#Bitcoin markets have seen a surge in spot trade volume since the US Spot ETFs went live in early January 2024. As the market reached the $73k ATH in mid-March, daily volumes recorded a peak of ~$14.1B.
This magnitude of spot trade volume is equivalent to the height of the 2020-2021 bull market, although it has started to cool down in recent weeks, currently at $7B/day.
The analysis revealed:
- Stablecoins are on track to be in top 10 holders of US debt within 10 years
- A simple extrapolation of the last 3 years would make stablecoins the largest holders of US debt
remember that in dec. 2020, BTC touched its prior all-time high of ~$20k twice, then ranged and traded -11.3% lower over 15 days before definitively breaking ATH
likely to look similar here, and some consolidation would be healthy after +62% YTD / +77% from YTD low (jan 23)
How will #SmartContracts impact the global financial markets? We dig into how smart contracts are currently being used and look at how they might start to affect how global markets function https://t.co/NmJ0jvkBtS
The good news: GBTC outflows trending down. The bad news: so are the Nine's. That leaves us with TOTAL ROLLING NET FLOWS of +$824m. Also $ARKB and $BITB crossing half a billion is remarkable. For any normal launch in first month that's considered blockbuster-level success.
Can cities issue their own currency? #Lugano did and it seems to be a huge success. See our podcast with Lugano and their future plans here https://t.co/IgE1GvRrLG
What is the top performing token in 2024 and what is its rise telling us about what to expect in 2024? Check out our update below https://t.co/ZvTlbkTxtC #DeFi
The #BitcoinETFs were supposed to send #bitcoin higher but it is now below the level when these #ETFs listed - why? See our piece on the key drivers for this move lower and what comes next https://t.co/5YcuAEdP1J
Curious about who is winning the #bitcoinetf race? Checkout our update on who has the lead and what the next round of #CRYPTO#ETFs might look like https://t.co/tQtt5l5H5n
Ethereum Name Service (@ensdomains) up 125% year to date highlighting how some of the dApps are leading the charge in 2024. Follow us here https://t.co/QbBf9Twyth for breaking news in the Defi space