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Author: Admin | 2025-04-27
The cryptocurrency finished 2024 as the seventh largest global asset by market capitalisation, according to new research. Bitcoin was one of the best-performing assets in 2024, second only to Nvidia, according to new data released by Binance.The firm’s latest research revealed bitcoin experienced a rally surpassing 120 per cent last year, positioning it in seventh place among the world’s largest assets by market capitalisation. You’re out of free articles for this month To continue reading the rest of this article, please log in. The cryptocurrency market capitalisation peaked at a record US$3.91 trillion on 17 December, with bitcoin alone reaching a market capitalisation of over US$2 trillion.“This is a remarkable milestone that is even more impressive considering bitcoin’s relative youth – just over a decade old – compared to other more established asset classes,” said James Quinn-Kumar, director of community engagement for Binance Australia.“Moreover, adoption remains relatively nascent, with bitcoin still in the process of being integrated into traditional investment portfolios.”Bitcoin’s surge in 2024 was fuelled by several key developments, including the approval of spot bitcoin ETFs in the US, favourable monetary policy shifts and expectations of a more supportive regulatory environment in the US following the election of Donald Trump as president.The price of bitcoin slumped on Monday to just under US$90,800 amid inflation concerns, before bouncing back to above US$94,000 on Tuesday.According to analysts, the January slump is not a surprise and is a common occurrence in post-halving years.Looking ahead, bitcoin is expected to extend its bullish trend
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