The digital currency industry lost almost $100 billion from its total market capitalization in mid-March. Reportedly, some crypto firms were highly exposed to some high-profile US banks collapse.
However, the market started to show bullish signs in just a few days, according to data provided by CoinMarketCap (CMC). Consequently, the total crypto market cap surpassed the $1.2 trillion mark for the first time in 10 months — last witnessed in June 2022.
Global crypto market cap – April 5 | Source: CoinMarketCap
According to CMC data, the crypto market capitalization plunged to as low as $780 billion in November last year. The Bahamas-based cryptocurrency exchange, FTX, collapsed, causing a market-wide FUD among investors.
