30 Dec 2022

2022 - Year in review

A year of expensive lessons. This report is both a backward-looking review and a forward-looking assessment of what’s to come.
Year in review 2022
Most notable observations in 2022:
  • BTC ends the year down 65%, seeing its second-worst yearly performance since 2011, only beaten by 2018’s -73%.
  • Binance firmly establishing its dominance in the crypto market, representing 92% of the BTC spot volume, 66% of the crypto perp volume, and 61% of the BTC derivatives volume by the end of 2022.
  • Correlations between BTC and equities have been extremely high throughout the year, with tightening central banks being the leading force behind the falling markets.
  • Stablecoins have vastly increased their market dominance in 2022.
Our core prediction for 2023:
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