News recap: investors continue to accumulate crypto

Crypto market in numbers

Between 05th and 13th December 2022, the crypto market capitalisation stood in the range of $840-$850 billion, according to CoinMarketCap. However, amid the Fed’s interest rate hike of 0.5% and the news about the possible bankruptcy of a large bitcoin miner, the indicator dropped to $790 billion. On 21st December, capitalisation recovered slightly and stood between $800 and $810 billion.

Trading activity remained low. Average daily trading volumes amounted to around $35 billion. After 13th and 14th December, the indicator increased by 43% to an average of $50 billion. But by the end of December, it dropped to $20-$30 billion again.

The Cryptocurrency Fear & Greed Index remained in the “Fear” zone. Between 05th and 13th December 2022, the indicator stood in the range of 25-29 points. However, after the FED’s interest rate announcement, the index returned to the values seen in early December.

A tendency to pour capital into bitcoin has been observed since the beginning of December. Bitcoin’s dominance has risen to 42%, according to TradingView. This could put massive pressure on the price of most altcoins.

The volatility of cryptocurrencies has decreased again. Since 05th December, Bitcoin’s 30-day volatility index has fallen by 48%, from 2.71% to 1.40%. The same indicator for ETH decreased by 41% – from 4.25% on 05th December to 2.49% on 22nd December. Such a sharp drop signals the imminent onset of a strong market movement.

Gainers (09th – 22nd December 2022)

Coin	Opening price 09.12, $	Opening price 22.12, $	Change
DEBT	11.84	17.91	51.2%
TON	2.01	2.84	40.9%
GMT	0.09	0.10	6.5%
TRX	0.060	0.062	3.6%
EXM	0.01	0.02	1.9%

Losers (09th – 22nd December 2022)

Coin	Opening price 09.12, $	Opening price 22.12, $	Change
WAVES	2.40	1.75	-27.2%
CHZ	0.17	0.13	-24.9%
DOGE	0.11	0.08	-22.5%
ALGO	0.25	0.19	-22.2%
NEAR	1.88	1.48	-21.5%

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

Most traded coins (09th – 22nd December 2022)

Coin	Trading volumes, $
BTC	12,322,466
ETH	7,878,015
XRP	3,734,821
ROOBEE	3,037,412
ALGO	2,857,856
DEBT	2,108,170
TON	1,947,092
ETC	1,315,037
GMT	1,129,268
BCH	1,073,380

Top crypto market driving factors

Overall crypto market

▲ 09.12.2022 – The Block: crypto developer activity on Ethereum and non-Ethereum compatible chains is down significantly in 2022.

▲ 12.12.2022 – Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government.

▼ 12.12.2022 – Analysts at Alternative stated that market fear has not yet reached an extreme level and there is a risk of further fall of cryptocurrencies.

▼ 12.12.2022 – CoinShares: over the past week, digital asset investment products saw inflows totaling $8.8 million, while weekly trading volumes reached a two-year low of $677 million.

▲ 13.12.2022 – Bloomberg strategist, Michael McGlone, believes that the long crypto market downtrend will end in 2023.

▼ 13.12.2022 – Financial Times: the world’s most powerful financial watchdogs will lay out firm steps to regulate the cryptocurrency industry in early 2023 and enact them swiftly.

▲ 13.12.2022 – JPMorgan: the share of the population that has ever transferred funds into a crypto-related account has risen from 3% prior to 2020 to 13% as of June 2022.

▲ 13.12.2022 – In November 2022, the consumer price index (CPI) jumped by 0.1% over the prior month and by 7.1% from a year earlier, below forecasts of 7.3%. The cryptocurrency market reacted positively to the news.

▼ 14.12.2022 – The Federal Reserve increased the key interest rate by 50 basis points to the level of 4.25-4.5% per annum, the highest level since late 2007. The Fed’s decision was expected by market participants, but the market reaction has been negative.

▲ 14.12.2022 – Tether announced that starting now and throughout 2023, it will reduce secured loans in Tether’s reserves to zero.

▼ 18.12.2022 – Almost 40% of cryptos listed on CoinGecko in 2021 are now ‘dead coins’. That’s 2.5 times higher than the number of tokens listed in 2020 and 3.5 times higher than the year-to-date figure.

▲ 20.12.2022 – Crypto lending platform, BlockFi, filed a motion with the Bankruptcy Court of the District of New Jersey to open the withdrawal of user funds from wallet accounts.

▼ 20.12.2022 – The U.S. economy is likely to face a recession starting the second quarter of 2023 and a new wave of sell-offs in the stock market. Under these conditions, cryptocurrencies may face negative revaluation, Nansen warned.

▼ 20.12.2022 – Auros Global filed a liquidation request in a British Virgin Islands court and chose Interpath Advisory as its liquidator.

▼ 21.12.2022 – CNBC: Bitcoin miner Core Scientific does not generate enough profit to repay the debt owed on the equipment it is leasing. It is reportedly filing for Chapter 11 bankruptcy protection in a Texas court.

▲ 21.12.2022 – Bitcoin miner, Greenidge Generation, has entered into a $74 million debt restructuring agreement with a crypto lender, NYDIG.

Bitcoin (BTC)

▲ 08.12.2022 – Standard Chartered: demand could switch from Bitcoin as a digital version of gold to real gold because of a 30% rally in the yellow metal.

▲ 08.12.2022 – The number of BTC addresses with a balance greater than 0.1 BTC and 1 BTC has reached all-time highs of 4,121, 460 and 961,345 units, respectively.

▲ 08.12.2022 – Around 33 whales holding 1,000 to 100,000 BTC left the network, having sold or redistributed around 20,000 BTC in 96 hours.

▲ 08.12.2022 – Bitcoin holders locked in losses of a total of $213 billion during the past year. As per data from the on-chain data analytics firm, Glassnode, the losses realised indicate that 47% of the bull market gains are now gone.

▲ 14.12.2022 – The amount of bitcoins held by long-term holders hit a new ATH. The supply held for more than five months has reached 14 million BTC.

▲ 19.12.2022 – Glassnode: more than 88% of the current Bitcoin (BTC) supply is held off exchanges, marking a new low since January 2018.

▼ 19.12.2022 – Goldman Sachs: investors will have to wait for a long time for new BTC highs.

▲ 20.12.2022 – As a result of the latest recalculation, Bitcoin’s mining difficulty increased by 3.27% to 35.36 T.

▼ 20.12.2022 – IntoTheBlock: the share of unprofitable bitcoin addresses increased to 52%.

▼ 21.12.2022 – ​​Over the last 30 days, whales holding less than 1000 BTC offloaded a total of 280,000 BTC.

Ethereum (ETH)

▲ 08.12.2022 – Santiment: wallets with a balance of 100 to 100,000 ETH continue to accumulate.

▲ 13.12.2022 – Glassnode: the number of ETH non-zero addresses reached an all-time high of 91,289,731.

▲ 20.12.2022 – Payments giant, Visa, is set to introduce auto-payments using Etheteum’s Layer-2 solution, StarkNet.

Ripple (XRP)

▲ 14.12.2022 – Santiment: the holdings of XRP whales with 100,000 to 10 million coins on their balances have jumped by more than 6% in the last five weeks. The total percentage of supply held by them is hovering around 18%.

▼ 20.12.2022 – XRP whales have been moving an increasing number of coins over the past week, which indicates a possible price drop.

Dogecoin (DOGE)

▼ 19.12.2022 – Twitter’s new owner, Elon Musk, posted an informal poll asking users of the social media platform if he should step down as CEO. 57.5% voted “Yes”. As a result, DOGE’s price fell.

Litecoin (LTC)

▲ 12.12.2022 – Santiment: wallets with a balance of 1 million LTC continue to actively accumulate. In the past five weeks, they accumulated 2.95 million LTC.

Toncoin (TON)

▲ 12.12.2022 – The Toncoin team announced the launch of the DeDust decentralised exchange, in addition to the TonSwap and STON.fi exchanges.

▲ 13.12.2022 – Crypto analytics firm, Santiment, indicates a significant increase in TON on-chain activity.

▲ 19.12.2022 – The number of registered TON addresses increased by 9.2% to 1,744,081.

Tron (TRX)

▲ 12.12.2022 – Tron’s USDD stablecoin has lost its peg as its price dipped to $0.97, which could negatively affect the Curve protocol.

Tezos (XTZ)

▲ 19.12.2022 – Tezos has activated the 12th upgrade “Lima”, which increases network bandwidth and reduces the risk of smart contract errors.

Waves (WAVES)

▼ 09.12.2022 – The Digital Asset Exchange Association (DAXA), a group of five major crypto exchanges in South Korea, has flagged WAVES since an investment warning as the Neutrino USD (USDN) stablecoin lost its dollar peg.

▼ 20.12.2022 – Waves CEO announced the launch of the new stablecoin. Users compared it with Terra.

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