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Q4 Guide to Crypto Markets

Understand the key metrics and trends shaping the crypto landscape for institutional investors in the final months of 2024.

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Q4 Guide to Crypto Markets by Coinbase and Glassnode

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Institutions rely on Coinbase Institutional to understand, plan, and realize opportunities created by digital assets and web3.

Institutional investors leverage Glassnode's industry leading on-chain analytics to more clearly evaluate trading decisions.

The guide includes:

Market Overview

Including total crypto market cap, dominance, and correlations to major asset classes.

Bitcoin

Including market performance, price trends, spot ETF balances, and derivatives market data.

Ethereum

Including price trends, staking, Layer 2 activity, and the impact of the Dencun upgrade on fees.

Stablecoins

Insights on record-high stablecoin supply and their increasing utility in financial systems.

On-chain Activity
Analysis of transaction volumes, liquidity, and other key on-chain metrics for BTC and ETH.
Institutional Focus

Insights on institutional investment trends and the growing impact of Layer 2 solutions and stablecoins.

Navigating crypto market maturity & the rise of L2s

The 46-page Guide includes many highlights and key takeaways. Here are some of them:

Stablecoin supply hit an all-time high in Q3 2024

Stablecoin supply reached an all-time high of nearly $170 billion in Q3 2024, driven by benefits such as speed, cost efficiency, and security. They are increasingly being used to build robust payment systems, streamline cross-border transactions, and facilitate remittance payments.

$5B inflows signal strong demand for Bitcoin ETFs

US Spot Bitcoin ETFs attracted more than $5 billion in net inflows during the third quarter of 2024, playing a crucial role in deepening Bitcoin market liquidity. This significant influx highlights the growing confidence in Bitcoin as a financial asset and the increasing demand for Bitcoin investment products.

BTC Price Performance Since Cycle Low Chart by Glassnode

New L2s boost ETH transactions

The number of daily transactions within the Ethereum ecosystem has increased 500% since the beginning of 2023, driven by the expansion of new Layer 2 solutions and the emergence of diverse use cases.

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