Template-Type: ReDIF-Paper 1.0
Author-Name: Shilov Kirill
Author-Name-First: Shilov
Author-Name-Last: Kirill
Author-Workplace-Name: Gaidar Institute for Economic Policy
Author-Name: Zubarev Andrei
Author-Name-First: Zubarev
Author-Name-Last: Andrei
Author-Workplace-Name: Gaidar Institute for Economic Policy
Title: Trends in the cryptocurrency market
Abstract: 2024 turned out to be one of the most significant years for the cryptocurrency market. The capitalization of the entire market reached its new highs in 2024 at $3.71 trillion in December, surpassing the peak of August 2022, when the crypto market was valued at $2.8 trillion. In 2024, Bitcoin was the main market driver, whose capitalization grew by more than 133% over the year, exceeding the $2 trillion mark, while the capitalization of the second largest cryptocurrency Ether increased by 57% (to $440 bn), stablecoins by 49% (to $200 bn), and all other altcoins together by 127.5% (to $830 bn). Bitcoin’s share of total market capitalization continues its gradual growth for the second year running: while in 2023 Bitcoin’s share of market capitalization averaged 47.3%, in 2024 it is already 54.8%. In price terms, Bitcoin in December exceeded the “psychological” mark of $100,000.
Classification-JEL: G18, G23, K24, L86
Keywords: Cryptocurrency market, Bitcoin, ETF, Altcoins
Creation-Date: 2025
Revision-Date: 2025
Length: 12 pages
File-URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2025-1422.pdf
File-Format: application/pdf
File-Function: Revised Version, 2025
Handle: RePEc:gai:ppaper:ppaper-2025-1422