Bitcoin and Ethereum Dominate Crypto Market in 2024 with 63.92% Share: Report

Highlights:

• A report by CoinEx Research and ViaBTC Capital shows massive growth of the crypto sector in 2024.
• The stablecoin market grew steadily over the year with USDT and USDC keeping their dominance.
• Tokenized U.S. Treasuries garnered a 26.7% market share and reduced the gap between traditional and decentralized finance.

The cryptocurrency market saw major changes in 2024. According to a report by CoinEx Research and ViaBTC Capital, Bitcoin and Ethereum led the market in terms of price movements. The halving event and ETF approvals brought Bitcoin close to $100,000.

The Dencun upgrade and the launch of Ethereum ETFs caused the coin’s price fluctuations. Towards the end of the year, ETH stabilized above $3,500. In Q4, the total cryptocurrency market capitalization reached over $4 trillion. Bitcoin captured the biggest market share, 52.34%, while Ethereum recorded 11.58%.

CoinEx & ViaBTC Release 2024 Crypto Annual Report: Unveiling the Future of Blockchain, AI, and Cryptocurrencies

In the realm of blockchain and AI, CoinEx and ViaBTC have released their 2024 annual report, highlighting the future of these pivotal technologies. It's akin to…

— aixnews (@aixnews_xyz) January 17, 2025

Price fluctuations of the coin were caused by the Dencun upgrade and the launch of Ethereum ETFs. Towards the end of the year, ETH stabilized above $3,500. In Q4, the total cryptocurrency market capitalization reached over $4 trillion. Bitcoin captured the biggest market share of 52.34% whilst Ethereum recorded 11.58%.

The stablecoin market also grew steadily over the year. USDT and USDC kept their dominance, while new stablecoins such as USDE and USD0 started to launch. These new coins had been developed in response to the growing need for multiple stablecoin options. MakerDAO’s change to ‘Sky,’ on the other hand, barely impacted its stablecoin offerings.

Bitcoin Halving and Its Ripple Effects on the Industry

The April Bitcoin halving event greatly impacted the market. This event slashed BTC’s annual inflation rate and created its scarcity. A historical price surge after a halving typically takes longer to materialize.

The halving event drew attention to Layer 2 solutions and the staking methods of BTC. New Layer 2 protocols reduced costs and improved transaction efficiency. Decentralized staking solutions like Babylon boosted network security and participation.

Growth of the Tokenized Ecosystem

The tokenization of real world assets grew as well in the year. Tokenized U.S. Treasuries became popular as they garnered a 26.7% market share. This trend closed the gap between traditional finance and decentralized finance. Moreover, the growth was supported by regulatory developments. They encouraged institutional involvement through the first physical Bitcoin ETF approved in the U.S.

Innovations and Trends Shaping the Future of Blockchain

There were a lot of breakthroughs for blockchain technology in 2024. Blockchain platforms began integrating AI, and crypto ecosystems started to leverage blockchain for transparency and decentralization. The total market capitalization of AI agents reached $16.7 billion in Q4.

Political meme tokens also thrived in the meme coin market because of high community support. Chains like pump.fun helped boost the blockchain world by showcasing many meme driven Super DApps.

The crypto mining industry has evolved as well, with over 56% of the energy used in Bitcoin mining coming from renewable sources. Africa and North America became key mining hubs. These regions were led by policy stability and abundant resources. Merged mining also boosted the growth of Litecoin and Dogecoin. Emerging stars such as Kaspa and Alephium posted outstanding hash rate spikes.

Institutions deepened their interest in cryptocurrencies. Bitcoin ETFs brought in $35.3 billion in inflows, while Ethereum ETFs contributed $2.6 billion. The report predicts that in 2025, AI infrastructure, privacy computing, and cross-domain applications are anticipated to drive the next wave of innovation.