Login Register
weekly crypto market report 1 april 2024

Weekly Crypto Market Reports: April 1, 2024

In the crypto market report prepared by the ICRYPEX Research team and covering the week of April 1 – April 8, we compiled the current developments regarding crypto assets, price movements of crypto assets and macroeconomy.

You can take a look at the general flow of this report below, and access all the developments that took place in the 7-day period at Weekly Crypto Market Reports: April 1, 2024 .

Overview of April 1 Weekly Crypto Market Report

Last week, Bitcoin started the week with a horizontal-negative price movement. After the sales pressure that continued until Wednesday, it started to trend upward again with the reaction it received from the 64,500 band. Bitcoin, which tested the 66,000 level for the last time after the employment data on Friday, closed the week at 69,300 after the reaction it received from here, and managed to rise above the 70,000 region on Monday. During this period, the total cryptocurrency market value closed the week at over 2.5 trillion dollars, while the altcoin market value closed at 1.15 trillion dollars.

Ethereum managed to close last week at $3450, when it reached the level of 3200. In this process, Bitcoin dominance continued its rise in line with our expectations and completed the week at 54.40%, while Ethereum dominance, which lost value due to negative news flows, dropped to the critical level of 16.5%.

When we look at ETF performances, we see that GBTC outflows are gradually weakening, but the demand for other funds cannot remain at very strong levels. This situation continues to increase volatility in cryptos. While the end of Genesis’ GBTC sales was one of the important news in terms of ETF performances, BlackRock’s addition of giant companies such as Goldman Sachs, UBS, Citadel and Citi as new participating companies to the fund prospectus was one of the most important news flows of the week. Completing the past week with positive inflows, the total inflow amount in BTC ETFs reached 12.6 billion dollars, while the amount of assets under management remained at 56.96 billion dollars.

Those who want to get more comprehensive information about the week covering April 1 – 8 can review Weekly Crypto Market Reports: April 1, 2024 .

Risk Disclosure
Cryptocurrency assets have higher volatility compared to traditional financial instruments and involve various unique risks. There is no guarantee or commitment regarding the prices at which transactions will be executed. Therefore, before deciding to trade on ICRYPEX, you must fully understand, assess, and consider all potential risks you may encounter. The opinions, news, research, analyses, prices, or other information provided on ICRYPEX's official website, trading application, or social media platforms are general market commentary and do not constitute investment advice. ICRYPEX is not responsible for any losses incurred as a result of investments made based on such information.

What Is RWA in Crypto?
RWA means Real World Asset in crypto. It refers to physical or traditional financial assets made digital and available on blockchains. Imagine owning part of a building, a bond or a piece of artwork through crypto tokens. That simple step merges real-world value with DeFi innovation. These assets have become a hot topic in DeFi because they bring fresh use cases to the space. They let you access things...
Solana Staking ETF, a First in the US, Now Available for Trading - Ripple Applies for US Banking License
Solana Staking ETF, First in the US, Opens for Trading The REX-Osprey Solana + Staking ETF (SSK), developed in collaboration with REX Shares and Osprey Funds, has become the first crypto staking ETF to start trading in the US. The fund, which started trading at $ 25.47 on the Cboe exchange, offers investors both exposure to the Solana (SOL) price and the opportunity to earn staking returns on the Solana...
Grayscale’s Mixed Crypto ETF Gets SEC Approval – SEC Plans to Speed Up Crypto ETF Process
SEC Approval for Grayscale’s Mixed Crypto ETF The U.S. Securities and Exchange Commission (SEC) has “expedited” approval for Grayscale’s Digital Large Cap Fund, which is comprised of 80% Bitcoin, 11% Ethereum, and the rest altcoins like Solana, Cardano, and XRP, to convert into a spot ETF. The fund, which currently trades over-the-counter (OTC), will now be available for exchange-trading. The move...
First Solana ETF with Stake Rewards Coming to the US - Robinhood Expands Crypto Move with ETH-SOL Staking and Tokenized Shares
First Solana ETF with Staking Rewards Coming to the US Rex Shares and Osprey Funds are preparing to launch the first US ETF that offers direct exposure to Solana and staking rewards. The fund, announced as the “Rex-Osprey Solana + Staking ETF,” will hold SOL assets through a subsidiary in the Cayman Islands and aim to generate returns by staking at least 50% of those assets. Unlike traditional spot...
What is the Travel Rule?
With the introduction of crypto assets into our lives, many habits in the financial system are changing. However, these new technologies also bring some risks. Anonymous transactions, uncontrolled money transfers, and regulatory gaps. This is exactly where the “Travel Rule” comes into play. Developed to increase transparency in financial transactions and prevent illegal activities, this rule is starting...


Create an account

Now create an account where you can use your knowledge.
SIGN UP