The post Coingecko: Crypto market cap nearly doubled in 2024, BTC dominance cemented appeared on BitcoinEthereumNews.com.

The crypto data firm CoinGecko published its 2024 annual crypto industry report on January 15. The report reflected on major events experienced in the crypto markets last year and pointed out metrics, including the industry’s entry into the fourth crypto market bull cycle, the total crypto market capitalization, spot trading volumes, DEX volumes, and BTC dominance.   The report highlighted the beginning of the fourth crypto bull cycle, which began around March 2024. CoinGecko mentioned the approval of the U.S.-based Bitcoin and Ether spot ETFs by the U.S. Securities and Exchange Commission in January and May, respectively. The report also highlighted the April BTC halving, which reduced mining rewards to 3.125 BTC.  The report also pointed out other policy changes that fueled the market’s momentum, especially during the last quarter of 2024. CoinGecko explained that President Donald Trump’s presidency was a major trigger for crypto’s new highs at the end of the year, including BTC’s new all-time high of over $108,000.  The report further noted the multiple rate cuts initiated by the Federal Reserve since September 18. The Fed initiated 3 interest rate cuts in 2024, with the September 18 rate cut at 50 basis points and the November and December rate cuts at 25 basis points each.  Coingecko report outlines market cap and BTC dominance 🚨 BREAKING 🚨 CRYPTO MARKET HAVE ADDED $1.58 TRILLION IN 2024. THE LARGEST INFLOW SO FAR 🔥 pic.twitter.com/lTkF1GMDnX — Ash Crypto (@Ashcryptoreal) January 1, 2025 The CoinGecko 2024 annual report revealed that the total crypto market capitalization doubled in 2024, reaching $3.9 trillion at the end of the year. The report highlighted that the rise was over 97% higher than 2023’s $1.09 trillion. The amount was also about 45% more in Q4 compared to Q3. The total crypto market has since corrected, standing at $3.46…

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Filed under: News - @ January 15, 2025 11:27 pm