LMAX Digital volumes were light as to be expected in a razor thin Monday holiday season session. Total notional volume for Monday came in at $587 million, 29% below 30-day average volume.

Bitcoin volume printed $311 million on Monday, 29% below 30-day average volume. Ether volume came in at $77 million, 31% below 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,696 and average position size for ether at $2,444.

Market volatility has been cooling off into year end after an impressive surge from October through mid-December. We’re looking at average daily ranges in bitcoin and ether of $3,707 and $182 respectively.

Traditional markets will be looking at an impressive year of performance in US equities and gold. The NASDAQ is set to close out 2024 up over 18%, while gold is looking to end the year up closer to 19%.

Meanwhile, the world’s second largest crypto asset has been a laggard in 2024 relative to bitcoin. And even still, will close out 2024 with a much more impressive return than traditional assets. ETH will look to close out 2024 up around 47%.

This leaves us looking at another spectacular year of performance for bitcoin, set to close out 2024 up some 118%. The year that was will be remembered as an important year which saw the arrival of the bitcoin ETFs, another bitcoin halving event, and wave of institutional and mainstream adoption.

The market is now all the more excited about the outlook for crypto assets heading into 2025 given what is expected to be an extremely crypto friendly US administration.

As far as recent updates go, there have been calls for more institutional, corporate, and nation-state adoption in 2025. As per one large crypto investment firm, 5 Nasdaq 100 companies and 5 nation states are expected to announce bitcoin adoption in early 2025.

And with so much demand expected for an asset that has a cap on supply at 21 million, the price outlook continues to be exceptionally constructive. Simply put, the more adoption, the more demand, the higher the bitcoin price.

We suspect all of this demand will have a broader, positive influence on the crypto asset class and inspire increased demand for investment in the decentralized finance space, which should help to drive the price of ETH back towards and through its record high from 2021.