A quick recap of the market health assessment according to the research team at Kraken; Kraken Intelligence. The report is called " Weathering the Storm."
- BTC gained close to 20%, and decreased in volatility from near 90% to near 60%.
- ETH volatility at 105%, gaining 59% for the month.
- Meme coins saw the least growth this month at 8%. The rest of the sector growth ranks as follow
- ETH (57%), Metaverse (35%), DeFi (52%)
-Defi Loser AMP(-4%) Defi Winner YFI (100%)
- NFT Markets showed signs of recovery; month over month, daily users increased by 5.3% and daily transactions increased by 12.9%.
- BTC maintains positive correlation to NASDAQ and S&P 500, and continues to divert in correlation with gold and treasuries.
- Number of ETH whales remained fairly static, while BTC saw a decrease in whales and whale holdings.
ETH outperformed BTC by 1.5 to 1.
- The Chapter 15 and Chapter 11 bankruptcies filed by 3AC and Voyager Digital/ Celsius Network early in the month were covered.
- MakerDAO voted on and approved a proposal to give Pennsylvania based Huntingdon Valley Bank the right to borrow against their assets.
- Polygon was chosen to participate in Disney's 2022 accelerator program.
- Animoca Brands forms a DAO consisting of Web 3 Companies such as Dapper Labs, Decentraland, Sandbox, and Star Atlas. OMA3. Open Metaverse Alliance for Web3.
- Ethereum merged successfully launched on Sepolia Testnet. ( July 7)
- Vladmir Putin signs law banning digital assets as payments (July 15)
- Elon Musk sells 75% of his BTC.
- European Central Bank raises interest rate for first time in 11 years; .5%
- Federal Reserve raises rate by .75% for the second month in a row.
Check out the report yourself in the link; it's a decent recap of a wild month.
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