2022 has been a very turbulent year so far for the cryptocurrency market, with words like contagion, death spiral, and recession entering the vocabulary, a far cry from the bullish-only environment of the previous year. I’m here.
However, there was some uptick in relief in July. Inflation hasn’t completely come down, but at least it hasn’t picked up and is at the same level it was in June. In this era of constant bad news, it feels like a big win.
Investors remain terrified amid the cost of living crisis and massive uncertainty, but markets weren’t the catastrophe they were last month.
Of course, that includes cryptography. With Bitcoin rising from a low near $17,000 to around $24,000, liquidity is starting to return, at least a little, to other areas of the market.
This is what makes Bybits Head of Crypto Insights Charmin Ho and her monthly report so interesting this month. She works on monthly surveys published by ByBit in collaboration with blockchain analytics firm Nansen. This week, she hopped on the CoinJournal podcast to discuss some of the findings from her report.
This report is an interesting read when looking at the different sectors of the market. Focusing on the on-chain Ethereum flow, which suggests capital is still fleeing the market this welcomed respite indicates nothing more than a bearish rally rather than a trend reversal.
We also evaluate NFTs. NFT actually looks a little healthier than expected. Charmin was also particularly drawn to her GameFi sector, and when one day she stumbled across a game called her Axie Infinity, she wondered how she was spared before finding her way into crypto through her love of gaming. A great story about how you got started as a teacher.
This week’s episode discussed this and more.
fun!
Spotify link here.