FootprintAnalyticsAnalyst: grace@footprint.network

Jan. 2022

DataSource: FootprintAnalytics December Monthly Report Dashboard

In December, the growth of the cryptocurrency market slowed down after the breakthrough growth in various areas in November. The total value locked (TVL) in DeFi failed to surpass $300 billion and instead dropped to $270.69 billion, a decrease of 5.23% compared to the previous month. BTC and ETH experienced a flash crash, while the NFT trading market saw a slight rebound. In this report, we will analyze the overall situation of the cryptocurrency market in December based on data from FootprintAnalytics.

BTC and ETH experienced a flash crash, with a drop of over 20%

According to FootprintAnalytics data, in December, the price of BTC dropped from $57,179 to $46,472, a decrease of 23%. The highest daily trading volume in the month reached $57.7 billion, and as of December 31, BTC's MarketCap was $8.8 trillion. The price of ETH dropped from $4,592.82 to $3,695.60, a decrease of 24.2%. The highest daily trading volume in the month reached $40.3 billion, and as of December 31, ETH's MarketCap was $4.4 trillion.

The flash crash of BTC and ETH this month may be the result of multiple factors in the market. Excessive leverage and a large number of open futures positions, sluggish growth in the number of active addresses, and lack of liquidity were some of the reasons. Additionally, this month, cryptocurrency exchanges completed the withdrawal of users from mainland China, which also had some impact, including major exchanges like Hu