Trading Volume on Crypto Market Amounted to $36.6T Last Year: Report
In the beginning of January, the value of Bitcoin attempted to surpass $49,000, which it had not reached since April 2022.
However, the rise in popularity of spot crypto funds, which directly invest in digital currency, has caused some turbulence in the market.
Despite its initial attempt, BTC was unable to reach 50,000 and last week the cryptocurrency dropped below $41,000. However, the market slowly recovered in 2023, with digital asset trading volume reaching approximately $36.6 trillion, according to a study by Coingecko.
The market for decentralized finance (DeFi) and tokenized collections (NFTs) has also seen significant growth over the past 12 months.
Experts have observed a rise in the number of users on both centralized and decentralized crypto exchanges.
