PANews reported on September 30 that according to Bitcoin.com, Coinbase Institutional wrote in the "Token2049 Meeting Highlights" report released last Friday: "Due to the US interest rate cuts and China's large-scale fiscal and monetary stimulus policies, we expect the fourth quarter of 2024 to be positive, which will enhance market liquidity and support Bitcoin's performance." The report focuses on Bitcoin and high-beta crypto assets, and is optimistic about the overall market outlook in the coming months.
The report also discusses Ethereum’s recent struggles, especially the rise in its transaction fees. The report states: “On-chain activity is growing, with increased trading volume on decentralized exchanges (DEXs) and higher Ethereum gas prices.” However, despite the recent launch of a spot Ethereum ETF in the United States, the token has not benefited as much as Bitcoin. The report describes: “While many market participants are optimistic about Bitcoin, we have encountered some skeptics about Ethereum as the token does not seem to benefit from the launch of the US spot Ethereum ETF more than two months ago.” However, the report points out that Solana and other L1 networks are more focused on scalability and transaction efficiency, and improvements in decentralized exchanges and blockchain infrastructure bring positive signals to the crypto space.
