Bitcoin Outperformed Major Asset Classes in 2024, CoinGecko Report Finds

The cryptocurrency industry experienced remarkable growth in 2024. The total market capitalization of cryptocurrencies nearly doubled, reaching an all-time high of $3.91 trillion. Bitcoin (BTC) solidified its position, capturing 53.6% of this market share.

Bitcoin's Performance

Bitcoin achieved an impressive +121.5% annual return. Notably, after its fourth halving in 2024, Bitcoin's price surged past $100,000, culminating in a record high of $108,135 on December 9, before closing the year at $93,508.

Market Growth

The Q4 findings highlight a 45.7% quarter-on-quarter increase in total market capitalization, propelled by rising trading volumes and investor interest due to macroeconomic shifts and geopolitical events, including the approval of US spot Bitcoin ETFs and changing central bank rates.

AI Sector Growth

Interestingly, the report also noted that the market cap of AI agents within the crypto sector grew by 322.2% in Q4, highlighting a significant trend in crypto's utility beyond mere speculation.

Conclusion

2024 marked a transformative year for Bitcoin and the broader cryptocurrency landscape, with renewed investor confidence and a burgeoning interest in technology integration.