Hey friend, Happy Eid Mubarak!
Despite all the negative news about a regulatory crackdown, banking collapse, and persistent inflation, Bitcoin, Ether, and other big-name tokens have actually skyrocketed since the beginning of this year!
In fact, Bitcoin, which is the largest cryptocurrency by market capitalization, has gone up 72% and recently crossed the $30,000 threshold (although it has dipped a bit since then due to inflation and rising interest rates). And Ether, the second largest, has gone up 62% and surpassed $2,000 after a successful upgrade to its blockchain.
Overall, the total market cap for all cryptocurrencies has gone up to about $1.2 trillion, which is an impressive 50% increase since the start of the year according to CoinMarketCap.
Of course, these recent prices are still not quite as high as they were in 2021 when the total crypto market cap almost reached $3 trillion. However, the price rally has some people wondering if we're finally seeing the start of Crypto Spring. Pretty exciting, right?
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