In September 2024, the cryptocurrency market continues to experience volatility, which is reflected in the main trends:
1. Market Decline: In August 2024, the cryptocurrency market capitalization declined by 13.1% due to global macroeconomic factors such as rising interest rates and economic instability. Bitcoin (BTC) fell by 11.1% and Ethereum (ETH) by 24.9%, due to decreased blockchain activity and large liquidations.
2. Decentralized Finance (DeFi): TVL (Total Value Locked) in the DeFi sector decreased by 15.8%. However, some projects such as Sui and Symbiotic saw growth due to interest in their decentralized applications and new features.
3. Token Unlocks: Altcoins like Orbs and Biconomy are expected to unlock their tokens in September. These events could lead to increased liquidity in the market or, conversely, cause price instability.
4. NFT Market: NFT sales declined by 10.7%, although some collections like CryptoPunks showed growth. Gaming NFTs like Guild of Guardians also showed positive dynamics.
5. New Innovations: September is expected to see important updates such as the launch of MakerDAO’s USDS stablecoin and LayerAI’s mainnet. These developments may impact the growth and development of the market.
As such, the crypto market remains volatile, with opportunities for innovation in the DeFi and NFT sectors, as well as significant events that could change investor sentiment.
