Crypto Market Recorded Robust Progress in December: Binance

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

In a latest perception report printed by Binance Analysis, the analysis arm of the cryptocurrency alternate, the market’s progress 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 $108Ok, bitcoin’s market cap noticed a year-to-date (YTD) progress of roughly 123.4%.

Its stellar efficiency in 2024 resulted in it being ranked the seventh largest international 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 listing, BTC stood out among the many greatest performers in 2024, solely behind Nvidia.

Per the report, bitcoin’s spectacular progress was fueled by a number of elements, together with constructive international financial coverage shifts and the approval of spot BTC ETFs in January 2024. These monetary autos bolstered bitcoin’s legitimacy as an asset class, unlocking contemporary capital inflows from institutional buyers.

In simply the primary yr, US-based spot Bitcoin ETFs amassed 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 individuals 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 trade. The AI agents have gotten a scorching subject amongst market individuals, attracting vital investments.

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

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