Nasdaq Crypto Index rose 37.2% in January – amid bullish market sentiment
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 February 2021.
The crypto market has been shrugging off the bearish sentiment over the previous month, because the Bitcoin Concern and Greed Index moved from concern 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 numerous basket of digital belongings that present an business 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 informed CryptoSlate:
“Whereas the present macro surroundings will proceed to current challenges for crypto and different threat belongings, the robust efficiency of the NCI is a transparent signal buyers proceed to see the long-term worth in essentially the most disruptive and mature crypto belongings.”
