It’s Sunday which means it’s Crypto weekly 🧵 time with me and @maaria: 

A lot of market news this week.... BTC down 11%, ETH down 6% and altcoins down 20%+. Stablecoin deposits grew slightly, and BTC now makes up over 60% of the total crypto market (for the first time since 2020).  

Here were my favorite stories: 
- BTC fell despite the announcement of a strategic BTC reserve, which will initially be made up of seized criminal and civil crypto assets, meaning the US will not be a net buyer of BTC assets as some speculated. Fun fact: the US government is the 4th largest holder of Bitcoin behind Strategy (formerly Microstrategy), Binance and of course…Satoshi. 

- ETH revenue dropped by 93% over the past year and its share of blockchain revenue has fallen from 55% in Feb 2024 to 24% this past Feb. A result of this revenue drop is ETH turning inflationary again over the past year (albeit a small amount: 0.41% since Apr 2024).

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

I hope market start recovering after this big storm🫠