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Bitcoin Dominance In Crypto Market: 2024 Update


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## The Landscape of Most-Invested Cryptocurrencies in 2024

In the current surge of cryptocurrencies, both established giants and emerging contenders are vying for investor attention amidst market volatility. However, certain digital assets consistently maintain investor interest. Whether you're a seasoned investor or new to the crypto space, understanding the landscape of the most-invested cryptocurrencies in 2024 is crucial for informed decision-making. This comprehensive analysis delves into the statistics behind the top cryptocurrencies of 2024, exploring market capitalization, investment trends, and project functionalities, offering a data-driven roadmap to where smart money is flowing.

### Key Insights

- **Cryptocurrency Landscape**: Despite claims of around 20,000 cryptocurrencies in existence, the vast majority are inactive or discontinued. The creation process for cryptocurrencies is relatively accessible, contributing to this large number. Notably, the top 20 cryptocurrencies constitute nearly 90% of the total market.

- **Market Overview**: As of January 2024, there are approximately 9,024 cryptocurrencies globally. The trading volume across the entire cryptocurrency market peaked at $3 trillion on November 8, 2021, according to Statista.

- **Bitcoin Surge**: Bitcoin's price soared to approximately $69,075.67 as of March 11, 2024, marking a significant first-quarter surge. This period also witnessed booming trends in other cryptocurrency sectors, including Gamefi, Memecoins, and RWAs.

### Most-Invested Cryptocurrencies by Market Cap

Here are the leading cryptocurrencies by market capitalization in 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
- **USDC**: $26.15 billion
- **Cardano (ADA)**: $17.34 billion
- **Avalanche (AVAX)**: $12.92 billion
- **Dogecoin (DOGE)**: $11.45 billion

### Daily Trading Volume Insights

As of March 13, 2024, the cryptocurrency market recorded an estimated $585.20 billion in trading volume over the last 24 hours, representing 6.83% of global assets. Key highlights include:

- **USDT Dominance**: USDT transactions accounted for 71.08% of daily trading volume.
- **BTC/USDT**: The BTC/USDT pair topped centralized exchanges in terms of 24-hour trading volume.
- **USDC/SOL**: On decentralized exchanges, USDC/SOL emerged as the most-traded pair according to Messari data.

### Conclusion

- **Bitcoin Dominance**: Bitcoin continues to dominate as the most-invested cryptocurrency with a market cap of $827.42 billion.
- **Trading Volume**: Tether USDT leads in trading volume, underlining its position as the most-invested stablecoin.
- **Sector Trends**: Dogecoin remains highly popular as the leading meme-coin, boasting a live market cap of $21.8 billion.

As of March 17, 2024, Bitcoin constitutes 49.32% of the total cryptocurrency market value. With 224 cryptocurrency exchanges tracked by CoinMarketCap, Binance stands out as the largest, facilitating over $18 billion in daily crypto trades.

This overview provides a comprehensive snapshot of the cryptocurrency market in 2024, highlighting key players, market dynamics, and trading patterns crucial for investors navigating this evolving landscape.

Screenshot 2024-07-01 094136.png

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