Q3 2022 was a positive quarter for crypto, despite the negative sentiment. The Ethereum Merge was a dominant driver for the whole ecosystem. Although the Merge was a great success, it was a classic "buy the rumor, sell the news" event. Generally speaking, the direction of the whole crypto market is still dominated by FED action and the movement of the USD. Traditional assets including commodities were down, mainly spooked by the FED pivot getting further postponed.

 

Read more in our Digital Asset Quarterly Review.

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