CipherTrace report reveals nearly 50% of crypto whole market cap was misplaced in 2022

by Cryptospacey


CoinDesk Consensus

The full market cap (TMC) of crypto property misplaced almost half of its worth between January 2022 and September 2022, based on a latest report by crypto intelligence firm CipherTrace.

Nevertheless, the report did be aware that the TMC grew over 20% between the third and fourth-quarter of 2022.

Crypto market cap (Source: CipherTrace)
Crypto market cap (Supply: CipherTrace)

Based on the numbers, the crypto TMC elevated to $1.05 billion in October 2022 from the $871 million recorded in July 2022. Regardless of this appreciable development, October’s $1.05 billion nonetheless marked a 52% fall from $2.205 billion in January 2022 — reflecting the affect of the coldest winter in crypto historical past.

The report additionally notes that the dimensions of the market cap on the finish of the third-quarter of 2022 indicated a 63% lower from the market cap’s all-time excessive of $2.83 billion — recorded on November 14, 2021.

Defi and NFTs

The Whole Worth Locked (TVL) quantity on the finish of the third-quarter of 2022 sat at round $54 billion — barely exhibiting any distinction from the top of the second-quarter. Nevertheless, the second quarter began with $165 billion TVL — indicating a 67% fall in TVL quantity by the top of the third quarter.

Total value locked by blockchain (Source: CipherTrace)
Whole worth locked by blockchain (Supply: CipherTrace)

From January 2022 to September 2022, Ethereum (ETH) continued to account for probably the most vital TVL quantity. Its yearly excessive was recorded in the course of the first-quarter at 79.9% however fell to 57.12% by the third-quarter.

Whole non-fungible token (NFT) buying and selling volumes additionally mirrored the results of the bear market all through 2022. The combination buying and selling quantity of the highest eight chains fell to $2.3 billion within the third-quarter from the $13.9 billion recorded within the first — marking an 83% lower.

Hacks, thefts, and fraud

The report additionally examines the numerous exploits that befell between January 2022 and September 2022. The numbers point out that the crypto sphere misplaced $383 million to solely seven felony episodes.

Crypto hacks in 2022 Q1 to Q3 (Source: CipherTrace)
Crypto hacks in 2022 Q1 to Q3 (Supply: CipherTrace)

Nomad recorded the biggest lack of over $190 million to a bridge exploit in January 2022 — whereas Wintermute noticed the second-largest loss, dropping $160 million to a hack. Crema Finance ranked third after dropping over $8 million to a flash mortgage assault.

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