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-Bybit Institutional Report 2024: Institutions turn bullish and look at challenger chains, while venture capital funding resurfaces for infrastructure, gaming and artificial intelligence
DUBAI, UAE, April 18, 2024 /PRNewswire/ -- Bybit, one of the world's top three crypto exchanges by volume, has partnered with Treehouse, the industry-leading research institute offering professional insights into digital assets, and jointly released its 2024 Institutional Industry Report. Provides an extensive analysis of the current state of cryptocurrency adoption around the world, examining how it compares to traditional finance (TradFi).
During the period between October 2023 and March 2024, the cryptocurrency sector saw a significant increase in value, with its market capitalization increasing from just over $1 trillion to over $2.5 trillion as of late. of March. This upward trajectory reflects growing investor confidence and a substantial influx of capital into the crypto ecosystem.
Digging deeper into the findings, the report reveals bullish trends in the derivatives market, along with signs of increasingly aggressive on-chain activities for BTC and ETH. It also explores the investment behaviors of institutions through on-chain metrics and highlights the growing interest in AI and BTC ecosystem projects.
Additionally, the report investigates the potential long-term impacts of ETFs and offers insight into what to expect from the upcoming bitcoin halving event, as well as key themes highlighted for a 2024 bull run that is starting to show. early signs of rebound.
Institutional Focus Areas: Key Highlights
1. The derivatives market becomes increasingly bullish
Examining the long-term buying and selling biases during the 30 days of March 2024 reveals notably bullish sentiment despite the relatively sideways movement in the market during March, with both BTC and ETH generally exhibiting a large buying premium.
This trend suggests that investors maintain a generally bullish outlook on the long-term price potential of these two major cryptocurrencies towards the end of the year.
2. Bitcoin as a perfect TradFi hedge
Both BTC and ETH correlations with traditional indices, stocks or fixed income remain below 3% in all cases. Of particular interest, BTC specifically demonstrates negative correlations of returns with major stock indices, indicating its potential role as a diversification hedge for equity-focused portfolios.
With a modest 5% allocation to BTC and ETH (equally weighted), the S Sharpe Index
3. Renewed interest in challenger chains
Since the beginning of Q4 2023, challenger chains' native tokens have seen significant performance compared to ETH. For example, SOL emerged as the top performer among these challenger tokens, continuing the trend seen in 2021 as the largest challenger chain by TVL and transaction volume.
4. Boost financing: infrastructure projects, games and artificial intelligence
Venture capital (VC) funding in the crypto industry has seen a significant resurgence. In Q4 2023, the number of VC deals increased 21% to 174 deals, and disclosed funding reached $1.42 billion, an increase of 29%. In Q1 2024, there were 243 deals with disclosed financing totaling $1.94 billion, representing an additional 36% increase compared to Q4 2023.
Infrastructure projects remain the primary focus of venture capital investments, attracting substantial capital to support the fundamental elements of the blockchain ecosystem. These projects span multiple sectors, including hardware wallets and blockchain data providers, and offer crucial solutions to address industry challenges and drive innovation.
As the traditional market integrates with cryptocurrencies, it presents constant challenges for TradFi participants and newcomers to navigate through the increased complexities. Staying informed is crucial to staying ahead in this evolving landscape.
To read the full report, visit: https://learn.bybit.com/crypto-insights/bybit-institutional-x-treehouse-crypto-landscape-in-q1-2024-analysis-narratives/
About Bybit
Bybit is one of the world's top three crypto exchanges by trading volume with over 25 million users. Established in 2018, it offers a professional platform where cryptocurrency investors and traders can find a lightning-fast matchmaking engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula One Constructors and Drivers champions – the Oracle Red Bull Racing team.
For more details on Bybit, visit Bybit Press.For media inquiries, contact: media@bybit.com For more information, visit: https://www.bybit.com For updates, follow: Bybit's Communities and Social Media
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