CoinGecko shared a detailed report on the first quarter of 2024, taking a close look at the cryptocurrency market.
CoinGecko, the data provider for the crypto market, released a report on the first quarter of 2024. The report highlights topics such as the approval of spot Bitcoin ETFs, Bitcoin reaching an ATH, and the meme coin frenzy based on Solana.
The report, presented in a total of 7 headlines, begins with Bitcoin’s growth of 68.8% and reaching a peak of $73,098 in the first quarter of 2024.
Focusing on the approval of spot Bitcoin ETFs, CoinGecko emphasized that Grayscale remains the largest spot Bitcoin ETF with a volume of $21.7 billion as of April 2.
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 increased to $8.32 billion in the top 10 in market value.
According to the report, the NFT transaction volume in the top 10 markets remained at $4.7 billion in the first quarter of 2024, with Magic Eden leading the way. Additionally, the spot transaction volume in centralized exchanges (CEX) reached $4.29 trillion in the first quarter of 2024, climbing to its highest level since the fourth quarter of 2021.
In parallel with the report, CoinGecko’s COO and co-founder Bobby Ong commented on the matter, saying:
Cryptocurrencies are off to a strong start in 2024 following the approval of spot Bitcoin ETFs in the U.S. and the expectation of Bitcoin Halving. While there are still global geopolitical and macroeconomic risks, we are optimistic that the sector will continue to innovate and bring new offerings to the market.
