Cryptocurrency Exchanges: Jan-Feb’22 Market Overview

Scalable Solutions: Cryptocurrency Exchanges: Volume, Open Interest, Market Size, Growth and Trends

Key Takeaways of The Jan-Feb’22 Digest:

  • Spot volumes on cryptocurrency exchanges demonstrate a downward trend along with web traffic since November 2021
  • Bitcoin futures volume varied slightly at the beginning of 2022, while trade volume of Ethereum futures showed a downward trend in two months in a row since 2021.
  • Aggregated open interest of BTC and ETH futures fluctuated steadily in January-February 2022 compared to the volatility of the same period a year ago
  • In January 2022, futures market recorded two large liquidations of more than $500m when the BTC rate tested local minimum values
  • The volume of BTC and ETH options in February 2022 slowed down noticeably after remaining steady over 2 months
  • Leading cryptocurrencies updated local minimum in prices since July 2021
  • Market capitalization as of February 28, 2022 achieved $1.8 trillion, which is 23% lower compared to the end of 2021.
  • Fireblocks, FTX and Polygon raised more than $450m in venture funding rounds in 2022

Spot Market

Graph 1. Crypto-only Exchange Volume [10]
Note: Spot market share of cryptocurrency exchanges with primarily only crypto support
Graph 2. Cryptocurrency Exchange Traffic [8]

Futures Market

1) Futures Volume

Graphs 3–4. Volume of Bitcoin Futures and Volume of Ethereum Futures [10]

2) Aggregated Open Interest

Aggregated Open Interest on BTC and ETH futures, January-February 2022 [10]
Graphs 5–6. Open Interest on BTC Futures and Open Interest on ETH Futures [10]
Graph 7. BTC Long/Short Ratio on Binance [10]

3) Liquidations

Graph 8. Liquidations [5]

Options Market

Graphs 9–10. Volume of BTC options and Volume of ETH options [10]

Dynamics of Leading Assets

Graphs 11–12. BTC price and ETH price [2]
Graph 13. Bitcoin: Long- and Short-Term Holder ORPD [2]
Total Market Capitalization [2]

Venture Rounds

Read more:

References:

  1. “Bitcoin Faces Sell-Side Headwinds”. Glassnode, February 21, 2022
  2. “Cryptocurrency Prices”. CoinGecko. March 15, 2022
  3. “FTX Trading Ltd. Closes $400M Series C Round”. PR Newswire, January 31, 2022
  4. “FTX US Closes $400M Series A Round”. PR Newswire, January 26, 2022
  5. “Futures Markets Global Charts”. Coinalyze, March 15, 2022
  6. Hajric, V., Gardner, A. Crypto Trading Volume Slows, Boding Ill for Exchanges. Bloomberg, February 3, 2022
  7. Khatri, Y. Fireblocks raises $550 million in Series E funding, now valued at $8 billion. The Block, January 27, 2022.
  8. Moura, C. “Monthly web traffic to crypto exchanges fell by 20% in February”. The Block, March 9, 2022
  9. “Polygon Raises $450,000,000 From Sequoia Capital India, SoftBank, Galaxy, Tiger, Republic Capital”. Polygon, February 7, 2022
  10. The Block, 16 March, 2021

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