The crypto market is gradually recovering from the November crash. While December was not what many anticipated. Most cryptocurrencies failed to record any notable increases. This is as a result of the low trading volume at the time.
January offered new prospects as we noticed a change in the previous sentiment. The sector started a little docile but picked up pace as it progressed. Major cryptocurrencies like Bitcoin and Ethereum led the charge as they returned to levels they haven’t since the eleventh month of 2022.
This reflected on the global cryptocurrency market cap as we noticed changes in value. It opened the month at $800 billion and dipped a little below this price. However, it peaked at $1.08 trillion and is currently worth $1.05 trillion.
This indicates that the sector under consideration gained more than 24% in the last thirty days. Some assets also recorded massive changes in price. The image below shows how these cryptocurrencies performed.
The image above shows altcoins and how much they gained in the past thirty days. APT is one of the top gainers with almost 400%. In one of it massive rallies, it started the intraday session at $12 but after failing to achieve $19, it rose to a high of $18.9. It closed with gains of more than 40%.
DYDX is also one of the top gainers as it is up by more than 170%. While these performances are thrilling, let’s see how some cryptos in the top 10 performed.
Bitcoin had one of its best performances over the last thirty days. Although it started slow, it picked up the pace and flipped resistance after resistance. The first mark that sparked a lot of reaction was $18k. It fell during the second week as BTC continued to gain momentum.
The next was $20k and it flipped on January 14. It is safe to conclude that most of the surges happened over the weekends. Traders were thrilled when the $22k resistance broke a few days later. This was the first time since September the apex is attained this mark.
On the monthly scale, BTC had one of its best performances. It opened the month at $16,530 and dipped lower. It rose to a high of $23,954 and is currently worth $22,929. This is an indication that the largest cryptocurrency gained almost 40%.
Ethereum was also on a rampage; crushing resistance after resistance. This led many to think back to recent predictions of the altcoin flipping bitcoin. Nonetheless, it had its moments.
It opened the month at $1,195 and was off to a slow start. After several small candles, it broke out. During this period of low price change, ETH gradually flipped $1,300 and attempted $1,400.
January 14 was one of the main highlights when the largest altcoin flipped $1,500. It opened the day at $1,450 and attempted the $1,600 but faced intense rejection at $1,591. Nonetheless, it ended the session with gains of almost 7%. Currently worth $1,576, ETH may end the month with a positive change of more than 30%.
Binance coin was mostly bullish over the last thirty days. Although it moved slowly at first, it quickly gathered up speed and overturned several barriers. $280 was the first resistance to flip. The second week of January presented more in terms of volatility as BNB went on five consecutive green days.
The next price mark the asset flipped was $300 on January 14. It is safe to say that the majority of the surges occurred on weekends. When the $320 resistance collapsed a few days later, traders were ecstatic. The altcoin reached this milestone for the first time since September.
Binance coin achieved one of its greatest performances on a monthly basis. It dropped from its opening price of $246 for the month. It attained a high of $323 and is now worth $311; signifying an almost 30% change in price.
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