LONDON (Bywire News) – This week, the crypto market saw some significant developments accordingly Bullish. The peak trading volume (24 hours) on December 20, 2022 was $669,806,901 (39,868 BTC). Information requests from US law enforcement and agencies were the highest worldwide from Q4, 2021 to Q3, 2022. The US received 4,736 requests, followed by the UK with 1,740 and Germany with 1,668. In addition, requests from regulators for exchanges increased by ~66% year-on-year.
In terms of NFTs, November had its worst month for volume to date, down 90% from its January peak. Ethereum has the highest market share with over 78% over the past 30 days, while LooksRare and X2Y2 have the highest percentage of wash trade volume at 98% and 87% respectively.
In the macro market, US equity markets had a turbulent week. After the Federal Reserve raised rates by 50bps on Wednesday, maintaining a dovish tone, the S&P 500, Dow, and Nasdaq Composite all closed on lower notes. The next day, the index continued to decline for the fourth day in a row. Tuesday saw some relief with the S&P 500, Dow, and Nasdaq Composite all rising slightly. On Thursday, the index saw a strong rebound after consumer confidence data hit its highest level since April. However, the index fell again on Thursday, erasing two days in a row.
Other developments this week include two Ethereum whales transferring a total of nearly $30 million in ETH, Binance US winning a bid for Voyager Digital Ltd, five linked wallets for QuadrigaCX moving ~104 BTC, SBF signing extradition papers, and FTX announcing that it can. use legal means to recover political donations and contributions. In addition, Caroline Ellison and Gary Wang pleaded guilty to federal fraud charges and cooperated with the Justice Department’s investigation, while a US federal judge granted SBF’s release on $250 million pre-trial bail. Finally, Ankr Protocol confirmed in a recent blog post that the December hack was carried out by an employee of the project.
Cryptocurrency Disclaimers and Warnings:
This is not investment advice. Investing in cryptocurrency can be a risky venture and may not be suitable for all investors. Cryptocurrency prices can be very volatile and you can experience huge losses. Before investing, you should carefully consider your financial situation and objectives, and obtain independent financial advice if necessary. You should be aware of the risks associated with cryptocurrency investments, including but not limited to market volatility, regulatory changes, and security risks. You should also understand the potential for illiquidity and lack of liquidity of cryptocurrency investments.
By investing in cryptocurrency, you acknowledge that you have read and understood these disclaimers and warnings, and are willing to accept the risks associated with such investment. You are solely responsible for any losses that may arise from your investment decisions.
