News of the week - a source of information about key events in the crypto market.
</strong>Crypto market capitalization atlast week, it could not stay at the level of $2 trillion and from January 21 began to fall below this mark, reaching on January 24 the minimum value for half a year - $1.5 trillion.Over the past seven days, the figure decreased by 13.3% to $1.7 trillion, according to CoinMarketCap data.
Trading volumes from January 19 to 25 reached $662 billion,which is 17% higher than the results of the week earlier.
The Fear and Greed Cryptocurrency Index continues to be in the “Extreme Fear” zone.The median index value for the week was13 points. Against the backdrop of a slight market recovery on January 25, the index value today rose to 23 points, approaching the exit from the “Extreme Fear” zone.
Bitcoin's market share rose almost 2% to 42.18% over the week.At the same time, the positions of many altcoins declined. Thus, the share of ether fell from 18.74% to 17.52%, cardano – from 2.38% to 2.09%, solana – from 2.16% to 1.79%.
30-day bitcoin volatility indexOn January 20, it reached its lowest level since November 2020 – 2.32%.
TOP factors of market movement
▼ 01/19/2022 - The EU financial market regulator called for a ban on the mining of cryptocurrencies on the Proof-of-Work mechanism.
▲ 01/19/2022 - Forbes: VK Vice President Andrey Rogozov will soon join the TON Foundation. Telegram does not exclude the possibility of integrating TON into its messenger.
▲ 01/19/2022 – Google intends to offer the ability to store cryptocurrency assets on digital cards.
▼ 01/19/2022 – Arcane Research: the correlation between the Bitcoin exchange rate and the S&P 500 indicator has reached a record high since April 2020.
▲ 01/19/2022 – Santiment: Bitcoin stocks on exchange balances reached their lowest level since November 2018. The transfer of BTC to cold wallets indicates a reduction in the risks of continuing large sales.
▲ 19.01.2022 – Glassnode: The cumulative number of coins that haven’t moved in over 1 year has skyrocketed since October 2021 by 5.4% to 58.9%. The situation mirrors the trend of October 2020, when the cryptocurrency “changed hands”.
▼ 01/20/2022 - The Bank of Russia proposed to introduce a ban on the issuance, circulation and exchange of cryptocurrencies in the territory of the Russian Federation.
▲ 01/20/2022 – Representative of the Bank of Russia Elizaveta Danilova: the regulator does not plan and does not propose to introduce a ban on the ownership of cryptocurrencies for citizens.
▲ 01/20/2022 - Bloomberg Strategist Mike McGlone: Bitcoin is completing its transition to a risk-free asset, which will help it rise to $100,000 in 2022.
▼ 01/21/2022 - Bloomberg: the US presidential administration will present a strategy for regulating cryptocurrencies in February.
▲ 01/21/2022 – BitInfoCharts: the difficulty of Bitcoin mining as a result of the next recalculation reached a new record of 217 Eh/s. The 9.3% increase was the largest since August last year.
▲ 21.01.2022 – Bloomberg: Bitcoin is nearing the end of its correction as the Relative Strength Index (RSI) has dropped to the minimum low value (less than 40) at which a trend reversal and return to growth usually occurs.
▲ 01/21/2022 - CryptoQuant: the amount of BTC in the wallets of owners who hold coins for 12-18 months has risen to a two-year high.
▲ 01/22/2022 - Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov: regulation of the cryptocurrency industry in Russia will not begin until autumn.
▲ 01/22/2022 - The Bulgarian government is exploring options for using the crypto payment mechanism.
▼ 24.01.2022 – Business Insider: according to analysts at UBS Bank, the weakening arguments in favor of Bitcoin as a currency and an inflation hedge against the backdrop of tightening Fed policy indicates the potential onset of a “crypto winter.”
▲ 01/24/2022 - The Shiba Inu development team announced their plans to create the Shiberse Metaverse in 2022.
▲ 24.01.2022 - Grayscale has added 25 digital assets to its list of possible contenders for the launch of new investment products. Algorand (ALGO), Cosmos (ATOM) and Decred (DCR) are mentioned among them.
▲ 01/24/2022 – Pantera Capital: Smart contract platforms Solana and Near will take market share from Ethereum in 2022.
▲ 01/25/2022 - Santiment: On January 24, the largest surge in “buy the dip” sentiment (buying on a drawdown) was recorded among crypto investors in the last month.
▲ 01/25/2022 – The head of the State Duma Committee on the Financial Market, Anatoly Aksakov, proposed a test legalization of cryptocurrencies.
EXMO news
A review of the crypto market for the fourth quarter of 2021 has been published.The new analytical report includes data oncapitalization, trading volumes, information about leaders and anti-leaders, as well as correlation of cryptocurrency rates broken down by month and for the entire period under review
This is a short summary of the top crypto news of the week. Follow the link to read the full version of the weekly cryptocurrency review.
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