Report: In the first half of this year, the trading volume of institutional investors in cryptocurrency spot transactions increased by 95% year-on-year

2024-07-22 21:41:18

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ChainCatcher message, according to a recent report by Finery Markets, the institutional cryptocurrency market experienced significant growth in the first half of 2024, with total spot trading volume soaring 95% year-on-year.

The report highlights that the first half of 2024 is a critical period for institutional adoption of cryptocurrencies. Bitcoin ETFs have been launched in Australia, the United States, and Hong Kong. VanEck's application for a Solana ETF underscores the growing trend of diversification in cryptocurrency investment tools.

Additionally, despite lower institutional participation, some altcoins (such as TRX and BNB) showed substantial growth, with spot trading volumes increasing by 202% and 129% year-on-year, respectively. In contrast, Ripple (XRP) saw a year-on-year decline of 18%.

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