New Year's Eve Update, On-Chain outlook, Edition #20 (31/12/2021)
Choppy price action wraps up the year for Ethereum & Bitcoin. Read on for the New Year's eve update on the latest On-Chain metrics 👇
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Volatility in Crypto starts the New Year Celebrations Early
The holiday period has proven choppy for both Bitcoin & Ethereum, with Bitcoin retracing its entire move from US$45K to roughly US$52K - in a matter of just a few days…
Amongst the choppy price action, there have been some clear winners with Layer 1 protocols outperforming.
Some examples may include Near ($NEAR), Cosmos ($ATOM) & Algorand ($ALGO)
The ZK Rollup narrative is still intact with Dusk ($DUSK) also making moves hitting an all-time high at US$1.17, which is particularly astonishing considering it was trading at only US 23 cents at the start of this month.
For today’s New Year’s eve update, let us refresh our on-chain supply metrics for Bitcoin & Ethereum…