Cryptocurrency Market End-of-Month Observation (April 30, 2024)
The market exhibits a typical oscillation pattern, with major tokens engaged in tug-of-war within key price ranges.
Bitcoin continues its high-level consolidation trend, with its daily fluctuation range narrowing to $92,953 - $95,490, maintaining a gentle weekly increase of 1.09%.
Ethereum demonstrates strong resilience, achieving a steady climb of 2.71% over the week, becoming the leading asset among mainstream coins.
The total market capitalization remains in the range of $2.4 trillion, with a 24-hour trading volume of $78 billion, indicating sustained active capital.
Bitcoin is currently priced at $94,540, with a daily trading volume of $26 billion. Although it has slightly declined by 0.59% during the day, it still maintains its weekly increase, holding a market capitalization of $1.87 trillion in first place.
ETH has stabilized at $1,805, with a daily trading volume of $14.1 billion, leading the weekly increase among mainstream coins, with a locked market capitalization of $217.8 billion.
SOL is currently priced at $146.7, facing short-term selling pressure, with a daily drop of 1.04% and a weekly drop of 0.91%, holding a market capitalization of $75.9 billion in fifth place.
XRP is priced at $2.24, with a daily drop of 2.68%, but the weekly line shows an increase of 1.6%, maintaining seventh place with a market capitalization of $131 billion.
Key Market Movements
Regulatory Developments: SEC delays approval for XRP and Dogecoin ETFs, while regulation in the derivatives market continues to tighten.
Policy Impact: Trump's team releases new signals for cryptocurrency regulation, causing fluctuations in market expectations.
Ecosystem Development: Several leading projects announce their Q2 development roadmap, with a $120 million ecosystem incentive plan emerging in the Layer 2 track.
Capital Flow: Weekly net inflows into stablecoins reach a three-month high, with a 28% surge in open interest in derivatives.
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