💰 The state of Ethereum in 4 charts

Gm, this is the doodhwala, your friendly yaar, that’ll give you all the pyaar, you call us your crypto bazaar

Here’s what we got for you today:

• The state of Ethereum in 4 numbers

• Zero se Marketplace Hero

• Crypto doodhshots: Sitharaman eyes crypto

• Milky Meme of the day

The state of Ethereum in 4 numbers

1 million - the number of daily transactions on the Ethereum blockchain since January 2021.

That’s nearly 22 months with transactions in the range of 1 to 1.6 million transactions per day.

Who’s accounting for the most transactions:

• Uniswap: A decentralized exchange to swap tokens

• Tether: A stablecoin pegged to the US dollar

• OpenSea: An NFT marketplace to buy and sell collectibles

🦊 BONUS: Metamask is all the down to 1️⃣4️⃣the place with just 53k transactions in the last seven days.

23.5 million — the number of ETH on cryptocurrency exchanges.

A TON of ETH on exchanges is not a good thang because it means hodlers are looking to sell.

Right before the Merge, hodlers rushed their ETH to exchanges — hoping to dump it if the price went down.

After the Merge, hodlers rushed their ETH outta exchanges — hoping to hodl it since the price didn’t change.

Between Sept 9-15 👉 Over 2.2 million ETH worth $3.4 billion was sent to exchanges.

Between Sept 15 - today 👉 Over 2.5 million ETH worth $4 billion was removed from exchanges

The people want to HODL. At least for now!

14.7 million - the number of ETH staked on Ethereum 2.0, the upgraded version of ETH with the proof-of-stake mechanism.

More ETH is staked on Ethereum 2.0 ($24 BILLION) than the combined valuation of:

🛵 Swiggy

📱 Paytm

💳 CRED

And the 2.5 billion ETH moving outta exchanges, is moving directly into staking.

The biggest stakers are:

$320 million — the monthly trading volume of Ethereum NFTs on OpenSea.

That’s the lowest volume in over 15 months! 😱

Here’s how the NFT market panned out in 2022

• January 2022: $4.8 billion [peak ⛰]

• May 2022: $2.5 billion [Luna crash 🌙]

• June 2022: $700 million [Bear market confirmed 🐻]

• August 2022: $500 million [Are NFTs dead 💀]

• October 2022: $320 million [NFT?! I never knew the guy 🫣]

The ONLY reason to travel to Whitefield

We get there’s no reason to go travel to Whitefield.

Except one 👉 Metamorphosis 2022.

What is it?

It’s a conclave, conference, exhibition, amusement arcade, and a party, depending on the time and the room you’re in.

But it's all web3 and crypto! Register here 👇

Zero se Marketplace Hero

What do you do when your visionary and innovative web3 product fails?

• start a newsletter and write about your “journey”? No

• work on building a better version of the company? lol NO

• launch an NFT marketplace? HELL YEAH!

This is exactly what STEPN did when their popular move-to-earn game failed during the crypto winter. 😬

Y’all remember STEPN right?

The game that made you get off your ass to earn some tokens like a degen.

Things went so bad for them that there was just ONE active user towards the end. 🥲

So the creators shut shop and launched MOOAR.

It’s an NFT marketplace on the Solana and Ethereum network. 🤦‍♂️

But even though every chaiwala, sabziwala and doodhwala is launching an NFT marketplace, MOOAR promises to be different.

How exactly? 🤨

• Compulsory creator royalty between 0.5-10%

• No platform fees

• BUT…users pay a monthly $30 subscription fee

• And you can trade all NFTs not just those STEPN sneakers

Is the monthly fee a good thing? 😇

Well…if you trade NFTs like us broke bois i.e trade very rarely, then you’d be better off paying the small platform fee every time you trade.

But if you’re a degen trader like we wanna be, the one who trades more NFTs in a day than we do in 7 lifetimes…

…then this monthly subscription fee might seem like a steal!

So MOOAR may not be for everybody but it’s certainly a platform for somebody. 😅

Crypto doodhshots: Sitharaman eyes crypto

💰 Crypto payments and regulation is on Nirmala Sitharaman’s plate at the G20 India will take over the presidency of the G20 and make crypto regulations a priority

🤡 Elon Musk caused a dump in [fake] Dogecoin prices Over 67 fake $DOGE tokens were pumped and dumped on Ethereum and BSC

😉 Hodlnaut founders play Hide-n-seek with the court and users The bankrupt crypto lender lied about its exposure to Terra Luna

💔 The Maker of MakerDAO meets his maker at the young age of 29 Nikolai Mushegian’s body was found on a coast in Puerto Rico last week

⛔️ Galaxy Digital a crypto financial services giant will layoff 20% of its staff CEO Mike Novogratz got a Luna tattoo earlier this year

Milky Meme Of The Day

People out there spreading lies about doodhwala’s merch 👀

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.