October 2022 market roundup and outlook
In October 2022, crypto assets as a whole were on a positive trend, rebounding from their performance in September. All sectors saw positive returns ranging from +1% to +69% as BTC and ETH rose +6% and +20% respectively.
DeFi assets posted mixed returns ranging from -17% to +49% while green candles piled up across all sectors.Meme Coins, meanwhile, reported a +69% gain this month, significantly outperformed all other sectors. The sector is led by Dogecoin’s rally, DOGE was on the rise even before Musk’s deal was confirmed.It was going up until the deal closed.
To quote Taylor Swift, are we out of the woods yet? Check out the latest market recaps and outlook reports as the team explores what happened last month and what’s to come.
High uncertainty and low volatility
Bitcoin volatility hit its lowest point in months this month, well below the October median volatility of 58%. BTC’s annualized volatility started the month at 65% and closed the month at 32%.
In October, BTC’s positive correlation with gold, commonly seen as a safe haven during economic and geopolitical uncertainties, remained stable throughout the month and is expected to reach 2022. Close to all-time highs.
DeFi headwind
On October 6th, the BNB chain was temporarily suspended after a $100 million exploit on its cross-chain bridge. After the incident, Mango, a Solana-based decentralized platform, suffered a $100 million exploit in an economic attack known as Oracle’s price manipulation just five days after his DeFi underwhelming performance last month. contributed to
sit tight
Despite widespread macroeconomic uncertainty and headwinds in this area, the industry recovered from its September performance with a positive performance in October.
Want to know more about what happened or what will happen? Read Kraken Intelligence’s latest report, Sit Tight. To understand what drives the crypto market.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell or hold crypto assets or to participate in any particular trading strategy. Some crypto products and markets are unregulated and may not be protected by government compensation and/or regulatory protection schemes. Funds may be lost due to the unpredictable nature of the crypto asset market there is. Taxes may be payable on your earnings and the increase in value of your crypto assets, so you should seek independent advice on your tax position.
October 2022 market roundup and outlook
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