CRYPTOCURRENCY AND CRYPTOGRAPHIC MARKET | OVERVIEW, 2022

CRYPOCURRENCY AND CRYPOGRAPHICS MARKET OVERVIEW IN 2022

Crypto Market overview in 2022, crypto market has been bearish. The market has not been favorable for investors since the first half of the year. The bear encroached into the market at the end of 2021, though the loss and profit in crypto space depends on the investor's action. Bitcoin is the first decentralized currency created by Satoshi Nakamoto in 2009. Crypto Market has gained the trust of millions of people in the world starting from the invention of bitcion which controls the entire cryptocurrency market which makes it the focus of general analysis on cryptocurrency (i.e Bitcoin controls the alternate coins also known as Alt coins). Major Alt coins in 2022 includes Ethereum, BNB (Binance Coin), Solana, Mana, Elrond, XPR, Algorand, Enjin. Crypto currency became vast with the introduction of new sectors (DeFi, Metaverse, Meme coins e.t.c.)

Crypto-graphics assets (Non-fungible Tokens) on the other hand, gained more popularity in 2022. The cryptocurrencies sent into Non-fungible Tokens in the first half of 2022 is closed to the amount sent in through out 2021 according to analysis. According to chainanalysis Non-fungible Token investors sent in $40,000,000,000 worth of cryptocurrencies into the market through 2021 while in the first half of 2022 investors have sent $37,000,000,000 into the market. 

Market Overview in 2022: The overview analysis is drawn from bitcoin which controls the entire crypto.

• January: -19% Bitcoin coin decreased in price from December 2021 to January 2022 by 19% this was a major melt down from the all time high.
• February: -0.3% There was resistance which led to a spike in March.
• March: 24% This has been the highest increase in 2022.
• April: -17% Another melt down.
• May: -18% Drop in price from April to May.
• June: -36% Second major melt down in 2022.

Hence, this flow in Bitcoin affected the entire cryptocurrency market. The double major melt down sent so many alt coins to crash.

GLOSSARY

• ALT COINS: All cryptocurrencies aside from Bitcoin.
• BLOCKCHAIN: A digital ledger of transaction.
• CRYPTOGRAPHY: The act of protecting information and transactions through the use of code.
• CRYPTOGRAPHICS ASSETS: These are Non-fungible Token(s).
• CRYPTO MARKET: Buying and selling of crypto currencies and Nfts through the appropriate websites and App(s).
• DeFi: Decentralized Finance is a technology used to eliminate third parties in financial transaction.
• METAVERSE: This is a unified network of 3D virtual worlds.
• NFTS: Non-fungible Tokens are digital certificates built on blockchain. 
• CRYPTOCURRENCY: A digital currency supported by a decentralized system using cryptography.