Bitcoin and DeFi protocols have surged in market capitalization in the first quarter of 2023, according to the first quarterly Crypto Industry Report by CoinGecko. BTC emerged as the best-performing asset of Q1, with gains of 72.4%, outperforming the NASDAQ index and gold. DeFi rose by $29.6 billion in value, with liquid staking governance tokens seeing a 210% increase in market cap since the start of the year. The top 15 stablecoins saw their market cap drop by $6.2 billion, with Tether strengthening its position as the largest stablecoin by market cap. NFT trading volume has surged by 68% from Q4 2022 to $4.5 billion.
(By GARETH JENKINSON)
All Comments