CoinGecko: Strong cryptocurrency industry growth in Q1 2024, reaching market capitalization of $2.9 trillion

CoinGecko’s Cryptocurrency Industry Report for Q1 2024 shows the continued growth and development of the cryptocurrency market. This report highlights key statistics and trends observed in the first quarter of 2024.

Bitcoin (BTC) was the top performer, growing 68.8% to an all-time high of $73,098. This growth can be attributed to the approval of a U.S. spot Bitcoin ETF in early January. The report also indicates that Bitcoin ETFs will have over $55.1 billion in assets under management (AUM) as of April 2, 2024.

Ethereum (ETH) also saw positive growth, with the total number of ETH re-staked on the EigenLayer platform increasing by 36% to 4.3 million. Additionally, Solana Memecoin’s market capitalization surged, growing by $8.32 billion in the first quarter.

The NFT market remains active, with NFT volume across the top 10 marketplaces reaching $4.7 billion. Magic Eden has emerged as the market leader in terms of market share.

Centralized Exchange (CEX) spot trading volume reached $4.29 trillion in the first quarter, the highest since the fourth quarter of 2021. However, Ethereum’s share of decentralized exchange (DEX) trading volume fell below 40%, increasing interest in other blockchain networks.

This report provides comprehensive insights into these developments, including 50 analysis slides and data. It provides valuable information to investors, traders, and industry enthusiasts who want to understand the current state of the cryptocurrency market.

CoinGecko’s Q1 2024 Crypto Industry Report shows continued growth and innovation within the cryptocurrency industry. As the market expands and develops, it is important to stay informed of the latest trends and developments to make informed decisions.

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