Blockchain Press Releases
Bybit Institutional Report 2024: Institutions Become Bullish and Eye Challenger Chains, while VC Funding Resurges for Infrastructure, Gaming, and AI
DUBAI, UAE, April 18, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, partnered with Treehouse, the industry-leading research institute that offers professional insights into digital assets, and co-launched its 2024 Institutional Industry Report. It provides an extensive analysis of the current state of crypto adoption worldwide, examining how it compares to traditional finance (TradFi).
During the period from October 2023 to March 2024, the crypto sector experienced a significant surge in value, with its market cap increasing from slightly above $1 trillion to over $2.5 trillion by the end of March. This upward trajectory reflects growing investor confidence and a substantial influx of capital into the crypto ecosystem.
Delving deeper into the findings, the report reveals bullish trends in the derivatives market, along with indications of increasingly aggressive on-chain activities for BTC and ETH. It also explores institutions’ investment behaviors through on-chain metrics and highlights growing interest in AI and BTC ecosystem projects.
Additionally, the report investigates the potential long-term impacts of ETFs and offers insights into what can be expected from the upcoming bitcoin halving event, as well as key themes highlighted for a 2024 bull run which is beginning to show early signs of upticking.
Institutional Focus Areas: Key Highlights
1. Derivatives market becoming increasingly bullish
Examining the long-term call-put skews over the 30 days in March 2024 reveals a notably bullish sentiment despite the relatively sideways movement in the market during March, with both BTC and ETH generally exhibiting a large call premium.
This trend suggests that investors maintain a generally bullish outlook on the long-term price potential of these two crypto majors toward the end of the year.
2. Bitcoin as the perfect TradFi hedge
Both BTC and ETH’s correlations with traditional indices, equity, or fixed income, remain below 3% in all instances. Of particular note, BTC specifically demonstrates negative correlations of returns with major equity indices, indicating its potential role as a diversification hedge for equity-focused portfolios.
With a modest 5% allocation into BTC and ETH (equally weighted), the S&P 500’s Sharpe ratio can be increased from 2.20 to 3.15, representing a 43.6% increase. This effect becomes more pronounced as investors willingly take on additional risks and allocate more capital to their crypto portfolios.
3. Renewed Interest toward challenger chains
Since the beginning of Q4 2023, native tokens of challenger chains have experienced significant performance as compared to ETH. For example, SOL emerged as the top performer among these challenger tokens, continuing the trend observed in 2021 as the biggest challenger chain by TVL and transaction volume.
4. Boosting funding: infrastructure, gaming, and AI projects
Venture Capital (VC) funding in the crypto industry has seen a significant resurge. In Q4 2023, VC deal counts rose by 21% to reach 174 deals, with disclosed funding reaching $1.42 billion, a 29% increase. In Q1 2024, there were 243 deals with disclosed funding totaling $1.94 billion, representing a further 36% increase compared to Q4 2023.
Infrastructure projects remain the primary focus of VC investments, attracting substantial capital to support the foundational elements of the blockchain ecosystem. These projects span various sectors, including hardware wallets and blockchain data providers, offering crucial solutions to address industry challenges and drive innovation.
As the traditional market integrates with crypto, it presents constant challenges for TradFi participants and newcomers to navigate through the heightened complexities. Staying informed is crucial to stay ahead in this evolving landscape.
To read the full report, visit: https://learn.bybit.com/crypto-insights/bybit-institutional-x-treehouse-crypto-landscape-in-q1-2024-analysis-narratives/
#Bybit / #TheCryptoArk
About Bybit
Bybit is one of the world’s top three crypto exchanges by volume with over 25 million users. Established in 2018, Bybit offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
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Blockchain
MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
The post MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase appeared first on HIPTHER Alerts.
Blockchain
Pollbits Redefines Crypto Trading Standards with Industry-Leading Features and Services
PollBits is redefining crypto trading standards with its industry-leading features and services. This platform is making waves in the cryptocurrency trading space by offering innovative solutions and setting new benchmarks for excellence.
PollBits stands out from other crypto trading platforms by introducing cutting-edge features and services that cater to the needs of traders and investors. By prioritizing user experience and functionality, PollBits is enhancing the trading experience and empowering users to make informed decisions in the dynamic cryptocurrency market.
PollBits’ commitment to excellence and innovation is driving its success and setting it apart as a leader in the industry. With its focus on providing industry-leading features and services, PollBits is positioning itself as a go-to platform for traders seeking a reliable and user-friendly trading experience.
Overall, PollBits’ redefinition of crypto trading standards underscores the rapid evolution and maturation of the cryptocurrency industry. As platforms like PollBits continue to push the boundaries of innovation, traders and investors can expect greater accessibility, transparency, and efficiency in cryptocurrency trading, ultimately contributing to the growth and adoption of digital assets worldwide.
Source: cryptonews.com
The post Pollbits Redefines Crypto Trading Standards with Industry-Leading Features and Services appeared first on HIPTHER Alerts.
Blockchain
Fantasy Metaverse Darklume – Presale is LIVE
The presale for Fantasy Metaverse Darklume is now live. This development marks a significant milestone for the project, signaling its progression towards launch and the realization of its vision for a fantasy-themed metaverse.
Fantasy Metaverse Darklume aims to create an immersive virtual world inspired by fantasy themes, offering users the opportunity to explore, interact, and engage with others in a digital environment. The presale phase represents an early opportunity for participants to acquire tokens associated with the project, potentially securing access to exclusive benefits or privileges within the metaverse once it is fully operational.
The launch of the presale underscores the growing interest in metaverse projects and their potential to redefine how people interact and socialize in virtual spaces. As the concept of the metaverse continues to gain traction, initiatives like Fantasy Metaverse Darklume are poised to play a significant role in shaping the future of digital experiences and entertainment.
The presale for Fantasy Metaverse Darklume represents an exciting opportunity for investors and enthusiasts to get involved in a promising project at an early stage. As development progresses and the metaverse evolves, participants can look forward to a new realm of immersive experiences and creative possibilities in the digital landscape.
Source: the-blockchain.com
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