Binance Research, the market research arm of Binance, has today published a report outlining the crypto industry’s performance, titled “Full-Year 2023 & Themes for 2024.” The report gives institutional-grade analysis and insights to cryptocurrency investors. This report examines the cryptocurrency market in-depth, looking at its performance over the last 12 months and outlining eight factors that could influence the sector in 2024.
An integral aspect of Binance Research’s mission is to help newcomers and seasoned insiders alike understand the cryptocurrency market. The carefully researched year-end report covers all the bases, from monthly and quarterly industry insights to the most recent thematic crypto narratives.
Although there was a rebound in October 2023, market fundamentals changed and the worldwide stablecoin market cap fell 5.2% year-to-date. New forces like Collateralized Debt Position (CDP) and LST-backed stablecoins have entered the market, but centralised stablecoins still control 92% of the market. Tether’s USDT has increased its dominance to 70.6% nonetheless.
Binance Research predicts the crypto market will continue to thrive in the years to come, citing 2023 as evidence that the industry can overcome obstacles through innovation, adaptation, and growth.
Binance Research also shared their thoughts on eight interesting themes they believe will be big in the cryptocurrency market in 2024 based on their professional study. Changes in the Bitcoin ecosystem, the ownership economy, RWAs, AI, on-chain liquidity, institutional adoption, and other relevant topics are all part of these themes.
This post was last modified on Jan 15, 2024, 10:00 GMT 10:00