Binance Research: The crypto market soared to a record high of $3.91 trillion in December and then fell back, with BTC rising by more than 123% for the year

PANews reported on January 6 that according to the "January 2025 Market Insights" report released by Binance Research, the market value of the crypto market soared to a record high of US$3.91 trillion in December 2024, driven by regulatory optimism, institutional adoption and Bitcoin's record high Pushed by all-time high ($108,000). However, as the Federal Reserve scaled back its interest rate cut plan from four to two in 2025, the market corrected at the end of December and more than $0.5 trillion in market value was wiped out.

Bitcoin's market value increased by approximately 123.4% throughout the year, becoming the seventh largest asset in the world, surpassing Saudi Aramco and silver, and second only to Nvidia's performance. Key drivers include spot ETF approvals, Bitcoin halving, monetary policy changes, and expectations of more crypto-friendly regulation.

In addition, Ethena’s USDe market capitalization has reached US$5.9 billion, surpassing DAI to become the third largest stablecoin, thanks to its high yield and application as Aave collateral. Decentralized spot and perpetual contract trading volumes reached record highs of US$326 billion and US$356 billion respectively in December, while decentralized perpetual trading volume grew by over 370% throughout the year, mainly driven by Hyperliquid.

TVL in the DeFi field also reached a new high, with lending protocols and liquid pledge protocols reaching US$55 billion and US$71 billion respectively. AI agents have gradually become an emerging hot spot in the encryption field. The market value of related tokens has reached billions of dollars, with an average daily exposure of about 100,000 times. Representative projects include Virtuals and ai16z’s Eliza framework, as well as individual agents aixbt, etc.