CoinGecko’s Crypto Industry Report 2024 Q1 shows 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 68.8% to reach 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 more than $55.1 billion in assets under management (AUM) as of April 2, 2024.
Ethereum (ETH) also saw positive growth, with the total number of repurposed ETH on the EigenLayer platform increasing by 36% to 4.3 million. Furthermore, Solana memecoins experienced a sharp increase in market capitalization, which grew by $8.32 billion in the first quarter.
The NFT market remained active, with NFT trading volume across the ten largest 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 the first quarter, the highest since Q4 2021. However, Ethereum’s share of trading volume on decentralized exchanges (DEX) fell below 40%, indicating to the increased attention paid to other blockchain networks.
The report provides comprehensive insights into these developments, with 50 slides of analysis and data. It provides valuable information for investors, traders and industry enthusiasts who want to understand the current state of the crypto market.
CoinGecko’s Crypto Industry Report 2024 Q1 showcases the continued growth and innovation within the cryptocurrency industry. As the market expands and evolves, it is crucial to stay abreast of the latest trends and developments in order to make informed decisions.
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