The digital currency industry lost almost $100 billion of its total market capitalization in mid-March. Some crypto companies were reportedly heavily exposed to some high-profile US banks. collapse.
However, the market started to show bullish signs in just a few days, according to data provided by CoinMarketCap (CMC). Consequently, the total crypto market capitalization surpassed the $1.2 trillion mark for the first time in 10 months, last seen in June 2022.
According to CMC data, the crypto market capitalization plummeted to $780 billion in November last year. Bahamas-based cryptocurrency exchange FTX crashed, sparking a market-wide FUD among investors.
With the recent bull run, most of the major digital currencies, bitcoin (BTC), ethereum (ETH) and bnbto name a few, have risen from the ashes.
For example, ETH reached a key milestone when the market reached an uptrend. He topped the $1900 mark for the first time in eight months while still awaiting his long-awaited Shanghai Update, aka the Shapella Update.
Cardano (ADA), on the other hand, took advantage of its latest integrations to start a bull run. ADA is trading near the $0.40 mark when Paima Studios paved the way for the blockchain to get into the decentralized gaming universe.
