Top 20 Cryptocurrencies by Market Capitalization
The cryptocurrency market closed 2024 with Bitcoin maintaining its dominant position. Below is the detailed ranking of the top 20 cryptocurrencies as of 31 December 2024:
| Rank | Name | Symbol | Market Cap | Price | Circulating Supply | Volume (24h) | % 1h | % 24h | % 7d |
|------|------|--------|------------|-------|-------------------|--------------|------|-------|------|
| 1 | Bitcoin | BTC | $1.85T | $93,429.20 | 19.8M BTC | $43.63B | 0.20% | 0.85% | -5.32% |
| 2 | Ethereum | ETH | $401.48B | $3,332.53 | 120.5M ETH | $20.85B | 0.11% | -0.71% | -4.57% |
| 3 | Tether USDt | USDT | $137.18B | $0.9981 | 137.4B USDT | $91.82B | <0.01% | <0.01% | -0.12% |
| 4 | XRP | XRP | $119.42B | $2.0801 | 57.4B XRP | $4.73B | 0.20% | 1.10% | -10.52% |
| 5 | BNB | BNB | $100.95B | $700.99 | 144.0M BNB | $2.37B | 0.19% | -0.45% | 0.61% |
| 6 | Solana | SOL | $91.38B | $189.26 | 482.8M SOL | $3.28B | -0.70% | -0.92% | -3.92% |
| 7 | Dogecoin | DOGE | $46.54B | $0.3157 | 147.4B DOGE | $2.20B | 0.09% | 0.69% | -6.31% |
| 8 | USDC | USDC | $43.94B | $0.9999 | 43.9B USDC | $6.54B | 0.01% | 0.01% | 0.00% |
| 9 | Cardano | ADA | $29.65B | $0.8438 | 35.1B ADA | $677.1M | -0.07% | -1.89% | -9.90% |
| 10 | TRON | TRX | $21.91B | $0.2542 | 86.2B TRX | $591.5M | -0.02% | 0.49% | -0.83% |
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Market Trends and Analysis
Bitcoin Dominance
Bitcoin’s market cap surpassed $1.85 trillion, accounting for nearly 40% of the total crypto market. Institutional adoption and ETF approvals contributed to its steady growth.
Ethereum’s Stability
Ethereum maintained its position as the leading altcoin, with DeFi and NFT ecosystems driving demand. The transition to Ethereum 2.0 improved scalability, attracting more developers.
Stablecoin Utility
Tether (USDT) and USDC remained critical for trading liquidity, with USDT’s 24-hour volume exceeding $90 billion. Their stability makes them preferred instruments for hedging against volatility.
Emerging Performers
- Solana (SOL) retained its top-10 rank due to low fees and high-speed transactions.
- Toncoin (TON) gained traction through Telegram’s integration, climbing to #12.
Key Observations
- Market Sentiment: Positive despite minor corrections in major assets.
- Institutional Interest: Bitcoin and Ethereum ETFs saw record inflows.
- Regulatory Developments: Clearer frameworks boosted investor confidence.
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FAQ
1. Why is Bitcoin’s price so high?
Bitcoin’s scarcity (21M cap) and institutional adoption (ETFs, corporate treasuries) drive demand.
2. How does Ethereum differ from Bitcoin?
Ethereum supports smart contracts and decentralized apps, while Bitcoin is primarily a store of value.
3. Are stablecoins safe?
Stablecoins like USDT/USDC are pegged to fiat currencies but require transparency about reserves.
4. Which altcoins have growth potential?
Solana, Toncoin, and Cardano are favored for their technological use cases.
5. What affects crypto prices?
Supply-demand dynamics, regulations, macroeconomic trends, and technological upgrades.
This snapshot reflects the crypto market’s resilience and innovation as it enters 2025. For deeper insights, leverage tools like 👉 OKX’s market analytics.