CoinGecko’s 2024 Annual Crypto Industry Report discovered that Bitcoin (BTC) solidified its place because the cornerstone of the crypto market, rising its dominance to 53.6% of whole market capitalization by year-end.
Bitcoin outperformed all main asset lessons in 2024, delivering a staggering +121.5% annual return.
Bitcoin’s fourth halving in 2024 marked a pivotal second within the cryptocurrency market, initiating its fourth bull cycle. Nonetheless, the dynamics of this rally had been formed by surprising macroeconomic and geopolitical occasions.
From the approval of US spot Bitcoin ETFs to central financial institution fee cuts and Donald Trump’s re-election, these elements propelled Bitcoin and the broader crypto market to new heights.
Discover: Will a Trump Presidency Enhance Litecoin? LTC Worth Beneath Stress Forward of Inauguration
Complete Crypto Market Cap Surges Practically 100% In 2024
The analysis discovered that the whole cryptocurrency market capitalization almost doubled in 2024. It grew by a powerful 97.7% over the 12 months to succeed in an all-time excessive of $3.91 trillion in mid-December.
This progress was significantly pronounced in This fall, the place the market cap rose 45.7% quarter-on-quarter, including $1.07 trillion.
In reality, common day by day buying and selling quantity skyrocketed from $31.1 billion in Q3 to $62.6 billion in This fall, a rise of 101.3% QoQ.
Over $190 billion in spot quantity was recorded on 6 December 2024 alone when Bitcoin broke above $100,000, marking a yearly excessive.
“2024 Q4 was a landmark quarter for Bitcoin (BTC), as it rallied past $100,000 for the first time on 9 December 2024,” the report acknowledged. It reached a excessive of $108,135 earlier than retracing barely to finish the 12 months at $93,508. This represents a 121.5% improve from the beginning of the 12 months.
Bitcoin’s record-breaking rally to $108,135 symbolized renewed investor confidence, whereas rising tendencies like AI integration and Layer 2 scalability options showcased crypto’s evolving utility past speculative investments.
Discover: Trump Vows to Make US The Crypto Capital: However Which Nation Will Be Topped Crypto Capital
Market Cap of AI Brokers Grew 322.2% In 2024 This fall
AI brokers grew to become one of many fastest-growing sectors inside crypto in This fall 2024. Their market capitalization skyrocketed by 322.2%, from $4.8 billion to $15.5 billion.
Notably, the launch of GOAT on Solana spurred preliminary curiosity in AI brokers.
In the meantime, Centralized exchanges (CEXs) skilled unprecedented exercise in This fall 2024, with spot buying and selling volumes reaching an all-time excessive of $6.45 trillion, up 111.7% QoQ.
The important thing gamers embrace Binance. It maintained its dominance with a 34.7% market share amongst prime CEXs. Upbit was the fastest-growing CEX in This fall, with buying and selling volumes surging 314.8% QoQ, pushed by heightened exercise throughout South Korea’s political turmoil.
Total, CEXs processed $17.4 trillion in spot buying and selling quantity all through 2024—greater than double the $7.2 trillion recorded in 2023.
XRP noticed its market share climb to three.5%, making it one of many standout performers alongside Bitcoin in This fall 2024. This allowed XRP to leapfrog BNB and Solana to safe the fourth spot by market cap.
Dogecoin (DOGE) additionally re-entered the highest seven cryptocurrencies by market cap for the primary time since April 2021, changing USDC stablecoin—a notable shift reflecting altering investor sentiment.
The publish Bitcoin Outperformed Major Asset Classes In 2024, Specifically In This fall, CoinGecko Annual Report Finds appeared first on 99Bitcoins.
