OKX Ventures, the investment arm of the prominent crypto exchange OKX, has recently published a summary covering the crypto market performance in the last month. The investment institution expressed that the crypto scenario in February 2023 was comparatively stable. It signifies that the former devastation in the industry is now witnessing a decline and the market is moving in the right direction.
New Report from OKX Ventures Shows Relatively Stable Crypto Market in February 2023
While providing details of the on-chain metrics displaying the stability, OKX Ventures brought to the front that the overall orientation of Ethereum (ETH) was good in the meantime. In addition to this, the platform mentioned that fundraising endeavours have also increased to a great extent in the previous month as compared to January.
As per OKX Ventures, the cumulative adjusted on-chain volume had gone through a dip of up to 0.7% to reach the spot of $164 billion. Moreover, the primary crypto token Bitcoin witnessed a fall of up to -4.3%. Nonetheless, the status of Ethereum was considerably positive and it had seen an upsurge of nearly +4.2%.
Fundraising Deals also Grew in February, Says the Report
While disclosing the respective statistics, OKX Ventures referred to The Block. It added that the previous month had seen several fundraising contracts in the crypto industry. According to the platform, the cumulative number of such deals was up to 143. The respective figure shows an elevation of approximately 33.64% when it comes to a comparison between the contracts that occurred in February and January. The platform cited Coincarp for this data.
OKX Ventures also touched on crypto mining. In this respect, it pointed out that relatively more revenue was generated by miners in February, with a 4.3% growth. The total mining revenue reached $627.1 million. Apart from that, a 2.9% increase with seen in Ether staker revenue to reach $104.8 million.