{"id":86278,"date":"2023-11-19T05:32:25","date_gmt":"2023-11-19T10:32:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-market-shows-signs-of-recovery-with-surging-crypto-prices-nft-sales\/"},"modified":"2023-11-19T05:32:26","modified_gmt":"2023-11-19T10:32:26","slug":"crypto-market-shows-signs-of-recovery-with-surging-crypto-prices-nft-sales","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=86278","title":{"rendered":"Crypto Market Shows Signs of Recovery with Surging Crypto Prices, NFT Sales"},"content":{"rendered":"<div>\n<figure id=\"attachment_132674\" aria-describedby=\"caption-attachment-132674\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-132674\" class=\"wp-caption-text\">Source: Adobe \/ Luisa<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The crypto market is displaying promising signs of recovery following an extended bear market with surging crypto prices and NFT sales.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market cap, have experienced significant price surges, each gaining 30% and 28%, respectively, over the past 30 days.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Likewise, the total crypto market capitalization has risen by approximately 31% to reach $1.41 trillion during the same period.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">NFT Market Sees a Resurgence<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">The NFT space, which also experienced a decline after its previous hype cycle in 2021 and 2022, has witnessed a resurgence.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to\u00a0<\/span><span data-preserver-spaces=\"true\">CryptoSlam data<\/span><span data-preserver-spaces=\"true\">, total NFT sales have increased by 64% in the past month.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Ethereum, Bitcoin, and Solana emerged as the top three blockchains in terms of NFT sales volume, with all three experiencing sales growth during this timeframe (44%, 1,222%, and 56% respectively).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Furthermore, the crypto venture capital landscape is regaining momentum after six consecutive quarters of declining investments in Web3 companies.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This bullish trend is emerging despite the lingering market downturn that has dampened consumer, founder, and investor enthusiasm in the crypto industry.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In another bullish movement, digital asset investment products saw inflows of $293 million last week, bringing this seven-week run of inflows past the $1 billion mark and leaving year-to-date inflows at $1.14 billion.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This makes 2023 the third-highest yearly inflows on record.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">ETF Optimism Further Drives Market Sentiment<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">The optimism around the launch of a spot Bitcoin ETF has further benefited the recent rally in crypto markets, which saw the flagship cryptocurrency reach as high as $38,000.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Analysts at financial services firm\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Cantor Fitzgerald<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0believe the long-awaited spot\u00a0<\/span><span data-preserver-spaces=\"true\">BTC ETF is inching closer to reality<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The company, known for its prime brokerage and investment banking services, has grown confident in the approval of applications from asset managers seeking to launch a spot ETF for Bitcoin.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The SEC has been hesitant to approve a spot bitcoin ETF due to concerns about potential manipulation on offshore spot platforms.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, Cantor Fitzgerald believes that the market surveillance procedures proposed by new applicants could address these worries and sway the SEC towards approval.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As\u00a0<\/span><span data-preserver-spaces=\"true\">reported<\/span><span data-preserver-spaces=\"true\">, Ripple CEO\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Brad Garlinghouse<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0believes there will be a flood of new capital pouring into crypto if a spot BTC ETF is approved.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAn ETF getting approved could create a lot of capital flowing into the market,\u201d he said in a recent interview with CNBC.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the crypto veteran also mentioned that it is hard to balance these positive developments against other macro factors, namely wars in the Middle East and Europe.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cI go back to kinda first principles around big picture,\u201d Garlinghouse added, noting that the crypto industry needs regulatory clarity and \u201clots of\u201d utility to thrive.<\/span><\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/crypto-market-shows-signs-of-recovery-with-surging-crypto-prices-nft-sales.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe \/ Luisa The crypto market is displaying promising signs of recovery following an extended bear market with surging crypto prices and NFT sales. Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market cap, have experienced significant price surges, each gaining 30% and 28%, respectively, over the past 30 days.\u00a0 Likewise, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":86279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-86278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Market Shows Signs of Recovery with Surging Crypto Prices, NFT Sales | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Adobe \/ Luisa The crypto market is displaying promising signs of recovery following an extended bear market with surging crypto prices and 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