CoinGecko: 2024 Q1 Strong Crypto Industry Growth Propels Market Cap to $2.9 Trillion
The 2024 Q1 Crypto Industry Report by CoinGecko showcases the continued growth and development of the cryptocurrency market. The report highlights key statistics and trends observed during the first quarter of 2024.
Bitcoin (BTC) emerged as a top performer, growing by 68.8% and reaching an all-time high of $73,098. This growth was attributed to the approval of US spot Bitcoin ETFs in early January. The report also indicates that Bitcoin ETFs held over $55.1 billion in assets under management (AUM) by April 2, 2024.
Ethereum (ETH) also witnessed positive growth, with the total number of restaked ETH on the EigenLayer platform increasing by 36% to 4.3 million. Additionally, Solana memecoins experienced a surge in market cap, growing by $8.32 billion in Q1.
The NFT market remained active, with NFT trading volume across the top 10 marketplaces reaching $4.7 billion. Magic Eden emerged as the leading marketplace in terms of market share.
Spot trading volume on centralized exchanges (CEX) reached $4.29 trillion in Q1, the highest since Q4 2021. However, Ethereum's share of decentralized exchanges (DEX) trading volume fell below 40%, indicating the increased attention given to other blockchain networks.
The report provides comprehensive insights into these developments, featuring 50 slides of analysis and data. It offers valuable information for investors, traders, and industry enthusiasts seeking to understand the current state of the crypto market.
CoinGecko's 2024 Q1 Crypto Industry Report demonstrates the continued growth and innovation within the cryptocurrency industry. As the market expands and evolves, it is crucial to stay informed about the latest trends and developments to make informed decisions.
Image source: Shutterstock
Tags
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bored Ape NFT Creator Yuga Labs Joins Adidas To Add Dignity To Its Dookey Dash Game
Bitcoin spot ETF options could potentially impact demand for the underlying asset, analysts say
Analysts say the SEC’s approval of options for the spot bitcoin ETF marks a significant shift in how institutional investors may engage with bitcoin, with potential implications for demand for the underlying asset.The U.S. Securities and Exchange Commission approved BlackRock’s proposal to list and trade options for its spot bitcoin ETF last Friday.
Matrixport, Knowing the Fall in Bitcoin Before, Shared Its Market Predictions for the End of the Year! Here Are the Details
Matrixport stated in its report that Bitcoin (BTC) is likely to recover by the end of the year.
Trending news
MoreCrypto prices
More
