On the last day of 2024, reflecting on the magnificent bull market of the entire year in the cryptocurrency market, we are also filled with anticipation for 2025. Below is our annual summary of the cryptocurrency market data for 2024.
- BTC Price Annual Trend:
In 2024, BTC experienced significant fluctuations, with an annual increase of 119.21% from the beginning to the end of the year. The highest point reached $108,366.8, while the lowest dipped to $38,545. This year showed a clear bullish trend, but it was also filled with uncertainties and changing investor sentiments: the overall long-short ratio fluctuated between 0.9 and 1.1, indicating a subtle balance between bullish and bearish market participants. Throughout the year, the Fear and Greed Index dropped to an abnormal panic state near 17 at its lowest and surged to an extreme greed atmosphere around 94 at its highest, with market sentiment experiencing very extreme fluctuations at different stages.
- Cryptocurrency Market Capitalization:
As of December 31, 2024, the total market capitalization of cryptocurrencies reached $3.23 trillion, nearly doubling from $1.65 trillion at the end of last year. This is attributed to Bitcoin's strong performance and the stable development of other cryptocurrencies. Several factors influenced this bull market, primarily the narrative around spot ETFs, the halving of BTC mining rewards, the prevalence of Trump trading, and the favorable expectations surrounding the Federal Reserve's interest rate cuts. Looking at the market capitalization trend since the end of 2018, despite several significant corrections, the overall trend remains upward.
- Component Proportions on December 31, 2024:
Data shows that in terms of market capitalization composition, Bitcoin leads with a 62.43% share, reaching a market cap of $1.82 trillion. Ethereum follows with a 13.73% share, with a market cap of $402.38 billion. Other major cryptocurrencies such as XRP, BNB, SOL, DOGE, and ADA also occupy certain market shares, at 3.98%, 3.46%, 3.1%, 1.57%, and 1.02%, respectively. Among these, XRP saw the largest increase since the U.S. elections in November, returning to the top three in market capitalization. Meanwhile, MEME, AI, and RWA have been popular conceptual sectors throughout the year.
- Liquidation Data for 2024:
In 2024, the total liquidation value across the network reached an astonishing $86.069 billion, with the number of liquidated individuals reaching 28.5202 million. The largest single liquidation value was $7.55048 million. The cryptocurrency market coexists with high risks and high rewards, and we need to be cautious when engaging in contract trading to avoid becoming part of this data.
- ETF Data for 2024:
In terms of spot ETFs, the total inflow for U.S. BTC spot ETFs reached $34.363 billion, while the total inflow for U.S. ETH spot ETFs was $2.621 billion. The total inflow for Hong Kong BTC spot ETFs also reached $278 million. These figures indicate a growing interest from institutional investors in cryptocurrencies, and the inflow of funds into ETFs provides more liquidity and stability to the market, resulting in a significantly reduced correction amplitude in this bull market compared to previous rounds.
- Summary:
The year 2024 has been a year full of great opportunities for the cryptocurrency market. The strong performance of BTC and the growth of the total cryptocurrency market capitalization demonstrate the market's immense potential and diversity, though the volatility of the market cannot be overlooked. We will continue to provide timely market analysis and data support to help everyone make informed decisions in this complex and ever-changing market.
Let us join hands to welcome 2025, looking forward to new surprises and opportunities in the cryptocurrency market.
December 31, 2024
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