Is Cryptocurrency Market Heading Towards Another Crypto Summer?

Despite numerous unfortunate events shaking the crypto market in 2022, participants appear to have escaped the recurring fears of capitulation. While the first half of the new year offered some respite, there are still signs that the crypto winter hasn’t fully subsided. Is Crypto Summer on the Horizon? According to IntoTheBlock, the DeFi and NFT industries are wrestling with lower user engagement and a decline in trading activities. Historically, this could be an indication that a crypto summer might not be in the cards for this cycle. To put it simply, a crypto summer describes a bull phase in the cryptocurrency market, which could also bring increased adoption, a surge in altcoin prices, and a decrease in Bitcoin‘s (BTC) dominance. Bitcoin dominance refers to the ratio of the leading coin’s market value to the overall crypto market capitalization. At press time, CoinMarketCap reported that dominance had risen to 48.11%, with […] The post Is Cryptocurrency Market Heading Towards Another Crypto Summer? appeared first on COINTURK NEWS.