REUTERS/David 'Dee' Delgado/ Acquire Licensing RightsOct 3 (Reuters) - The global cryptocurrency market remains badly scarred following the tumultuous collapse of crypto exchange FTX and other big players last year, with crypto prices, volumes and venture capital investment well below their 2021 peaks.
BITCOIN BLUESBitcoin, by far the biggest cryptocurrency and the chief barometer for crypto market sentiment, has bounced back about 37% since Nov. 1.
Reuters Image Acquire Licensing RightsCRUMBLING MARKET CAPAfter peaking at $3 trillion in November 2021, the value of the overall crypto market plummeted through 2022, hitting a two-year low of $796 billion as FTX imploded.
Yet the relative calm in crypto markets is not necessarily a good thing, said some market participants, noting that many investors are attracted to crypto precisely because of its volatility, which offers opportunities to make quick profits.
Reuters GraphicsVC CRYPTO BETS TUMBLEVenture capital (VC) investments flooded into crypto during its boom year of 2021, and even through 2022.
Persons:
Damian Williams, Samuel Bankman, David, Dee, Delgado, Sam Bankman, FTX, cryptocurrencies, Bitcoin, bitcoin, Ben Laidler, Usman Ahmad, Anders Kvamme Jensen, Robert Le, CCData, Noelle Acheson, Hannah Lang, Elizabeth Howcroft, Tom Wilson, Michelle Price, Andrea Ricci
Organizations:
REUTERS, Capital, Silvergate Bank, BlackRock, Reuters, Zodia, Chartered, Reuters Graphics, U.S, Venture, Thomson
Locations:
New York City, U.S, New York, Singapore, London, Washington