幣安研究院發布 2024 年 11 月市場洞察報告，分析加密貨幣市場的市場趨勢與顯著發展

本月的報告深入探討了市值的變化、去中心化金融（DeFi）和不可替代代幣（NFT）的新興模式

Binance Research has published its latest “Monthly Market Insights” report for November 2024, offering a comprehensive analysis of recent trends and notable developments in the cryptocurrency market. This month’s report delves into shifts in market capitalization, emerging patterns in decentralized finance (DeFi) and non-fungible tokens (NFTs), and explores how current events are impacting the broader crypto landscape.

幣安研究院發布了 2024 年 11 月最新的「月度市場洞察」報告，對加密貨幣市場的最新趨勢和顯著發展進行了全面分析。本月的報告深入探討了市值的變化、去中心化金融（DeFi）和不可替代代幣（NFT）的新興模式，並探討了當前事件如何影響更廣泛的加密貨幣格局。

Key Insights for November 2024

2024 年 11 月的主要見解

Binance Research’s November report identifies several pivotal trends that have shaped the crypto market:

幣安研究院 11 月報告指出了影響加密貨幣市場的幾個關鍵趨勢：

1. Steady Market Growth Amid Global Challenges

1.全球挑戰下市場穩定成長

October saw a 2.8% increase in cryptocurrency market capitalization, driven primarily by substantial inflows into Bitcoin spot ETFs and optimistic U.S. job data. However, external factors like the Israel-Iran conflict and allegations involving Tether are causing caution among investors. The market is also reacting to the U.S. presidential election, with potential regulatory changes anticipated.

10 月份，加密貨幣市值成長 2.8%，這主要是由於大量資金流入比特幣現貨 ETF 和樂觀的美國就業數據。然而，以色列和伊朗衝突以及涉及 Tether 的指控等外部因素引起了投資者的謹慎。市場也在對美國總統大選做出反應，預計監管可能會改變。

2. Increased Correlation Between Bitcoin and S&P 500

2. 比特幣與標準普爾 500 指數之間的相關性增強

Bitcoin’s correlation with the S&P 500 has reached new highs, reflecting a shift in how the asset is perceived. Once seen as a hedge against traditional market volatility, Bitcoin is now viewed both as a risk-on asset and a potential safeguard against macroeconomic instability. The report explores the possibility of this trend continuing, potentially influencing Bitcoin’s role as an alternative investment.

比特幣與標準普爾 500 指數的相關性已達到新高，反映出人們對該資產的看法發生了轉變。比特幣曾經被視為對沖傳統市場波動的工具，現在被視為風險資產和應對宏觀經濟不穩定的潛在保障。該報告探討了這種趨勢持續下去的可能性，可能會影響比特幣作為另類投資的角色。

3. On-Chain Application Revenue on the Rise

3. 鏈上應用收入不斷成長

Revenues from on-chain applications have outpaced those from infrastructure projects, indicating real adoption and growing usage. Currently, 13 of the top 15 revenue-earning chains are applications, suggesting that a significant share of industry-wide revenue may accrue to applications rather than underlying blockchain infrastructure as adoption scales.

鏈上應用程式的收入已經超過了基礎設施項目的收入，顯示真正的採用和使用量的成長。目前，前 15 個創收鏈中有 13 個是應用程序，這表明隨著採用規模的擴大，全行業收入的很大一部分可能來自應用程序，而不是底層的區塊鏈基礎設施。

4. Record Token Launches on Solana

4. Solana 上的代幣發行量創歷史新高

Solana has emerged as the leading blockchain for token launches, capturing 90.6% of new weekly tokens by late October. This surge is linked to the popularity of memecoins and the user-friendly platform, pump.fun, which lowers barriers for token creation. Solana’s dominance in token launches highlights the network’s adaptability and appeal, particularly for retail and speculative activity.

Solana 已成為代幣發行的領先區塊鏈，截至 10 月底捕獲了 90.6% 的每週新代幣。這種激增與模因幣的流行和用戶友好的平台 Pump.fun 相關，該平台降低了代幣創建的障礙。 Solana 在代幣發行方面的主導地位凸顯了該網路的適應性和吸引力，特別是對於零售和投機活動。

5. Growing Popularity of Memecoins

5. Memecoin 日益流行

October was a strong month for memecoins, with these tokens representing four of the top five performers by trading volume. Memecoins have gained traction due to their perceived fairness, immediate circulation, and ease of accessibility. Since February, memecoins have consistently averaged around $5 billion in daily trading volume, reflecting sustained interest in this asset class.

十月是模因幣表現強勁的月份，這些代幣代表了交易量排名前五的代幣中的四個。 Memecoin 因其公平性、即時流通和易於獲取而受到關注。自 2 月以來，memecoin 的每日平均交易量一直維持在 50 億美元左右，反映出人們對這一資產類別的持續興趣。

In the past month, notable cryptocurrency price performances included:

在過去的一個月裡，值得注意的加密貨幣價格表現包括：

– Dogecoin (DOGE) surged 33.1%, fueled by a mention from Elon Musk related to government efficiency reforms.

– 受馬斯克提及政府效率改革的推動，狗狗幣 (DOGE) 飆升 33.1%。

– Solana (SOL) rose by 9.7%, benefiting from increased memecoin activity and growth in DeFi Total Value Locked (TVL).

– Solana (SOL) 上漲 9.7%，受益於 memecoin 活動的增加和 DeFi 總價值鎖定 (TVL) 的成長。

– Bitcoin (BTC) gained 7.4%, approaching its previous all-time high as ETF inflows drove institutional demand.

– 比特幣 (BTC) 上漲 7.4%，接近先前的歷史高點，因為 ETF 流入推動了機構需求。

– TRON (TRX) recorded a 7.5% gain, while Ethereum (ETH) declined by 3.7%, partly due to user concerns about fee structures and the rise of alternative chains.

– TRON (TRX) 上漲 7.5%，而以太坊 (ETH) 下跌 3.7%，部分原因是用戶對費用結構和替代鏈崛起的擔憂。

DeFi, NFTs, and Layer 1 Updates

DeFi、NFT 和 Layer 1 更新

DeFi continues to experience growth, with Solana, Base, and Aptos standing out for their TVL increases of 13.4%, 22.2%, and 57.1%, respectively. Solana’s DeFi TVL reached $7.6 billion, driven by institutional and retail interest. Other chains like Base saw record DEX volumes, with protocols like Aerodrome gaining a 50.9% share of Base’s DeFi market.

DeFi 持續成長，Solana、Base 和 Aptos 的 TVL 增幅分別為 13.4%、22.2% 和 57.1%。在機構和散戶興趣的推動下，Solana 的 DeFi TVL 達到 76 億美元。 Base 等其他鏈的 DEX 交易量創歷史新高，Aerodrome 等協議獲得了 Base DeFi 市場 50.9% 的份額。

NFTs saw a 15.8% rise in trading volume in October, marking the first monthly increase since March 2024. Ethereum collections like Bored Ape Yacht Club and Pudgy Penguins saw notable volume gains, while meme-based NFTs such as Milady Maker and Project AEON saw a resurgence. Although major blockchains experienced an overall decrease in volume, networks like Mythos and Algorand reported significant sales increases.

10 月份NFT 的交易量增長了15.8%，這是自2024 年3 月以來的首次月度增長。 meme 的NFT 的交易量也出現了顯著成長。儘管主要區塊鏈的交易量整體下降，但 Mythos 和 Algorand 等網路的銷售額卻出現顯著成長。

Bitcoin’s correlation with the S&P 500 reflects shifting investor sentiment. Historically, Bitcoin was perceived as a non-correlated asset, yet its increased correlation with traditional equities highlights its evolving role in portfolios. As markets anticipate potential interest rate cuts, traditional finance players are increasing their involvement in Bitcoin. Binance Research’s report examines this trend’s potential impact on Bitcoin’s hedging appeal and its role as an alternative asset class.

比特幣與標準普爾 500 指數的相關性反映了投資者情緒的變化。從歷史上看，比特幣被認為是一種不相關的資產，但其與傳統股票的相關性增強凸顯了其在投資組合中不斷變化的作用。隨著市場預期潛在的降息，傳統金融參與者正在增加對比特幣的參與。幣安研究院的報告探討了這一趨勢對比特幣的對沖吸引力及其作為另類資產類別的作用的潛在影響。

The report highlights the growing share of revenue captured by on-chain applications, with 13 of the top 15 revenue-generating projects being applications. As user adoption grows, applications are increasingly capturing market share compared to infrastructure projects, signaling a shift toward user-facing services. This trend underscores the importance of applications in driving long-term value within the crypto ecosystem.

該報告強調了鏈上應用程式所獲得的收入份額不斷增長，前 15 個創收項目中有 13 個是應用程式。隨著用戶採用率的成長，與基礎設施項目相比，應用程式越來越多地佔據市場份額，這標誌著向面向用戶的服務的轉變。這一趨勢強調了應用程式在推動加密生態系統中的長期價值方面的重要性。

October’s meme

十月的表情包