2022 Crypto Annual Report: Bitcoin, Ethereum, and Beyond!

•ViaBTC Capital and CoinEx released the 2022 Crypto Annual Report to offer data analysis and insights into nine sectors, including Bitcoin, Ethereum, stablecoins, NFT, public chains, DeFi, SocialFi, GameFi and regulatory policies.
•The report predicts the crypto trend in 2023 and highlights the bearish impact of the Terra meltdown in May on most cryptocurrency sectors.
•Bitcoin’s price and trading volume saw significant declines while Ethereum’s primary statistics trended downward.

In January 2023, ViaBTC Capital and CoinEx jointly released the 2022 Crypto Annual Report to provide detailed insights into the crypto market. The report offered an in-depth analysis of nine sectors, including Bitcoin, Ethereum, stablecoins, NFT, public chains, DeFi, SocialFi, GameFi and regulatory policies. In addition, it forecasts the crypto trend for the upcoming year of 2023.

The report noted that the bearish impact of the Terra meltdown in May significantly affected most cryptocurrency sectors. This, combined with other factors such as the macro environment and bull-to-bear transition, led to a downturn in the whole industry.

In terms of Bitcoin, the overall performance was sluggish with a significant decline in both price and trading volume. The price at the end of the year even fell below the peak of the last bull market. The report attributed the price trend of Bitcoin to the pace of US interest rate hikes, but noted that this impact was gradually diminishing. The mining industry also witnessed a strong crowding-out effect with falling mining revenue and miners having to shut down their old models. This drove owners of small mining farms out of the market.

The primary statistics of Ethereum trended downward in 2022. This was reflected in the secondary market price and transaction volume, as well as other factors such as the hash rate, active addresses, and the number of transactions.

The report further predicted the crypto trend in 2023. It suggested that the bearish market of 2022 would eventually give way to a new bull market, with the total market capitalization of cryptocurrencies expected to exceed the historical high. It also predicted the emergence of new technologies and services, such as the development of privacy coins and the growth of the NFT sector. Finally, the report suggested that regulatory policies would become an increasingly important factor in the crypto market.

Avalanche and Polygon Reach Multi-Month and One-Week Highs Respectively

• Avalanche (AVAX) rose to a multi-month high on Tuesday, after reports that the number of bitcoin on its network rose to 5,493.
• Polygon (MATIC) also moved higher on Tuesday, hitting a one-week high.
• The news saw the tokens surge by nearly 5% today, rising for a third straight session in the process.

On Tuesday, two popular cryptocurrencies, Avalanche (AVAX) and Polygon (MATIC), both saw a surge in price, with AVAX hitting a multi-month high and MATIC reaching a one-week peak.

The surge was the result of reports that Avalanche had seen an increase in the number of bitcoin on its network, with the number rising to 5,493. The news saw the AVAX token rise by nearly 5%, with the token climbing for a third consecutive session in the process. The move took AVAX to its strongest point since November 6, with the token reaching an intraday peak of $18.86 earlier in the day.

In addition to AVAX, Polygon saw a rise in price on Tuesday, with MATIC hitting a one-week high. The token raced to a peak of $1.04, less than a day after hitting a low of $0.9849. This saw MATIC reach its highest level since the beginning of last week, when the token was close to its resistance point of $1.05. However, the momentum was not strong enough to force a breakout, with MATIC currently trading at $1.00, which is also its long-term support point.

Both tokens have seen a good start to the week, with AVAX and MATIC both showing positive signs in the market. The 14-day relative strength index (RSI) of both tokens has also remained above their support points, with AVAX currently tracking at 71.11 and MATIC at 63.27.

Smart Contract Token Economy Soars: $78B Gained in 30 Days!

• Smart contract tokens and the decentralized finance economy have seen significant growth over the last 30 days, increasing in value from $243 billion to $321 billion.
• The total value locked in decentralized finance (defi) has risen by $5.39 billion in the same time frame.
• Ethereum (ETH) and cardano (ADA) experienced double-digit losses in the week of Dec. 18, 2022, but have seen significant growth since then.

The last month has been an incredibly positive one for the smart contract token economy and the decentralized finance (defi) sector. Over the last 30 days, the market capitalization of the smart contract platform token economy has swelled by $78 billion, increasing from the Dec. 18, 2022, total of $243 billion to the current $321 billion. Additionally, the total value locked in decentralized finance has risen by $5.39 billion in the same time frame.

Ethereum (ETH) and cardano (ADA) experienced double-digit losses in the week of Dec. 18, 2022, but have seen significant growth since then. Other leading smart contract platform tokens such as Oneledger, Harmony, and Waves have seen even higher gains over the last 30 days. Oneledger, for example, is up over 200% since the start of the month, while Harmony and Waves have both gained more than 150%.

The growth of the smart contract token economy and the decentralized finance sector in the last month has been remarkable, and it is likely to continue in the near future. As more users and investors become aware of the potential of the smart contract platform token economy and the defi sector, it is likely that the market capitalization and total value locked will continue to increase. It will be interesting to see if the growth of the smart contract token economy and the defi sector can be sustained in the long term.

Smart Contract Platform Tokens Rally as Defi TVL Surpasses $40 Billion

• Smart contract platform tokens have seen double-digit gains and the total value locked in defi has jumped above $40 billion for the first time since mid-December 2022.
• The top smart contract platform coins by market capitalization increased 7.1% on January 9, 2023, and most have seen double-digit gains over the last week.
• Lido Finance has emerged as the most dominant defi protocol, surpassing Makerdao in TVL size.

Smart contract platform tokens have seen a surge in their prices over the past week, and the total value locked in decentralized finance (defi) has jumped back above the $40 billion mark for the first time since mid-December 2022. The top five smart contract platform coins by market capitalization saw an average increase of 7.1% on January 9, 2023, with Solana (SOL) experiencing the highest gain at 24.2%. Additionally, all five of the top smart contract assets have seen double-digit spikes over the last seven days, with SOL leading the pack at 72.3%.

The increase in the price of smart contract platform tokens has had a direct impact on the total value locked (TVL) in defi, as it has climbed back above the $40 billion milestone. Lido Finance has emerged as the most dominant defi protocol in terms of TVL, surpassing Makerdao in size. The entire crypto economy has also seen a boost, rising 3.6% to $893 billion on Monday around 11:00 a.m. (ET).

The rise in the prices of smart contract platform tokens could be attributed to the increased demand for these assets as a means of accessing the defi space. The surge in the prices of these tokens has been further compounded by the fact that more and more users are entering the space, and the total amount of value locked in defi continues to climb.

This surge in the prices of smart contract platform tokens could also be seen as a sign of the growing maturity of the defi space. As more users enter the space, more capital is being deployed into various defi protocols, which could lead to further growth in the future. It is also likely that the continued increase in the total value locked in defi will further fuel the rally in the prices of these tokens.

Overall, it is clear that the prices of smart contract platform tokens have been on a steady rise since the start of the year. With the total value locked in defi now above the $40 billion mark, it is likely that this trend will continue into the future. As the defi space continues to mature and more users enter the space, it is likely that the prices of these tokens will continue to rise.

Solana and Cardano Surge to Highest Levels Since November

• Solana (SOL) surged by as much as 22% on Monday, reaching its highest point since November.
• Cardano (ADA) also moved higher, climbing by nearly 13%.
• Monday’s rally saw both tokens break out of key resistance levels, pushing their respective 14-day RSI to overbought levels.

Cryptocurrency markets saw an influx of bullish sentiment on Monday, as two of the market’s major players, Solana (SOL) and Cardano (ADA), surged in price. The surge saw both tokens hit their highest point since November, when the market was embroiled in the FTX/Alameda scandal.

Solana (SOL) was one of the major movers on Monday, as prices of the token rose by as much as 22%. SOL/USD surged to an intraday high of $16.62 to start the week, which comes less than 24 hours after trading at a low of $13.47. This move saw Solana hit its strongest point since November 12, when the token plummeted following the FTX/Alameda scandal. Analysts attribute this surge in price to a breakout of a key resistance level at the $15.00 mark, which pushed the 14-day relative strength index (RSI) to 73.26, its highest point since April.

Cardano (ADA) was another major gainer on Monday, climbing by nearly 13% to start the week. Following a low of $0.2865 on Sunday, ADA/USD hit a high of $0.3409 earlier in today’s session, breaking out of a ceiling at $0.3250 and pushing the 14-day RSI to a level not seen since September 2021.

As of writing, both Solana (SOL) and Cardano (ADA) have pulled back slightly, trading at $16.07 and $0.3247 respectively. While Monday’s rally has been significant for both tokens, some analysts have suggested that the recent surge in prices could be due for a reversal, as both tokens are now relatively overbought. However, given the overwhelming bullish sentiment in the market, it remains to be seen whether or not the prices of both tokens can be sustained.