The digital asset market has reached “significant maturity” in 2024, with trading volumes and on-chain activity growing, as well as billions of dollars flowing into crypto ETFs, according to a report from Coinbase and Glassnode.
Experts noted the acceleration of the popularization of stablecoins and L2 for the second largest cryptocurrency by capitalization.
In 2024, the number of daily active Ethereum addresses increased sharply, and the number of transactions increased fivefold compared to early 2023.
The second-largest cryptocurrency by market cap “has regained a significant share of L1 fundraising, rising from a low of 9% in late August to 40% in late September.”
Interest in stablecoins, whose capitalization has reached $160 billion, is due to a shift in investor focus in favor of higher-quality assets and the emergence of new use cases.
Another beneficiary of the risk-off trend has been Bitcoin.
Digital gold volatility over a three-month horizon has dropped below 60% compared to the 2021 peak of ~130%.
Spot ETFs based on the first cryptocurrency attracted $5 billion during the third quarter.
Coinbase's head of security, Phillip Martin, told Cointelegraph that the US Congress lacks education on cryptocurrencies, which could lead to "bad laws."
The platform educates lawmakers on consumer protection, security, and anti-illegal activities.
The expert noted that transactions that are unacceptable from a regulatory point of view make up 0.34% of the volume of digital assets.
The expert added that the same level of transparency is “completely impossible in TradFi.”
Earlier, Tether reported that it had frozen funds at ~1,850 addresses, returning more than $113.8 million, including $5 million related to Lazarus Group. The USDT issuer also helped freeze $1.86 billion stolen in various fraudulent schemes.
Recall that Chainalysis estimated the volume of laundered cryptocurrency since 2019 at $100 billion.
#Coinbase #newscrypto #newsdaily #ETF✅
