In the fourth quarter of 2024, the total cryptocurrency market capitalization surged by 45.7%, reaching an impressive $3.91 trillion, while average trading volumes skyrocketed by 128.2% to $200.7 billion.

A significant contributor to this growth was Bitcoin, which hit a record high of $108,135 on December 17, 2024, coinciding with the peak market cap.

Centralized exchanges reported a staggering $6.45 trillion in spot trading volume for Q4 2024, marking a 111.7% increase from the previous quarter.

The 2024 Annual Crypto Industry Report provides a comprehensive overview of the market, detailing the performances of Bitcoin and Ethereum, as well as insights into decentralized finance (DeFi) and non-fungible tokens (NFTs).

Bitcoin's market dominance rose to 53.6%, while Ethereum's share fell to 11.8%, its lowest level since April 2021.

Transactions on Ethereum Layer 2 networks saw a notable increase of 48.3% in Q4, with Base accounting for nearly half of these transactions.

In a competitive shift, Solana emerged as the leading chain for decentralized exchange (DEX) trading, capturing over 30% of the market share in Q4 2024.

The market capitalization of AI-related cryptocurrencies skyrocketed by 322.2% in Q4, fueled by new launches and growing interest in AI technologies.

Bitcoin's fourth halving in 2024 marked the beginning of the cryptocurrency market's fourth bull cycle, influenced by macroeconomic factors such as U.S. spot ETF approvals and the re-election of Donald Trump.

Throughout 2024, Bitcoin outperformed major asset classes, with a remarkable price increase of 121.5%, driven by Federal Reserve interest rate cuts and the political landscape.