Bitcoin’s market cap value increased by 39% in January: Report
The largest and most expensive cryptocurrency in the world, Bitcoin, saw a rise in market capitalisation of 39 per cent in January, per a report by BitcoinCasinos.com.
The currency continues to recover from the sharp decline it experienced in the second half of 2022.
According to the report obtained by Peoples Gazette on Tuesday from BitcoinCasinos.com, the total market value of cryptocurrencies increased by 35 per cent in January, reaching $1.8 trillion, with Bitcoin accounting for 41 per cent ($445 billion) of all cryptocurrency gains this week.
At $193.3 billion on Monday, Ethereum’s market cap represented 17 per cent of all market capitalisation, up from $147 billion one month earlier.
Tether, BNB, and USD Coin, together with a market cap of almost $160 billion, accounted for another 18 per cent of the value of the global cryptocurrency market.
2022 has been one of the most difficult years for the crypto industry, with value of the largest cryptocurrencies in the world declining by hundreds of billions of dollars.
However, after a protracted crypto winter, January saw all the top digital coins experience double-digit price growth.
According to the report, the two most valuable cryptocurrencies, Bitcoin and Ethereum, saw price increases of 39 per cent and 32 per cent in January.
NB and XRP saw price increases of over 20 per cent.
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