sam 12 Oct 2024 ▪
3
min reading ▪ by
Eddy S.
As of September 2024, the crypto market has grown by an impressive 8%, outperforming many traditional assets. This significant increase has been largely attributed to favorable macroeconomic conditions, which we will see later in this article.
The crypto market recorded growth of 8% in September!
Despite an overall slow third quarter, the crypto market outperformed traditional assets like gold by 8%, demonstrating its resilience and long-term growth potential. In September, the price of bitcoin fluctuated, but investors showed renewed confidence in the digital assets.
The decentralized finance (DeFi) sector particularly benefited from this dynamic, with a 9.6% increase in total value locked (TVL) in DeFi protocols. This growth reflects a renewed interest in decentralized applications and innovative financial services offered by crypto.
The key factors of this domination
Global economic decisions have played a crucial role in this recovery. The US Federal Reserve’s cut in interest rates has boosted investor confidence, while stimulus measures in China have boosted demand for cryptocurrencies. These factors contributed to an increase in the total capitalization of the crypto market, which reached unprecedented levels.
Additionally, institutional investors have continued to show increasing interest in digital assets. Nearly 50% of traditional hedge funds are now exposed to cryptocurrencies, taking advantage of increasing regulatory clarity. This trend highlights the growing acceptance of cryptos as a legitimate and promising asset class.
Finally, the 8% growth of the crypto market in September 2024 demonstrates the robustness and resilience of this sector in the face of economic challenges. Stimulus measures and monetary policy adjustments, such as the FED rate cut, have played a key role in this recovery, providing an optimistic outlook for the future of cryptocurrencies.
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.
