Have You SEEN THIS Crypto Report?! What It Says!!

The first half of 2022 was the worst Ever for the crypto market This is mainly because of events that Occurred during the second quarter such As terror’s collapse and three arrows Capitals insolvency A recent report by one of the most Popular crypto websites has examined Exactly what happened during this Chaotic second quarter and how it could Affect cryptocurrency in the remaining Half of this year Today i’m going to give you a bit of Background about this report summarize What it says in simple terms and tell You what it could mean for the crypto Market going forward [Music] Before we look at any facts and figures There’s a disclaimer i need to configure Nothing in this vice is financial advice Please don’t be triggered i’m just an Educator and entertainer that talks About crypto with vigor contact a Financial advisor if your portfolio has Been disfigured If this is your first time seeing my Smile my name is guy and i am a Cryptophile The coin bureau creates high quality Crypto content filled with facts and Stats that are often wild coins tokens News and reviews are just a few of the Topics i compile

So if you plan on staying for a while Subscribe to the channel and give that Notification bell a dial Now that you know my style let’s start Digging through this research pile The report in question has been produced By popular crypto price tracking site Coin gecko i’m sure you’re all familiar With it if not may i recommend our video Where we compare it with coin market cap And that will be in the description for You i’ll also link to the full version Of the coin gecko report if you want to Read it for yourself and now on with the Show The report begins with a note from Coingecko’s founders where they talk About how crypto lost more than half of Its market cap during q2 and how this Was due to a combination of macro Factors and tera’s collapse naturally The founders also mentioned three arrows Capital and how its insolvency took down Crypto platforms that were exposed to it Like voyager digital and also note the Gradual decline in the nft market On a more positive note the founders Point out that many crypto ecosystems Continue to thrive despite the bear Market that most of the leverage has Been flushed out by the recent crashes And that many crypto companies and Projects continue to operate as usual Including coin gecko

The first part of the report provides an Overview of the crypto market As mentioned in the reports intro crypto Lost nearly 56 of its market cap during The second quarter of this year and is Or rather was 70 down from its november Highs What’s interesting is that trading Volume during the second quarter was Essentially the same as the first Quarter suggesting the same pool of Traders and investors has stuck around Since that time The authors then turn to the market Dominance of the top 30 cryptocurrencies For reference market dominance means how Much of the total market cap is coming From a single cryptocurrency As you can see btc’s dominance remain The same while eths fell significantly In june I suspect this has to do with the news That ethereum developers had delayed Ethereum’s difficulty bomb For context the difficulty bomb is meant To motivate ethereum miners to Transition from proof of work to proof Of stake As such a delay in the difficulty bomb Was interpreted by eth investors as a Sign that the merge wasn’t happening Anytime soon but as we now know it looks Like the merge will occur towards the End of september more about that in the

Description Now another interesting thing the Authors found was that bitfinex’s Exchange token leo was the only Cryptocurrency that didn’t end up in the Red during the second quarter of this Year If you watched our video about exchange Tokens you’ll know that this is only Because exchanges will use trading fees To buy back and burn their native tokens Causing their prices to go up Artificially If you watched our recent video about Bnb you’ll know that this practice is Starting to attract the scrutiny of Regulators and let’s just say that There’s no shortage of such scrutiny in Bitfinex’s case When it comes to the market cap of Stable coins nearly 39 billion dollars Was lost as a result of terrorist Collapse tethers usdt lost 20 percent of Its market cap with circles usdc picking Up most of the slack The authors note that this is evidence That investors were cashing out of Crypto completely during q2 Not surprisingly the authors found that The top 30 cryptocurrencies by market Cap are strongly correlated to the s p 500 stock index specifically 0.92 out of A max correlation score of 1. This suggests that stocks were the

Primary drivers of crypto prices during Q2 Next the authors provide an awesome Timeline of all the significant events That occurred in crypto during the Second quarter of this year and they Include just about everything you’d Expect steppen banned in china harmony Bridge hack greyscale’s etf application Rejection by the sec and so on Now the second part of the report Provides an analysis of bitcoin and it Starts with this scary chart that shows How btc briefly fell below its previous Bull market top of 20k in june If you watched our video about how low The crypto market could go you’ll know That btc could fall as low as 10k later This year and the bear flag forming on Its monthly chart suggests this could Happen more on that later Meanwhile bitcoin’s hash rate only Continues to climb and even managed to Set an all-time high in june for those Who don’t know bitcoin’s hashrate is a Measure of how much computing power is Connected to the bitcoin blockchain When comparing btc to other assets the Authors found that the only ones that Saw any gains were oil and the us dollar Both of which rose by seven percent During q2 This might have something to do with the Fact that the us dollar is basically

Backed by oil But let’s not go there The third part of the report provides an Analysis of ethereum and it starts with An even scarier chart that shows how eth Fell by nearly 70 percent during q2 ouch The authors attribute this crash to lido Finance’s staked eth token notably its Use in terror’s now defunct anchor Protocol its use by ailing crypto Platforms like celsius and its exposure To failed hedge funds like three arrows Capital Next the authors provide an updated Timeline for ethereum’s transition from Proof-of-work to proof-of-stake which is Already a bit out of date but puts the Merge in q3 this year which is Technically correct What’s interesting is that the authors Found that the amount of eth being Staked on ethereum’s beacon chain seems To be peaking at around 11 percent of Eth’s total supply The authors also note that lido finance Remains the largest single staker of eth At over 32 percent Then the authors show just how much lydo Finances staked eth token deviated from Its peg relative to eth but it’s Important to note that this peg was Quickly restored after ethereum Developers confirmed a tentative date For the merge

The fourth part of the report provides Some perspective about terror’s collapse It starts with an image i’m sure most of You are familiar with and that’s ust’s Disastrous de-pegging from one dollar to Zero I couldn’t help but notice that the Authors state that quote crypto’s Darling stable coin jumped off a cliff With the first four letters of jumped Being capitalized which is a bit odd If you ask me this is a subtle reference To jump crypto a crypto trading and vc Firm that was heavily involved in Terra’s ecosystem and is rumored to have Lost lots of money defending ust’s peg In any case the next image is another I’m sure most of you are familiar with And that’s luna’s painful implosion from 120 Down to zero The authors also note that luna’s supply Increased by a whopping 1.9 million Percent before terror’s validators Turned off the mint and burn mechanism Next the authors provide a detailed Timeline of terror’s collapse and what’s Interesting is that they don’t mention The alleged attack on the for pool on Curve finance that occurred shortly After the terror team withdrew ust Liquidity the exact timing of which was Not publicly known Investigations by on-chain analytics

Platforms such as chainalysis suggest That this alleged attack is what caused Ust’s initial de-pegging something which Subsequent investigations found was Exacerbated by celsius withdrawing Massive amounts of ust from anchor Protocol out of caution The authors of this crypto report seemed To blame terra’s collapse on the broader Crypto market conditions which certainly Played a role as well You can find out what our exclusive Investigation into terra’s collapse Found using the link in the description Now on the next page the authors provide What is probably the best infographic I’ve seen about the second order effects Of terror’s collapse On the left side you have all the Institutions which invested in terror Including jump crypto on the top left You have the crypto projects and Platforms that were exposed to terra Such as celsius and on the bottom left You have all the different stable coins That were depict These also included lido finance’s Staked eath token but i would argue that It’s not really comparable to these Stable coins as it was not meant to be Pegged Its tokenized staked eath which is not 100 equivalent to eth Any who on the right side you have three

Arrows capital which was of course Exposed to terror on the top right you Have all the different crypto projects And platforms that were exposed to three Ac and on the bottom right you have all The crypto companies with exposure to 3ac truly an amazing picture The authors then provide more details About how celsius blockfi and voyager Digital were affected by terrorist Collapse and 3ac’s insolvency I suggest checking out our video about 3ac’s insolvency if you’re interested in That it will be in the description Anyways the fifth part of the report Provides an analysis of the Decentralized finance ecosystem and it Starts with yet another unsurprising Chart which shows how the total defy Market cap fell by nearly 75 percent During the second quarter of this year a Crash caused mostly by terror’s collapse What’s annoying is the authors don’t Actually note which cryptocurrencies They count as being part of their d5 Market cap measure which is something I’d really like to know as a crypto Holder and investor Now the silver lining to this sad Statistic is that the number of d5 users Only declined by about a third during q2 This year The authors note that the number of Daily active d5 users is currently

Around 30k but i reckon the monthly Active defi user count would provide a More accurate picture of engagement What’s fascinating is that the authors Found that users flocked to Decentralized exchanges when centralized Exchanges were having issues with lunar And ust and users flocked to d5 Protocols after celsius paused Withdrawals this is actually something i Mentioned in one of my recent live Streams on coin bureau eclipse you can Check that out using the link in the Description shameless plug i digress Consistent with the decline of crypto’s Market cap the total value locked in d5 Protocols across major smart contract Cryptocurrencies fell by just over 55 Percent during the second quarter This makes me wonder how much of this Tvl was just the value of the volatile Coins and tokens being used in these Protocols Next the authors reveal the different d5 Categories their share of the d5 market And how much they dropped during q2 Unfortunately the authors don’t provide Specifics about individual d5 projects The main takeaway just seems to be that Dexes are the biggest slice of the d5 pi At 44 Now the sixth part of the report Provides an analysis of the nft Ecosystem and it starts by shedding the

Spotlight on the massive decline in nft Trading volume since the start of the Year The authors note that solana and bnb are Becoming popular nft chains because of Steppen and they throw shade at ronin Axi infinity’s side chain by saying that Quote the bridge hack and a collapse in Player revenue is the final nail in its Coffin a pretty bold claim if you ask me More about axey infinity in the Description Now as far as nft marketplaces go the Authors found that even though open seas Is still the biggest nft marketplace by Trading volume its dominance is on the Decline due to new competitors like Magic eden an nft marketplace on solana If you ask me open seas decline is less Due to competition and more due to the Controversial things the platform has Done such as freezing nfts and blocking Users in sanctioned countries In terms of nft trends the authors Believe that nft investors are moving Away from move to earn and silly nfts With no utility and moving towards nft Profile pictures and nfts that are Actual art like those found on art Blocks you heard it here first folks The authors finished this part of the Report by focusing on solana’s nft Ecosystem which is as interesting as it Is unfortunate as it would have been

Great to also see what other nft Ecosystems are looking like on ethereum Competitors like cardano avalanche and Algorand The seventh part of the report provides An analysis of cryptocurrency exchanges It starts with a surprising statistic And that’s that trading volumes on Centralized and decentralized exchanges Only fell by 11 During q2 The authors note that centralized Exchanges are starting to increase their Dominance despite all the risks Associated with centralized crypto Platforms these days This could be because traders and Investors are using centralized Exchanges to cash out Alternatively this increase in dominance Could be coming from the fact that some Exchanges like binance recently slashed Trading fees which would explain why Binance’s dominance increased Significantly during q2 Ftx’s dominance also doubled during this Period but the authors note that quote No one can compete with binance as they Have grown their market share to capture Almost 50 percent of the entire market Which is another bold claim but probably Nothing more than awkward wording By contrast ok x and crypto.com’s Dominance decreased by 50

Each and i suspect that’s because of What’s been going on with cro more about That in the description Anyhow most of the decline in exchange Trading volume came from decentralized Exchanges whose trading volumes fell by Nearly 40 percent during q2 The authors note that uni swap dominates The dex market accounting for 60 percent Of total dex trading volume They also note that curve finances Trading volume increased significantly During q2 probably because of the flight To safety aka stable coins curve finance Is a stable coin dex if you didn’t know Next the authors examine derivatives Such as futures trading which involves Speculating on the future price of a Particular coin or token often with Leverage aka debt As with regular trading volume Derivatives trading volume didn’t Decline by all that much during q2 It’s a similar story for open interest Aka derivatives trades waiting to be Filled where up and coming Cryptoexchangegate.io briefly managed to Overtake ftx as the second largest Exchange by open interest Just goes to show you how vicious Competition is in the crypto industry Then there’s funding rates aka how much Money traders are putting down to cover Their long or short positions and here

The authors note that crypto’s recent Price action has turned traders off Speculation which is good news for Crypto market volatility The authors end the report by examining The assets under management for Greyscale’s bitcoin trust and the pro Shares bitcoin futures etf which was Approved in october last year The authors note that the assets under Management for both institutional Investment vehicles collapsed by more Than 50 percent alongside btc’s price Which isn’t all that surprising The authors also note that the gbtc Discount fell below 30 percent after the Sec rejected grayscale’s spot bitcoin Etf application If you’re wondering what gbtc is and how It’s different from a spot bitcoin etf Check out the video in the description So this brings me to the big question And that’s what the findings of this Report mean for the crypto market well If crypto’s current price action didn’t Make it clear enough the massive purge We saw in q2 has set the stage for a Serious recovery rally which we’re Arguably in However It’s only a matter of time before the Markets realize that all the macro Factors which caused the recent crypto Crashes haven’t been resolved and this

Could take crypto to new lows In fact you could make the argument that Crypto hasn’t seen peak capitulation and Not just because many institutional Investors like kevin o’leary believe we Haven’t seen total panic yet Although crypto prices have taken a Beating recall that the number of daily Defy users has remained relatively Stable by comparison that trading Volumes have barely budged and that Bitcoin’s hash rate continued to climb Even while btc’s price Crashed if what we saw over the last Half year had truly been max payne then It stands to reason that all these Metrics would have fallen by much more Take the bitcoin hashrate for example If you watched our video about how low Btc could go you’ll know that the Bitcoin hash rate fell by nearly 50 Percent in previous bear markets but We’re only 10 off the most recent hash Rate highs Not only that but consider that only two Entities that were exposed to terror and Three arrows capital have collapsed Recall that there were nearly two dozen Exposed entities and we’re still getting News about some of these running into Serious trouble Never mind all the cryptos that 3ac Could soon sell If you’re wondering when the current

Recovery rally could end my bets are on Mid to late september when ethereum’s Merge is expected to occur and when the Federal reserve will return from its Summer holiday with what’s likely to be A fresh rate hike to fight inflation Speaking of which the autumn is also When many parts of the world could start To face skyrocketing energy costs in Anticipation of oil and gas shortages Over the winter something that would Almost certainly do serious damage to Assets across the board say for oil gas And the us dollar of course Europe is the elephant in the room in This regard and if you’re wondering how It ended up in this energy situation you Can find out using the link in the Description And that’s all for today’s summary of Coin gecko’s crypto report if you Enjoyed it smash that like button if you Want to make sure you don’t miss the Next video subscribe to the channel and Ping that notification bell While you wait you can check out coin Bureau clips for live streams and Emergency market updates and tune in to The coin bureau podcast for deep dives Into various crypto topics You can also follow me on twitter tiktok And instagram for memes and behind the Scenes and you can join my telegram Channel to get crypto market updates

Every day If you’re wondering what cryptos i hold As part of my portfolio you can find out By subscribing to my weekly newsletter Where i also reveal what coins and Tokens i’ll be covering next If you want to support what we do head On over to the coin bureau merch store And pick up some crypto apparel that’s Right for you links to all these Resources can be found in the Description Thank you all so much for watching and i Will see you in the next one until then Stay cool stay safe and Stay crypto [Music]


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