The Crypto Market Cap went from 829B to 1.2T in Q1 2023, increasing by 48.9%

Crypto has seen hell of a year this year. We have of course had some headwinds and tailwinds, with some bank collapses and inflation pushing up cryptos price while the recession, job losses and a still ongoing war likely dragging it down. And at this point, at least short term, whether interest rates rise or fall seems to be positive for markets.

Regardless, the market cap of crypto has exploded in Q1 2023, going from around 800B to 1.2 Trilion in those three months. This represents an increase of 48.9% or 400 Billion.

​

https://preview.redd.it/sgsy3kn7jmua1.png?1431&format=png&auto=webp&s=e2257fd9f6314e7e711a3b32d54c9d2dd192f9b5

As expected from such data, crypto spot volume also increase by 18.4% for the quarter. Much of the gains were of course lead by Bitcoin which posted a gain of 72.4% for the quarter. And now ETH seems to be having a great second quarter that has also had a decently positive effect market-wide. All in all, a good start to the year.