AQN Digital Monthly Chart Pack - November 2024
To keep you updated on key trends across the digital asset ecosystem, we present the State of the Crypto Markets, a monthly chart pack that covers recent developments and insights.
Highlights from this edition include:
Bitcoin continues to dominate, growing to over 60% of total crypto market cap. BTC ETFs pulled in $5.4B of net inflows while ETH ETFs saw $36M outflows.
Solana continues to garner notable gains in user activity and fee generation, challenging Ethereum in specific areas like memecoin trading and even DeFi traction.
Volatility and market sentiment shifts were evident as DEX trading volumes hit all-time highs, front-end options skew flipped bearish, and Bitcoin’s correlation with both equities and the USD surged.
Real-world asset tokenization continued to grow, with private credit and Figure's on-chain home equity lending leading gains.
Crypto fundraising saw $1.75B raised in October, highlighted by Stripe’s $1.1B acquisition of Bridge and Blockstream’s $210M raise, with infrastructure and DeFi leading deal volume.
New data sources from RWA.xyz for real-world assets and Coinseeker for venture activity provided valuable insights into on-chain economic trends and private market dynamics.
Please let us know what you think. We're always interested in receiving your feedback and questions.
All the best,
Sebastien Davies, CFA
Market Strategist
AQN Digital
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