Binance – Market Pulse, 1Q 24

Binance Research's Market Pulse for 1Q 2024 highlights positive trends in the crypto industry, with spot BTC ETFs attracting significant investment and the total market cap increasing by 60% quarter-on-quarter. Solana stood out in Layer 1s & 2s, with strong performance driven by meme coin trading and ecosystem growth. DeFi saw a 70.6% increase in TVL to US$92.0B, driven by liquid staking and restaking. NFT sales volume increased by 27% quarter-on-quarter, with activity across Bitcoin, Ethereum, and Solana. In the gaming sector, BNB Chain, Ethereum, and Polygon dominated market share, controlling around 70% of the market by number of games.