Welcome to the Crypto.comMonthly Research Roundup Newsletter!
1. Market Index
The 30-day price and volatility indices were positive at +24.98% and +15.13%, respectively, while the volume index was negative at -12.12%.
2. Crypto Market Sizing
Global crypto owners increased by 39% in 2022, rising from 306 million in January to 425 million in December.
Despite industry headwinds, crypto adoption achieved new milestones with steady growth in the first half of 2022, followed by second-half growth driven by investment in major coins, particularly Ethereum (ETH). This growth included Bitcoin (BTC) ownership growing by 20% from 183 million in January to 219 million in December (52% of global cryptocurrency owners), and ETH ownership growing 263% from 24 million in January to 87 million in December (20% of global cryptocurrency owners).
The report was based on Crypto.com’s on-chain market sizing estimates, combining on-chain data with blended parameters to estimate the number of global crypto owners.
In this special year-end report, we selected the top ten events and developments of 2022, followed by our outlook for key trends in 2023.
Looking back at 2022, the crypto industry witnessed both impressive milestones and tumultuous times. We applauded the successful transition of Ethereum to proof-of-stake via The Merge and celebrated crypto retail adoption surpassing the 400 million user milestone. This happened against the backdrop of challenging macroeconomic conditions globally, where we saw a drop in market volumes as well as a few high-profile bankruptcies. In hindsight, 2022 has been a ride for the crypto industry.
Regardless of the highs and lows of the market or global economy, innovations and developments continued in the crypto industry. In 2022, the builders were hard at work as usual: they kept growing layer-1 and layer-2 ecosystems, introducing new use cases for NFTs, brainstorming creative ways to construct digital identities, and more.
Looking ahead to 2023, we are optimistic that crypto adoption—both retail and institutional—will continue growing at a steady pace. We are excited about new infrastructure developments and how they will make blockchains more scalable, such as modular blockchains and the advancement of parallel processing. Also, we are watching for more utility-based use cases to emerge in DeFi, as well as the birth of higher quality blockchain games, including AAA titles. Overall, we remain bullish on Web3 and look forward to seeing more innovations around digital identity and social networks.
Finally, 2022 was a reminder to everyone that security sits at the foundation of any business. We are hopeful that companies and projects will continue investing in strengthening their security, together with educating users to empower them to make informed decisions.
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4. Alpha Navigator
This institutional-focused report dives into macro trends, market-neutral pair trades, style-factor screens, and event-driven ideas. Read the full Alpha Navigator report here.
Risk assets struggled in 2022 amid macro headwinds, namely interest rate hikes, the conflict in Europe, continued supply chain disruptions, and the lingering effects of the pandemic. Commodities, driven by oil, was the only asset class that rose.
Options implied volatilities (vols) started the new year at subdued levels, in line with a market experiencing a general lull in trading activity.
5. Crypto Conference & Economic Calendar from Market Pulse
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