The popularity of cryptocurrencies continues to grow, reflecting their potential to transform the traditional financial system. Recent research by Lattice Fund indicates that 80% of crypto startups that commenced in early 2022 are still operational.
Lattice Fund Research
According to Lattice Fund's research report, about 80% of crypto startups that raised funds in early 2022 are still operational, serving users in different regions. An analyst from Lattice Fund stated, “In 2022, over 1200 crypto companies raised $5B+ in seed and pre-seed funding. Looking back at this cohort, 72% of companies have launched on mainnet or an equivalent, up from 66% last year. Meanwhile, 18% of projects have either failed to ship or have already shut down.”
Other Crypto Market News
The ongoing conflict between Iran and Israel has affected the crypto market, as the market capitalization fell roughly 4%, reaching 2.17 trillion as of writing. Earlier, leading media agencies reported that Iran fired over 190 missiles towards Israel. At the time of writing, Bitcoin was trading at $61,708 with an intraday decline of 3.56%; simultaneously, sudden selling pressure was noted as its trading volume grew more than 48%, reaching $50,345,575,257. Consequently, Bitcoin's market capitalization saw a slight decline of 3.58%, reaching $1,219,230,497,311. The fear and greed index was 38, denoting fear sentiment throughout the market.
Crypto Market Price Updates
In the past 24 hours, most leading cryptocurrencies have fallen below their 20, 50, 100, and 200-day EMAs; the increased volatility and decline have been fueled by growing tension between Israel and Iran. For the past few days, Ethereum has been trading in the range between $2500 and $2600, but in the past 24 hours, its trading price reached $2,480, losing 6.28%. Despite the ongoing volatility, the FTT token continued to grow, adding 20.06%, reaching $2.29 over the past seven days; its trading price rose roughly 65%. Arweave (AR) topped the intraday loser list, losing 14.27%, reaching $19.91, followed by Starknet (STRK) trading at $0.3989, losing 13%.
Despite current challenges and market fluctuations, the cryptocurrency market shows considerable resilience. Global events and internal dynamics of crypto projects continue to impact both short-term and long-term industry prospects.