Weekly recap: Google revealed as the top crypto investor

Crypto market in numbers

The crypto market cap fluctuated between $1.1 trillion and $1.2 trillion during the entire week. On 18th August, though, some drawdown was observed, as a result of which the indicator decreased by 3% over the week. Until Thursday, the crypto market cap remained at its highest level for the last two months. Since mid-July, slow market recovery has been recorded: its capitalisation grew by about 18% over the last 30 days, according to CoinMarketCap.

There was no significant recovery in trading activity. Between 11th and 17th August, trading volumes were approximately $492 billion, up 4.7% from a week earlier. The average daily trading volume for this period was $70 billion.

The Cryptocurrency Fear & Greed Index remained at above 40 points between 11th and 17th August, marking the period with the most optimistic market sentiment since 06th April 2022. On 14th August, the indicator stood at 47 points, in the “Neutral” zone. However, on 18th August, the index dropped sharply to 30 points, which is 11 points less than on the previous day.

The market share of bitcoin and ether remained almost unchanged during the week: at 40% and 20%, respectively. The volatility of both coins continued to decline. The 30-day bitcoin volatility index has fallen by 0.54% to 2.53% over the past seven days, the lowest since 03rd May 2022. The same indicator for ETH fell by 1.43% to 4.39%, the lowest since 12th June 2022.

Gainers of the week (12th – 18th August 2022)

Losers of the week (12th – 18th August 2022)

Easily track gainers and losers within the Simple trade section on EXMO. Check real-time updates in the last 24 hours, week and month.

Segmentation of cryptocurrencies based on trading results
(12th – 18th August 2022)

Most traded coins (11th – 17th August 2022)

Top crypto market driving factors

Overall crypto market

▲ 11.08.2022 – The largest asset management company, BlackRock, launched a spot bitcoin private trust for U.S.
institutional clients. The firm is reported to also explore blockchains, stablecoins, crypto assets and tokenisation.
▲ 14.08.2022 – The Wall Street Journal: despite losses from the bear market, pension funds across North America remain bullish on crypto.

▼ 15.08.2022 – CoinShares: digital asset investment products saw minor outflows last week totaling $17 million between 08th and 12th August 2022. While European exchanges saw an inflow of $20 million, North and South American exchanges witnessed outflows of $36 million.

▲ 15.08.2022 – CoinShares: a broad set of altcoins saw inflows totaling $3.9 million last week, although there were no discernible outperformers in the market.

▲ 16.08.2022 – Blockdata introduced a list of the most active crypto and blockchain investors among the TOP-100 largest public companies. The 40 companies invested approximately $6 billion into blockchain startups between September 2021 and June 2022. Google’s parent company, Alphabet, topped the list, with investments of over $1.5 billion. BlackRock follows it with a $1.2 billion investment.

Bitcoin (BTC)

▲ 15.08.2022 – CoinShares: bitcoin bore the brunt of the outflows which totaled $21 million between 08th and 12th August 2022, this being the second consecutive week of outflows bringing month-to-date outflows to $29 million. Short-bitcoin saw minor inflows totaling $2.6 million.

Ethereum (ETH)

▲ 11.08.2022 – Santiment: the volume of large transactions (more than $100,000 each) amounted to 1,670 ETH (about $3 million) in just three hours on 10th August 2022. This is the indicator’s largest jump since 15th June 2022 occurring in tandem with whale addresses accumulation.

▲ 12.08.2022 – Ethereum developers: the Ethereum mainnet merge has been tentatively scheduled for 15th-16th September 2022.

▲ 13.08.2022 – Coinglass: the open interest of ether options began to grow rapidly in July and almost tripled in a month, hitting a fresh all-time high of $8.11 billion on 12th August 2022.

Cardano (ADA)

▲ 11.08.2022 – The developers have released Cardano node 1.35.3, the final node required for the Vasil hard fork launch.

XRP (XRP)

▲ 11.08.2022 – Japan-based Shinsei Bank launched an XRP reward program for customers.

▲ 15.08.2022 – The U.S. magistrate judge, Sarah Netburn, granted Ripple’s request to review videos of SEC officials.

▲ 16.08.2022 – Ripple partners with Japanese money transfer giant, SBI Remit, to launch a project that will accelerate and grow cross-border payments between Japan and Thailand.

▼ 17.08.2022 – The U.S. SEC filed a brief with objections to orders that asked the SEC to disclose speech drafts related to a speech by previous SEC director, William Hinman, on bitcoin and ether.

Solana (SOL)

▲ 11.08.2022 – Solana’s “Validator Health Report”: the network has over 1,900 block-producing nodes with nearly 1,688 (88.14%) of those run by independent entities. Overall there are 3,400 validators across six different continents.

▲ 16.08.2022 – Jump Crypto and the Solana Foundation join forces to create a second Solana validator client intended to improve performance as the network scales, as well as boost decentralisation.

Polkadot (DOT)

▼ 14.08.2022 – The Polkadot-based stablecoin Acala USD (AUSD) has lost its peg to the dollar.

▲ 16.08.2022 – The Acala community burned over 1.3 billion aUSD to restore the stablecoin’s dollar peg.

Shiba Inu (SHIB)

▲ 15.08.2022 – Santiment: simultaneously with the SHIB price surge, 433 large transactions were recorded on the Shiba Inu network. It’s the maximum number observed in the last four months.

▲ 16.08.2022 – William Volk, alpha director at Shiba Inu Games: a new collectible card game, Shib Eternity, is already seeing great demand in Vietnam.

Uniswap (UNI)

▲ 15.08.2022 – CoinShares: between 08th and 12th August 2022, Uniswap managed to attract a significant 6.6% of its total assets under management, outperforming all other cryptocurrencies by this indicator. However, inflows amounted to a modest $100,000.

Chainlink (LINK)

▲ 14.08.2022 – Chainlink representatives reported on 19 integrations of five Chainlink services on seven different blockchains in a week.

▲ 14.08.2022 – The Chainlink team will hold community meetups in Seoul, Boston, New York, Berlin and Los Angeles.

EOS (EOS)

▲ 12.08.2022 – EOS Network Foundation, (ENF), opened registrations for its upcoming Yield+ incentive program.

▲ 17.08.2022 – On 15th August 2022, U.S. District Judge Lewis Kaplan of Manhattan refused to grant final approval of the proposed $27.5 million settlement between Block.one and a group of investors. The judge ruled that the lead plaintiff in the class action did not adequately represent the interests of all investors.

▲ 17.08.2022 – On 21st September, EOS will undergo a hardfork to upgrade to the new codebase. In addition, EOS will rebrand to EOSIO. Both the rebranding and upgrade serve as EOS’s symbolic divorce from Block.One.

Chiliz (CHZ)

▲ 15.08.2022 – The Chiliz team announced Pequin, the Phase 5 update of its Scoville testnet. It is expected to bring the cross-chain bridge functionalities to the CHZ token.

▲ 18.08.2022 – Socios.com, the leading blockchain provider for the sports industry, announced it has secured regulatory approval as a service provider of virtual currencies and digital wallets for its fan engagement and rewards platform in Italy.

SmartCash (SMART)

▲ 12.08.2022 – More than 37% of issued SMART tokens are temporarily locked, as a result of three special Time Locked Airdrops.

EXMO news

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That’s all for this week! Follow EXMO on YouTube, Twitter and Telegram to stay tuned to the main events and trends in the crypto market.