Nasdaq Crypto Index rose 37.2% in January – amid bullish market sentiment

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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 value of Bitcoin (BTC) noticed its greatest month since October 2021 because it elevated 39.4% final month — the most important cryptocurrency noticed its greatest January since 2013.

NCI, which was developed by Nasdaq in partnership with Hashdex, features a numerous basket of digital property that present an trade benchmark past the worth 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 expertise and product officer at Hashdex advised CryptoSlate:

“Whereas the present macro atmosphere will proceed to current challenges for crypto and different threat property, the sturdy efficiency of the NCI is a transparent signal buyers proceed to see the long-term worth in probably the most disruptive and mature crypto property.”

Supply: CryptoSale

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