The global cryptocurrency market cap surged to $2.12 trillion, a 151% increase from 2022.
The introduction of spot ETFs in the U.S. has boosted institutional adoption of digital assets.
MicroStrategy shares rose by 325% in the past year, highlighting its growth in the blockchain space.
The cryptocurrency market has recovered significantly since the FTX exchange collapse in 2022. A recent report by Canaccord revealed the crypto industry has grown over the past year, driven by increased global adoption of digital assets.
On November 11, 2022, FTX filed for bankruptcy Chapter 11 following a report revealing fraudulent balance sheet computations. Afterward, the exchange experienced massive asset liquidation, ushering in the crypto winter and the worst bear market in history.
Market commentators led by Joseph Vafi explained that the crypto industry has progressed from a post-FTX consolidation and recovery phase over the past year. They added that the current phase centers on growth, expanding business models, and total addressable markets (TAM).Â
âWith digital assets hovering near all-time highs, some incremental logjam beak on the regulatory front, good bâŠ
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