2025’s opening months have been quite tumultuous for the cryptocurrency market. Amid all the fluctuations and shifting opinions, XRP is the only alternative coin that has witnessed significant investment, amassing approximately $5.7 million as per the latest report by CoinShares.
2024 ended on a turbulent note, with global digital asset investments peaking at an all-time high of $44.2 billion. However, the last two trading days before the New Year saw a net outflow of $75 million, indicating that investors were adopting a more cautious approach towards the end of the year.
Contrarily, XRP performed exceptionally well. In just one year, 2024, investment products centered around XRP attracted an impressive $438 million, marking a significant surge of 2,433% compared to the preceding year.
A significant portion of the growth can be linked to the advancements made by XRP during its ongoing legal dispute with the SEC concerning Ripple. These developments have been instrumental in solidifying XRP’s standing as a non-security within the cryptocurrency market.
Additionally, at the close of 2024, the value of XRP increased dramatically by nearly 500%. This surge was partially due to speculation about potential alterations in U.S. regulations, particularly since Gary Gensler was stepping down from his role as SEC chair on January 20th. With a change in leadership, there is an opportunity for XRP’s market standing to experience additional growth.
Overall, Bitcoin remained the dominant force in 2024, receiving approximately $38 billion in investments, representing around 29% of the total managed assets. Interestingly, Ethereum made a significant recovery towards the end of the year, attracting about $4.8 billion worth of investments.
However, other digital currencies besides Ethereum (ETH) didn’t perform as strongly. These altcoins accounted for only 18% ($813 million) of the total assets managed, which is a relatively small portion compared to the whole.
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2025-01-06 17:06