Crypto Market Grew by 110% in 2023: Report

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Since April 2022, Bitcoin has reached its highest trading levels, surpassing the $44,000 mark once again last weekend.

However, on the night of Monday, December 11, the BTC rate dropped below this psychological level due to strong resistance from investors who chose to take profits.

According to Binance Research, the total value of digital currencies has increased by 110% or $870 billion since the beginning of 2023, with the fourth quarter seeing the largest increase at 55%.

This spike in investment in cryptocurrencies marks a return to positive sentiment among investors after a prolonged decline.

The rise in the capitalization of stablecoins also indicates a readiness of traders to invest in BTC and other virtual currencies.

The DeFi market, a decentralized finance market, has seen a 25% increase in the value of locked digital assets from January to November, with Ethereum maintaining its top spot in terms of the number of DeFi projects.