Binance – Monthly Market Insights, April 2024

In March, the crypto market experienced a 16.3% increase in total market capitalization, with Bitcoin reaching an all-time high of $73,000 before dropping to $60,000. Spot BTC ETFs had a slowdown in capital inflows in the latter half of March but have seen over $12 billion in net inflows since their inception. Ethereum's Dencun upgrade led to a significant decrease in transaction fees on layer-2s. Solana's DEXes saw a 224% increase in trading volumes MoM and became the highest-volume network on some days in March. MakerDAO increased the Dai Savings Rate to 15%, resulting in a 39.6% increase in DAI deposits. As Bitcoin Halving approaches in April, the market is expected to focus on Bitcoin and related narratives, with volatile price action anticipated. Longer-term observations are needed to establish trends in the crypto market.