How TechCrunch+ followed the roller-coaster crypto market in 2022

Trending 1 year ago

In 2022, the crypto assemblage roseate to caller heights — and past it crashed. We noted this arsenic aboriginal arsenic June 2022, before the FTX fiasco (which we’re utilizing arsenic the catchall word for the crash, alleged fraud, bankruptcy, congressional hearing, Sam Bankman-Fried‘s arrest successful the Bahamas, the telephone for his extradition, etc.).

However, this isn’t expected to beryllium an nonfiction chronicling FTX’s downfall from the past year — it’s a recap of our 2022 crypto coverage, which could besides beryllium seen arsenic a Jacquelyn Melinek highlights reel with a diagnostic from Alex Wilhelm.

Here’s immoderate of our apical 2022 crypto coverage:

Terra assemblage passes connection to revive LUNA cryptocurrency pursuing stablecoin-led implosion

In May, LUNA nosedived, and the marketplace followed suit. Terraform Labs laminitis Do Kwon shared a program to revive the Terra Ecosystem, including the enactment of a caller blockchain. Jacquelyn noted: “The motorboat of LUNA 2.0 volition beryllium a trial of whether the assemblage is arsenic beardown arsenic it says it is. But galore are wary of trusting Kwon and the Terra squad again aft the LUNA and UST downfall.”

Ethereum drops much than 17% aft ‘way overhyped’ Merge

In aboriginal to mid-September, whispers of “the Merge” were everyplace we turned an ear. A speedy refresher: The Merge was a highly anticipated lawsuit wherever Ethereum shifted from proof-of-work to proof-of-stake. It whitethorn person been overhyped.

Blue-chip NFT owners research alternate uses arsenic income decline

During the astir caller crypto bull market, the NFT subsector besides roseate to caller heights. As NFT income slowed, blue-chip NFT holders began looking for caller ways to profit. For the uninitiated: The word “blue-chip NFTs” derives from “blue-chip stocks,” which often notation to the astir invaluable companies connected the market. In this case, they’re the astir desirable oregon high-value NFTs. What are they worthy amid crypto winter?

Terra’s UST clang volition marque beingness harder for crypto arsenic regularisation looms

In May 2022, Terra UST crashed, which led to a propulsion for crypto regulation. “UST is an algorithmic stablecoin chiefly backed by its sister cryptocurrency, LUNA, but was besides backed by bitcoin. Founder Do Kwon antecedently told TechCrunch that plans were successful spot to backmost it with different cryptocurrencies implicit time. It’s unclear if that roadworthy representation is inactive successful spot for UST arsenic it tries to retrieve from its downfall,” Jacquelyn wrote. To regain the spot of traders and holders, the adjacent determination would beryllium regularisation … right?

Making consciousness of OpenSea astatine a $13B valuation

At the commencement of 2022, OpenSea raised a $300 cardinal circular astatine a $13.3 cardinal valuation. Alex did a heavy dive to fig retired however the caller (in January 2022) OpenSea valuation squared up with its revenues. You tin travel on with Alex’s postulation of information and computations to find whether the institution is underpriced oregon overpriced.

Source Techcrunch