Crypto Market Recorded Strong Growth in December: Binance

Regardless of some difficulties, the cryptocurrency market ended 2024 on a powerful observe, reaching an all-time excessive (ATH) market cap of $3.91 trillion in December.

In a current perception report printed by Binance Analysis, the analysis arm of the cryptocurrency trade, the market’s development was largely influenced by Bitcoin’s stellar efficiency and regulatory optimism.

Bitcoin Turns into seventh Largest World Asset

Following the bitcoin halving occasion in April 2024, the main cryptocurrency has been on a roll, hitting ATH after ATH. With its newest peak of $108K, bitcoin’s market cap noticed a year-to-date (YTD) development of roughly 123.4%.

Its stellar efficiency in 2024 resulted in it being ranked the seventh largest world asset by market cap, surpassing Saudi Aramco, Silver, and Meta. Regardless of being a comparatively newer asset class in comparison with the extra established ones on the record, BTC stood out among the many finest performers in 2024, solely behind Nvidia.

Per the report, bitcoin’s spectacular development was fueled by a number of elements, together with optimistic world financial coverage shifts and the approval of spot BTC ETFs in January 2024. These monetary automobiles strengthened bitcoin’s legitimacy as an asset class, unlocking recent capital inflows from institutional traders.

In simply the primary 12 months, US-based spot Bitcoin ETFs gathered over $50 billion in property beneath administration (AUM).

Moreover, the not too long ago concluded United States presidential election additional fueled the rally. Donald Trump’s victory spurred optimism amongst market members as expectations of potential regulatory changes beneath the pro-crypto Trump administration heightened.

Curiosity in AI Brokers Explode

The report additionally highlighted the rising curiosity within the rising AI sector of the crypto business. The AI agents have gotten a scorching subject amongst market members, attracting vital investments.

Per the report, the sector’s increase was kickstarted by the AI agent Fact Terminal and the GOAT token. Following the token’s success, the sector has continued to evolve as new tasks launch.

With prime brokers’ tokens reaching excessive market valuations, Binance believes this sector might drive large business development in 2025. The highest AI brokers’ token, VIRTUAL, at the moment has a market cap of $4.2 billion.