About the Weekly Shift Round-Up: Our new weekly free round-up covers the major crypto news from the week, price action and is the place to keep up to date with Collective Shift’s socials or free content. Delivered every Friday.
Welcome to the first issue of the Weekly Shift Round-Up for Friday 31st of December.
This will become the place for members and non-members to keep up with the week’s crypto news and check out the best bits of Collective Shift’s socials and our free content.
This is a new weekly newsletter that will be emailed every Friday to non-members.
👇 Summary
2021 has been a milestone year where cryptocurrencies have truly been put on the global map. Here is what’s in this issue:
- Alpha about the new Collective Shift Discord
- Big Christmas airdrops
- NFT marketplaces heating up
- Dipping and stagnant crypto markets
- Gaming and NFT analysis from the community
📣 Announcements
We wish you a fantastic holiday period and hope everyone can take some downtime in what has been an action-packed 2021!
Expect slightly slower response times from the team and free Collective Shift content over the next couple of weeks and holiday period as we prepare for a truly blockbuster 2022!
In some big news, we have launched our brand new Discord server for our members! Keep your eyes peeled for new free channels which will become available in the new year…👀 Members can check out the announcement and link in the CSCC.
📆 The Week In Crypto
Huge Christmas Airdrops
A range of new cryptocurrencies were airdropped to active crypto users interacting on selected blockchains or dApps. Three of the biggest included OpenDAO, DappRadar and GasDAO.
- OpenDAO: $SOS is available to claim for selected past OpenSea users.
- DappRadar: Distributed $RADAR to past users of Ethereum dApps and registered DappRadar users.
- GasDAO: $GAS is claimable for those who’ve spent >$1,559 in gas on a time-adjusted basis. Like, OpenDAO, the value or purpose of GasDAO is unclear.
Shift takeaway: It’s essential to consider the purpose of these organisations and why the tokens may accrue value. But it shows how users who participate in the ecosystem are often rewarded.
NFT Marketplaces Gear Up For Big 2022
This week GameStop fuelled speculation of an upcoming NFT marketplace, calling on creators to make NFTs on its platform. Kraken followed suit with new details of their own NFT marketplace.
Shift takeaway: NFTs look like they’re sticking around in early 2022 as growing competition between NFT marketplaces heats up. With Coinbase NFT also set to go live in 2022, keep your eyes peeled for more NFT mania.
Polygon ‘Critical Bug’ revealed
Polygon was at risk of losing $24B worth of MATIC due to a serve bug in its smart contracts. Polygon underwent a hard fork to fix the bug on Dec. 3 but only alerted the community to the vulnerability this week. This has been fixed and no longer poses a threat.
EDIT: The Polygon team paid a $3.46M bounty to the white hat hacker who spotted the issue.
Shift takeaway: The vulnerability is a reality check for the industry and investors—a reminder of the real and significant risk vulnerabilities in smart contracts pose.
LUNA Hits an All-Time High, UST and DeFi Rise
Amid a week of airdrops, LUNA hit an ATH of $103 on Dec. 27, as its stablecoin UST used >$10M in market cap. It comes as Terra surpassed Binance Smart Chain (BSC) in the last week as the second-largest blockchain by TVL.
Shift takeaway: Tools to bridge assets across blockchains are becoming easier to use—Wormhole allows you to transfer various tokenised cryptocurrencies across Ethereum, BSC, Terra, Polygon and Solana. Ensure to check available markets and redeem your assets to unwrap. The rise in LUNA is also influenced by its relationship with UST’s growing supply.
Source: DeFi Llama
📈 Markets Recap
It’s been another tough week for cryptocurrency markets—in the last 7 days (at time of publication), BTC and ETH remain -3% and -6%, respectively.
Much of the trading volume remains relatively low, with BTC remaining fairly stagnant or trading sideways in the past couple of weeks.
Despite BTC reaching above $50K, it’s been unable to hold this price point as it edges lower—hovering around $46–48K. So far, BTC has been able to stay above $45K—however, if it dips below, it could begin entering its lowest value since October 1.
ETH has fallen slighter harder than BTC, hovering around $3.7K. For a brief moment, ETH fell <$3.6K—only the second time since mid-October.
Worth noting, BTC and ETH are both trading -32% and -25% from their all-time highs set on November 10. It will be a significant next few weeks for the 2 largest cryptocurrencies, and if they fall further, it will be telling to see how much buy pressure is left in the market.
🎥This Week’s Collective Shift Content
📺 YouTube
Weekly Project Discovery with Nathan Gurr (Dec. 28th)
Projects discussed include Cask Protocol, rollfi, Token Homes, Web3 University and more! Watch the full breakdown on our YouTube.
🎙Podcast
On the go? Listen to the Macro & Crypto Reports via Podcast!
🧾 This week’s free Team Insight
This week’s free Team Insight saw Checkmate cover the state of realised profit and loss, drawing analogies to past market cycles.
TL:DR: It’s been a very quiet last couple of weeks in BTC on-chain metrics, with coins on the move not realising profits or loss and remaining very flat.
Read the full Team Insight in your inbox or at this link on our Website.
📝Best From The Collective Shift Community
Facebook community (CSCC)
Active community members discussed a range of interesting NFTs from Alethea AI and Animetas, among others—sharing their experiences navigating the world of NFTs!
Discord
There’s been fantastic discussion in our premium Discord server analysing the play-to-earn (P2E) gaming economies and members sharing their favourite P2E games.
Twitter
MetaMask continued to have a historic year, with the protocol ticking over $250M in revenue as speculation ramps up into 2022 about a possible MetaMask token.
🎗Wrap Up
It’s been a big 2021 for crypto and Collective Shift; we look forward to the year ahead.
We’ll see you in 2022 for the next Weekly Shift Round-Up! And for members, we’ll continue to keep you up to date with the latest research, analysis and information across the crypto landscape.