CoinGecko has taken a close look at the crypto market and shared a detailed report on the first quarter of 2024.
CoinGecko, the data provider for the crypto market, released a report on the first quarter of 2024. The report highlighted 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, included Bitcoin’s growth of 68.8% to reach a peak of $73,098 in the first quarter of 2024.
Following this, CoinGecko focused on the approval of spot Bitcoin ETF, emphasizing that Grayscale’s spot Bitcoin ETF remained the largest as of April 2, 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 meme coins in the Solana ecosystem increased the market value of the top 10 by $8.32 billion, setting a new record.
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. In addition, the spot transaction volume on 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 expressed optimism about the market’s direction:
After the approval of spot Bitcoin ETFs in the U.S. and expectations for Bitcoin Halving, cryptocurrencies are making a strong start in 2024. While global geopolitical and macroeconomic risks still exist, we are optimistic that the sector will continue to innovate and offer new offerings to the market.
