Despite some difficulties, the cryptocurrency market ended 2024 on a strong note, reaching an all-time high (ATH) market cap of $3.91 trillion in December.
In a recent insight report published by Binance Research, the research arm of the cryptocurrency exchange, the marketâs growth was largely influenced by Bitcoinâs stellar performance and regulatory optimism.
Following the bitcoin halving event in April 2024, the leading cryptocurrency has been on a roll, hitting ATH after ATH. With its latest peak of $108K, bitcoinâs market cap saw a year-to-date (YTD) growth of approximately 123.4%.
Its stellar performance in 2024 resulted in it being ranked the seventh largest global asset by market cap, surpassing Saudi Aramco, Silver, and Meta. Despite being a relatively newer asset class compared to the more established ones on the list, BTC stood out among the best performers in 2024, only behind Nvidia.
Per the report, bitcoinâs impressive growth was fueled by several factors, including positive global monetary policy shifts and the approval of spot BTC ETFs in January 2024. These financial vehicles reinforced bitcoinâs legitimacy as an asset class, unlocking fresh capital inflows from institutional investors.
In just the first year, US-based spot Bitcoin ETFs accumulated over $50 billion in assets under management (AUM).
Additionally, the recently concluded United States presidential election further fueled the rally. Donald Trumpâs victory spurred optimism among market participants as expectations of potential regulatory changes under the pro-crypto Trump administration heightened.
The report also highlighted the growing interest in the emerging AI sector of the crypto industry. The AI agents are becoming a hot topic among market participants, attracting significant investments.
Per the report, the sectorâs boom was kickstarted by the AI agent Truth Terminal and the GOAT token. Following the tokenâs success, the sector has continued to evolve as new projects launch.
With top agentsâ tokens reaching high market valuations, Binance believes this sector could drive massive industry growth in 2025. The top AI agentsâ token, VIRTUAL, currently has a market cap of $4.2 billion.
The post Crypto Market Recorded Strong Growth in December: Binance appeared first on CryptoPotato.
In a recent insight report published by Binance Research, the research arm of the cryptocurrency exchange, the marketâs growth was largely influenced by Bitcoinâs stellar performance and regulatory optimism.
Bitcoin Becomes 7th Largest Global Asset
Following the bitcoin halving event in April 2024, the leading cryptocurrency has been on a roll, hitting ATH after ATH. With its latest peak of $108K, bitcoinâs market cap saw a year-to-date (YTD) growth of approximately 123.4%.
Its stellar performance in 2024 resulted in it being ranked the seventh largest global asset by market cap, surpassing Saudi Aramco, Silver, and Meta. Despite being a relatively newer asset class compared to the more established ones on the list, BTC stood out among the best performers in 2024, only behind Nvidia.
Per the report, bitcoinâs impressive growth was fueled by several factors, including positive global monetary policy shifts and the approval of spot BTC ETFs in January 2024. These financial vehicles reinforced bitcoinâs legitimacy as an asset class, unlocking fresh capital inflows from institutional investors.
In just the first year, US-based spot Bitcoin ETFs accumulated over $50 billion in assets under management (AUM).
Additionally, the recently concluded United States presidential election further fueled the rally. Donald Trumpâs victory spurred optimism among market participants as expectations of potential regulatory changes under the pro-crypto Trump administration heightened.
Interest in AI Agents Explode
The report also highlighted the growing interest in the emerging AI sector of the crypto industry. The AI agents are becoming a hot topic among market participants, attracting significant investments.
Per the report, the sectorâs boom was kickstarted by the AI agent Truth Terminal and the GOAT token. Following the tokenâs success, the sector has continued to evolve as new projects launch.
With top agentsâ tokens reaching high market valuations, Binance believes this sector could drive massive industry growth in 2025. The top AI agentsâ token, VIRTUAL, currently has a market cap of $4.2 billion.
The post Crypto Market Recorded Strong Growth in December: Binance appeared first on CryptoPotato.
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