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GM and welcome to another CoinStats Scoop! 💫 Here’s an overview of this week’s edition:

• Providing a market update full of the welcomed sight of green numbers!

• Updating you on the impactful news and developments of the week

• Examining Stripe’s recent announcement & the inevitability of crypto adoption

• Reading and thinking through principles to evaluate crypto with

• Wrapping things up with takeaways of the week & what to watch moving forward

Market Overview

As you can see from the below screenshot, our beloved tokens enjoyed a nice bounce back week! 🤑  The broad market was once again led by ETH’s ongoing strength as it gained 6% this week. BTC also joined the party posting a good return of 4%! Along with BTC & ETH gaining, the total crypto market climbed higher and is back to approaching 900 billion!

Per usual, when BTC and ETH rally, tokens throughout the entire crypto ecosystem rally along side them. Gains were to be had throughout all sectors of crypto but were lead by MAGIC appreciating a whopping 100% (!!) on news of its upcoming Coinbase listing and the launch of its new game The Beacon.

Elsewhere across the ecosystem, DeFi followed ETH’s lead as some of the top performers of the week included SUSHI +13%, UNI +14%, GMX +20%, RUNE +13.5%, RBN +22%, and YFI +8%. Speaking of following ETH, L1 and L2 tokens usually gain when ETH does as traders and market participants play the correlations. This week was no different as FTM +30%, MATIC +8%, ZEC +10%, AVAX +7%, and IMX +17% all enjoyed rallies.

Two other notable token performances were APE +12% & LINK +5% as they continued to rally ahead of their staking catalysts that are being implemented next week! As you can see from the below screenshot, it was a good week throughout the crypto ecosystem as tokens sustained their recent bounces from the FTX-induced contagion. 😤

News & Developments

Below are some of the most impactful announcements over the past week as adoption never stops! Numerous announcements, rising interest, and product development continue from some of the world’s biggest companies that plants the seeds for the next bull run and wider crypto adoption.

• Telegram, the social media giant, has sold $50M worth of blockchain usernames on its The Open Network token (TON) and Telegram also confirms that its building crypto wallets and decentralized exchanges (DEXs)

• Crypto gaming giant investment firm, Animoca Brands, is planning to raise $2 billion for a new metaverse investment fund

• MoonPay, crypto payments infrastructure provider, releases the “Web3 Passport” that uses non-transferable soulbound NFTs as loyalty program for its users

• OpenSea launches support for Binance Chain (BNB) NFTs

• BitDAO (BIT), a DAO with a $1.7 billion dollar treasury, launches a modular scaling Ethereum layer 2 network called Mantle

• Uniswap (UNI), officially launches their NFT aggregation platform months after it purchased NFT aggregator Genie in June

• Fintech company Plum is expanding its services to allow customers in France, Belgium, Spain, and Ireland to purchase BTC, ETH, BNB, SOL, & ADA

• Solana’s top crypto wallet Phantom is expanding its operations to ETH & MATIC

• OpenSea announces that creators have earned $1 billion in total revenue from royalty payments this year

• China’s 3rd largest company and e-commerce giant, Alibaba, expands their cloud services to support validators and infrastructure on AVAX

• Game7DAO launches a $100M grant program to accelerate crypto gaming

• Polygon’s MATIC joins indexing protocol The Graph (GRT) for easier dapp deployment

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The Future is Now

One of the core bottlenecks for crypto adoption is the ability of fiat (think all global currencies) to enter the crypto ecosystem. To interact with a dapp built on ETH, SOL, MATIC, etc. one of the most cumbersome steps is actually getting dollars into the ecosystem and inside crypto wallets.

Enter Stripe. Stripe is a global payments company that is used by an endless amount of companies and people across the world. Stripe currently has over 2 million worldwide customers and is used for payment processing by over 3.1 million websites! 🤯

stripe.com/blog/crypto-on…. ","username":"stripe","name":"Stripe","date":"Thu Dec 01 17:02:41 +0000 2022","photos":[{"img_url":"https://substackcdn.com/image/upload/w_1028,c_limit,q_auto:best/l_twitter_play_button_rvaygk,w_88/pb556gf1khz1miidqmnn","link_url":"https://t.co/raZ50juvxi","alt_text":null}],"quoted_tweet":{},"retweet_count":835,"like_count":3980,"expanded_url":{},"video_url":"https://video.twimg.com/amplify_video/1598360963530440706/vid/1280x720/DfMds5gMn1j1zMjM.mp4?tag=16","belowTheFold":true}">

Stripe @stripe

Introducing a customizable and embeddable fiat-to-crypto onramp: stripe.com/blog/crypto-on….

5:02 PM ∙ Dec 1, 2022

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This week, Stripe launched “an embeddable and customizable fiat-to-crypto onramp” and an accompanying blog post. The opening lines of their blog read, “It’s been a difficult few weeks in the crypto ecosystem. However, despite recent events, we remain excited about the underlying prospects for innovation.”

So, Stripe, one of the largest and most well respected companies in the world, remains optimistic on crypto and sounds a lot like what we’ve written over the past few weeks! Despite the recent events, companies inside and out of crypto, continue building towards advancing the crypto ecosystem! 🤑

Stripe joins the numerous global companies we’ve outlined in recent weeks that continue to build out their crypto strategies. As James says below, we continue to get steady growth which is arguably much better! It’s impossible to have a “crypto winter” like cycles past as the developments and adoption of crypto pushes forward despite the prices. Eventually, the prices will catch up to the adoption and we remain as optimistic as ever! 🌞

James Wang @draecomino

Contrarian opinion—there won’t be a crypto winter. There’s simply too much sustained user and builder activity for this to be ‘winter’. We didn’t get a supercycle, but instead we got steady state growth, which is arguably much better.

1:21 AM ∙ Nov 30, 2022

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Read of the Week

“Harsh Truths (Not Only) For Crypto Noobs” — @mattigags

Matti, lead investor at the crypto fund Zee Prime Capital, was kind enough to etch out his learnings across multiple cycles in crypto and provide us with some guiding principles for crypto moving forward.

1. “People will fall for individuals playing zero-sum games and profiting from imitation again and again” — when evaluating things in crypto, always ask the core question of, “Do I want this to be true or do I truly believe this is true?”

2. “It will not be easy” — it’s incredibly difficult to retain conviction throughout crypto cycles but we can always fall back on previous innovations such as, “we can conclude that DeFi and NFTs have laid the piping for new cycles of innovation”

3. “Some things might not survive” — “if you consider something as inevitable you will make no effort to work toward it…if enough people get complacent, no one will survive…treating the future as certain can lead us to complacency and the future may never arrive…our industry continues to thrive only if we continue to reinvent ourselves”

4. “Buying the dip will get you rekt” — “the point is you should buy when you have conviction that is independent of what the masses are saying, impulse buying is rarely a good idea”

5. “Wisdom of crowds will get you nowhere” — “the ability to be able to think for oneself is a rare commodity. also, it’s almost impossible to be able to think clearly during mania or depression.”

6. “Most of what you do, read, or touch will come to nothing” — always focus on identifying the outliers — “you may not see that you’re on an exponential path…even if you only have one great idea, build one great product, or make an investment in one single great thing, it’s all you need”

7. “Trying too hard rarely works” — “do not force it…the only way to make money in crypto is for the love of the game because only then can you stick around when most think this is a fool’s game”

One of the standout quotes for us is principle number 7. “Only then can you stick around when most think this is a fool’s game”. Prices have bounced nicely off the FTX-induced lows and we have likely reached the level across crypto markets and are nearing the point where confidence and conviction in the exponential growth of crypto will be rewarded!

Most outsiders are pointing to the prices and saying it’s a fool’s game while those who continue to build and stay plugged in will be rewarded down the line! This is exactly why we push forward and continue to improve our loved app and services while constantly bettering out products and launching new ones such as our Midas NFT tool! We’re comfy in optimism and conviction! 😤

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Tweets & Memes

A preview of the future of crypto with Solana’s phone using USDC for rapid purchases 🤯

@degenapecafe with a Web3 phone @solanamobile with a Web3 payment protocol @solanapay on a Web3 point-of-sale @Decaf_so.\n\nThanks to the time traveler who sent this video to us from 2027. ","username":"solanaspaces","name":"Solana Spaces","date":"Fri Dec 02 03:26:41 +0000 2022","photos":[{"img_url":"https://substackcdn.com/image/upload/w_1028,c_limit,q_auto:best/l_twitter_play_button_rvaygk,w_88/okp8nn8mthyfyv63shgg","link_url":"https://t.co/fxpU047vLO","alt_text":null}],"quoted_tweet":{},"retweet_count":190,"like_count":697,"expanded_url":{},"video_url":"https://video.twimg.com/ext_tw_video/1598518803318571008/pu/vid/1080x1920/923Z9omoNCuZvTlt.mp4?tag=14","belowTheFold":true}">

Solana Spaces @solanaspaces

This is a video from 5 years in the future. Paying for Web3 coffee @degenapecafe with a Web3 phone @solanamobile with a Web3 payment protocol @solanapay on a Web3 point-of-sale @Decaf_so. Thanks to the time traveler who sent this video to us from 2027.

3:26 AM ∙ Dec 2, 2022

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Blur’s NFT aggregation marketplace has displayed incredible strength

@blur_io has achieved ~90% volume market share amongst NFT aggregators. \n\nThis dominance has persisted nearly the entire month of November.\n\nBlur's second airdrop arrives Monday, December 5th. ","username":"Delphi_Digital","name":"Delphi Digital","date":"Thu Dec 01 17:13:44 +0000 2022","photos":[{"img_url":"https://pbs.substack.com/media/Fi6D8C0WQAAaZea.jpg","link_url":"https://t.co/U639KV5gKV","alt_text":null}],"quoted_tweet":{},"retweet_count":35,"like_count":195,"expanded_url":{},"video_url":null,"belowTheFold":true}">

Delphi Digital @Delphi_Digital

.@blur_io has achieved ~90% volume market share amongst NFT aggregators. This dominance has persisted nearly the entire month of November. Blur's second airdrop arrives Monday, December 5th.

5:13 PM ∙ Dec 1, 2022

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It’s been one heck of a year in crypto, thanks Spotify for the reminder!

#SpotifyWrapped is really on point this year 🤯 ","username":"coinstats","name":"CoinStats","date":"Wed Nov 30 20:20:01 +0000 2022","photos":[{"img_url":"https://pbs.substack.com/media/Fi1oWxYXECQOAxa.jpg","link_url":"https://t.co/Alo4XAQPK8","alt_text":null}],"quoted_tweet":{},"retweet_count":19,"like_count":48,"expanded_url":{},"video_url":null,"belowTheFold":true}">

CoinStats @coinstats

Wow, #SpotifyWrapped is really on point this year 🤯

8:20 PM ∙ Nov 30, 2022

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48Likes19Retweets

Wrapping Up

CHANGE THIS

Alright, with that hilarious reminder of how insane this year has been we’ll conclude this week’s edition of the CoinStats Scoop! 🍦

This week we covered the welcome rally in token prices across all the various sectors of crypto, emphasized the steady growing adoption of crypto highlighted by Stripe and Telegram, read about principles of investing and analyzing crypto that will enable us moving forward, and covered the news and developments of the week! 💪

As usual, CoinStats will continue to guide you through the world of crypto and DeFi. We’ll see you next week for another edition of CoinStats Scoop.

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