Weekly Newsletter
4 Jan 2022

A Subdued Start To The Year For Crypto Markets

What does 2022 have in store for crypto’s largest token? Many analysts expect institutional buy-in to continue driving prices.

Happy new year! It’s been a subdued start to the year for crypto markets as most major tokens post week-on-week losses; bitcoin is down 5% since last week to $46.7k, though still within the $45-50k range, it’s been trading in for most of the past month. So, what does 2022 have in store for crypto’s largest token? Many analysts expect institutional buy-in to continue driving prices. Jeff Dorman, Arca Funds’ CIO, wrote in his year-ahead outlook that “2022 will serve as further proof that digital assets are part of a secular shift rather than a short-term trade”, and expects institutions to become more sophisticated in the way they view digital assets. Another theme to follow closely is the ongoing development of crypto regulation. In the US in particular, market players hope that Congress will begin writing up novel, better suited frameworks for the regulation of digital assets and DeFi applications. A clearly communicated, well thought-out approach will clarify uncertainties and unlock the door for fresh institutional inflows — getting this right will allow for a flourishing digital asset landscape.

Despite lacklustre market moves, the bitcoin blockchain network has been firing. Daily average network hashrate topped 200 EH/s for the first time, setting a new all-time high at 207 EH/s. 7-day average network hashrate remains around the same highs set in December. High hashrate has propagated into increased difficulty, Christmas day’s small increase to 24.3T set to be followed later this week with a further increase to 24.8T — edging closer to May 2021’s 25.0T all-time high. Alongside a stagnant BTC, these small adjustments are resulting in a steady mining hash price, currently at just below $0.25. 2022 is set to be another exciting year in crypto, and another lucrative year to be a crypto miner — happy hashing!

Network Metrics

Lake Parime Bitcoin Network Metrics 2022-01-04T14:10:30.794Z

Mining Hardware Price Update

Lake Parime ASIC Machine Prices (Blurred)
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