Since its peak at the beginning of this year, the total market capitalization invested in digital assets fell at around 50% by the end of the first quarter, which is called by some as the crypto winter. This negative trend reversed the last week, as it seems until this time.
Last week saw some intriguing developments in the market. While two Wall Street legends disclosed their move into the digital assets market, a fintech company in Indonesia released a report which stated that Bitcoin is “generally permissible” under Sharia law. So far the reaction in the market seems positive, but will this continue?
Number of Digital Assets vs. Market Cap
Source: MVIS Research, CryptoCompare. Data as of April 15, 2018
About the Author:
Emre Camlilar oversees product management for MVIS indices globally. He is an index expert with 5 years of experience in index development, management and maintenance. As product manager with extensive index expertise, Emre offers deep knowledge of MVIS products, operations and new index construction and administration. He holds an M.Sc. in Economics from the University of Freiburg, Germany.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.