[Weekly Readings] an Aftershock of FTX or an Omen of NFT Market Meltdown,Litecoin Continues To Show Strength

1.7 Emerging Crypto Coins that Will Explode Next Year

Some investors in the market were expecting 2022 to be a good year for crypto – at least before the debacle that was the Terra ecosystem crash and the even bigger collapse of FTX happened. Bitcoin has hit a two-year low and you can’t blame investors for being pessimistic in the short term.

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2.Bitcoin (BTC) Miners Started 'Most Aggressive Selling' in Seven Years

Analyst Charles Edwards, founder of Capriole Investments quantitative fund and author of many insightful crypto economics models, reveals that Bitcoin (BTC) miners have not been selling so aggressively since Q4, 2015.

"Bitcoin miner bloodbath": Charles Edwards on miner-driven BTC sell-off

Mr. Edwards shared the charts of the Bitcoin (BTC) price, mining expenses (log scales) and the amount of Bitcoins (BTC) miners are offering for sale. It looks like the entire segment is going through some tough days.

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3.Litecoin Continues To Show Strength, Overtakes Solana In Market Cap

Litecoin’s continued strength in recent days has seen the coin become the 15th largest crypto by market cap, unseating Solana from the spot.

Litecoin Observes Strong Week, Gains Over 9% During The Period

The last couple of weeks have been terrible for most of the crypto market, as the crash triggered by FTX’s collapse has resulted in double digital losses for much of the sector.

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4.Plummet of BAYC: an Aftershock of FTX or an Omen of NFT Market Meltdown

The FTX incident can be said as the "Lehman moment" of the crypto world that the spread of the event has gone far beyond expected within a rather short time. Both traditional centralized exchanges (CEX) and various investment funds have seen waves of damages from the FTX incident, and the crisis has begun to spread to the NFT market. This report depicts causes and effects of the plunge of BAYC in depth, follows up on consequences on well-known projects on the NFT markets and thoroughly analyzes the plummet of blue-chip NFTs. In such a drastic fluctuation, how should stakeholders of NFT react in a panic environment? How should investors respond?

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5.Can Token Burns Make Terra Classic Skyrocket?

Certainly, one of the collapses that contributed to the crashing cryptocurrency market was the Terra ecosystem. The former LUNA and UST tokens — currently known as LUNC and USTC — experienced a sharp fall in May 2022 when Terraform Labs’ algorithmic stablecoin lost its peg with the U.S. dollar.

Several investors at a loss was not Terra’s only legacy in the crypto ecosystem. As a result of the collapse, in addition to creating a new token and turning the old one into Terra Classic, the big crash brought trillions of altcoin units to the market.

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