Crypto Market Grew 110% This Year: Report

Bitcoin has reached its highest price levels since April 2022 and surpassed the $44,000 mark again last weekend.

However, it dropped below this mark on the night of Monday, December 11 due to investors cashing out their profits.

According to Binance Research, the overall value of digital currencies has increased by $870 billion (a 110% increase) since the beginning of 2023, with the largest growth observed in the fourth quarter (+55%).

This marks the first time since 2021 that investments in cryptocurrencies have risen, signaling a return to positive sentiment among investors.

The rise in stablecoin capitalization also indicates a readiness among traders to invest in BTC and other virtual currencies.

Additionally, the DeFi market saw a 25% increase in the value of digital assets locked in, with Ethereum remaining the top blockchain in terms of DeFi projects.