Cryptos Nosedive on the Last Friday of 2022

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Stablecoins rule the trading volume, while the last Friday concludes with relatively quiet action in the year of extreme crypto turmoils.

2022, the year of one of the most extreme crypto winters, is approaching a conclusion. This year, the market witnessed what the investors must not have imagined in their wildest dreams.

It is the first time in the history of Bitcoin that all the quarters of the year are negative.

Crypto enthusiasts will remember this year for the much-awaited Ethereum Merge and unexpected events such as the collapse of Luna, Three Arrow Capital, centralized lending protocols and exchanges, and eventually, the world’s second-largest exchange, FTX. Let’s dive into the actions of the last crypto Friday of 2022.

Stablecoins Dominate the Trading Volume

The crypto market was quiet on the last Friday of 2022, considering the holiday season. However, most cryptocurrencies have dressed in Santa’s favorite color – Red.

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