WASHINGTON (dpa-AFX) - 2024 was undoubtedly a remarkable year for cryptocurrencies. The much-awaited SEC approval for Bitcoin Spot ETF products propelled cryptocurrencies to a higher orbit in the beginning of 2024. The resounding victory for crypto-friendly Donald Trump in the U.S. presidential elections lifted digital assets to a higher realm towards the fag end of the year. The Fed's monetary policy pivot that resulted in a cumulative easing of 100 basis points in 2024 reduced the opportunity cost of holding non-interest-bearing assets, bolstering crypto market sentiment further in 2024.
Overall crypto market capitalization which was close to $1.65 trillion at the beginning of 2024 is currently near $3.3 trillion.
Among the top 10 non-stablecoin cryptocurrencies, 9 are trading with gains in 2024. 7th ranked Dogecoin (DOGE) tops gains with a surge of 262 percent. Avalanche (AVAX) ranked 11th overall, lags with a loss of 4.7 percent.
Among the top 25 non-stablecoin cryptocurrencies, 22 are trading with gains in 2024 whereas three are trading with year-to date losses. 22nd ranked Pepe (PEPE) tops gains with a surge of more than 1523 percent in 2024. 18th ranked Polkadot (DOT) is the greatest laggard with a decline of 16.5 percent in 2024.
Among the top 100 cryptocurrencies, only less than 40 percent are trading in the red on a year-to-date basis. 35th ranked Virtuals Protocol (VIRTUAL) topped with a year-to-date surge of 28811 percent. 55th ranked Celestia (TIA) that has slipped more than 59 percent in 2024 is the biggest loser in the category.
Bitcoin (BTC), the leading cryptocurrency with a market dominance of 57.3 percent has gained 126.6 percent year-to-date in 2024. It is currently trading at $95,788.40, around 12 percent below the all-time high implying overnight gains of 2.9 percent. BTC traded between $108,268.45 and $38,521.89 in the past 52 weeks.
Ethereum (ETH), with a market share of 12.5 percent rallied more than 50 percent year-to-date in 2024. ETH is currently trading at $3,427.50, around 30 percent below the leading altcoin's all-time high. Ether traded between $4,106.96 and $2,113.93 in the past 52 weeks.
4th ranked XRP (XRP) has surged more than 245 percent in 2024. At its current price of $2.13, the cryptocurrency issued by Ripple Labs is trading around 45 percent below the all-time high touched in January 2018. XRP traded between $0.3911 and $2.86 over the course of the past 52 weeks.
5th ranked BNB (BNB) gained more than 127 percent in 2024 at its current trading price of $710.31. BNB is currently trading 10 percent below the all-time high touched on December 4. The cryptocurrency's 52-week trading range was between $287.73 and $793.35.
6th ranked Solana (SOL) rallied more than 92 percent in 2024 after ranging between $79.07 and $263.83 over the 52-week period. SOL is currently trading at $195.34, around 26 percent below its record high on November 23, 2024.
7th ranked Dogecoin (DOGE) surged 262 percent in 2024. The top-ranked meme coin ranged between $0.07497 and $0.4835 over the past year. erased 3.6 percent overnight to trade at $0.3135. DOGE is currently trading at $0.3241, around 57 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) has rallied close to 46 percent in 2024. ADA is currently trading at $0.8675, around 72 percent below the record high touched in September 2021. The cryptocurrency traded between $0.2799 and $1.32 over the past 52 weeks.
10th ranked TRON (TRX) added almost 138 percent in 2024 to trade at $ 0.2563. The trading price is 42 percent below the cryptocurrency's all-time high recorded on December 4. TRX oscillated between $0.1014 and $0.4407 over the past 52 weeks.
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