Dear Centric Community,
The fourth quarter did little to smooth out cryptocurrency’s bumpy 2022 ride. In fact, it introduced new twists and turns, including the collapse of crypto exchange FTX in November, followed by Sam Bankman-Fried’s arrest in December. The volatile news cycle cooled the market even further, raising higher the eyebrows of retail investors and regulators alike.
As explained in a recent announcement, Centric Foundation has tapped the brakes and made fiscally conservative adjustments in light of market conditions. Although recent days have shown some improvement in the market, it’s too early to speculate on a timeline for recovery.
Throughout it all, the Centric protocol has continued to hum along seamlessly as designed, burning CNR every hour. The upshot? The supply of CNR continues to deflate, increasing the market share of CNR hodlers around the world.
With that, let’s have a look back at how we closed out 2022.
New Partnership
Bemodo
In early Q4, we announced Centric’s partnership with eCommerce platform Bemodo. Bemodo chose Centric as their “preferred cryptocurrency,” and they began accepting Centric Swap (CNS) payments on their website in November.
Ready to Accept Centric at YOUR Business?
If you’re a business owner who would like to offer your customers a Centric payment option, please get in touch with our CENPAY team. Complete the form at Centric.com/cenpay.
Where would you love to shop with Centric? Please invite the business owner to contact us!
Metrics & Milestones
Centric Rise Growth
The fourth quarter opened with CNR’s price blocks set for 11% growth in October, followed by 10% in both November and December.
October Opening Price: $708.21
December Closing Price: $951.07
Centric Rise Cumulative Burn
The protocol’s steady Q4 burn continued into January, and we’ve now amassed a cumulative burn of more than 170,000,000 CNR, representing a 17%+ reduction of CNR’s total supply. 🔥
Centric Wallets
The latest numbers show 58,955 wallets containing Centric, including 35,643 native Centric web wallets.
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Centric’s Twitter and official announcement channel on Telegram remain the best places to get timely news and updates. Stay connected!
