$SOL #bnb Driven by strong market sentiment and increasing institutional adoption, according to a recent report from Binance Research. Experts highlighted that the anticipation of favorable policies under a pro-crypto administration, potentially led by Donald Trump, could sustain this positive momentum into January. Regulatory optimism and substantial investment flows played pivotal roles in propelling the market to this historic peak of $3.91 trillion.
Bitcoin led the charge, fueled by MicroStrategy's inclusion in the Nasdaq 100 and a wave of both retail and institutional investments. The leading cryptocurrency soared to an all-time high of $108,000, marking a remarkable market cap growth of approximately 123.4% in 2024. Bitcoin also climbed the ranks of global assets, overtaking silver and Saudi Aramco to secure the position of the seventh-largest asset by market cap. Analysts at Binance Research predict Bitcoin could ascend even further in 2025, cementing its role as a dominant financial instrument worldwide.
On the decentralized finance (DeFi) front, spot and perpetual trading volumes experienced notable growth, reaching $326 billion and $356 billion, respectively, over the past quarter. This surge was largely attributed to increased trading activity in meme coins on Solana and AI tokens on Base. However, not all sectors of the market shared in the bullish momentum. Solana faced challenges, with its total value locked (TVL) declining by 4.5% in November and its on-chain revenue dropping sharply by 90%, from $1.13 million to just $12 million. The platform also recorded a 50% decrease in daily transactions, exacerbated by rising competition from emerging blockchains. Meanwhile, Ripple’s XRP, despite notable developments like its partnership with Archax and the filing of an XRP ETF by WisdomTree, fell by 9.3%, underscoring uneven performance across the broader market.
As for Binance Coin ($BNB ), the asset enjoyed a robust rally due to advancements in blockchain technology and heightened institutional interest. Despite these positive developments, some major cryptocurrencies, including Solana, XRP, and Dogecoin, struggled under the weight of a market-wide sell-off triggered by the Federal Reserve’s aggressive 2025 economic projections.
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