Chinese financial researchers: Cryptocurrencies are no longer what they used to be, with a market value equivalent to 35% of the Chinese stock market
According to ChainCatcher news, in an article by Zhong Yi from the China Financial Forty Forum, titled "Cryptocurrency is 'Not What It Used to Be'", it points out that the development of cryptocurrency has now given rise to at least three different types with distinct characteristics. Based on their design mechanisms and functions, private cryptocurrencies can be mainly divided into three categories: Store of Value Cryptocurrencies, Utility Tokens, and Stablecoins.As of December 28, 2024, the CoinGecko website has recorded 16,022 types of cryptocurrencies across 1,200 exchanges worldwide, with a total market capitalization of approximately $3.43 trillion and a trading volume of about $165.3 billion in the past 24 hours. In relative terms, this market capitalization is equivalent to 5% of the total market capitalization of the U.S. stock market and 35% of the Chinese stock market. In early 2014, the total market capitalization of cryptocurrencies was only $10.6 billion, and over the past ten years, the cryptocurrency market has achieved more than 300 times growth.