The market capitalization of cryptocurrencies reached $850 billion

19 December 2022

The cryptocurrency market is finally regaining previously lost ground. The market capitalization is growing, reaching 850 billion dollars. Although this does not level the losses of the crypto market since the beginning of 2022, the steady growth gives hope for further improvement. Neither the collapse of the FTX exchange, which went bankrupt in early November (presumably due to management errors) nor the efforts of the heads of European Union countries to tighten regulations and supervision of cryptocurrency movements inhibit growth.

Individual currencies are growing by 5-10%; for example, Ethereum shows a steady growth of more than 7%. And Fantom, traded under the FTM token, gains 30% immediately. The reason for this is that the currency issuer receives a steady profit over the course of 30 years. Dogecoin is not far behind: the currency rose by 26.8% because investors expect the new owner of Twitter, the famous entrepreneur Elon Musk, to integrate cryptocurrencies into the social network. Finally, ApeCoin is growing by about 16% as the community of its holders has launched its platform for selling and buying NFT.

Despite the fall of many cryptocurrencies in the market, the overall indicator is growing daily. In the crypto market, volatility is inevitable, but investors inspire confidence in their cryptocurrency assets.