So does that mean Tron and Binance are “winning”? Not so fast. The data also shows that daily active users on Tron are down about 90% from their all-time highs, and on BNB Chain, it’s down about 85%.
But on Polygon, the number of daily active users has risen about 100% from all-time lows, a sign perhaps that the Ethereum sidechain is attracting more users thanks to Ethereum’s own high fees. In the past seven days, daily active users on Polygon have exceeded those on Tron and BNB Chain, according to Token Terminal’s data.
Seven-day average of daily active users. (Token Terminal)
Even with all of the regulatory scrutiny on the crypto world, and the U.S. Securities and Exchange Commission’s (SEC) hardball stance on blocking Bitcoin futures exchange-traded funds, the agency is willing to let a couple of rigs through. The SEC gave the green light to two new leveraged bitcoin ETFs, one from the crypto investment firm Valkyrie and the other from the Direxion Asset Management. The SEC has yet to approve a spot bitcoin ETF, but the launches of the new funds are a bit of a workaround for investors who want to get leveraged exposure to the asset, but can’t through a spot ETF. (See the story by my colleague Tanzeel Akhtar, below.)
The SEC is also still going after individuals for violations in the crypto space. This week, it charged the founder of Bitcoiin2Gen with fraud. So what is Bitcoiin2Gen, you might ask? It’s a now-defunct cryptocurrency project that was promoted by the likes of Steven Seagal, the actor perhaps best known for his role as a martial artist in the 1990s film, Under Siege. The SEC said Seagal was a paid celebrity endorser of the project. The SEC also charged Kristijan Krstic, the project’s founder, with fraud. (See the story by my colleague Nikhilesh De, below.)
Further reads:
The wild world of NFTs and social media influencers, explained by my colleague Will Gottsegen in a story about a young woman, Gaby, who sold a video of herself for $65,000.
The digital yuan’s next stop, explained by my colleague Michael Casey in a story about the Chinese government’s plans to extend the use of its digital currency to the Winter Olympics in Beijing next year.
What is the future of surveillance and privacy, explained by my colleague Ben Powers in a story about the risks that new technologies pose to our privacy, and how we can protect ourselves.
How The Balance of Power Is Shifting in Crypto, explained by my colleague Christopher Brown in a story about how regulatory scrutiny and market forces are shaping the power dynamics within the crypto industry.
How Bitcoin’s Taproot upgrade could change the game, explained by my colleague Tanzeel Akhtar in a story about the coming changes to the Bitcoin network and its potential impact on users and investors.
What happens to your crypto after you die, explained by Tanzeel Akhtar in a story about how to ensure your digital assets are passed on to your heirs correctly and securely.
The Crypto Industry’s Role in Reducing GHG Emissions, explained by my colleague Kollen Post in a story about how the crypto industry can help mitigate the effects of climate change by switching to more sustainable energy sources.
The NFT market is still hot, according to my colleague Tanzeel Akhtar in a story about how sales of non-fungible tokens are still going strong despite the recent market turbulence.
Crypto mining is no longer just for China, explained by my colleague Andrew Thurman in a story about how the global crypto mining industry is evolving and shifting away from China.
