CandleFocus Binance Research: Key Trends in Crypto – December 2024
2024-12-09
Author: Content Editor
In November 2024, the crypto market experienced significant growth, reaching a record market capitalization of $3.47 trillion. This growth was driven by Bitcoin's rally to over $100,000 and increased institutional participation. The resignation of SEC Chair Gary Gensler led to speculation about favorable regulatory reforms for digital assets. The blog also highlights key developments in the Web3 ecosystem, including the performance of crypto, DeFi, and NFT markets. Altcoins saw a resurgence, with Solana outpacing Ethereum in daily fees. In the DeFi space, Total Value Locked (TVL) surged, with Solana, Base, and Sui leading the way. The NFT market experienced a surge in sales volume, although consolidation among fewer, higher-value transactions was observed. The blog concludes by highlighting upcoming events and token unlocks in December 2024.
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