Chinese Financial Researcher: Cryptocurrencies have dramatically changed, with a market capitalization equivalent to 35% of the Chinese stock market.

Deep Tide TechFlow news, on January 5, according to the WeChat public account of the China Financial Forty Forum, Zhong Yi from the China Financial Forty Forum Research Institute wrote (cryptocurrencies have 'changed dramatically'), pointing out that cryptocurrencies have developed to the point of giving rise to at least three different types based on design mechanisms and functions. Private cryptocurrencies can be mainly divided into three categories: Store of Value Cryptocurrencies, Utility Tokens, and Stablecoins.

Category I: Store of Value Cryptocurrencies, with typical representatives like Bitcoin and Litecoin (LTC). Although this type of cryptocurrency was initially designed for peer-to-peer electronic payments, it has increasingly taken on the role of digital value storage.
Category II: Utility Tokens, with typical representatives like Ether (ETH) and Solana (SOL). This category can be further divided into three types: Infrastructure Tokens, Service Tokens, and Finance Tokens.
Category III: Stablecoins, with typical representatives like USDT and USDC, which can be mainly divided into four types: stablecoins pegged to fiat currencies, stablecoins pegged to commodities, cryptocurrency-backed stablecoins, and algorithmic stablecoins.

As of December 28, 2024, the CoinGecko website has tracked 16,022 cryptocurrencies across 1,200 cryptocurrency exchanges worldwide, with a total market capitalization of approximately $3.43 trillion and a trading volume of about $165.3 billion over 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. In early 2014, the total market capitalization of cryptocurrencies was only $10.6 billion, and over the past decade, the cryptocurrency market has achieved over 300 times growth.