Share this page!

Chris Burniske Profile picture
Twitter logo
17 May, 7 tweets, 4 min read
#Ethereum: Total transaction fees, also known as network revenue, increased 200x to $1.7 billion in Q1 2021, compared with $8 million in Q1 2020. -@draecomino
draecomino.substack.com/p/ethereum-q1-…
#Ethereum: Total transaction volume on Ethereum increased 20x to $713 billion in Q1 2021, compared with $33 billion in Q1 2020. -@draecomino
#Ethereum: Daily active addresses, a proxy for daily active users, increased 71% to 607k in Q1 2021, compared with 364k in Q1 2020. -@draecomino
#Ethereum: Decentralized exchange (DEX) volume increased 76x to $177 billion in Q1 2021, compared with $2.3 billion in Q1 2020. -@draecomino
#Ethereum: Decentralized Finance (DeFi) total value locked increased 64x to 52 billion in Q1 2021, compared with $0.8 billion in Q1 2020. -@draecomino
#Ethereum: NFT art sales increased 560x to $396 million in Q1 2021, compared with $0.7 million in Q1 2020. -@draecomino
You only get this kind of growth in an open, global, grassroots network: draecomino.substack.com/p/ethereum-q1-…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Chris Burniske

Chris Burniske Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @cburniske

Chris Burniske Profile picture
10 May
In the turbulence of 2019, @placeholdervc would run optimistic exercises to stay grounded. This was one:
We now run a combination of optimistic and pessimistic exercises from #crypto's current perch.

People naturally asking, when's the top?

The truth: no one knows, exactly.
While we're in one predicted range at $2.5T in total #crypto value, the vibe from 2021 is supply inflation, speculation, and innovation. People saying, Up Only.
Read 10 tweets
Chris Burniske Profile picture
9 May
1/ @placeholdervc has always encouraged networks allowing people to earn the majority of a native cryptoasset, but liquidity mining has become a wolf in sheep’s clothing.
2/ Speaking with a team recently that’s building on a newer layer-1, they asked us if we, as an institution, *wouldn’t* stake.

Stating that in their ecosystem investors are foaming at the mouth to liquidity mine, but it’s clear those investors are short-term oriented.
3/ As @jmonegro has analogized, you wouldn’t take dividends from a company at the Series B stage, so why are we encouraging institutional investors to sap early rewards from the broader community?
Read 10 tweets
Chris Burniske Profile picture
8 May
Price tweets get the most CT play because culturally we’re obsessed with money.
Money is the most liquid and fungible capital, convertible with varying amounts of slippage into other types of capital.
Culturally we made this trade to have money be *the* common denominator a long time ago.

It’s been amazing for “productivity,” but appears increasingly imbalanced.
Read 4 tweets
Chris Burniske Profile picture
5 May
Every doge has its day.

But watch out for the days after "its day."
While $DOGE makes me queasy for what happens after this parabolic rise, there's a part of me that's also amused.

As the world gets increasingly automated, stripping humans of our meaning from work, we turn more to self-reflection (on the absurdity & wonder of life).
Different forms of art provide this self-reflection, and similar to @EpsilonTheory's recent post on #Bitcoin , $DOGE (with Elon's help) is making its own artistic statement on society.

If it makes you sick, it might be doing its job.
Read 5 tweets
Chris Burniske Profile picture
2 May
Innovation concentration is higher in bear markets than bulls.
Bull markets bring a flood of attention, capital, and talent, which expands crypto’s reach.

But they’re also awash with noise, and as values rise complacency can settle in even amongst the committed.
In bear markets, investors and entrepreneurs both feel a sense of urgency.

Even if they retain conviction, the world and Mr. Market is screaming they’re wrong.
Read 7 tweets
Chris Burniske Profile picture
28 Apr
The 0 to 1 moment is an institution seriously considering a #cryptoasset like $BTC at all.

Once there, stepping into the rest of crypto is incremental in comparison.
Cryptoasset purity was important for establishing $BTC's credibility in the early knock-off altcoin years.

With the credible innovation we now see in the rest of crypto, such purity will soon appear just as antiquated as the Puritans.
Once a trend is established, people naturally ask:

What's next?
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @cburniske has new unrolls!

Check out other threads from @cburniske!

Read all threads by @cburniske

:(