Your Favorite Crypto Digest From TradeCrypto.com #173

Daily statistics update:

Today's market is red. BTC is trading at $16,000, ETH is around $1,100.

💪 Bitcoin dominance: 38.79%

📉 Total Cryptocurrency Market Cap: $793.20B

😲 Fear and greed index: 21 (Extreme Fear)

🚀 Gainers (Top-100)

• NEM (XEM) +2.59%

• Binary X (BNX) +0.53%

• TonCoin (TON) +0.06%

  😭 Losers (Top-100)

• Chiliz (CHZ) -15.52%

• EthereumPoW (ETHW) -13.47%

• Algorand (ALGO) -12.74%

Vitalik's very engaging 🤓, as always. The other day he tweeted a guide explaining the proof of reserves technology. The problem with this technology is that user data becomes exposed 🕵️‍♀️. Buterin suggested zk-SNARKs cryptography. Going further, he believes in self-custody on a 🏦 CEX. I'd like to know if the centralized exchanges agree 👍 to hand over control to their users.

CoinGecko clarified the situation based on the number of new users from Jan to Nov. Investors from South Korea, Japan, and Singapore contributed the most🔝to FTX before its lousy 📉 end. Singapore ended up on the list mainly because Binance walked away 🏃 from the country last year. And Japan, as we know, was popular with SBF, which bought the 🏦 local exchange there. Which, by the way, is also already bankrupt 🥵. 

Apparently, the billionaire investor is bored 🤔  with crypto. Nansen, Uniswap, Solana, The Block, DeFi Pulse, Dapper Labs, and MetaMask are no longer in Mark's sphere 🙅‍♀️ of interest. About FTX, Cuban simply said that SBF was very greedy 🤡. Don't worry. Mark isn't going anywhere, especially with such 💵 a blockchain portfolio. He proved once again his great investment with faith in smart contracts. NFTs👾, too, by the way.  

It's been quite a tough time😮‍💨 for NFT creators. A cool feature of NFTs is the monetary rewards💵 to the artists for the resale of their work 🤝.  Not so long ago, the major platforms decided to abolish it. Let's not point fingers. Ethereum-based NFT marketplace X2Y2 decided to go for creators-set royalties, following OpenSea's decision. Looks like the NFT community reached somewhat of a goal 💪.  

We continue to closely follow the story of the DSG group🔝🏦.  Recall that last week, the DSG subsidiary, Genesis, halted withdrawals due to the FTX collapse 🥵. Naturally, users of another subsidiary, Grayscale, the issuer of GBTC, wanted proof that the firm was doing well 🤔. Grayscale decided to make do with a Twitter thread containing the general motive, "you have nothing to fear. We assure you everything is fine." And the fear is growing 📈. Especially against unprecedented discounts on GBTC, which is 45% cheaper. Will DSG follow FTX into the funnel 😵‍💫? 

Conclusion: We're all in the same boat now. The market is red, much needs to be clarified, and, as has been said many times before, the degree of fear will only increase. It's good that the crypto community is handling it 😜. However, some big companies certainly can't take it. See you later.

What is Crypto Ping Pong digest?

TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.