📊 @Binance News ! Binance Research Monthly Market Insights - November 2024 📊

October brought growth and challenges in the crypto market:

➡️ 2.8% rise in market cap: Boosted by BTC spot ETF inflows and solid U.S. job data.

➡️ Geopolitical and regulatory concerns: Rising tensions in Israel-Iran and Tether’s legal scrutiny, paired with the U.S. presidential election's potential to reshape the regulatory landscape.

➡️ Bitcoin's evolving correlation: Nearing all-time highs with the S&P 500—this could redefine Bitcoin as both a risk asset and a hedge against macro uncertainties.

➡️ On-chain app revenue spike: User adoption is climbing; among the top 15 revenue-earning chains, 13 are applications—a potential signal for the future of blockchain.

➡️ Solana’s surge in token launches: Thanks to memecoins and launchpad pump.fun, Solana captured 90.6% of all new token launches in late October.

💡 Memecoin momentum: Memecoins dominated activity, with four of the top five performing tokens being memes. Memecoins' share within the top 50 altcoins has doubled since early 2024, averaging $5B in daily trading volume since February.

👉 For a deeper dive, download the full report below!

Crypto Market Rises 2.8% in October, Led by Bitcoin ETF Inflows and Solana’s Dominance in Token Launches

#BinanceNews #CryptoNewss #CryptoNews🚀🔥 #Market_Update #CryptoNewsCommunity