{"id":61172,"date":"2022-05-09T13:23:26","date_gmt":"2022-05-09T10:23:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61172"},"modified":"2025-09-05T10:36:33","modified_gmt":"2025-09-05T07:36:33","slug":"april-2022-in-figures-market-correction-the-rise-of-algorithmic-stablecoins-and-nfts-second-wind","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/april-2022-in-figures-market-correction-the-rise-of-algorithmic-stablecoins-and-nfts-second-wind\/","title":{"rendered":"April 2022 in Figures: Market Correction, the Rise of Algorithmic Stablecoins, and NFT\u2019s Second Wind"},"content":{"rendered":"<div class=\"wp-block-monthly-reviews-top-blk review_top_blk\">\n<h2 class=\"wp-block-heading\">Key takeaways<\/h2>\n<ul class=\"wp-block-list\">\n<li>Leading cryptocurrencies closed the month in the red. Market capitalisation fell by 18%.<\/li>\n<li>Shares of public miners and related industry companies fell sharply.<\/li>\n<li>TerraUSD overtook Binance USD by market capitalisation.<\/li>\n<li>The NFT segment revived amid launches of new projects and infrastructure updates.<\/li>\n<li>The correlation of Bitcoin and Ethereum with the stock market strengthened amid expectations of tighter Federal Reserve policy.<\/li>\n<li>Total value locked in Avalanche smart contracts rose by 37%.<\/li>\n<li>Some on\u2011chain indicators signal Bitcoin is undervalued.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Dynamics of leading assets<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"489\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-5-1024x489.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172324\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-5-1024x489.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-5-300x143.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-5-768x366.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-5-1536x733.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-5.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"489\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT-4-1024x489.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172325\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT-4-1024x489.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT-4-300x143.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT-4-768x366.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT-4-1536x733.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT-4.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Bitcoin ended March at a yearly high but could not hold the range of $47,000-$48,000.<\/li>\n<li>During April, Bitcoin set new lows, finishing the month below $38,000.<\/li>\n<li>In early April Ethereum failed to hold above $3,500, closing the month near $2,700.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"418\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-monthly-2-1024x418.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172327\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-monthly-2-1024x418.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-monthly-2-300x122.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-monthly-2-768x313.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-monthly-2.png 1383w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin and Ethereum monthly dynamics. Data: <a href=\"https:\/\/www.coinglass.com\/today\">Coinglass<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"321\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-monthly-1024x321.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172328\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-monthly-1024x321.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-monthly-300x94.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-monthly-768x241.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-monthly.png 1380w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Bitcoin fell 17.3% over the month, and Ethereum declined 16.9%. A historically positive start to Q2 proved negative this time.<\/li>\n<li>Market capitalisation fell by 18% in April, from $2.05 trillion to $1.67 trillion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"503\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/gainers-22-1024x503.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172330\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/gainers-22-1024x503.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-22-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-22-768x377.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-22.png 1506w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Gainers &#038; Losers of the month. Data: <a href=\"https:\/\/messari.io\/screener\/monthly-gainers-(copy)-E99DF2E8\">Messari<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"502\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/losers-21-1024x502.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172331\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/losers-21-1024x502.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-21-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-21-768x376.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-21.png 1504w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<p>Against the backdrop of the broader correction, only low-capitalisation projects showed positive momentum. Waves (WAVES) was among the underperformers after in April the project\u2019s founder <a href=\"https:\/\/u1f987.com\/en\/news\/waves-founder-accuses-alameda-research-of-manipulating-waves-token\">accused<\/a> Alameda Research of manipulating the token price with the opening of a large short position. Token prices for Zilliqa (ZIL), Fantom (FTM), Harmony (ONE), and Axie Infinity (AXS) fell by more than 50%.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Cryptocurrency-related companies (as of close 30.04)<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>MicroStrategy (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MSTR\/\">MSTR<\/a>): <br \/><span style=\"color: #FA0021\">-27.6%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Coinbase (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-COIN\/\">COIN<\/a>): <br \/><span style=\"color: #FA0021\">-40.6%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Bakkt (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NYSE-BKKT\/\">BKKT<\/a>): <br \/><span style=\"color: #FA0021\">-38.1%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Galaxy Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/TSX-GLXY\/\">GLXY<\/a>): <br \/><span style=\"color: #FA0021\">-32.4%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Stock performance of mining companies (as of close 30.04)<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Canaan (CAN): <br \/><span style=\"color: #FA0021\">-35%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Ebang International (EBON): <br \/><span style=\"color: #FA0021\">-21.2%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Riot Blockchain (RIOT): <br \/><span style=\"color: #FA0021\">-50.8%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Hut 8 (HUT): <br \/><span style=\"color: #FA0021\">-35.7%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Marathon Digital (MARA): <br \/><span style=\"color: #FA0021\">-45.3%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>Public cryptocurrency companies and miners were not spared from two-digit losses.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">Macroeconomic backdrop<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"875\" height=\"553\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Ozhidaemaya-traektoriya-balansa-FRS.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172335\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Ozhidaemaya-traektoriya-balansa-FRS.png 875w, https:\/\/u1f987.com\/wp-content\/uploads\/Ozhidaemaya-traektoriya-balansa-FRS-300x190.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Ozhidaemaya-traektoriya-balansa-FRS-768x485.png 768w\" sizes=\"auto, (max-width: 875px) 100vw, 875px\" \/><figcaption class=\"wp-element-caption\">Fed balance sheet trajectory. Data: <a href=\"https:\/\/www.bloombergquint.com\/global-economics\/powell-seen-slowing-rate-hikes-after-may-and-june-front-loading\">Bloomberg<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In early May the Fed delivered the largest rate hike in more than 20 years \u2014 50 basis points. By year-end the main scenario envisages the rate at 2.75%-3.25% versus 1.9% in the Fed projections <span data-descr=\"\u0424\u0435\u0434\u0435\u0440\u0430\u043b\u044c\u043d\u0430\u044f \u0440\u0435\u0437\u0435\u0440\u0432\u043d\u0430\u044f \u0441\u0438\u0441\u0442\u0435\u043c\u0430\" class=\"old_tooltip\">Federal Reserve<\/span>. <\/li>\n<li>The tightening of monetary policy could create the preconditions for a recession. By the end of Q1, GDP contracted by 1.4% against expectations. By the end of April, the consensus among experts was that the economy would decline over the next 24 months for about a third of analysts.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"974\" height=\"448\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-fondovyh-indeksov-bitkoina-zolota-i-gosobligatsij-SSHA.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172336\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-fondovyh-indeksov-bitkoina-zolota-i-gosobligatsij-SSHA.png 974w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-fondovyh-indeksov-bitkoina-zolota-i-gosobligatsij-SSHA-300x138.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-fondovyh-indeksov-bitkoina-zolota-i-gosobligatsij-SSHA-768x353.png 768w\" sizes=\"auto, (max-width: 974px) 100vw, 974px\" \/><figcaption class=\"wp-element-caption\">Dynamics of stock indices, Bitcoin, gold and US Treasuries. Data:<a href=\"https:\/\/glassnode.substack.com\/p\/uncharted-14\"> Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In April the stock market resumed its downtrend. The Nasdaq Composite entered a bear phase, off its peak by 22.2%. The S&#038;P 500 fell by 12.78%.<\/li>\n<li>In the last third of April, Bitcoin\u2019s correlation with the stock market softened. Glassnode analysts noted a reduction in institutional outflows from crypto products and positive shifts in Bitcoin\u2019s fundamentals.<\/li>\n<li>The key question for the crypto market will be the response to the expected tightening of dollar liquidity in the coming months. Some believe Bitcoin may not escape near-term shocks on traditional markets. For others, Bitcoin remains a hedge against further inflation pressures.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Market sentiment, correlations and volatility<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"519\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-5-1024x519.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172338\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-5-1024x519.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-5-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-5-768x389.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-5-1536x778.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-5-2048x1037.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of the Fear &#038; Greed index. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"199\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-2-1024x199.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172339\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-2-1024x199.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-2-300x58.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-2-768x150.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-2.png 1376w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April market sentiment was predominantly bearish. The Fear and Greed Index did not exceed neutral territory, oscillating between 20 and 53. <\/li>\n<li>For most of the month the indicator lingered in the &#8216;extremes of fear&#8217; zone. This trend intensified when Bitcoin prices breached a local low below $39,000.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"531\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-4-1024x531.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172343\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-4-1024x531.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-4-300x156.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-4-768x398.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-4.png 1246w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">90-day asset correlation indicators. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Throughout April, the statistical correlation of Bitcoin with the US stock market strengthened. Correlation with the S&#038;P 500 stood at 0.52, with the Dow at 0.44. In March the figures were 0.48 and 0.39 respectively. Arcane Research analysts attributed the situation to expectations of tighter monetary policy by the Fed.<\/li>\n<li>Ethereum\u2019s linkage to the stock market was stronger (SPX 0.57; Dow 0.50).<\/li>\n<li>Bitcoin and gold continued to move in opposite directions (-0.18). Compared with March\u2019s -0.15, this trend intensified.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"481\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-4-1024x481.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172346\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-4-1024x481.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-4-300x141.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-4-768x361.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-4-1536x722.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-istoricheskoj-volatilnosti-tseny-bitkoina-4-2048x963.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of the historical volatility coefficient of Bitcoin price. Data: <a href=\"https:\/\/satochi.co\/\">satochi.co<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"514\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-4-1024x514.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172347\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-4-1024x514.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-4-300x151.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-4-768x386.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-4-1536x771.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-koeffitsienta-SHarpa-bitkoina-v-sravnenii-s-drugimi-aktivami-4-2048x1028.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin\u2019s Sharpe ratio vs. SPDR Gold Shares. Data: <a href=\"https:\/\/portfolioslab.com\/tools\/sharpe-ratio\">Portfolios Labs<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April, the average historical volatility value stood at 2.44%. Despite price swings, this was lower than in February (3.39%) and March (4.25%).<\/li>\n<li>The Sharpe ratio (using US two-year Treasuries as the risk-free asset) suggests relatively higher risk for Bitcoin investments. In April the asset again trailed gold ETFs on this measure.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">On\u2011chain data<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"474\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1-1024x474.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172351\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1-1024x474.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1-300x139.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1-768x356.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indikatora-aSOPR.-Dannye-Glassnode.-1.png 1505w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the aSOPR indicator. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=indicators.SoprAdjusted&#038;mAvg=7&#038;mMedian=0&#038;s=1635628406&#038;u=1651353206&#038;zoom=182\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"587\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/NVT-Price-1024x587.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172352\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/NVT-Price-1024x587.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/NVT-Price-300x172.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/NVT-Price-768x441.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/NVT-Price.png 1168w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamical of NVT Price indicator. Data: <a href=\"https:\/\/charts.woobull.com\/bitcoin-nvt-price\/\">Woobull Charts<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Against Bitcoin\u2019s correction in the first half of April, the aSOPR indicator (7 MA) fell below 1, remaining under that level for most of the month. This points to deteriorating market sentiment.<\/li>\n<li>Based on the NVT Price indicator, the fundamental price of Bitcoin sits around $45,000, about $7,000 above its market price. The first cryptocurrency is therefore undervalued at present.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1025\" height=\"555\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172354\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1.png 1025w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1-768x416.png 768w\" sizes=\"auto, (max-width: 1025px) 100vw, 1025px\" \/><figcaption class=\"wp-element-caption\">Number of Bitcoin loss-making UTXOs. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?%253Bm=indicators.Sopr&#038;%3B%253BmAvg=7&#038;%3B%253Bs=1423829821&#038;%3B%253Bu=1581509821&#038;%3B%253Bzoom=1825&#038;%3Ba=BTC&#038;%3Bm=indicators.Sopr&#038;a=BTC&#038;category=&#038;ema=0&#038;m=blockchain.UtxoLossCount&#038;mAvg=7&#038;mMedian=0&#038;s=1588282256&#038;u=1651354256&#038;zoom=730\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"604\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-1024x604.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172355\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-1024x604.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-300x177.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-768x453.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-1536x906.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC.png 1878w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Number of Ethereum addresses on Ethereum 2.0 Beacon Chain with balance \u2265 32 ETH. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=eth2.StakingTotalVolumeSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Since the activation of EIP-1559 in August 2021, Ethereum has burned over 2.2 million ETH. Of these, more than 137,000 were burned in April 2022.<\/li>\n<li>Compared with last month the burn rate accelerated \u2014 in March around 118,000 ETH were burned.<\/li>\n<li>On May 1, the Otherside metaverse by Yuga Labs launched. In the NFT sale\u2011related activity, the network burned more than 55,623 ETH in under 24 hours. For comparison: in the last 30 days the OpenSea marketplace burned about 21,790 ETH.<\/li>\n<li>In April Ethereum balances on centralised exchanges continued to decline \u2014 over 30 days the supply of ETH on such platforms fell by 774,000 coins. <\/li>\n<li>The share of ETH locked in smart contracts by DApps remained high. By month end it stood at 27.83% (27.18% in March).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1025\" height=\"555\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172354\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1.png 1025w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-ubytochnyh-UTXO-bitkoina.-Dannye-Glassnode-1-768x416.png 768w\" sizes=\"auto, (max-width: 1025px) 100vw, 1025px\" \/><figcaption class=\"wp-element-caption\">Chislo ubytochnyh UTXO bitcoina. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?%253Bm=indicators.Sopr&#038;%3B%253BmAvg=7&#038;%3B%253Bs=1423829821&#038;%3B%253Bu=1581509821&#038;%3B%253Bzoom=1825&#038;%3Ba=BTC&#038;%3Bm=indicators.Sopr&#038;a=BTC&#038;category=&#038;ema=0&#038;m=blockchain.UtxoLossCount&#038;mAvg=7&#038;mMedian=0&#038;s=1588282256&#038;u=1651354256&#038;zoom=730\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"619\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-1024x619.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172355\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-1024x619.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-300x177.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-768x453.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC-1536x906.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-adresov-s-balansm-bolee-1-BTC.png 1878w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Addresses with balance \u2265 1 BTC. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Addresses&#038;m=addresses.Min1Count&#038;resolution=24h&#038;s=1588286186&#038;u=1651358186&#038;zoom=730\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Amid April\u2019s price correction, the number of \u201cunprofitable\u201d UTXOs surged to levels last seen in July 2020. It appears many short-term investors are selling at a loss.<\/li>\n<li>In April the number of addresses with balance \u2265 1 BTC reached a new high. This may indicate ongoing mass adoption or capital flowing from sharply devaluing altcoins into the relatively stable Bitcoin.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"491\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-Year-MA-Multiplier-1024x491.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172357\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-Year-MA-Multiplier-1024x-491.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-Year-MA-Multiplier-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-Year-MA-Multiplier-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-Year-MA-Multiplier.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the 2-Year MA Multiplier. Data: <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/bitcoin-investor-tool\/\">LookIntoBitcoin<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-reserve-risk-1024x576.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172358\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-reserve-risk-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-reserve-risk-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-reserve-risk-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-reserve-risk-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-reserve-risk.png 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Reserve Risk dynamics for Bitcoin. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=indicators.ReserveRisk&#038;s=1493674554&#038;u=1651354554&#038;zoom=1825\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The 2-Year MA Multiplier has inched toward the \u201cgreen zone,\u201d signalling an optimal period for long-term Bitcoin accumulation.<\/li>\n<li>Reserve Risk values in April continued their move deeper into the \u201cgreen zone.\u201d This indicates growing confidence among long-term investors in Bitcoin\u2019s prospects and an increasingly attractive risk\u2011reward profile for them <a href=\"https:\/\/academy.binance.com\/ru\/articles\/what-is-the-risk-reward-ratio-and-how-to-use-it\">as a risk\u2011reward ratio<\/a>.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\">Ethereum<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"520\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-4-1024x520.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172360\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-4-1024x520.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-4-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-4-768x390.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-4-1536x779.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-4-2048x1039.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily ETH burn pace. Data: <a href=\"https:\/\/etherscan.io\/chart\/dailyethburnt\">Etherscan<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"545\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-4-1024x545.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172361\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-4-1024x545.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-4-300x160.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-4-768x409.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-4-1536x817.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-4-2048x1089.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum balances on centralised exchanges and the share of ETH supply in smart contracts. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=&#038;m=distribution.BalanceExchanges&#038;s=1633167919&#038;u=1635759919&#038;zoom=30\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Since activation of EIP-1559 in August 2021, the network has burned over 2.2 million ETH. Of these, more than 137,000 were burned in April 2022.<\/li>\n<li>Compared with March, the burn rate accelerated \u2014 in March roughly 118,000 ETH were burned.<\/li>\n<li>On May 1, the Otherside metaverse by Yuga Labs launched. In the NFT sales activity, the network burned over 55,623 ETH in under a day. By contrast, over the last 30 days the OpenSea marketplace burned about 21,790 ETH.<\/li>\n<li>In April Ethereum balances on centralised exchanges continued to fall \u2014 over 30 days the supply of ETH on such platforms declined by 774,000 tokens. <\/li>\n<li>The share of ETH locked in smart contracts of decentralized applications remained high. At month\u2019s end it stood at 27.83% (27.18% in March).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"610\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-2-1024x610.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172363\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-2-1024x610.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-2-300x179.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-2-768x457.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-2-1536x914.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-2-2048x1219.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of ETH on the Ethereum 2.0 deposit contract and number of validators. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=eth2.StakingTotalVolumeSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"619\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-3-1024x619.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172364\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-3-1024x619.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-3-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-3-768x464.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-3-1536x929.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-3-2048x1238.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of Ethereum addresses on the Ethereum 2.0 Beacon Chain with balance \u2265 32 ETH. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=addresses.Min32Count\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>By month\u2019s end the ETH balance on the deposit contract surpassed 12 million ETH, rising by almost 10% over the month. For comparison, March\u2019s growth was more than 13%.<\/li>\n<li>The number of validators on the Beacon Chain exceeded 377,000. In April, the number of participants interacting with Ethereum 2.0 rose by about 10%.<\/li>\n<li>The number of addresses with balance \u2265 32 ETH rose for the third month in a row. On 30 April the figure reached 109,862.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\">Lightning Network<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"595\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-5-1024x595.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172366\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-5-1024x595.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-5-300x174.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-5-768x446.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-5-1536x893.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-5-2048x1190.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Network capacity dynamics of Lightning Network. Data: <a href=\"https:\/\/bitcoinvisuals.com\/ln-capacity\">Bitcoin Visuals<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"562\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-3-1024x562.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172367\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-3-1024x562.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-3-300x165.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-3-768x422.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-3-1536x844.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-3-2048x1125.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Number of nodes and channels in the Lightning Network. Data: <a href=\"https:\/\/studio.glassnode.com\/dashboards\/lightning-network\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April the Lightning Network\u2019s capacity showed modest growth, ending at 3,689 BTC (3,640 BTC at end-March).<\/li>\n<li>The number of Lightning Network nodes and channels declined: nodes by 14% and channels by 3%. The negative trend persisted into April, aided in part by cloud hosting and by tools enabling channel reallocation among existing nodes, such as the Synonym solution from the Tether unit.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Mining, hash rate, fees<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"469\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-1024x469.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172369\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-1024x469.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-300x137.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-768x351.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-1536x703.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2048x937.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin hash rate dynamics, EH\/s. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.HashRateMean&#038;s=1643620940&#038;u=1651393340&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"574\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina.-Dannye-Coin-Metrics-1-1024x574.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172370\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina.-Dannye-Coin-Metrics-1-1024x574.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina.-Dannye-Coin-Metrics-1-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina.-Dannye-Coin-Metrics-1-768x431.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina.-Dannye-Coin-Metrics-1-1536x861.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina.-Dannye-Coin-Metrics-1.png 2010w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Mining difficulty dynamics for Bitcoin. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In the second half of April the smoothed 7\u2011day moving average of Bitcoin\u2019s hash rate reached a peak of 223.17 EH\/s. The month saw a 10% rise.<\/li>\n<li>Hash rate and mining difficulty for Bitcoin rose as well, with difficulty reaching a record 29.79 T.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"700\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com_.-1-1024x700.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172372\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com_.-1-1024x700.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com_.-1-300x205.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com_.-1-768x525.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina.-Dannye-BTC.com_.-1.png 1274w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Largest Bitcoin mining pools. Data: <a href=\"https:\/\/btc.com\/stats\/pool\">BTC.com<\/a> as of 01.05.2022.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"548\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-1024x548.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172373\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-1024x548.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-300x161.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-768x411.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-1536x822.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-2048x1096.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum hash rate dynamics, h\/s. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=&#038;ema=0&#038;m=mining.HashRateMean&#038;mAvg=7&#038;mMedian=0&#038;s=1640988000&#038;u=1651399267&#038;zoom=ytd\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April improved the lead of mining pools. Foundry USA increased its share of total hash rate from 19.3% to 23%. During the same period AntPool fell from 14.3% to 11.8%. <\/li>\n<li>Arcane Research notes that public mining companies account for roughly a fifth of the total Bitcoin hash rate. <\/li>\n<li>Ethereum\u2019s total hashrate also hit a historical high, exceeding 1000 TH\/s. The rise in hash rate amid tumbling ETH price may signal market participants\u2019 confidence in the long-term prospects of the second-largest cryptocurrency.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"495\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-10-1024x495.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172375\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-10-1024x495.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-10-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-10-768x371.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-10-1536x743.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-10.png 1954w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin miners\u2019 revenues by month, $ mln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1620045296&#038;u=1627821296&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"564\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-8-1024x564.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172376\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-8-1024x564.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-8-300x165.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-8-768x423.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-8-1536x847.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode-8.png 1698w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum miners\u2019 revenues by month, $ mln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1635930245&#038;u=1643706245&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April Bitcoin miners\u2019 total revenue declined by 4%, to $1.15 billion. The share of fees in revenue fell to 1.14%.<\/li>\n<li>In the same period Ethereum miners earned $1.75 billion \u2014 up 8% from March. Fees accounted for 41% of revenue.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"568\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-9-1024x568.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172379\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-9-1024x568.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-9-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-9-768x426.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-9-1536x851.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-9-1024x568.png 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the average fee per BTC- and ETH-transaction. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=fees.VolumeMean&#038;s=1643638166&#038;u=1651410566&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>The average fee per Ethereum transaction exceeded $40 at the start of April. Since last November, the trend has been downward.<\/li>\n<li>The average fee per Bitcoin transaction rarely exceeded $2 in the month. These low levels reflect low on-chain activity and rising use of the Lightning Network. The Taproot upgrade may also have contributed to greater efficiency and scalability.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Volume of trading<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2226\" height=\"1244\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172381\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5.png 2226w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5-1024x572.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5-768x429.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5-1536x858.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-5-2048x1145.png 2048w\" sizes=\"auto, (max-width: 2226px) 100vw, 2226px\" \/><figcaption class=\"wp-element-caption\">Trading volume on leading spot exchanges, $ bln. Data: <a href=\"https:\/\/www.theblockcrypto.com\/data\/crypto-markets\/spot\">The Block<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In April trading volume on leading crypto exchanges stood at $835 billion, broadly in line with March.<\/li>\n<li>More than half of the total ($465 billion) was on Binance. OKX accounted for another $109 billion, while Coinbase handled $72 billion.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Futures and options<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"567\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-14-1024x567.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172383\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-14-1024x567.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-14-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-14-768x425.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-14-1536x851.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-14-2048x1134.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin and Ethereum futures volumes, $ tril. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.FuturesVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"572\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-14-1024x572.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172384\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-14-1024x572.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-14-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-14-768x429.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-14-1536x859.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-14-2048x1145.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume of Bitcoin and Ethereum options, $ bln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.OptionsVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>From the end of last year the derivatives market has seen a decline in futures trading volumes for Bitcoin and Ethereum. In April volumes were $1.06 trillion and $0.61 trillion respectively.<\/li>\n<li>A similar pattern emerges in the options market. In the last month Bitcoin options turnover stood at $16 billion, Ethereum at $12 billion.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">DeFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"515\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-7-1024x515.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172391\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-7-1024x515.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-7-300x151.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-7-768x386.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-7-1536x773.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-7-2048x1031.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of funds blocked in DeFi, $ bn. Data: <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"502\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-3-1024x502.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172392\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-3-1024x502.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-3-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-3-768x376.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-3-1536x752.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-3.png 1756w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top ecosystems by value of blocked funds, $ bn. Data: <a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April the TVL in smart contracts of DeFi applications fell by 9%, to $208.04 billion. This reflects the ongoing market correction.<\/li>\n<li>All leading ecosystems posted declines. The exception was Avalanche, whose TVL rose by 37% during the month. One contributing factor was investments from Luna Foundation Guard and Terraform Labs of $200 million.<\/li>\n<li>The Ethereum ecosystem continues to dominate the sector\u2019s total TVL. Even as dollar value fell, ETH-denominated liquidity on the network rose by 8.74% in April.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"494\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/top-20-1024x494.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172394\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/top-20-1024x494.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-768x371.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-1536x741.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-2048x989.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top-20 DeFi coins by market capitalisation. Data: <a href=\"https:\/\/messari.io\/screener\/defi-assets-(copy)-563C5306\">Messari<\/a> (as of 01.05.2022).<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"643\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-6-1024x643.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172395\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-6-1024x643.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-6-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-6-768x482.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-6-1536x965.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-6.png 1836w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top DeFi projects on Ethereum by TVL, $ bn. Data: <a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a> (as of 01.05.2022).<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Against the backdrop of a broad market correction, all top DeFi tokens were in the red.<\/li>\n<li>The worst performer was THORChain (RUNE), which rose by 118% last month but fell by nearly 50% in April.<\/li>\n<li>The SUSHI token, the native token of SushiSwap, dropped almost 48%. Since the start of the year the token has lost more than 74% of its value. Among other reasons was the departure of leading developers and executives after the Wonderland scandal. A restructuring was announced.<\/li>\n<li>Within Ethereum-based projects, Curve Finance retained leadership by TVL. In April Curve\u2019s TVL declined by 5% to $17.50 billion. Aave ranked second with $15.64 billion locked in smart contracts.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"540\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-8-1024x540.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172397\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-8-1024x540.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-8-300x158.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-8-768x405.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-8-1536x810.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-8.png 1644w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">TVL by main DeFi categories. Data: <a href=\"https:\/\/defillama.com\/categories\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"495\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-6-1024x495.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172398\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-6-1024x495.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-6-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-6-768x371.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-6-1536x743.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-6.png 1808w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Capitalisation of popular Bitcoin on Ethereum, $ bn. Data: <a href=\"https:\/\/dune.com\/eliasimos\/btc-on-ethereum_1\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The bulk of the TVL in DeFi is accounted for by decentralised exchanges \u2014 DEXes with smart contracts hold over $61 billion, about 30% of the total.<\/li>\n<li>Second place goes to lending services with TVL above $48 billion, and third are cross\u2011chain bridges ($26.08 billion).<\/li>\n<li>In April the overall market capitalisation of \u201cBitcoin on Ethereum\u201d reached $13.11 billion. WBTC remains the undisputed leader with a dominance index above 80%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"587\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-4-1024x587.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172400\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-4-1024x587.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-4-300x172.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-4-768x441.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-4-1536x881.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-4-2048x1175.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily transactions in Polygon, Ethereum, Binance Smart Chain and Avalanche ecosystems. Data: <a href=\"https:\/\/polygonscan.com\/chart\/tx\">PolygonScan<\/a>, <a href=\"https:\/\/etherscan.io\/chart\/tx\">Etherscan<\/a>, <a href=\"https:\/\/bscscan.com\/chart\/tx\">BscScan<\/a>, <a href=\"https:\/\/snowtrace.io\/chart\/tx\">SnowTrace<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<ul class=\"wp-block-list\">\n<li>In April cross\u2011chain in\u2011network activity declined in almost all networks considered. Avalanche activity fell 2.3%, Binance Smart Chain by 1.4%, Ethereum by 3.5%.<\/li>\n<li>In the Polygon network on\u2011chain activity rose by nearly 15%. On average the network processed about 3,269,011 transactions per day.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">DEX and L2<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"542\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/DEX-19-1024x542.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172402\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/DEX-19-1024x542.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-19-300x159.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-19-768x407.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-19-1536x813.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-19-2048x1084.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Volume of trades on decentralised Ethereum exchanges, $ bn. Data: <a href=\"https:\/\/duneanalytics.com\/hagaetc\/dex-metrics\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Volume on decentralised platforms rose to $67.5 billion in April.<\/li>\n<li>Uniswap remained the leader with $51.4 billion. <\/li>\n<li>Amid declines in major protocols \u2014 SushiSwap, Synthetix, 0x \u2014 users turned to new platforms \u2014 DODO and ShibaSwap. A notable surge was recorded by Balancer (from $1.7 billion to $2.9 billion) after the launch of a new profitable farming program with the veBAL token.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"887\" height=\"915\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/L2-6.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172448\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/L2-6.png 887w, https:\/\/u1f987.com\/wp-content\/uploads\/L2-6-291x300.png 291w, https:\/\/u1f987.com\/wp-content\/uploads\/L2-6-768x792.png 768w\" sizes=\"auto, (max-width: 887px) 100vw, 887px\" \/><figcaption class=\"wp-element-caption\">TVL in L2 protocols of the Ethereum network, in ETH and USD. Data: <a href=\"https:\/\/l2beat.com\/\">L2BEAT<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"579\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-L2-protokolam-v-seti-Ethereum-1-1024x579.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172449\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-L2-protokolam-v-seti-Ethereum-1-1024x579.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-L2-protokolam-v-seti-Ethereum-1-300x170.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-L2-protokolam-v-seti-Ethereum-1-768x434.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-L2-protokolam-v-seti-Ethereum-1-1536x869.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/TVL-po-L2-protokolam-v-seti-Ethereum-1.png 1736w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<p>The volume of locked funds in L2 solutions remained flat in April, with the dollar value of TVL stabilising as Ethereum\u2019s price fluctuated.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">Stablecoins<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"571\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-12-1024x571.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172451\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-12-1024x571.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-12-300x167.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-12-768x428.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-12-1536x857.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-12-2048x1143.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Market capitalisation of stablecoins, $ bn. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=USDT&#038;category=&#038;m=market.MarketcapUsd\">Glassnode<\/a>, <a href=\"https:\/\/terra.smartstake.io\/\">Terra Analytics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Total stablecoins\u2019 market capitalisation remained around $179 billion.<\/li>\n<li>Of those issued, only USDT (from Tether) and the algorithmic Terra stablecoin UST saw increases (from $82 to $83 bn and from $16 to $18 bn, respectively), allowing UST to overtake BUSD. For most other stablecoins, issuance declined, including BUSD and USDC.<\/li>\n<li>The trend toward algorithmic stablecoins gathered pace. In April Near protocol NEAR launched USN; Justin Sun announced a forthcoming USDD on Tron.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">NFT and GameFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"812\" height=\"354\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-11.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172453\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-11.png 812w, https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-11-300x131.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-11-768x335.png 768w\" sizes=\"auto, (max-width: 812px) 100vw, 812px\" \/><figcaption class=\"wp-element-caption\">OpenSea NFT marketplace volume, $ bn. Data: <a href=\"https:\/\/dune.xyz\/rchen8\/opensea\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"892\" height=\"564\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/NFT-collections.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172454\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/NFT-collections.png 892w, https:\/\/u1f987.com\/wp-content\/uploads\/NFT-collections-300x190.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/NFT-collections-768x486.png 768w\" sizes=\"auto, (max-width: 892px) 100vw, 892px\" \/><figcaption class=\"wp-element-caption\">NFT sales on different blockchains. Data: <a href=\"https:\/\/cryptoslam.io\/\">Cryptoslam<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In April interest in NFTs and Ethereum- and Solana-based collections revived. The drivers were launches of new projects and integrations in existing products.<\/li>\n<li>The OpenSea volume approached $3.5 billion. In April the leading project acquired NFT aggregator Gem, integrated MoonPay\u2019s NFT purchase solution and added popular collections from STEPN and Moonbirds.<\/li>\n<li>Moonbirds quickly drew attention and ranked among the best-selling OpenSea collections; the collection\u2019s floor price rose to 36 ETH, and total NFT volume neared $500 million.<\/li>\n<li>In April Coinbase launched a beta NFT marketplace using 0x technology. The launch boosted ZRX\u2019s price by more than 50% on its first day.<\/li>\n<li>At month\u2019s end the creators of the NFT collection Bored Ape Yacht Club again drew attention to the APE token, announcing the Otherside metaverse and selling 55,000 virtual land parcels for APE. APE peaked at $27 shortly before the sale. The sale on May 1 triggered network congestion on Ethereum. Afterward APE fell about 30%.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Activity of major players<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"437\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-3-1024x437.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172457\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-3-1024x437.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-3-300x128.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-3-768x328.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-3.png 1040w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Largest public companies holding Bitcoin in reserves. Data: <a href=\"https:\/\/bitcointreasuries.net\/\">Bitcoin Treasuries<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<ul class=\"wp-block-list\">\n<li>MicroStrategy strengthened its leadership among public companies holding digital gold. It held 129,218 BTC (about $4.94 billion as of 1.05.2022).<\/li>\n<li>In early April MicroStrategy unit MacroStrategy acquired 4,167 BTC. CEO Michael Saylor described the strategy of buying and holding Bitcoin as successful. He said MicroStrategy would continue to invest aggressively in the first cryptocurrency.<\/li>\n<li>On Luna Foundation Guard (LFG) Bitcoin wallet there were 42,530.82 BTC \u2014 up 38.4% from a month ago. Total reserves of LFG (including USDC, LUNA and USDT) stood at $2.07 billion.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"568\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-7-1024x568.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172459\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-7-1024x568.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-7-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-7-768x426.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-7-1536x852.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-7.png 1814w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of open interest (OI) for Bitcoin futures on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"594\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME.-Dannye-CFTC-6-1024x594.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172460\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME.-Dannye-CFTC-6-1024x594.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME.-Dannye-CFTC-6-300x174.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME.-Dannye-CFTC-6-768x445.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME.-Dannye-CFTC-6-1536x891.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME.-Dannye-CFTC-6.png 1836w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Positions of large players-institutions (Commercial) on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Open interest (OI) for Bitcoin futures on the CME fell by 11% in the month, signalling a slowdown in market activity.<\/li>\n<li>The number of long positions roughly matched short positions among non-commercial and nonreportable traders, indicating market uncertainty.<\/li>\n<li>Among institutional players (Commercial) bearish sentiment strengthened \u2014 with a growing gap, short positions dominated. However the share of such participants in OI does not exceed 10%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"669\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-4-1024x669.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172461\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-4-1024x669.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-4-300x196.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-4-768x502.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-4-1536x1004.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-4.png 1676w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of micro\u2011futures positions of large players (Commercial) on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Pozitsii-melkih-igrokov-po-mikrofyuchersam-na-bitkoin-Nonreportable-1024x640.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" class=\"wp-image-172462\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Pozitsii-melkih-igrokov-po-mikrofyuchersam-na-bitkoin-Nonreportable-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Pozitsii-melkih-igrokov-po-mikrofyuchersam-na-bitkoin-Nonreportable-300x187.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Pozitsii-melkih-igrokov-po-mikrofyuchersam-na-bitkoin-Nonreportable-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Pozitsii-melkih-igrokov-po-mikrofyuchersam-na-bitkoin-Nonreportable-1536x959.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Pozitsii-melkih-igrokov-po-mikrofyuchersam-na-bitkoin-Nonreportable.png 1862w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Positions of small traders in Bitcoin microfutures (Nonreportable). Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Open interest (OI) in Bitcoin microfutures rose by 38% for the month. With activity rising, short positions predominated among relatively large traders.<\/li>\n<li>The number of long positions among small traders fell since last November.<\/li>\n<li>Open interest in Ethereum futures also rose. Similarly, among Non\u2011Commercials longs roughly matched shorts, while among Nonreportable longs declined. Among the small set of Commercials bearish sentiment strengthened. The situation for microfutures is broadly similar.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h2 class=\"wp-block-heading\">Major venture rounds<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk has_ventures\">\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$350 mln<\/strong><\/p>\n<p>to <span class=\"AOPEN_15\">NEAR Protocol<\/span> from Tiger Global, FTX Ventures and other investors. <\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$350 mln<\/strong><\/p>\n<p>mining company <a href=\"https:\/\/forklog.io\/majningovaya-kompaniya-crusoe-privlekla-350-mln\/\">Crusoe Energy Systems Inc<\/a> in a Series C round.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$200 mln<\/strong><\/p>\n<p>American platform <span class=\"AOPEN_16\">Binance.US<\/span> in a seed funding round. The company\u2019s valuation reached $4.5 billion.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$150 mln<\/strong><\/p>\n<p>Axie Infinity developer <span class=\"AOPEN_17\">Sky Mavis<\/span>. Funds will be used to compensate users affected by the Ronin sidechain hack.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$150 mln<\/strong><\/p>\n<p>British startup <span class=\"AOPEN_18\">Improbable<\/span> in a round led by Andreessen Horowitz and SoftBank Vision Fund 2. Money will be used to build interoperable metaverse networks.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$150 mln<\/strong><\/p>\n<p>NFT startup <span class=\"AOPEN_19\">Genesis<\/span> by Silver Lake and other investors. Project valued at $1 bn.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$135 mln<\/strong><\/p>\n<p>Indian Bitcoin exchange <span class=\"AOPEN_20\">CoinDCX<\/span> in a Series D funding round. Valuation at $2.15 bn.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Regulation<\/h2>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame-1.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>Draft law on mining in Russia has been submitted to the State Duma.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-1.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>US sanctions against Russia affected non-custodial services Tornado Cash and Uniswap. Both services blocked access for Russian residents at the frontend level.<\/li>\n<li>OFAC added a cryptocurrency address tied to the Lazarus group and the Ronin (Axie Infinity) hack to the sanctions list.<\/li>\n<li>BitRiver\u2019s mining group was sanctioned.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame555.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>EU banned Russian and Belarusian citizens from crypto wallets deposits as part of the fifth sanctions package.<\/li>\n<li>Following this, Binance restricted the operation of Russian user accounts with balances above \u20ac10,000, citing the EU restrictions.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map\">\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-2-1.png\" alt=\"April 2022 in numbers: market correction, rise of algorithmic stablecoins and NFT resurgence\" width=\"2350\" height=\"1182\"><\/p>\n<div class=\"country_blk\" data-blk=\"1\">National Assembly of Panama approved a bill regulating crypto-asset circulation.<\/div>\n<div class=\"country_blk\" data-blk=\"2\">Georgia\u2019s central bank head signalled regulatory groundwork for crypto regulation.<\/div>\n<div class=\"country_blk\" data-blk=\"3\">Cuba\u2019s central bank presented rules for licensing crypto companies.<\/div>\n<div class=\"country_blk\" data-blk=\"4\">Uzbekistan codified regulation of crypto and mining.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">Kazakhstan will launch crypto exchange work at the International Financial Centre for Astana (IFCA) in pilot mode.<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Main events of the month<\/h2>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.io\/wp-content\/uploads\/FL_blocked-min.png);\"><strong><a href=\"https:\/\/forklog.io\/zhurnal-forklog-zablokirovali-v-rossii-my-prodolzhaem-rabotu\/\" target=\"_blank\" rel=\"noopener\">ForkLog magazine blocked in Russia. We continue to operate<\/a><\/strong><\/div>\n<p>On 11 April Roskomnadzor restricted access to the ForkLog site within the Russian Federation without prior notice. This followed our editors\u2019 statement about events in Ukraine. To stay connected, we published a set of recommendations.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.io\/wp-content\/uploads\/ethereum-2.jpg);\"><strong><a href=\"https:\/\/forklog.io\/razrabotchiki-ethereum-proveli-tenevoj-fork-osnovnoj-seti\/\" target=\"_blank\" rel=\"noopener\">Ethereum developers carried out a shadow fork of the mainnet<\/a><\/strong><\/div>\n<p>The Ethereum team implemented a &#8220;shadow fork&#8221; of the mainnet to stress-test the merge process as the network transitions to Proof-of-Stake. Tim Beiko said the network of the second-largest cryptocurrency was at the final stage of moving away from Proof-of-Work, and advised miners not to invest in new hardware.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Leading cryptocurrencies closed the month in the red, and Bitcoin and Ethereum\u2019s correlation with the stock market strengthened. Here\u2019s how the market looked in April 2022.<\/p>\n","protected":false},"author":1,"featured_media":61173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"4","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1740],"class_list":["post-61172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-industry-in-numbers"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"4","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=61172"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61172\/revisions"}],"predecessor-version":[{"id":61174,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61172\/revisions\/61174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61173"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}