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Stand With Crypto

In light of recent events and the challenges faced by the Ethereum and broader crypto space, we'd like to draw your attention to Coinbase's 'Stand with Crypto' initiative. It seeks to foster understanding, collaboration, and advocacy in the crypto space.

🔗 Stand with Crypto Initiative

Remember, staying informed and united is key. Let's ensure a secure and open future for Ethereum and its principles. Happy trading and discussing!

Cryptocurrency Owner Demographics

61% of the cryptocurrency owners worldwide is male and 39% is female. 34% is aged between 25 and 34. 65% of all crypto owners said that they are willing ot make payment using cryptocurrency.

6.9% of the total population of the whole world owns cryptocurrency. What's more interesting is that this number is higher in countries with emerging economies. I guess that's because people don't trust their governments' fiat currency.

This is the list of countries with the most citizens owning Ethereum:

• Nigeria (34.2%) (This is interesting 😅)
• Turkey (26.5%)
• Indonesia (24.5%)
• Philippines (23.4%)
• Morocco (22.1%)
• Kenya (21.5%)
• South Africa (20.6%)
• Brazil (19.4%)
• Russia (18.5%)
• United Arab Emirates (17.4%)

Now I'm going to make a list of countries with the most citizens owning cryptocurrency. (By percentage)

United Arab Emirates (Number 1 - 25.3%)

United Arab Emirates at the top of the list when it comes to crypto owners. 25.3% of the total population of the United Arab Emirates own Crypto. Back in October 2024 the UAE announced that they removed taxes for all crypto transactions. Most of the people call the UAE as the crypto heaven for the rich.

Singapore (Number 2 - 24.4%)

24.4% of total population of Singapore own crypto. It's the second country with the most citizens owning crypto. There is no capital gains tax on cryptocurrency for individual investors in Singapore. Also worth the note that Singapore is leading the crypto adoption in Asia and is in close competition with HongKong.

Turkey (Number 3 - 19.3%)

19.3% of the total population of Turkey own crypto. There is no tax on profits from crypto this year* in Turkey. Turkey is also know to have a quite bad economy. I think most of the people see crypto as a hedge against their government currency since Turkish Lira's been losing it's value like crazy over the past years.

Argentina (Number 4 - 17.9%)

17.9% of the total population of Argentina own crypto. It's the 4th country with the most citizens owning crypto. As far as I know cryptocurrencies are subject to tax in Argentina but their current president Javier Milei introduced a bill to exclude cryptoccurencies from taxing.

United States of America (Number 8 - 15.5%)

15.5% of the total population own crypto in the US. (This is the approximate number. Some sources state more, some state less percentage).

Crypto ownership is close to average in Europe countries. In Ukraine 10.2% of the population owns crypto (I think conflict between Russia has contributed this number a lot). In Norway and Ireland 8.7% of the population owns crypto. In Belgium 8.6% and in Germany 8.3% of the population owns cryptocurrency.

Ownership by number of people

When it comes to crypto ownership by number of people India and China lead the list. In India there are 93 Million crypto owners(6.55% of the total population). In China 59 Million crypto owners(4.15% of the total population). (I think if China didn't ban crypto that number would be higher). In the United States there are 55 Million crypto owners which is massive compared to total population. Iran is also interesting since there are 12 Million crypto owners in Iran (13.46% of total population).

Thank you for reading my post 🙂

Source: Crypto Ownership Data, Ethereum Ownership Data, For the crypto tax information of the countries I used wikipedia and web search.

Good day legends! 🤩

Yesterday ETH traded in a range of $3659-$3746 and ended the day at +0.11% 🦀. ETH/BTC closed at 0.03814 yesterday (-0.73%).

Traditional markets reacted today with a stronger dollar and lower stock prices, as Trump’s tariff threat toward BRICS over the weekend dampened sentiment. He said that he would impose 100% tariffs if they tried to move away from the US dollar by creating their own currency. However, since anything related to Trump is net positive for crypto, I believe that the crypto markets will be shielded from any negative impact of Trump’s tariff threats for the time being.

Today’s data showed that the US ISM manufacturing PMI was higher at 48.4 compared to the forecast of 47.7 and previous figure of 46.5. This indicates strength in the manufacturing sector in the US, and may further support the view that the US economy is outperforming other developed markets, which made it to a slower pace of rate cuts from the Federal Reserve.

Looking ahead to tomorrow there is Switzerland Consumer Price Index, which is forecast to be -0.1% month-on-month, supporting the case for more rate cuts from the Swiss National Bank. After that there is US JOLTS Job Openings data, which historically hasn’t been a very important labor market indicator, but traders now are hungry for employment data from US that there is a potential for some strong reaction from this.

Today ETH opened at $3707 and was last traded at $3646 at 15:10 UTC (-1.65%).

Happy trading Ethtraders! 🚀 🚀 🚀

As part of our commitment to scaling the Donut ecosystem, we're presenting the (bi)monthly report, showing the latest developments and milestones for DONUT. These reports aim to keep the community, investors and everyone involved informed on DONUT's progress.

Check September's report here.

What happened last 2 months

1. Partnership with Gnosis Pay

Gnosis Pay, a decentralized payment network that integrates Web3 and traditional systems, joined the Donut ecosystem. Through this partnership, r/EthTrader users could claim a free Gnosis Pay card preloaded with 10 EURe/GBPe. This campaign ran until September 30th.

2. DONUT smart contract upgrade

The DONUT smart contract underwent a very important upgrade to improve security and functionality:

• The ability for the smart contract owner to destroy tokens in targeted wallets has been eliminated.
• A yearly inflation system was introduced, Donuts are now minted once a year. Whenever the treasury runs out of DONUT, 20.88M DONUT will be issued, after which they can only be issued again after exactly one year. The yearly DONUT inflation is now exactly 20.88M.
• Ownership of the contract was transferred to the multisig, thus establishing decentralized control.

3. Donut Dashboard upgrade

The Donut Dashboard was upgraded for better user experience. It now has a consolidated menu for easier navigation, and a new “Contact Us” page to provide a direct line to the team.

4. Partnership with Unstoppable Domains

Unstoppable Domains became a new partner of the Donut ecosystem, bringing personalized “.donut” domains on Polygon. Unstoppable Domains is a decentralized platform that offers domain names using blockchain technology, it allows users to create personalized addresses for crypto wallets, websites, and personal identities. More information on how to purchase custom .donut domains coming soon.

5. Expansion to Polygon

The team is assessing the feasibility of expanding DONUT’s DeFi presence to Polygon, aiming to allow DONUT to be used as a currency in NFT markets, thus strengthening its role in the DeFi industry.

6. AI agent for the Donut Dashboard

Discussions are ongoing about integrating an AI guide into the Donut Dashboard, to help visitors with navigation and provide resources.

7. A DONUT native bridge?

A native DONUT bridge is being explored to connect chains, improve interoperability, improve deflationary mechanics, and generate treasury revenue. It's still in the planning stage, however, if it goes forward, it could significantly improve the Donut ecosystem.

DONUT tokenomics

• Total amount of DONUT sent to the treasury (revenue) in October & November: 10,000
• Total amount of DONUT burned in October & November: 15,599

To preface, I’m definitely a noob but I’m also an investor (lol), and as I look at ETHs market cap I can’t help but feel like it’s extremely overvalued. The idea of ETH being worth more than Google (2 trillion) at some point in the near future just based of what seems like speculation seems kind of ridiculous. But many people believe it’s possible.

Are you able to explain to a noob like me where the numbers support ETH being worth 500 billion and at some point 2 trillion, which is more than Google, a company whose revenue was 300 billion in 2023 and is considered one of the biggest in the world? 2 trillion for ETH based off speculation seems kind of ridiculous no?

So what is the thought process here for the informed investor and whales out there?

I believe ETH has real utility but i don’t truly understand its full potential. When people in crypto explain like Vitalik it sounds like they’re speaking in robot.

Would really appreciate someone explaining

I need to fill the 200 words so I’ll just say that I’m worried 400 billion for ETH right now is like way too high. I don’t doubt it’ll go up this cycle but in reality I just don’t get it.

I don’t doubt there is sound logic but I don’t really understand it and was hoping someone could explain who has a good understanding of cryptocurrency

Here are two other sources I find helpful for those wanting to understand a bit more on how and why liquidity positions change.

Impermanent loss, text explanation | Binance Academy, video explanation

Current state of the pool & the last week of trading

Total Value locked in Sushi.com is $ 49.43k

• 4.01356 ETH
• 7208290 DONUT
• Trading Volume in last 24 hours = $ 439.15
• Trading Volume in last 7 days = $ 3.79k
• In the last 7 days ETH is has moved +3.1 %
• In the last 7 days DONUT has moved -0.4 %
• Last week 1 ETH = 698.68k DONUT
• Today 1 ETH = 682.71k DONUT
• 4753.6 DONUT per day distributed amongst all in range positions.

Overall, this week saw about 3k less in overall trading volume. The DONUT ETH Ratio saw as low at 700k, but was promptly bought back up, overall seeing a very slight increase in Donut value this week. It would appear for now a trading range is hovering around 640k to 700k DONUT per ETH.

The 2nd largest liquidity position (~15% of liquidity pool), which is a concentrated position set within the 250k to 460k DONUT:ETH trading range - this position remains out of range and not currently incurring any trading fees or rewards.

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• Base Impermanent loss experienced = $-2357.50
• Cumulative Fees Revenue + Yield Farm Generated = $1480.81
• Overall Position Performance = $-876.70

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