Major Cryptocurrenices Seem to be Reviving – A good Sign for Crypto Investors

Cryptocurrencies, including Bitcoin (BTC) have witnessed a shocking downfall in the last couple of years. However, now it seems like the crypto industry is slowly reviving. It is evident from Bitcoin’s recent performance, as it has been able to post a massive 140 percent recovery since January 2023. The value of Bitcoin managed to reach US$ 40,851, crossing the 40k mark after April 2022, just before it crashed.

Furthermore, the recovery shows a 15% increase since last month, with the coin’s price growing threefold since the same time last year. The rising price reflects the market’s sustained enthusiasm for developments over the Bitcoin spot exchange-traded fund (ETF) in the US.

It is pertinent to mention here that Bitcoin wasn’t the only cryptocurrency that rose over the weekend. Another popular coin, Ethereum, also rose to $2200 for the first time since May 2022. Both coins only rose by about 3 percent in the last 24 hours, but they’ve been rising consistently.

On the other hand, famous NFT projects have attained a lot of value in the past 24 hours, with the lowest listed asset in projects like Pudgy Penguins, DeGods, and Azuki registering double-digit percentage rises since Saturday night (Pakistan Time), according to a related source.

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