The digital asset markets fell throughout the month of December and were outperformed by traditional markets, with the price of ETH retreating the most (-20.6% to $3,676). This decline reflects wider financial uncertainty associated with Omicron and its effect on inflation
January Highlights
- Bitcoin’s price declined 16.7% in January to $36,945, ending the month with a market capitalization of $711bn at the end of the month. This included an intra-month low of $32,990, a six-month low for the cryptocurrency.
- Monthly volumes across the two largest markets Bitcoin markets (BTC/USD and BTC/USDT) fell 22.3% to $132bn and 10.4% to $45.6bn respectively.
- Total USDT volumes for the top five digital assets fell below 300bn for the first time since July 2021. All USDT volumes decreased by more than 20% except ADA, which fell just 1.5%.