ON–041: Layer 1s (Part 2)
Coverage on Cosmos.
Oct 2, 2020
- Another way to illustrate this effect is to look at the ratio of a long-term supply band over a short-term band. The following chart shows the ratio of supply held for 1-2 years over supply held for 7-30 days. The ratio has historically peaked during periods where price is decreasing or going sideways and hit lows as price peaks. Currently the ratio is at levels similar to January 2016.
- The percent of BTC supply held for at least 1 year continues to grow and has had a significant uptick since the March 12th crash. As of September 30th, over 63% of the total BTC supply has been held for at least a year, which is the highest level since 2012.
- Simultaneously, the number of addresses holding at least 0.1 BTC has also had a noticeable uptick since March. This suggests that more users may be joining the network as HODLing increases.
Contributor: Griffin Anderson
- Ethermint v0.1.0 has been released. A scalable, high-throughput PoS blockchain, fully compatible and interoperable with Ethereum Smart Contracts. (Source: Ethermint Documentation). The repo has already grown to 140 stars and 235 forks.
- Binance became the #1 validator on Cosmos Hub with 7.27% of voting power. Community members are noticing a consolidation of voting power among centralized crypto exchanges and top validators. (Source: Cosmo Scan)
- The Bonded rate of ATOM’s rose from 63.8% to 63.9%, while inflation rate remained at 7%. As of Oct. 1st, 2.4M ATOM’s are delegated and daily transactions are around 4k+.
- The Cosmos Community is also experiencing its own explosion of DeFi activity, as projects look to replicate the success of popular DeFi dApps on other networks. (Source: @hu_zhiwei)
