The cryptocurrency market attained $36.6 trillion in trading volume in the year of 2023. The overall cryptocurrency market cap doubled (to $1.6 trillion) that year.
Bitcoin grew by 155.2% in 2023, and Ethereum grew by 90.5%. Solana grew by a staggering 917.3%, according to CoinGecko’s annual industry report. NFT trading volume for 2023 ($11.8 billion) was only 44% of 2022’s.
Anticipation of the SEC’s approval of Bitcoin ETFs likely contributed to that growth. The ETF’s have now been approved with little impact on the price of Bitcoin (so far). 2023’s growth is promising considering the FTX collapse that shook the market in 2022.
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