30 Dec 2022
2022 - Year in reviewA year of expensive lessons. This report is both a backward-looking review and a forward-looking assessment of what’s to come.
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.