Solana takes the cake on these fronts as it outperforms Ethereum
According to Flipside’s statistics, daily swap transactions on Solana spiked to 9.25 million on Dec 25. In comparison, Ethereum could only clock 135,000 transactions.
Over the last week, Solana-based DEXes logged trades worth $10.74 billion while Ethereum only executed $9.42 billion in trades.
65% of DOGE holders are profitable
According to data gathered by analytics firm IntoTheBlock, 65% of DOGE holders are profitable on their investments.
In addition, 6% of investors are breaking even and 29% are losing money from holding this coin.
Highlights of the week
1. Tether mints another billion $USDT
2. $BTC rally this year topped stocks and gold
3. $ADA maintains dominance in developer activity charts
4. $ETH long-term holders supply achieved record numbers
5. Fuse Network partners $MATIC to introduce ZK-powered layer-2 network
6. Over 8 trillion $SHIB1000 have been withdrawn from crypto exchanges since November
PancakeSwap community approves removing 300 million tokens from supply
On Thursday, the multi-chain decentralized exchange project posted a vote proposal to reduce the maximum token supply of CAKE.
The voting period has concluded, and the final results reveal a 97.88% majority in favor of reducing the maximum supply from 750 million to 450 million.
Over 28,000 BTC left central exchanges in just 1 day
Glassnode pointed out that on Wednesday, just over 28,000 BTC worth $1.19 billion left the central exchanges.
This figure was the largest single-day outflow in terms of BTC since December 14, 2022.
SHIBA INU burn rate spikes over 2,700%
According to Shibbburn, in the last 24 hours, the SHIB burn rate spiked by a whopping 2,752%, with more than 14.8 million SHIB incinerated in total.
A total of 33.8 billion tokens were burnt this month. In all these, the SHIB community has removed 410.69 trillion tokens from the initial SHIB token supply.
Top 3 best-performing cryptocurrencies of 2023
3 of the best-performing cryptocurrencies in the Top 10 coins with the largest market capitalization:
1. SOL: Up 1,000.77% in YTD
2. AVAX: Up 283.29% in YTD
3. LINK: Up 192,824% in YTD
Whale accumulated 1,335 BTC
According to Whale Alert, in the last 24 hours, 1,335 BTC was transferred from Coinbase to an unknown wallet. This amount of BTC is worth $56,252,449.
Polkadot experiences surge in on-chain activity and transaction fees
Polkadot witnessed a massive increase of 1,218% compared to the total fees collected the previous week.
The increase in fees came along with more than a doubling in daily active users. An average of 15.3 thousand users connected to the network daily during this period.
Argentina introduces comprehensive crypto regulation bill
Argentina’s President Javier Milei has introduced a comprehensive bill to regulate both domestic and foreign cryptocurrency assets.
This legislation offers a suitable tax rate for Argentine citizens who declare their crypto assets, regardless of their origin or location.