The crypto market is quite silent at the time of writing. Over the last 24 hours, it moved by barely 2% with the sector losing this value. Nonetheless, a reflection on how it performed over the last 364 days revealed that it is recovering from the previous bearish dominance.
It started 2023 at $798 billion. A look at the chart indicates that this was also the lowest valuation for the sector under consideration. It experienced significant increases after it kicked off the year. As a result, it attained several valuations but peaked at $1.68 trillion a few days ago. This means that the crypto market gained 106% this year.
This is in sharp contrast to what took place during the previous year. The industry lost a lot of its value at the time. This further conviction in a massive price rally in 2024. When will it start and what assets will be affected? While pondering this, let’s look at some of the largest movers in the past 12 months.
Solana Gains Almost 1000%
The previous year was one of the toughest for the entire crypto market as it grappled with a massive decline in value. One of the worst-hit assets at the time was Solana. As a result, it lost more than 94% of its worth at the time.
2023 offered more in terms of price increases. It started trading at $9 but experienced massive price increases. As a result, it attempted to reclaim all of its lost levels but faced strong rejections at $125 (the high). Currently exchanging $104, the asset has gained more than 950% since the session started.
This suggests that it had a lot of bullish moments. Using the weekly chart, these moments become very clear. The altcoin had one of its positive moves during the previous intraweek session. It opened trading at $70. Following a small decline to $67, it recovered and continued its uptrend. As it progressed, it broke through $100 for the first time in months. The surge continues as it attempted $120 but halted at $120. In the end, it closed with gains of almost 60%.
On the other hand, one of the biggest single-week decline happened in June. The altcoin kicked off a little strong as it edged towards $23 following an open at $21. However, it experienced corrections and broke the $20 support. The downtrend continued as it found support at $13. Afterward, it rebounded and closed at $15 which indicates a more than 28% loss.
Helium Trippled in Value
Like most assets in the crypto market, 2022 was not one of the best years for HNT. It lost more than 95% of its value at the time. The current year shows that it is recovering from the bearish actions it had.
It opened 2023 at $1.56 but experienced massive increases in buying as the period progressed. As a result, prices also had a corresponding effect. It broke through several resistances and was heading for $10 but faced major rejections at $9.56. Due to this, it’s currently trading at $6.96 which means it is up by more than 340%. Nonetheless, it tested the $1 support but failed to break as it rebounded at $1.12.
With two failed attempts at $10, the altcoin may continue to test it in the coming days.
