Cryptocurrency Market Capitalization
The full market capitalization of digital property in 2024 elevated by 97.7%, peaking at $3.91 trillion in mid-December. The determine then consolidated round $3.4 trillion.
Within the fourth quarter, the capitalization grew by 45.7% ($1.07 trillion). The typical buying and selling quantity for the final three months of the yr was $200.7 billion, which is 128.2% larger than the earlier reporting interval ($88 billion).
Bitcoin Dominance
The primary cryptocurrency strengthened its place relative to different property, accounting for 53.6% of the overall cryptocurrency market capitalization.
Within the fourth quarter, Bitcoin elevated its dominance by 0.9%. In the meantime, XRP gained a 2% share, reaching 3.5%. Dogecoin (DOGE) entered the highest seven by market capitalization, displacing USDC. Ethereum (ETH) continued to point out unfavourable dynamics, lowering its share to 11.8%, the bottom stage since April 2021.
Bitcoin vs. TradFi
Bitcoin outperformed all main asset lessons each within the fourth quarter and all through 2024 as an entire.
For a lot of the yr, Bitcoin’s returns barely surpassed these of its opponents; nonetheless, after Donald Trump’s election victory, it reached a brand new peak of $108,000, representing a progress of 121.5% for the reason that starting of the yr. Conventional indices, authorities bonds, and gold carried out much less successfully. Within the fourth quarter, Nasdaq 100 rose by 8%, S&P 500 elevated by 3%, and the U.S. greenback index went up by 7%.
AI Tokens
The market capitalization of AI agent tokens surged by 322.2% within the fourth quarter, rising from $4.8 billion to $15.5 billion.
This class of cash emerged in early October following the launch of GOAT. At present, notable AI brokers are solely current on Solana and Base, with Base beginning to take the lead.
L2 Development
The variety of transactions within the ten largest Ethereum Layer 2 networks almost quadrupled in 2024 and elevated by 48% within the final quarter.
Base led in switch quantity amongst L2 networks, accounting for 48.3% of the overall worth. The typical every day determine for the community within the fourth quarter was 7.2 million transactions, with Taiko being the second most energetic community, surpassing Arbitrum.
Spot Buying and selling Volumes
The spot buying and selling quantity on centralized exchanges reached $6.45 trillion within the fourth quarter, rising by 111.7% in comparison with the earlier quarter and marking a brand new excessive.
For all of 2024, this determine totaled $17.4 trillion in comparison with $7.2 trillion in 2023. Binance stays a market chief; nonetheless, its share has decreased to 34.7%. The fastest-growing alternate was Upbit, with its quantity rising by 314.8% from $135.5 billion to $561.9 billion on a quarterly foundation.
On-chain Buying and selling
Within the fourth quarter, Solana turned the dominant blockchain for buying and selling quantity on DEXs ($220 billion), capturing a mean market share of 30%.
The Ethereum community recorded a buying and selling quantity of $184 billion, with its dominance starting from 25% to twenty-eight%. Over the annual interval, Ethereum managed to surpass Solana with a share of 33.5% in comparison with Solana’s 25.2%.It’s value noting that ForkLog has ready its conventional New Yr’s materials highlighting key tendencies and occasions for 2024.