Quarterly Mark December 2023 - 57

EXHIBIT 11
Crypto Market Cap Growth and New Crypto Introductions Market Capitalization of Cryptocurrencies
$10,000
Bitcoin Cash
$1,000
Binance Coin
$100
Tether
Dogecoin
Ethereum
$10
$1
XRP (Ripple) launched June 2012
Litecoin launched October 2011
Bitcoin launched January 2009
$0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
NOTES: The market capitalization includes the data of 22,357 cryptocurrencies that CoinMarketCap tracks. Additional coins exist, but
their market capitalization is likely to be tiny. Survivorship bias may be present as the methodology of coin tracking may shift and
reconstitute the available coin history.
SOURCES: CoinMarketCap.com and Macrobond, as of January 12, 2023.
Comparing Market Cap
Cryptocurrencies: $880.0b
US Equities: $46.4 trillion
EXHIBIT 12
Top Cryptocurrency Types by Market Capitalization
Bitcoin
39.6% of Crypto Universe*
Stores of Value†
Seek to offer methods of
storing value securely through
a crypto. But their values are
quite volatile.
Top Contenders:
1. Bitcoin (39.61%)
2. Litecoin (0.68%)
Software Platforms
Act like a decentralized
computer, with programs
stored on and executed by
blockchains.
Top Contenders:
1. Ethereum (19.26%)
2. Cardano (1.27%)
3. Solana (0.67%)
Other
Stores
of Value†
2.1%
Other
Ethereum
19.3%
Stablecoins
Sidestep the store-of-value
debate by pegging their value
to an underlying asset such
as the US dollar.
Top Contenders:
1. Tether (7.53%)
2. USD Coin (5.00%)
3. Binance USD (1.85%)
Software
Cryptos
6.3%
Stablecoins
15.5%
Payments-Focused
Focus on scalability for the
sake of rapid payments.
Often run or created by
a business.
Top Contenders:
1. BNB (5.12%)
2. XRP (2.11%)
All Others
8.2%
Memecoins
Born out of their namesake,
perhaps the easiest cryptos
to criticize for lacking
a key value proposition.
Top Contenders:
1. Dogecoin (1.17%)
2. Shiba Inu (0.57%)
NOTES: *Market Share indicates the relative share of the market capitalization of the cryptocurrency universe, including both coins and
tokens. †As discussed in this article, the claim that any of these cryptos is a store of value is a dubious one with numerous considerations.
SOURCES: CoinDesk, CoinMarketCap.com, Coin.Dance, and Invesco as of January 12, 2023. Cryptocurrency count is sourced from CoinMarketCap
and CoinGecko.
PaymentsFocused
7.8%
1.7%
Quarterly
Mark | 57
Billions, USD

http://CoinMarketCap.com http://CoinMarketCap.com

Quarterly Mark December 2023

Table of Contents for the Digital Edition of Quarterly Mark December 2023

Quarterly Mark December 2023 - Cover
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Quarterly Mark December 2023 - Back Cover
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