It is evident that when a year begins, all expectations rise to extreme positivity, considering that the year ended if we focus on the digital finance sector was not so favorable.

So far this month of January 5, the digital currencies positioned in the ranking of the most advantageous in the crypto active market increased their value by more than 100%, some reaching more than 200%, not bad for a start to the year where the downtrend is expected to culminate.

The crypto asset market gives cryptocurrency investors who have invested in this crypto at a taste of what could be generated in 2023, even with the uncertainty of whether this trend will continue.

It is not at all incredible to expect that the bearish phase could be coming to an end, but it all depends on external factors. For example, despite the crypto market being decentralized, in 2022, it was highly violated by the economic and financial measures of the country’s power as a solution to their internal crises.

Several cryptocurrencies have increased in value without diminishing the importance of Bitcoin, which, being the leader of the digital financial market, fights hard to keep the market afloat.

What is the price increase for?
It is essential to consider a global analysis of the situation involving the increase in the price of digital currencies, which react to the news that emerges in the environment rather than the actions that occur in it.

A possible decrease in the pressure of increasing inflation, as well as the measures by the Fed in favor of lower rates than those implemented during 2022 and a set of technical news, have given Bitcoin and the ranking of Bitcoin a breather.

At the beginning of the year, Bitcoin recovered after having touched almost USD 16,000, taking investors to the point of collapse, even considering the position of many analysts where they thought the cryptocurrency market would disappear.

By January 20, Bitcoin reached an increase in its price that almost touched 38%, reaching more than $22,000, which undoubtedly gives a certain air of tranquility to the participants of the crypto active market.

After the loss of confidence generated by many users and investors with the fall of the world’s most consolidated crypto-asset exchange platform, FTX, the market suffered a credibility fracture, not directly in digital assets but in Exchanges. And that is where the rise of Bitcoin becomes difficult.

Five cryptocurrencies that are on the rise

When a price increase is generated in the cryptocurrency market, movements may be evidenced in all the projects, although some in a more significant proportion than others; such is the case of what has happened so far this month concerning digital currencies.

Until now, the one that has registered the highest price increase is APT, the digital currency created by a group of former workers of the Meta social network, whose primary focus is smart contracts, in addition to positioning itself at the Solana level and the main competition is Ethereum.

The price increase of this digital currency reached more than 280% of its closing price of almost 3.5 dollars to more than 13.2 dollars in just 20 days, where considering the market capitalization, it went from 400 million to more than 1,980 million dollars.

In second place is Solana registering a price increase of more than 140%, accumulating a final price of 25 dollars after reaching its historical minimum for two years in December 2022.

In third place is MANA, the cryptocurrency of the Decentraland video game, acquiring a price that exceeds 141% of its initial value on January 1, 2023, followed by LDO, with an increase of more than 125%.

In fifth place is the digital asset, SAND from Sandbox, representing the virtual worlds of the metaverse and competing with MANA.

The cryptocurrency market has been in constant fluctuation since the beginning of 2023; possibly, it is a slightly bullish phase of market consolidation to catch our breath after the million-dollar losses generated in the sector in 2022.

The recovery of the crypto-asset market exceeds one trillion dollars, a value that for April 2022 vanished, continuing a relevant decrease in what it was this last year.

Any comment?

This site uses Akismet to reduce spam. Learn how your comment data is processed.