Crypto Market Update: Where Are We NOW?! What’s NEXT?
Published: 2024-05-05
Status:
Available
|
Analyzed
Published: 2024-05-05
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Bitcoin achieved a 69% return in Q1 2024, outperforming other major asset classes.
"Bitcoin outperformed all major asset classes with a plus 69% return in 2024 q1"
Pending
Following the approval of US spot ETFs on January 10th, Bitcoin experienced a 16% drop, reaching a quarterly low of $39,555.
"after the long awaited approval of the US spot ETFS on the 10th of January BDC dumped by 16% to its q and low of $ 39,5 5"
Pending
Bitcoin surged 85% from its January low, surpassing its previous all-time high of $69,000 to reach over $73,000 by March 14th.
"BDC bounced up 85% from the January low and moon passed the previous alltime high of $69,000 set in 2021 to a new set record of above $73,000 on the 14th of March"
Pending
For the first time, Bitcoin set a new all-time high before its halving event, rather than after.
"this was particularly remarkable because it was the first time BTC reached a new alltime high before an upcoming haling rather than sometime afterwards"
Pending
The total assets under management for US spot Bitcoin ETFs reached $28.6 billion upon their SEC approval on January 10th.
"when the ETFs were approved by the SEC on the 10th of January the sum of their total assets under management was $28.6 billion"
Pending
By early April, the total Assets Under Management for Bitcoin ETFs had nearly doubled to $55.1 billion.
"by the start of April the AUM of all of the ETFs had almost doubled rising to 55.1 billion"
Pending
Grayscale's GBTC saw a $7 billion (nearly 25%) decrease in Assets Under Management during the same period.
"meanwhile the AUM of grayscales gbtc dropped by $7 billion or almost 25% during the same period"
Pending
Grayscale is reportedly planning to launch a new spot Bitcoin ETF with a 0.15% fee.
"it appears that grayscale is preparing to launch another spot Bitcoin ETF this time with an aggressively low fee of 15%"
Pending
Restaked ETH on the Igen Layer grew by 36% in Q1, reaching a total of 4.3 million ETH.
"eth reaking on Iger layer which grew by 36% in q1 bringing the total amount of eth restate to 4.3 million"
Pending
By the end of March, over half of all restaked ETH was held in liquid restaking protocols, not natively.
"by the end of March more than half of all restate eth was not natively restate but instead held in liquid reaking protocols"
Pending
Ethery leads the liquid restaking protocol market with a 21% share, holding 910,000 ETH.
"ethery does have a convincing lead commanding a 21% market share with 910,000 eth"
Pending
The Dencun upgrade, introducing blobs and Proto-Danksharding, successfully went live on March 13th.
"this went live on the 13th of March and was by all accounts a great success it introduced blobs and Proto Dan Shing for the first time"
Pending
The Dencun upgrade has reduced Layer 2 network fees (e.g., Base, Arbitrum, Optimism) by 10x to 100x.
"fees on layer 2 networks like bass arbitrum and optimism have been reduced by a factor of 10 to 100x"
Pending
The Dencun upgrade has increased the scalability and transaction speed of Ethereum Layer 2s by 45x to 100x.
"dun increase scalability or transaction speed of ethereum layer 2s by a factor of 45 to 100x"
Pending
Ethereum's price increased by 59.9% in Q1, briefly surpassing $4,000.
"eth rallied 59.9% in q1 and briefly broke above $4,000 again"
Pending
Solana's price saw a 100% quarterly return in Q1, reaching $22.8.
"Saul continued the monster run it began in late 20123 and closed q1 at $22.8 for a quarterly return of 100%"
Pending
Average daily traded volume on Solana nearly doubled from $2 billion in Q4 2023 to $3.8 billion in Q1 2024.
"average daily traded volume almost doubled from 2 billion in in Q4 2023 to 3.8 billion in q1"
Pending
Approximately 5,000 new tokens were launched on Solana daily during Q1 2024.
"there was almost 5,000 new tokens launched on Salana every day in q1 2024"
Pending
The top 10 meme coins on Solana rallied by 800% in Q1, increasing their market cap from $1 billion to $9.36 billion.
"in Q alone this shiny new top 10 rallied by 800% growing from a collective market cap of 1 billion to 9.36 billion"
Pending
WEN experienced a parabolic rally in March, closing Q1 with a market cap of $4.6 billion.
"went absolutely nuts with a parabolic rally in March this s Clos q1 with a market cap of 4.6 billion dollar"
Pending
Ethereum's share of DEX traded volume has been in a medium to long-term decline, falling from 56% in Q3 2023 to 30% by mid-Q1.
"ethereum in share of Dex traded volume it appears to be in a medium long-term decline falling from 56% at the start of Q3 2023 to the low of 30% by mid q1"
Pending
Solana's share of DEX volume grew from 8.6% to 21.3% in Q1, driven by meme coins and airdrop hunters.
"salana whose share of volume Grew From 8.6% to 21.3% in q1 boyed by memes and airdrop Hunters"
Pending
Base saw its DEX volume share increase from 4% to 2.38% in Q1, though on a smaller scale than Solana.
"we saw the same thing happen on base albeit by a much smaller scale its share of volume Grew From 4% to 2.38%"
Pending
Bitcoin is expected to break out of its current range, with the direction (up or down) being uncertain, requiring preparation for both scenarios.
"Bitcoin will eventually break out of its current range and then we're either going to go up or down it's impossible to say with certainty which it'll be and that's why we have to be prepared for either outcome"
Pending
The total market capitalization of DeFi-related tokens tracked by CoinGecko grew by 49.1% in Q1.
"the total market cap of coin gecko's defi category increased by 49.1% in q1"
Pending
The total value locked (TVL) in DeFi protocols increased by 70% in Q1.
"the overall tvl of defi increased by 70% in q1"
Pending
The TVL in liquid staking protocols grew by 73.7% in Q1, reaching $56 billion.
"liquid stake in tbll Rose by 73.7% in q1 to $56 billion"
Pending
The increase in liquid staking TVL was primarily due to ETH's 60% price rally in Q1; the actual amount of staked ETH only grew by 10.7%.
"the report points out this increase was mostly just off the back of E's 60% rally in q1 and the amount of e State actually increased by just 10.7%"
Pending
The restaking sector's TVL grew by nearly 11 times, reaching $12.6 billion.
"the reaking sector pulling almost 11x to 12.6 billion"
Pending
Binance reclaimed market share, increasing its dominance from around 40% in November 2023 to nearly 50% by the end of Q1.
"binance is still Top Dog by a very wide margin and has reclaimed some of the market share that it lost in 2023 it bounced from lows of around 40% last November back to almost 50% by the end of q1"
Pending
Q1 2024 cumulative spot volume on centralized exchanges was $4.29 trillion, nearly double the previous quarter and the highest since December 2021.
"the cumulative spot volume of q1 was almost double that of the previous quarter and at 4.29 trillion was the highest quarterly volume recorded since December 2021"
Pending
MEXC's share of traded volume on centralized exchanges has been declining since Q3 2023, falling from 6% to 2.6% by March.
"max C shares of traded volume has been in Decline since Q3 2023 shrinking from around 6% in October to just 2.6% in March"
Pending
Arbitrum briefly became the largest DEX chain, capturing almost 40% of volume due to its incentive program, before dropping to 8% in March.
"arbitrum's short-term incentive program... so arbitrum suddenly and briefly become the biggest chain for spot trading grabbing almost 40% of all deck volume before plummeting to just 8% in March"
Pending
A significant Bitcoin correction in Q2 is predicted to have a very negative impact on altcoins.
"if BTC sees a larger correction in Q2 it's likely going to be very ugly for altcoins"
Pending
A market cooling off in Q2 could create more potential for growth in the next 12 to 18 months.
"cooling off in Q2 would most likely give us more room to run higher in the next 12 to 18 months"
Pending
If Bitcoin experiences a strong rally in Q2, altcoins are expected to benefit and perform well.
"if BTC starts to run hard again in Q2 altcoins will inevitably benefit and no doubt many of us will be very happy"
Pending
A rapid Bitcoin rally in Q2 could indicate that a cycle top is approaching sooner than anticipated.
"such a move would lend Credence to the argument that a cycle top is coming faster than most of us are expecting"
Pending