FameEX Morning Crypto News Recap | November 12, 2024

Standard Chartered Bank Experts Forecast Bitcoin Surge Under Trump’s Presidency

Geoff Kendrick, Standard Chartered Bank’s global head of digital asset research, predicts that Trump’s commitment to cryptocurrency will boost Bitcoin’s value. Kendrick anticipates that after taking office on January 20, Trump will actively promote Bitcoin, accelerating institutional adoption and pushing the asset’s growth in the crypto market.

Ethereum Mainnet Transaction Volume Approaches $60 Billion Within a Week, Hitting Highest Level Since July

On November 11, IntoTheBlock data showed Ethereum mainnet transaction volume rising significantly, nearing $60 billion over the past week. This marks the highest transaction volume since July, signaling increased activity on the network.

Matrixport Report Indicates Market Anticipates Crypto Support from Trump

Matrixport’s report suggests that markets expect Trump to create a crypto-friendly regulatory environment, fueling strong bullish momentum in the sector. With Trump’s inauguration on January 20, 2025, the rally has a few more weeks to gain traction, marking a move into uncharted territory for crypto investors.

More Than 40,000 BTC Withdrawn from Exchanges Over the Past Week

On-chain analyst Ali reported via Glassnode data that over 40,000 BTC, valued at around $3.28 billion, were withdrawn from exchanges in the past week.

Digital Asset Investment Products See Record $1.98 Billion Inflows Last Week, Setting New Global Management Benchmark

CoinShares data reveals that digital asset investment products saw $1.98 billion in inflows last week, pushing global assets under management to a record $116 billion. Bitcoin led with $1.8 billion in inflows, followed by Ethereum with $157 million—the highest since July—and blockchain stocks, which received $61 million.

Cryptocurrency Total Market Capitalization Exceeds $3 Trillion

According to CoinGecko data, the total cryptocurrency market capitalization has surpassed $3 trillion. Bitcoin holds the largest share, accounting for approximately 55.8% of the market, while Ethereum represents around 13.1%, reflecting strong dominance by these two assets.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.