Trends in the cryptocurrency market

Shilov Kirill and Zubarev Andrei
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Shilov Kirill: Gaidar Institute for Economic Policy
Zubarev Andrei: Gaidar Institute for Economic Policy

Published Papers from Gaidar Institute for Economic Policy

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.

Keywords: Cryptocurrency market; Bitcoin; ETF; Altcoins (search for similar items in EconPapers)
JEL-codes: G18 G23 K24 L86 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2025, Revised 2025
New Economics Papers: this item is included in nep-pay
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https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2025-1422.pdf Revised Version, 2025 (application/pdf)

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