The dynamics of the crypto industry have shifted over the past year, impacting several assets, including top-tier projects. An analysis of the market capitalization evolution of leading cryptocurrencies since November 2024 reveals divergent trends: some assets show steady growth, while others face challenges.

Market analytics platform CryptoQuant identified five key cryptocurrencies: Bitcoin (BTC), Ether (ETH), XRP (XRP), Binance Coin (BNB), and Solana (SOL). The stablecoin Tether (USDT) was excluded due to its distinct market capitalization dynamics.

Market Capitalization Evolution

According to CryptoQuant, BNB and XRP witnessed the most significant growth. BNB recently surpassed Solana in market capitalization, reclaiming its position among the top five assets. At the peak, their capitalizations stood at 92billion(BNB)and92billion(BNB)and74 billion (SOL), but later dropped to 86 billion and 64 billion, respectively.

Solana’s market capitalization surged in late 2024 due to the popularity of meme coins within its ecosystem. However, as momentum shifted toward BNB Chain, BNB regained its dominance.

XRP began rising in November 2024 following Donald Trump’s victory in the U.S. presidential election. Optimism about a crypto-friendly administration drove its capitalization from 30billion(November)to30billion(November)to141 billion (March), later correcting to $124 billion.

ETH’s market capitalization fell by 50%, reaching 240 billion in early this month.

Yearly Growth and Circulating Supply

CryptoQuant also assessed year-over-year (YoY) price performance:

• BTC: +25%,

• BNB: +8%,

• XRP: +280%,

• ETH: -43%,

• SOL: -25%.

Circulating supply dynamics:

• SOL: increased from 430 million to 511 million (since January 2024),

• XRP: rose from 54 billion to 58 billion,

• BNB: decreased from 154 million to 145 million due to its deflationary model.

💸💲🧠 Get up to 5020 USDT as a welcome bonus and an additional 1025 USDT by using this referral on  Bybit