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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/12\/29\/crypto-market-2022-how-techcrunch-covered-crypto-market\/<\/a><\/br> In 2022, the crypto<\/a> community rose to new heights \u2014 and then it crashed. We noted this as early as June 2022<\/a>, before<\/em> the FTX fiasco (which we\u2019re using as the catchall term for the crash<\/a>, alleged fraud<\/a>, bankruptcy<\/a>, congressional hearing<\/a>, Sam Bankman-Fried<\/a>\u2018s arrest in the Bahamas<\/a>, the call for his extradition, etc.).<\/p>\n However, this isn\u2019t supposed to be an article chronicling FTX\u2019s downfall from the past year<\/a> \u2014 it\u2019s a recap of our 2022 crypto coverage, which could also be seen as a Jacquelyn Melinek<\/a> highlights reel with a feature from Alex Wilhelm<\/a>.<\/p>\n In May, LUNA nosedived, and the market followed suit. Terraform Labs founder Do Kwon shared a plan to revive the Terra Ecosystem, including the formation of a new blockchain. Jacquelyn noted: \u201cThe launch of LUNA 2.0 will be a test of whether the community is as strong as it says it is. But many are wary of trusting Kwon and the Terra team again after the LUNA and UST downfall.\u201d<\/p>\n In early to mid-September, whispers of \u201cthe Merge\u201d were everywhere we turned an ear. A quick refresher: The Merge was a highly anticipated event where Ethereum shifted from proof-of-work to proof-of-stake<\/a>. It may have been overhyped.<\/p>\n During the most recent crypto bull market, the NFT subsector also rose to new heights. As NFT sales slowed, blue-chip NFT holders began looking for new ways to profit. For the uninitiated: The term \u201cblue-chip NFTs\u201d derives from \u201cblue-chip stocks,\u201d which often refer to the most valuable companies on the market. In this case, they\u2019re the most desirable or high-value NFTs. What are they worth amid crypto winter?<\/p>\n In May 2022, Terra UST crashed, which led to a push for crypto regulation. \u201cUST is an algorithmic stablecoin mainly backed by its sister cryptocurrency, LUNA, but was also backed by bitcoin. Founder Do Kwon previously told TechCrunch that plans were in place to back it with other cryptocurrencies over time. It\u2019s unclear if that road map is still in place for UST as it tries to recover from its downfall,\u201d Jacquelyn wrote. To regain the trust of traders and holders, the next move would be regulation \u2026 right?<\/p>\n At the start of 2022, OpenSea raised a $300 million round at a $13.3 billion valuation<\/a>. Alex did a deep dive to figure out how the new (in January 2022) OpenSea valuation squared up with its revenues. You can follow along with Alex\u2019s collection of data and computations to determine whether the company is underpriced or overpriced.<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nHow TechCrunch+ followed the roller-coaster crypto market in 2022<\/br>
\n2023-01-20 21:50:18<\/br><\/p>\nHere\u2019s some of our top 2022 crypto coverage:<\/h2>\n
Terra community passes proposal to revive LUNA cryptocurrency following stablecoin-led implosion<\/a><\/h3>\n
Ethereum drops more than 17% after \u2018way overhyped\u2019 Merge<\/a><\/h3>\n
Blue-chip NFT owners explore alternative uses as sales decline<\/a><\/h3>\n
Terra\u2019s UST crash will make life harder for crypto as regulation looms<\/a><\/h3>\n
Making sense of OpenSea at a $13B valuation<\/a><\/h3>\n