In the ever-evolving world of cryptocurrencies, a mix of established giants and rising stars is capturing the attention of investors. Amidst the volatility, certain digital assets consistently hold investor interest. Whether you’re a seasoned investor or just starting your crypto journey, understanding the most-invested cryptocurrencies in 2024 is crucial for making informed decisions. This in-depth analysis delves into the statistics behind the most-invested cryptocurrencies in early 2024. We’ll explore market capitalization, investment trends, and project functionalities, providing a data-driven roadmap to understand where the smart money is flowing.
Key Takeaways
- Despite the existence of roughly 20,000 cryptocurrencies, most are inactive or discontinued. The top 20 cryptocurrencies make up nearly 90% of the total market.
- As of January 2024, there are a total of 9,024 active cryptocurrencies worldwide.
- Trading volume in the entire cryptocurrency market peaked at $3 trillion on November 8, 2021.
- Bitcoin prices surged to $69,075.67 as of March 11, 2024, driven by trends such as GameFi, Memecoin, and RWAs.
Most-Invested Cryptocurrencies by Market Cap
Here are the leading cryptocurrencies by market capitalization as of early 2024:
- Bitcoin (BTC): $827.42 billion
- Ethereum (ETH): $272.32 billion
- Tether (USDT): $96.02 billion
- Binance Coin (BNB): $46.05 billion
- Solana (SOL): $42.23 billion
- Ripple (XRP): $28.58 billion
- USD Coin (USDC): $26.15 billion
- Cardano (ADA): $17.34 billion
- Avalanche (AVAX): $12.92 billion
- Dogecoin (DOGE): $11.45 billion
- TRON (TRX): $10.02 billion
- Polkadot (DOT): $8.82 billion
- Chainlink (LINK): $8.28 billion
- Polygon (MATIC): $7.58 billion
- Toncoin (TON): $7.35 billion
Key Findings
- Bitcoin remains the dominant cryptocurrency, with a market cap of $827.42 billion, making up 49.32% of the total value of the crypto market.
- Polkadot (DOT) stands out in the middle-cap category with a market cap of $8.82 billion.
- Axie Infinity (AXS) is the most-invested low-cap coin with a market cap of $1 billion.
Most-Invested Cryptocurrencies by Daily Volume
As of March 13, 2024, the cryptocurrency market saw an estimated $585.20 billion worth of trading volume in the last 24 hours, which accounts for 6.83% of the world’s assets. Tether (USDT) transactions alone made up 71.08% of the daily trading volume.
Most-Traded Crypto Pairs by Exchanges
Centralized Exchanges (CEX)
- BTC/USDT is the highest 24-hour trading volume pair on centralized exchanges, reflecting significant investor activity and liquidity.
Decentralized Exchanges (DEX)
- USDC/SOL is the most-traded pair on decentralized exchanges, highlighting the growing importance of decentralized finance (DeFi) platforms.
Bottom Lines
- Bitcoin remains the most-invested cryptocurrency by market cap.
- Tether (USDT) tops the rankings for having the highest trading volume.
- USDT is the most-invested stablecoin.
- Dogecoin is the most popular meme-coin with a live market cap of $21.8 billion.
- As of March 17, 2024, Bitcoin constitutes 49.32% of the total value of the crypto market.
- Binance is the largest cryptocurrency exchange by trading volume, with over $18 billion worth of crypto traded daily.
References
For a comprehensive understanding of the data and more in-depth analysis, you can refer to the following sources:
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