FameEX Morning Crypto News Recap | November 12, 2024

Standard Chartered Bank Analysts Predict Bitcoin Rally Under Trump’s Presidency

Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, expects Trump’s commitment to cryptocurrency to elevate Bitcoin’s value. Kendrick believes that once Trump assumes office on January 20, he will actively promote Bitcoin, accelerating institutional adoption and driving further growth in the crypto market.

Ethereum Mainnet Transaction Volume Nears $60 Billion in a Week, Reaching Highest Level Since July

IntoTheBlock data on November 11 revealed a significant rise in Ethereum mainnet transaction volume, approaching $60 billion over the past week. This is the highest level since July, indicating heightened network activity.

Matrixport Report Suggests Market Expects Pro-Crypto Stance from Trump

Matrixport’s report indicates that markets anticipate Trump will foster a crypto-friendly regulatory environment, driving strong bullish momentum in the sector. With his inauguration set for January 20, 2025, the rally has a few more weeks to build, pushing crypto investors into uncharted territory.

Over 40,000 BTC Pulled from Exchanges in the Last Week

On-chain analyst Ali, citing Glassnode data, reported that over 40,000 BTC—valued at approximately $3.28 billion—were withdrawn from exchanges over the past week.

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

CoinShares data shows digital asset investment products attracted $1.98 billion in inflows last week, driving global assets under management to a record $116 billion. Bitcoin led with $1.8 billion, Ethereum followed with $157 million—the largest since July—and blockchain stocks received $61 million, marking significant interest across the sector.

Cryptocurrency Market Capitalization Surpasses $3 Trillion

CoinGecko data shows that total cryptocurrency market capitalization has exceeded $3 trillion. Bitcoin leads with about 55.8% of the market share, while Ethereum holds around 13.1%, indicating the strong dominance of these two major assets.

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