Crypto market snapshot for Q1 2022: decrease in the crypto market cap and trading volumes

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

• By the end of the first quarter of 2022, cryptocurrency market capitalisation decreased by 4.2% but managed to remain at above $2 trillion.
• In Q4 2021, the crypto market was surpassed only by Apple and Microsoft in terms of market cap, but in the reporting period, it was also beaten by Saudi Aramco, whose capitalisation reached $2.3 trillion.
• Trading volumes for the reporting period decreased by a quarter compared to the previous quarter. Gradual market growth was accompanied by a slight increase in trading activity.
• The median value of the Cryptocurrency Fear & Greed Index stood at 25 points, belonging in the “Extreme fear” zone.

During the reported quarter, the balances of most cryptocurrencies decreased, which was the result of their price drop against the dollar. Amid the market recovery in March, cryptocurrency balances grew by an average of 21%. Shiba Inu (SHIB), Solana (SOL) and Cardano (ADA) recorded the largest growth in balances – 23%, 22% and 18%, respectively.

Top 10 cryptocurrencies by balance

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

Almost all cryptocurrencies suffered a loss in the first quarter of 2022, although growth resumed in February-March. Only the price of Bitcoin and XRP managed to recover to the level recorded at the beginning of the year. The largest price drops were recorded for Uniswap (UNI) and Solana (SOL).

TON (+27%), shiba inu (+25%), GMT token (+19%), iqeon (+18%) and GNY (+16%) had the highest growth rates in terms of the number of holders compared to the previous quarter. The ratio of cryptocurrencies to bitcoin, in terms of the number of holders, has hardly changed.

Top 10 cryptocurrencies by the number of holders

Bitcoin (BTC), XRP (XRP), Dogecoin (DOGE), Ethereum (ETH), Solana (SOLO), Exmo Coin (EXM), Tron (TRX), Litecoin (LTC), Cardano (ADA) and Ethereum Classic (ETC) 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.