In an indication of the altering market sentiments, the Nasdaq Crypto Index (NCI) booked month-to-month returns of 37.2% in January — the third-highest month-to-month return since NCI’s inception in Could 2020.
The crypto market has been shrugging off the bearish sentiment over the previous month, because the Bitcoin Concern and Greed Index moved from worry to greed after 10 months.
The worth of Bitcoin (BTC) noticed its finest month since October 2021 because it elevated 39.4% final month — the most important cryptocurrency noticed its finest January since 2013.
NCI, which was developed by Nasdaq in partnership with Hashdex, features a various basket of digital belongings that present an business benchmark past the value of simply BTC. As of June 2022, the basket contained BTC, Ethereum (ETH), Litecoin (LTC), Polkadot (DOT), Bitcoin Money (BCH), Uniswap (UNI), amongst others.
Samir Kerbage, chief know-how and product officer at Hashdex instructed CryptoSlate:
“While the current macro environment will continue to present challenges for crypto and other risk assets, the strong performance of the NCI is a clear sign investors continue to see the long-term value in the most disruptive and mature crypto assets.”
