Crypto Market Surges by $623B in 2024 as Bitcoin Climbs $20K Higher

In just seven months—roughly 236 days—since the year began, the crypto economy has ballooned by a staggering $623 billion. The top crypto asset, bitcoin, has seen its market value soar by more than $20,000, while ethereum, the second-largest by market cap, has climbed over $470 during this period.

Top 10 Crypto Market Climbs From $1.37T to $1.97T

Between Jan. 1, 2024, and Aug. 24, 2024, the crypto market experienced a 36% boost in net value, with $623 billion pouring into the sector during this period. Data reveals that bitcoin (BTC) jumped by $21,364, while ethereum (ETH) gained $473 in value during those months. Meanwhile, tether (USDT) remained the third largest by market cap, with its valuation climbing from $91.70 billion to $117.75 billion.

Binance coin (BNB) started 2024 in fourth place and holds steady in that position today. Back then, BNB was priced at $310.61, and as of now, it’s cruising at $577 per unit. Solana (SOL) also maintained its fifth-place rank, rising from $102 to $159 per SOL since Jan. 1. Currently, USDC stands as the sixth largest crypto asset, with its market cap expanding from $24.47 billion to $34.81 billion.

At the beginning of the year, XRP was in the sixth spot but has now slipped to seventh, with its price unchanged at $0.61 per coin. Dogecoin (DOGE) has moved into the eighth position, which was previously occupied by cardano (ADA). DOGE was trading at $0.089 and is now going for $0.112 per token. The ninth and tenth positions today are held by toncoin (TON) and cardano (ADA), respectively.

Toncoin (TON) made a significant leap from 16th place on Jan. 1, 2024, to the ninth position, solidifying its status among the top ten crypto heavyweights. TON began the year at $2.27 and is now trading at $5.63 per TON. Back then, avalanche (AVAX) was in the tenth spot but has since dropped to 14th. Cardano (ADA) currently holds the tenth-largest market cap, though it has been closely rivaled by tron (TRX) in recent weeks.

TRX was trading at $0.107 per coin in January and has since increased to $0.158. ADA, on the other hand, was priced at $0.598 per ADA and has now dipped to $0.392. Over the past seven months, significant shifts have occurred, with some coins falling out of the top ten rankings. On Jan. 1, the top ten cryptos alone were collectively valued at $1.378 trillion, and today, their combined worth has soared to approximately $1.976 trillion.

As the crypto market matures, the always-evolving coin rankings showcase the sector’s transformations and year-to-date growth. These shifts mirror market participants’ behaviors and highlight the ever-changing nature of the cycle’s hottest digital assets. With emerging contenders climbing the ranks and long-standing players losing ground, the crypto market consistently defies expectations and redefines the future of finance.

What do you think about the crypto market’s rise over the last seven months? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn