Market Update: October 2024 | Week 2


14 OCT 2024 | RESEARCH


Welcome to Wintermute OTC Market Update. This weekly commentary aims to provide color on the recent crypto market developments.


Highlights



  • Last week, Bitcoin experienced negligible volatility, ending the week near $62,800 amid slightly higher-than-expected monthly inflation figures.

  • The notable disparity in the performance of Bitcoin and Ethereum investment vehicles, including spot ETFs and futures contracts, to date strongly indicates a growing institutional preference for Bitcoin.

  • Weekly on-chain trading volume has surged by 50% from $26 billion to $39 billion in recent weeks, primarily driven by increased memecoin activity on Solana.


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