CandleFocus

Binance Research: Key Trends in Crypto – November 2024

In October 2024, the cryptocurrency market saw a 2.8% increase, with Bitcoin (BTC) reaching near-record highs thanks to a $5.4 billion inflow from spot ETFs. Positive sentiment was driven by strong U.S. job data and anticipation of potential regulatory changes from the U.S. presidential election. Notable performers in the market included DOGE, Solana (SOL), and BTC. The DeFi sector experienced a 1.0% rise in Total Value Locked (TVL), with Solana leading the growth. The NFT market rebounded with a 15.8% increase in total sales volume, marking the first monthly gain since March 2024. The report also provides information on upcoming events and token unlocks in November 2024.

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