Ethereum users have boosted their collective stake in the blockchain over the past month, even as prices spike.
Bitcoin is doing well but it smells like altcoin season out there — with a hint of wet dog.
Dog coins dogecoin (DOGE), bonk (BONK) and shiba inu (SHIB) lead the top end of the market with gains between 32% and 25% over the past day.
Bitcoin (BTC) and ether (ETH) had managed about 6.5% as of 7 am ET, still a sizable gain considering their scale.
Arweave (AR), the “permaweb” blockchain geared for decentralized file storage, continues to enjoy a moment, also climbing by a quarter.
AR is the second-best performing top-100 crypto after PEPE over the past week. Arweave has tapped into AI hype, having just launched a testnet for an adjacent blockchain built to power decentralized computing.
Ethereum holders on the whole continue to stake their ETH as prices reach nearly two-year highs.
Barring this Tuesday, there has been more ETH queued to be staked than unlocked every day this month. Another 13.4% of the supply (16.1 million ETH worth $54.4 billion) is kept in the network’s DeFi apps after dropping half a percent overnight.
Newly-launched re-staking platform EigenLayer just surpassed Maker — the protocol behind major stablecoin DAI — now with 2.85 million ETH ($9.7 billion), a figure that tripled this month.
Volatility came for crypto stocks yesterday, with only four rising across Wednesday’s session and into after hours trade.
Nevada-headquartered CleanSpark is on an acquisition spree, buying up three Mississippi data centers with aims to boost its hashrate by more than 15 EH/s, the equivalent of around 2.8% to bitcoin’s total right now.
Hut 8 however has lost 34% year-to-date amid leadership changes and a “merger of equals” with US Bitcoin Corp. The dip especially hurts considering bitcoin has climbed more than 40% and threatens new all-time highs.
Source: David Canellis – blockworks.co