Hero's Image

Market Pulse Q3'2024

Primers

Market Pulse Q3'2024

 

Key Takeaways

Three factors are boosting our outlook for Q4’24 and into 2025:

 

Ecosystem developments: 

 

While the initial adoption of spot ETH ETFs fell short of expectations, key metrics in the Ethereum ecosystem remain strong and growing. Meanwhile, Solana continues hitting new milestones, emerging as a stronger competitor in the smart contracts space.

 

Institutional adoption:

 

More public pension funds joined Wisconsin in allocating to spot BTC ETFs. Sony announced an Ethereum L2, Solana is getting its first private credit fund, PayPal’s PYUSD stablecoin hit $1 billion in market value, and Visa will help institutions issue fiat-backed tokens on Ethereum.

 

Easing and elections:

 

The end of the Fed’s tightening cycle and China’s massive stimulus program are increasing global liquidity. Regardless of November’s election outcome, the growing importance of “crypto voters” suggests a more favorable outlook for bipartisan progress in the next several years.

Strengthening competition in smart contracts and bitcoin’s role as a pristine asset continuing pushing forward a strong case for diversified crypto investing. With bitcoin’s recovery phase potentially in its late innings, monetary easing gaining momentum all across the globe, and a favorable regulatory outlook emerging in the US, conditions seem ideal for the current cycle to continue rhyming with previous ones and for the asset class to potentially enter a new bull phase as 2024 comes to an end and we head into 2025.*

Logo Hashdex
The material contained on this website is for informational purposes only and Hashdex, and its affiliates, is not soliciting any action based upon such material. The material is not to be construed as investment advice nor is it to be construed as recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy. Further, the material contained on this website does not constitute a representation that the financial instruments described therein are suitable or appropriate for any person. Past performance is not an indication of any future performance. Hashdex collects its data from public sources. Therefore, there is no liability for any delays or inaccuracies in the information due to the updating schedule of these sources. This website may contain advertising of financial products.