CoinGecko encryption Annual Report 7 Highlights: CEX volume reaches a new high of $6.45 trillion, Solana surpasses Ethereum, AI agents rising...

BTC's fourth halving in 2024 marks the start of the fourth round of the Bull Market in the cryptocurrency market, which will be followed by the approval of the US Spot ETF, interest rate cuts by the central bank, and Trump's re-election. These changes brought cryptocurrency back into the mainstream spotlight after the FTX crash, while ETFs provided new avenues for capital inflows. This article is derived from the article "2024 Annual Crypto Industry Report" by CoinGecko, compiled and organized by Vernacular Block Chain. (Synopsis: Web3 Games 2024 Annual Report: Absentees Under Bull Market? (Background addition: the list is out!) Taiwan Block Chain "30 Most Influential People of the Year": 2025 Market Key Forecasts, Web3 Trend Analysis ) Our 2024 annual encryption industry report covers analysis from the encryption market landscape to BTC and Ethereum, with an in-depth look at Decentralized Finance and non-fungible Token (Non-fungible Token) ecosystem, and reviewed the performance of centralized trading platforms (CEX) and Decentralization trading platforms (DEX). We've summarized the main seven highlights, and you can read the full 53-page report if needed: 1) In the fourth quarter of 2024, the total market caprise of the cryptocurrency market increased by 45.7%, closing at $3.91 trillion, a year-over-year rise of 97.7%. 2) BTC has increased its market dominance and now accounts for 53.6% of the total Market Cap in the encryption market. 3) BTC outperformed major asset classes throughout 2024 and in the fourth quarter. 4) Market Cap for AI agents rose 322.2% in the fourth quarter of 2024, from $4.8 billion to $15.4 billion. 5) In the fourth quarter of 2024, the top ten Ethereum Layer 2 volumes rose by 48.3%, of which Base accounted for 48.3% of the volume. 6) In the fourth quarter of 2024, the centralized trading platform's Spotvolume reached $6.45 trillion, rising 111.7% month-on-month, setting a new all-time high. 7) In the fourth quarter of 2024, Solana surpassed Ethereum to become the dominant chain of DEX transactions, accounting for more than 30% of all DEX transactions. 1. In the fourth quarter of 2024, the total market caprise of the cryptocurrency market rose 45.7%, closing at $3.91 trillion In the fourth quarter of 2024, the total market cap of the cryptocurrency market rose 45.7% (or $1.07 trillion), and finally closed at $3.40 trillion. Although the market lost some momentum in the third quarter, after a brief bottom shock, the market ushered in the Rebound in the middle of the fourth quarter, especially after Donald Trump won the US presidential election. In 2024, the total Market Cap in the cryptocurrency market almost doubled, rising 97.7%. Its Market Cap reached an all-time high of $3.91 trillion in mid-December before falling back to $3.40 trillion. Meanwhile, the average volume in the fourth quarter of 2024 was $200.7 billion, up 128.2% from $88 billion in the third quarter. BTC market share rises, currently accounting for 53.6% of the total market cap in the cryptocurrency market BTC (BTC) continues to climb its market share, albeit at a slower pace, rising by 0.9% in the fourth quarter of 2024. XRP was the most prominent performer during the quarter, with a market share rising to 3.5% (up 2.0%). This allowed XRP to jump from 7th to 4th place, overtaking BNB and Solana (SOL). In addition, DOGE (DOGE) became the top 7 new currency in Market Cap, replacing USDC. This is the first time since April 2021 that USDC has failed to make the top 7. Meanwhile, Ethereum (ETH) continued to decline in the fourth quarter, with its market share falling to 11.8% from 13.4% in the third quarter, reaching its lowest level since April 2021. 3. BTC outperformed major asset classes overall and in the fourth quarter of 2024 The fourth quarter of 2024 was a milestone quarter for BTC (BTC) as it broke through the $100,000 mark for the first time and peaked at $108,135 on December 9, before retreating slightly and closing at $93,508 at the end of the year. This means that BTC is +121.5% from year-to-date. BTC's rise began with a low of $54,000 in the third quarter, but there was another significant rise after Donald Trump won the US presidential election. This upward momentum has also been supported by interest rate cuts by the US Federal Reserve and widespread expectations that monetary easing will continue in 2025. Meanwhile, average daily volume surged to $62.6 billion in Q4 from $31.1 billion in Q3, up +101.3% sequentially. On December 6, when BTC exceeded $100,000, Spotvolume exceeded $190 billion, a new annual high. The stock market also performed strongly in the fourth quarter, with a rise of +8.0% on the Nasdaq and +3.0% on the S&P 500. At the same time, the dollar index (DXY) also performed well, rising at +7.0%, mainly driven by the depreciation of other major currencies. The Japanese yen (JPY) was the worst performer in the fourth quarter, falling – 8.0%, all but erasing the rise due to the closing of the yen Arbitrage trade. Market Cap for AI Agents rose +322.2% in the fourth quarter of 2024, from $4.8 billion to $15.5 billion AI agents as a category rose rapidly after GOAT went live on Solana in early October. Although the "Terminal of Truths" pioneered the AI agent KOL in Prototype X, this narrative trend has mostly receded. However, the category's Market Caprise in the fourth quarter of 2024 was phenomenal, with an increase of +322.2%, from $4.8 billion to $15.5 billion. Currently, Solana and Base Blockon-chain are the only places with significant AI agents. At the end of 2024, the Base Block chain significantly captured the market share of Solana and GOAT through projects such as AIXBT and Virtuals Protocol (VIRTUAL). However, Solana has begun to regain some market share after launching GRIFFAIN and AI Rig Complex (ARC) in late December. 5. In the fourth quarter of 2024, the volume rise on the top 10 Ethereum Layer 2 was +48.3%, of which the Base Block chain accounted for 48.3% of the transaction share Ethereum Layer 2 continued to rise in the fourth quarter of 2024, and the daily average volume of the top 10 Layer 2 reached 15 million. Volume rise is mainly produced by Base ...