OKX Ventures, the investment arm of the prominent crypto Exchange OKX, has recently published a roundup covering the crypto market performance in the last month. The investment institution expressed that the crypto scenario in February 2023 was comparatively stable. It means that the previous devastation in the industry is now seeing a decline and the market is moving in the right direction.
New OKX Ventures Report Shows a Relatively Stable Crypto Market in February 2023
By providing details of the in chain Using metrics showing stability, OKX Ventures highlighted that the overall direction of Ethereum (ETH) was good in the meantime. In addition to this, the platform mentioned that fundraising efforts also increased greatly in the previous month compared to January.
According to OKX Ventures, cumulative adjusted on-chain volume had fallen as much as 0.7% to $164 billion. Also, the main cryptographic token Bitcoin witnessed a drop of up to -4.3%. However, the state of Ethereal was considerably positive and had experienced a rally of almost +4.2%.
Fundraising deals also grew in February, report says
While the respective statistics are released, OKX Companies He referred to The Block. He added that the previous month he had seen several fundraising deals in the crypto industry. According to the platform, the cumulative number of agreements of this type reached 143. The respective figure shows an increase of approximately 33.64% when it comes to a comparison between the contracts that occurred in February and January. The platform cited Coincarp for this data.
OKX Ventures also touched on crypto mining. In this regard, he pointed out that relatively more income was generated by mining companies in February, with growth of 4.3%. Total mining revenues reached $627.1 million. Other than that, it has seen a 2.9% increase in revenue from Ether participants to reach $104.8 million.
