Chinese Financial Researcher: Cryptocurrencies are no longer what they used to be, with a market capitalization equivalent to 35% of the Chinese stock market.

ChainCatcher news, according to the China Finance 40 Forum WeChat official account, a paper by Zhong Yi from the China Finance 40 Research Institute states (cryptocurrencies are 'no longer what they used to be'), pointing out that the development of cryptocurrencies has now derived at least three types with different characteristics. Based on design mechanisms and functions, private cryptocurrencies can mainly be divided into three categories: Store of Value Cryptocurrencies, Utility Tokens, and Stablecoins.

As of December 28, 2024, CoinGecko has recorded 16,022 cryptocurrencies across 1,200 cryptocurrency exchanges worldwide. The total market capitalization of all cryptocurrencies is approximately $3.43 trillion, with a trading volume of about $165.3 billion in the past 24 hours. In relative scale, this market capitalization is equivalent to 5% of the total market capitalization of the U.S. stock market and 35% of the Chinese stock market. At the beginning of 2014, the total market capitalization of cryptocurrencies worldwide was only $10.6 billion, and over the past decade, the cryptocurrency market has achieved over 300 times growth.