metrics' State of the Network • 0 implied HN points • 26 Nov 24
đź”® Crypto Bitcoin Investment Finance Market Trends Corporate strategy
  1. MicroStrategy has a unique investment strategy focused on Bitcoin, holding a huge amount of it, which makes them the largest corporate holder of Bitcoin worldwide.
  2. They finance their Bitcoin purchases by using convertible bonds, allowing them to borrow money at low costs to buy more Bitcoin.
  3. While their approach has been successful, it carries risks due to Bitcoin's price volatility and the high valuation of MicroStrategy's stock compared to its Bitcoin assets.

Understanding Staking Yields and Economics on Ethereum & Solana

Coin Metrics' State of the Network • 0 implied HN points • 03 Dec 24
đź”® Crypto Blockchain Staking Economics Finance Technology
  1. Ethereum has about 34.4 million ETH staked, making up 28% of its total supply, while Solana has a higher staking ratio at 51% with 297 million SOL staked. This shows that more people are willing to stake their SOL due to easier entry requirements.
  2. Ethereum has more validators, about 1.07 million, compared to Solana's 5,048 validators. However, Solana engages over 1.21 million delegators, showing a lot of participation despite fewer validators.
  3. The staking yields differ significantly: Ethereum offers around 3.08% yield, while Solana offers a much higher yield of 11.5%. The differences come from their inflation models and reward structures for validators versus delegators.

Crypto Market & Polymarket Dynamics Heading into Elections

Coin Metrics' State of the Network • 0 implied HN points • 05 Nov 24
đź”® Crypto Market Analysis Investment Strategies Election Impact
  1. Bitcoin usually saw big gains after U.S. elections, but the amount gained has been going down each time. Events like Bitcoin halvings and changes by the Federal Reserve also affect these gains.
  2. Around U.S. elections, the price of Bitcoin becomes more volatile and tends to stay that way for about a month after. This means traders are adjusting to new information as the election gets closer.
  3. Polymarket, a prediction market, shows changing odds for the election, with international traders reacting to U.S. political news, often trading during U.S. night hours. This suggests a global interest in U.S. elections.

How Bitcoin billionaires change philanthropy

Grant & Co • 0 implied HN points • 08 Sep 21
đź”® Crypto Philanthropy
  1. When Bitcoin reaches around $150,000, there will be more crypto-billionaires than all other types of billionaires combined.
  2. Cryptocurrency wealth will have a significant impact on philanthropy and change the way charitable donations are made.
  3. The rise of cryptocurrency could lead to major shifts in the world of philanthropy, but many questions remain unanswered about its implications.

Analyst Spotlight Circle (USDC) Overview

Coin Metrics' State of the Network • 0 implied HN points • 15 Jul 25
đź”® Crypto Stablecoins Regulations Market Data Financial Systems Blockchain
  1. Coinbase is really important for USDC's growth because it helps distribute the coin and encourages its use across various platforms.
  2. Circle makes it easy to switch between USDC and traditional money, which helps more people start accepting stablecoins in their businesses.
  3. USDC follows global rules closely, making it a safer choice for businesses and merchants looking to use stablecoins across different countries.

Exploring Crypto Market Dynamics through Options Data

Coin Metrics' State of the Network • 0 implied HN points • 20 May 25
đź”® Crypto Market Analysis Derivatives Sentiment Volatility Trading
  1. Options are becoming a key part of trading in crypto. They help traders manage risks, express their views on price changes, and understand market sentiment better.
  2. The use of Bitcoin options has surged significantly, showing that more people are getting involved in options trading. Most of the activity happens on the Deribit exchange, which is quite popular among traders.
  3. Market positioning through options shows a bullish outlook for Bitcoin, while Ethereum has a more mixed sentiment. This means traders are more confident about Bitcoin's future price than they are about Ethereum's direction.

Tether (USDT) Analyst Report

Coin Metrics' State of the Network • 0 implied HN points • 10 Jun 25
đź”® Crypto Blockchain Stablecoins Market Analysis Digital Assets Investment Trends
  1. USDT is great for fast and cheap cross-border payments, making it useful for people in countries where getting US dollars is tough.
  2. It's easily available on many platforms, helping it become popular quickly as people use it more for trading and blockchain activities.
  3. Institutions like USDT too because it's stable and makes transactions simpler, showing that it's not just for everyday users.

Tokenized Bitcoin: Extending Bitcoin’s Utility

Coin Metrics' State of the Network • 0 implied HN points • 03 Jun 25
đź”® Crypto Bitcoin Blockchain DeFi Tokens Market Trends
  1. Tokenized Bitcoin like WBTC and cbBTC makes Bitcoin useful across different blockchain networks. This helps people use Bitcoin in various ways, not just as a store of value.
  2. WBTC is the biggest wrapped Bitcoin option, but cbBTC is quickly gaining popularity, especially on platforms like Base and Solana. Together, they have significant activity in decentralized finance (DeFi).
  3. These tokenized Bitcoins allow users to engage in trading and lending without selling their actual Bitcoin. They open up new financial opportunities while also involving some risks related to how they are managed.

The After-Effects of Ethereum’s Pectra Upgrade

Coin Metrics' State of the Network • 0 implied HN points • 27 May 25
đź”® Crypto Blockchain Ethereum Staking Layer 2 DeFi
  1. The Pectra upgrade for Ethereum increased the maximum balance a validator can hold, allowing for better rewards and encouraging the consolidation of multiple validators into one.
  2. The upgrade also doubled the available blob space, which improves how Layer-2 solutions can operate, making transactions cheaper and faster for users.
  3. Early results show that more blobs are being used, and transaction counts have significantly increased, but there's still potential for even more growth in usage.

$APRS Token Sale: How to Participate

Ronin’s Newsletter • 0 implied HN points • 11 Mar 24
đź”® Crypto Staking Marketplace
  1. Prepare early for the $APRS token sale by staking wRON and meeting KYC requirements well in advance to avoid last-minute issues.
  2. The $APRS token sale involves three main phases: Staking Period, Purchase Period, and Claim Period, each with specific steps to follow.
  3. Following the steps outlined for the token sale, such as wrapping RON, purchasing $APRS tokens, and claiming them, ensures a smooth participation process.

Origins Season 11 is LIVE!

The Lunacian • 0 implied HN points • 20 Nov 24
đź”® Crypto Blockchain Gaming NFTs Rewards Market
  1. Origins Season 11 has started with a big prize pool of 80,000 AXS! Players have seven weeks to compete for this opportunity.
  2. Nightmare axies are now available and can morph in exciting ways, making the gameplay more fun. Players can also earn additional rewards with collectible items.
  3. It's easier to upgrade runes and earn rewards this season with reduced mint fees and better rank-up bonuses. Plus, collectible chests are back with more chances to earn AXS!

Cambria’s $RSGP presale starts today!

Ronin’s Newsletter • 0 implied HN points • 02 Mar 26
đź”® Crypto GameFi Play-to-Earn Blockchain Ethereum Governance
  1. The RSGP presale starts March 2nd on Ethereum and runs through March 4th; join by connecting your wallet to Cambria’s presale portal and depositing USDC or supported tokens, with allocations based on onchain history, Ethos score, and deposit share.
  2. RSGP is meant to power features like staking benefits (for example reduced withdrawal fees) and governance over some game features. You won’t need RSGP just to play the games.
  3. Cambria is a popular onchain MMO (Gold Rush and Duel Arena) with substantial onchain volume and peak players, and RSGP aims to help transition the game toward a persistent, always-online world.

The Machines Arena Skins are now NFTs on Ronin

Ronin’s Newsletter • 0 implied HN points • 29 Feb 24
đź”® Crypto NFTs Gaming Blockchain Web3
  1. The Machines Arena skins are now mintable as NFTs on Ronin, allowing you to trade them with other players.
  2. The Machines Arena team has received awards for their game development, including Best Web3 Game from the GDWC.
  3. Players can earn rewards by signing up for The Machines Arena's Season 3 Closed Beta Test, including exclusive skins that can also be minted as NFTs.

Introducing Exchange Flow Metrics

Coin Metrics' State of the Network • 0 implied HN points • 22 Oct 24
đź”® Crypto Data Analysis Market Trends Trading Strategies Investor behavior
  1. New metrics help track Bitcoin and Ethereum flows to and from exchanges. This data can show how much people are buying or selling and help understand the market.
  2. There has been an increase in miners sending Bitcoin to exchanges recently. This could be due to them wanting to secure profits before changes in Bitcoin rewards.
  3. Crypto.com is gaining a larger share of the Bitcoin market lately. By looking at trading volumes and flow data, we can tell if market activity is genuine or just fake trades.

An Overview of the Flow Blockchain

Coin Metrics' State of the Network • 0 implied HN points • 15 Oct 24
đź”® Crypto Blockchain Smart Contracts Digital Assets DeFi Tokenomics
  1. Flow is a Layer-1 blockchain built for quick, consumer-friendly apps. It uses a unique system to help scale and manage tasks efficiently.
  2. The recent Crescendo upgrade allows Flow to work with Ethereum's smart contracts, letting developers use tools from both ecosystems.
  3. Flow is popular for digital collectibles like NBA Top Shot and has low transaction fees, making it great for fast and affordable transactions.

State of the Network’s Q3 2024 Mining Data Special

Coin Metrics' State of the Network • 0 implied HN points • 08 Oct 24
đź”® Crypto Mining Market Trends Business Models Revenue streams Technological Advances
  1. Bitcoin mining revenues dropped to $2.5 billion in Q3 2024, down from $3.7 billion, mainly because of the halving event in April 2024.
  2. Transaction fees have been low, making miners look for new ways to earn money, like renting out space for AI or tokenizing whiskey barrels.
  3. There are still many empty blocks being mined, especially by certain pools, which raises questions about how miners are optimizing their processes.

Polymarket and the Power of Collective Intelligence

Coin Metrics' State of the Network • 0 implied HN points • 29 Oct 24
đź”® Crypto Blockchain Prediction Markets Digital Assets Market Analysis
  1. Prediction markets can give real-time insights into how likely certain events are to happen, rather than just relying on static polls. This makes them more dynamic and informative.
  2. Polymarket is a popular prediction market built on the Polygon blockchain, where users can bet on future events. It has a large investment of over $200 million locked in and is a major player in the Polygon ecosystem.
  3. The markets for the 2024 U.S. presidential election on Polymarket are very active and show how political events can affect the cryptocurrency market, especially with fluctuations in Bitcoin prices.

We're moving! A quick update

The price of agency • 0 implied HN points • 07 May 24
đź”® Crypto Blockchain Decentralization Web3 Smart Contracts Finance
  1. The author is switching their content to a new platform called Mirror, which is similar to Substack but offers some extra features.
  2. You can still follow their posts by subscribing with your email on Mirror, where they already have five posts available for you to read.
  3. The author mentions that their writing has become more frequent and engaging, thanks to the energy from their team.

With a Memecoin President, The Coming Cryptofication of America

Reverie by Daniel Cawrey • 0 implied HN points • 20 Jan 25
đź”® Crypto Blockchain Memecoins Regulation AI Innovation Entrepreneurship
  1. Trump's new memecoin has sparked a trend, leading many others to create their own coins. While most of these won't succeed, the excitement around memecoins could create a huge market.
  2. Combining cryptocurrency and AI is becoming popular. This mixture can help new projects grow quickly, despite some likely being poor ideas or scams.
  3. The new administration is likely to adopt a relaxed approach towards cryptocurrency, allowing for more innovation. This could make America a leader in new crypto developments and attract more businesses.

AI Needs Crypto and Crypto Needs AI

Reverie by Daniel Cawrey • 0 implied HN points • 16 Jan 25
đź”® Crypto Blockchain Cryptocurrency Decentralization Fintech Artificial Intelligence
  1. AI and crypto are becoming closely linked, creating new ways for them to work together. This new relationship is called decentralized AI, which uses crypto for incentives.
  2. Blockchains provide useful features for AI and can help reduce costs and improve payments. This means AI can become more efficient with lower fees and without borders.
  3. As AI evolves, it will likely rely more on crypto for resources, like paying for data sharing or using marketplaces. This could lead to big changes in how we use AI in the future.

The Crypto Currency Debate: Future of Money or Speculative Hype?

Musings on Markets • 0 implied HN points • 02 Aug 17
đź”® Crypto Cryptocurrency Blockchain Investment Financial Markets Decentralization
  1. Cryptocurrencies like Bitcoin and Ether have seen huge price increases, but they are still new and not widely used for everyday transactions.
  2. The blockchain technology behind cryptocurrencies is real and valuable, but for these currencies to succeed, they need to be more reliable and accepted as money.
  3. Many people are interested in cryptocurrencies as investments more than as actual currencies, which makes it hard for them to be used for purchases.

Analyst Spotlight: Aave Overview

Coin Metrics' State of the Network • 0 implied HN points • 04 Mar 26
đź”® Crypto DeFi Lending Governance Stablecoins Tokenomics Risk Security
  1. Aave uses conservative, asset-level risk controls like collateral rules, supply and borrow caps, and kinked interest-rate curves to reduce sudden liquidations and protect users.
  2. Revenue from Aave’s lending markets and the GHO stablecoin funds protocol development, security incentives, and AAVE token buybacks.
  3. Governance is driven by AAVE tokenholders, but development influence is split between the Aave DAO and Aave Labs, which raises questions about how fully decentralized control is.

Perpetually Open: Tokenized Gold & The Rise of 24/7 Onchain Markets

Coin Metrics' State of the Network • 0 implied HN points • 10 Mar 26
đź”® Crypto DeFi Tokenization Derivatives Commodities
  1. Onchain markets run 24/7 and can price macro assets in real time when traditional exchanges are closed, providing continuous price discovery during geopolitical shocks.
  2. Tokenized gold and onchain commodity perpetuals saw big flows and trading activity as investors used them for hedging and quick exposure to metals and oil.
  3. Permissionless perpetual platforms like Hyperliquid’s HIP‑3 have become meaningful venues for metals, energy, and equity exposure with rising volume and open interest, though liquidity and regulatory constraints mean the ecosystem is still early.

Miner Weekly: A Record Low for Mining Revenue?

Miner Weekly • 0 implied HN points • 08 Oct 22
đź”® Crypto Regulation Corporate Hardware News Features
  1. Bitcoin mining difficulty is expected to increase by 13% on Monday, which might lead to record-low mining revenues
  2. If the difficulty rises and Bitcoin's price remains stable, daily mining revenue could decrease significantly
  3. Public mining companies are already facing squeezed gross margins and upcoming production updates may reveal further challenges ahead

Miner Weekly: Who're mining at a loss?

Miner Weekly • 0 implied HN points • 12 Nov 22
đź”® Crypto Mining Bitcoin Companies Hardware Features
  1. Bitcoin miners may face challenges with profitability if the price of BTC drops below $14,000.
  2. The concept of Hashcost is introduced, showing the raw cost a mining fleet would incur in 24 hours to produce 1 PH/s of hashrate at different energy rates.
  3. Public mining companies could be operating at close to zero or negative gross margins as bitcoin trades around their break-even levels.