CoinGecko shared a detailed report on the first quarter of 2024 by taking a close look at the crypto currency market.
CoinGecko, the data provider for the crypto currency market, released a report on what is happening in the market in the first quarter of 2024. The report highlighted topics such as the approval of spot Bitcoin ETFs, Bitcoin reaching its ATH, and the meme coin frenzy based on Solana.
The first headline of the 7-topic report was Bitcoin reaching the peak with a growth of 68.8% to reach $73,098 in the first quarter of 2024.
Focusing on the approval of the spot Bitcoin ETF, CoinGecko emphasized that as of 2nd April, Grayscale’s spot Bitcoin ETF remains as the largest with a volume of $21.7 billion.
During this period, it was noted that EigenLayer reached 4.3 million ETH through its re-staking feature, and the market value of meme coins in the Solana ecosystem broke records by increasing the market value of the top 10 by $8.32 billion.
According to the report, the NFT transaction volume in the top 10 markets in the first quarter of 2024 remained at $4.7 billion$4.29 trillion in the first quarter of 2024, climbing to its highest level since the 4th quarter of 2021.
Parallel to the report, CoinGecko’s COO and co-founder Bobby Ong, who made a statement about the subject, said he was optimistic about the market’s progress:
Crypto currencies are off to a strong start in 2024 following the approval of spot Bitcoin ETFs in the US and expectations for Bitcoin Halving. Despite ongoing global geopolitical and macroeconomic risks, we are optimistic that the sector will continue to innovate and offer new offerings to the market.
