Crypto market snapshot for Q2 2022: crypto market fall and drop in trading volumes

The analytical snapshot presents 2022’s first quarter in review: crypto market capitalisation, trading volumes, gainers and losers, crypto fund investments, as well as the correlation between cryptocurrencies and public companies by month and for the entire quarter.

• The crypto market capitalisation fell twice during the second quarter of 2022. The rate of decline increased with each subsequent month.
• In Q2 2022, the number of public companies whose capitalisation is higher than that of the entire cryptocurrency sector increased from three to five. Among them are Saudi Aramco, Apple, Microsoft, Alphabet and Amazon.
• In Q2 2022, trading volumes on EXMO fell by 29% compared to the previous quarter. Some trading activity increase was observed in May, but on the whole, it remained relatively low.
• The Cryptocurrency Fear & Greed Index maintained a downward trend throughout the quarter. For 69 days during the quarter (76%), it remained in the “Extreme Fear” zone.

The total balances of users decreased by 59% over the reported quarter, which is primarily due to the price fall of all digital assets. Dogecoin (DOGE) balances decreased significantly more than DOGE’s price – by about 11%. The balances of Solana (SOL), Polkadot (DOT) and Uniswap (UNI) decreased less than the price of these coins – by 26.5%, 14% and 11%, respectively.

Top 10 cryptocurrencies by balance

Bitcoin (BTC), Ethereum (ETH), Tether (USDT), XRP (XRP), EXMO Coin (EXM), Dogecoin (DOGE), Ethereum Classic (ETC), Ton (TONCOIN), Litecoin (LTC) and Cardano (ADA) hit the top 10 cryptocurrency list in terms of user balances, at the end of the quarter.

By the end of the quarter, all cryptocurrencies incurred losses. The median value of ROI for the assets under consideration was -58%. TRX managed to minimise losses to 6%. Dogecoin (DOGE) also had a somewhat smaller negative ROI.

NEAR Protocol (NEAR) recorded the largest increase in the number of holders during the reported quarter. The number more than doubled. Solana (SOL) recorded an increase of 51%. Yearn.finance (YFI), GNY (GNY) and Velas (VLX) follow them but with a significantly lower increase in the number of holders: +18%, +7% and +5%, respectively.

Top 10 cryptocurrencies by the number of holders

Bitcoin (BTC), XRP (XRP), Ethereum (ETH), Dogecoin (DOGE), EXMO Coin (EXM), Tron (TRX), Litecoin (LTC), Cardano (ADA), Litecoin (LTC) and Stellar Lumen (XLM) hit the top 10 cryptocurrency list in terms of the number of holders, at the end of the quarter.

This is a short summary of the key quarterly outcomes. Read the full version in the Crypto market analytical snapshot.