Last week was crazy for crypto, if you missed anything, we got you covered:

GM. vEmpions - Last week was crazy for crypto, if you missed anything, we got you covered: 😮 GPU prices are finally dropping due to falling mining revenue. 🤩 Ethereum breaks a new record of more than 83 million new wallets. 😤 Elon Musk isn't buying Twitter anymore.

GPU prices are finally dropping due to decreased mining revenue.

As a result of the crypto market's decline and a low price for crypto "digital ore", the revenue that miners were getting from mining bitcoin has fallen by almost 80% in the past 9 months. Tom's Hardware, an online publication for tech enthusiasts, reports a dramatic decline in NVIDIA and AMD graphics card prices, up to as much as 57% for some used products since January. 

Between 2020 and 2022 hash rate on the Ethereum network rose from 228.2 TH/s to 1126.7 TH/s, and if you calculate how many cards you need actually to mine 898.5 TH/s - you won't be surprised to find out that at least some of them wound up on eBay.

Ethereum breaks a new record of more than 83 million new wallets.

Although ETH's price is still down, Glassnode, a blockchain analytics service reports that as of July 9, over 83 million wallets registered on the Ethereum network had non-zero balances, which is a two-fold increase since the last year.The metric provided by Glassnode is supposed to showcase the increase in web3 dApps and DeFi adoption across the network.With Ethereum breaking new records, 'The Merge' on the horizon, some financial experts' crazy predictions, and the sheer amount of DeFi, new web3 adaptations as well as the number of rollups coming online, how can one remain not bullish for an updated ETH 2.0?

Elon Musk isn't buying Twitter anymore.

According to a filing with SEC (Securities and Exchange Commission), Elon called off the deal to buy Twitter."But Elon isn't known for pulling out, that's why he has nine kids! What went wrong?" - you'll ask. Officially, Musk's attorney Mike Ringler alleged that Twitter has failed to provide Musk with data regarding fake or spam accounts, the issue assumed to be "fundamental to Twitter’s business and financial performance". However, various financial experts argue that a $44 billion acquisition deal is quite a stretch, even for the world's richest person and that Musk has simply failed to secure the funding. Immediately after the news, the Twitter stock fell another 5%, closing at $36, from an all-time high of $54 in April, when Musk initially closed the deal to buy Twitter.

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