Fekri 6 minutes reading from Bitcoin

This Week in Crypto: ECB Declares Bitcoin Dead, General TVL Increase in DeFi, and More

This Week in Crypto:

- ECB declares bitcoin dead - General TVL increase in DeFi - Large investors accumulating BTC - Animoca Brands plans to invest 2B in the Metaverse - 5 interesting reads

🧵Let’s dive in

ethereum eth crypto bitcoin blockchain defi nft web3

I will cover:

1. General market update

2. DeFi updates 3. Product launches and fundraises 4. Interesting reads

For the full version, please read the article:

This Week in Crypto 3

1. General market update

Jerome Powell's recent dovish talk has led investors to expect fewer rate increases in December. Markets are now expecting a 50 basis point hike in December 2022 and a 50 basis point hike in February 2023.

Overall, the markets still expect a recession to come, in what is currently the most anticipated recession ever.

Meanwhile, Eurozone inflation declined to 10% in November, its first monthly drop in nearly a year and a half.

With Eurozone inflation still at extremely unacceptable levels, it was particularly interesting to see the ECB publishing an article where they declare Bitcoin dead.

Yet another publication that can be added to the Bitcoin Obituaries, a website that keeps track of how many times Bitcoin has been declared dead (currently at 467).

Bitcoin Obituaries - "Bitcoin is Dead" Declared 400+ Times


Bitcoin is currently in a bearish phase, but with slow progress towards a potential bullish shift. The price has remained stable below 17,000 and reached a new three-week high of 17,300. However, its performance compared to US stocks has been disappointing.

Following indicators are positive:

- The supply held by entities with 10-100 BTC has seen its biggest increase since 2017.

- The high percentage of Bitcoin's supply that has not moved in over a year, remains unchanged.


Polkadot and Ethereum have been alternating the 1 and 2 spot.

This week we see Polkadot back as 1.

In terms of weekly active developers, Ethereum is still king with more than twice as much active developers as Polkadot.


- Increase in TVL amongst every single chain except for Binance Smart Chain with almost a 10% decrease in TVL.

- Major TVL increases can be seen across Arbitrum (7.39%) and Avalanche (8.33%).

- Every chain adds between 1 & 5 new protocols this week.


Ethereum in first place with more than 13.9 million in fees & Binance on the second spot with 4.9 million.

Over the last 7 days we can

notice an increase in fees among Ethereum, Binance, Avalanche and Solana & a decrease amongst all other chains.

Biggest increase in TVL amongst protocols with TVL higher than 1M:

@cega_fi @CIAN_protocol @tokenlon @goldfinch_fi GFI @sommfinance SOMM @CeloOrg

Best and worst performers of the week amongst fee-generating protocols:

- Blockchains with the most revenue last 7 days:

- Protocols/dApps with most revenue last 7 days:


Fekri on Twitter

Featured in this week's interesting reads:

@tokenterminal Andre Cronje @thiccythot_ @milesdeutscher @fekdaoui

Check out the article for the links!

This post is based on this twitter thread.


Please login to comment.