gm to anyone still reading this newsletter and not done with crypto yet.
LFG!
Markets
Here are today’s market moves:
Here's what you need to know:
DeFi users pay the price using Solana
The Solana network was down again for 48 hours, but this time users who took loans were forced to pay the price as they faced heavy liquidations.
The issue was caused by “excessive duplicate transactions” done by bots and was resolved on Sunday, after the release and adoption of v1.8.14, which was designed to “mitigate the worst effects of the issue.”
The network has suffered multiple issues within the last few months, and this current incident is the second in January.
JP Morgan’s abusive display of power
Uniswap is a multi-billion market cap trading platform that does revenue comparable with the likes of Robinhood.
Banks shutting down accounts of individuals just because they work in what could be perceived as a competitor industry should never be tolerated.
Mayor of New York received first pay-check in crypto
Now might not be the best time to get paid in crypto but Eric Adams isn’t backing out and received his first paycheck in Bitcoin and Ethereum.
According to the New York Post, the NYC mayor receives biweekly paychecks of about $5,900, amounting to a salary of $258,750 a year.
Bitcoin getting cleaner by the day
Bitcoin mining now appears highly sustainable in terms of energy consumption contrary to previous criticisms, with the latest data from the Bitcoin Mining Council showing that as much as 46% of miners were using efficient power sources and methods of mining the cryptocurrency by the last day of 2021.
Source: Bitcoin Mining Council
Crypto lingo of the day
HODL:
“HODL” that was started to get popular by a meme post in 2013. HODL does not mean "hold on for dear life". That was just a drunk guy misspelling the word HOLD. It means to HOLD the crypto and not sell.
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