VICTORIA, Seychelles , June 13, 2024 /PRNewswire/ — According to the latest monthly report by KuCoin Research, the crypto market experienced a significant uptick in activity and positive developments throughout May 2024. A major highlight was the unexpected regulatory approval of a Spot Ethereum ETF, which has significantly bolstered market confidence. The total assets under management (AUM) for Bitcoin spot ETFs rebounded to the $60 billion mark, reflecting renewed investor interest. Meanwhile,the stablecoin sector is showing mixed performance, with USDC and FDUSD seeing declines, while USDe achieving a new issuance peak.
Distinct trends were observed in public chains and Layer2 solutions, with platforms such as Base and Linea continuing to attract net inflows, standing out in a market shifting away from once-dominant narratives of high-performance public chains and low-cost on-chain fees. Despite a slight decrease in the number of disclosed crypto investment projects and funding amounts month-over-month, the year-over-year growth suggests sustained capital interest and developmental potential in the industry.
The KuCoin Monthly Research Report provides valuable insights and data analysis that helps industry participants make informed decisions and stay updated on the latest advancements. This commitment to knowledge dissemination reflects KuCoin’s dedication to supporting the growth and maturation of the cryptocurrency ecosystem.
Read the full report here.
About KuCoin Research
KuCoin Research is a leading provider of research and analysis in the cryptocurrency industry. With a team of experienced analysts and researchers, KuCoin Research aims to deliver high-quality insights and reports to empower investors and industry professionals.
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SOURCE KuCoin
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