December 11, 2023

EXMO company blog | News of the week: BTC panic sale

EXMO company blog | News of the week: BTC panic sale

News of the week - a source of information about key events in the crypto market.</p>

Crypto market capitalization for 7days decreased by 4.8% - to $ 2.2 trillion,according to CoinMarketCap. Over the month, the figure fell by 23%. The median value over the past 30 days is $2.5 trillion.

Reduced trading activity was observed during the week.On December 12, daily trading volumes dropped to$70 million is the lowest value since the end of July. On December 15, the figure was at about $100 million. Average daily trading volumes for the week amounted to approximately $95 million. Over the past 7 days, their value has decreased by 4.8%.

Cryptocurrency index of fear and greed during the week continued to fluctuate within the zones of "Fear" and "Extreme fear".The median value for the week was 27 points. The worst sentiment was recorded after Friday - on December 11, the index was 16 points. The index value on December 15 was 28 points.

Bitcoin's share in the market recovered somewhat over the week after hitting a 3-month low earlier.On December 15, BTC dominance was atlevel of 41.5%, which is 1.5% higher than the figure on December 8. The share of ether during the same time decreased by 1.1% to 20.9%. However, the asset's dominance remains higher than the last four years.

Bitcoin's 30-day volatility index continued to rise.Over the past 7 days it has increased by 0.47% to 3.76%. Over the month, the growth was 0.99%.

TOP factors of market movement

▲ 08.12.2021 - Santiment: On December 8, amid the LINK rate rise above $ 22, whales switched to moderate accumulation. Addresses with balances from 100 thousand to 10 million LINK purchased an additional 3 million tokens. They now own 23.6% of all coins in circulation.

▲ 12/09/2021 - Bloomberg Senior Strategist Mike McGlone: ​​Mass adoption of cryptocurrencies will begin in the US as early as 2022.

▲ Dec 10, 2021 - CoinDesk: Turkish Lira's trading activity against Shiba Inu and Tether is more than 5 times higher than Bitcoin's against the backdrop of a sharp devaluation of fiat currency.

▲ 12/12/2021 - Glassnode: The number of bitcoin addresses making transactions on the exchange hits a new 13-month low.

▼ 12.12.2021 - Survey by Natixis Investment Managers: more than 50% of institutional investors expect the cryptocurrency market to undergo a competition in the next year.

▲ 12/13/2021 - German savings banks have begun work on a cryptocurrency wallet project for digital asset transactions.

▼ 12/13/2021 - On January 13, 2022, the Canadian crypto exchange Bitbuy will join the number of trading platforms that have delisted XRP.

▲ 13.12.2021 - CoinShares: last week, tron-based funds were the third in terms of inflow of funds - $ 17.2 million. Thanks to this, they overtook funds based on cardano and polkadot in terms of the amount of funds under management: $ 92 million versus $ 68 million and $ 89 million, respectively.

▼ 12/14/2021 - Investors filed a class action lawsuit against the issuer of stablecoin Tether, accusing it of "illegal and fraudulent" practices.

▲ 12/14/2021 - Stellar Development Foundation announced the launch of a pilot project of electronic hryvnia based on the Stellar blockchain by the Ukrainian bank Taskcombank.

▼ 12/14/2021 - Santiment: over the past 7 days, the aggregate balance of addresses containing from 100 to 10 thousand BTC fell by about 40 thousand BTC.

This is a brief summary of the main crypto news of the week. Follow the link to read the full version of the weekly crypto market review.