2022 was an extremely bad year for the crypto market, but the first month of 2023 turned out very differently. January 2023 was not only the best January ever, it was also the best month since October 2021 for prices. The total market capitalization of crypto rose about 26% in the last 31 days from $800 billion to $1.008 trillion. Which cryptocurrencies performed the best last month? We list them for you.
Bitcoin up 39% in January 2023
Bitcoin (BTC) touched nearly $24,000 this week, but has since fallen back below $23,000. However, on January 1, the BTC price was only just above $16,000, which means that the price has risen by no less than 39% in January.
January has been the best monthly returns for #Bitcoin since the October 2021 ATH.
43.2% at the top of the range, and 37.7% right now.
Not half bad for an asset that was supposed to be dead ☠️https://t.co/b5OMSn3JE4 pic.twitter.com/GRzBpfFSOZ
— _Checkɱate 🔑⚡🌋☢️🛢️ (@_Checkmatey_) January 31, 2023
Ethereum is up 32% in January
Ethereum (ETH) underperformed Bitcoin last month, which is exceptional. There is speculation the upcoming ‘Shanghai’ update, which will allow withdrawals, will make investors wary. Nevertheless, the ether price recently rose 32% from below $1,200 to $1,580.
Is anyone else as surprised by this chart as I am?
Thank you @hildobby_ for this @DuneAnalytics query pic.twitter.com/jAc1RLHQpO
— Max Sherwood (@WholegrainMax) January 30, 2023
Cardano strongest climber crypto top 10
In the top 10, ripple (XRP) suffered the most last month. Still, XRP was able to rise nearly 18% from USD 0.338 to USD 0.395. Binance coin (BNB) already rose 27% in January from $244 to $310. Dogecoin (DOGE) is rising to $0.092 today, up 32% from $0.069 early this month.
Polygon (MATIC) grew a whopping 43% in January, from $0.75 to $1.09. Cardano (ADA) is the strongest riser from the top 10 in January 2023. The ADA price is currently around $0.37 and was still below $0.25 at the beginning of this month, an increase of more than 52%
*1,000,000 to 100,000,000
wen edit button? 😅
— Ali (@ali_charts) January 30, 2023
Solana is up 140% in January
Still, just outside the top 10, we have another harder climber: solana (SOL). The market feared a month ago that it might be over for this crypto when the price dropped below $10. However, SOL is now at $24, an increase of no less than 140%
Fact: The price of $SOL has increased by over 150% since the beginning of 2023.
It seems that the opportunity to see SOL below $10 may no longer be available.@solana #Solana pic.twitter.com/2aemMv7d9e
— Solana Daily (@solana_daily) January 30, 2023
Aptos takes 375%, hardest climber crypto top 100
We have even more hard risers in the top 100 and this was the absolute top: Fantom (FTM) is also up 140%. Frax share (FXS) even increased by 145%. Decentraland (MANA) is already 148% in the plus.
Threshold is currently rising sharply and will already reach 220% in January. Gala (GALA) is just above that at 221%, but aptos (APT) was January’s big winner in the top 100. The APT price has been falling since its peak of $19.9, but stands with a price of $16 .5 still 375% up on 1 January.
Aptos’ $APT token hit all-time highs above $19.
In our latest Data Debrief, the research team explores APT’s order book structure on Binance and Coinbase to better understand the rally.
Full analysis 👇https://t.co/b6DjhJtW1A
— Kaiko (@KaikoData) January 30, 2023
Everscale is up nearly 600% in January
Finally, we take a quick look outside the top 100. That’s where we find everscale (EVER). EVER is up more than 80% today to $0.177. Everscale is up about 590% in January 2023.
EVER tops @CoinMarketCap gainers list 📈
This year has started off with a strong surge in the crypto market, and we’re proud to say that Everscale has been in the driving seat in this rally 🚀 pic.twitter.com/oPxIpQYWmN
— Everscale (@Everscale_net) January 30, 2023
However, keep in mind that things can get very exciting this week in the financial markets. We have a large series of macroeconomic events that can have a major impact on the direction of prices.
We’ll see rate decision announcements from the US Fed, BOE and ECB all this week! pic.twitter.com/LsAN5Km76M
— Rahul (@rhemrajani9) January 31, 2023
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