As the sun sets on 2024, the crypto world has had a year that could rival any soap opera – complete with unexpected twists, dramatic climaxes and the occasional romantic subplot.
Let’s take a walk down this crypto memory lane, shall we?
Key Crypto Highlights for 2024
Bitcoin ETFs: Overachievers of Wall Street
Remember when analysts predicted that Bitcoin ETFs would attract a modest $10 billion? Well, they skipped that, raising over $38 billion in net inflows. It’s like Bitcoin looked at traditional finance and said, “Wait for my beer.”
Leading the pack was IBIT with $37.31 billion in net inflows, while FBTC had $11.84 billion and ARKB $2.49 billion.
This rush of capital drove Bitcoin to dizzying heights, with prices soaring to over $100,000. Predictions by such analysts, including Bitwise today, indicate that prices could rise to $200,000 with the potential adoption of the strategic Bitcoin reserve by the US government.
Memecoins: Because why should cats have fun?
While Bitcoin basked in institutional glory, the memecoin market embraced its own kind of chaos. $WIF, a memecoin that started as an internet joke, has soared to a market capitalization exceeding $4 billion in a matter of months.
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Platforms like Pump.Fun have capitalized on this craze, generating up to $93 million in monthly revenue, mostly through their eccentric livestream features.
The memecoin hype wasn’t just people looking to get rich quick; he favored the chaotic characteristics of the Internet.
The insane story of an AI chatbot becoming a memecoin millionaire only reinforced what has become an increasingly feverish trend in the market.
Regulatory earthquake: Gensler bids farewell
In a move that left the crypto community both shocked and hopeful, SEC Chairman Gary Gensler announced his departure from the SEC effective January 20th.
Gary Gensler’s reign as SEC chairman has seen strict crypto regulations, which many consider clouding the US crypto landscape. His departure fueled optimism for clearer regulatory guidance.
The anticipated appointment of crypto-advocate Paul Atkins as his successor suggests a potential shift toward more crypto-friendly policies, which could further boost market confidence.
Could this be the start of a new regulatory era or just the SEC’s version of “The Office” losing Michael Scott?
CZ’s legal adventure: Orange is the new black
Binance CEO Changpeng Zhao once ran into legal trouble, spent some time in jail, and returned to work. In May 2024, he was sentenced to 4 months in prison for disregarding anti-money laundering regulations on his platform, which led to illegal business activities.
Also, in November 2024, FTX sued Binance and CZ to recover up to $1.8 billion. The allegations are that the 2021 share repurchase offer was fraudulent and that CZ’s activities led to FTX’s failure.
However, CZ easily rejoined the crypto space after serving his prison sentence, ready to once again sail the stormy seas of the crypto market, but not as the CEO of Binance.
Bitcoin Halving: Because good things come in smaller packages
Bitcoin’s halving event in April cut the daily supply in half, leading to increased scarcity and, surprise, a rally. It’s Economics 101: less supply + more demand = happy investors.
Notable mentions
Ethereum: Upgrades, Stablecoins and… Romance?
Ethereum had a busy year, completing the Dencun upgrade and Athena Labs launching a fast-growing stablecoin.
But the real title? Ethereum co-founder Vitalik Buterin has made headlines for his personal life.
The crypto community was buzzing with the news that Buterin had found a girlfriend, adding a human touch to a year dominated by financial and technological milestones.
While some might dismiss this as trivial, it highlights the maturing of the crypto space, where leading figures are no longer just enigmatic coders, but public figures with relatable lives.
Financial giant Stripe made waves by buying three-year-old Bridge for a cool $1.1 billion, the largest cryptocurrency acquisition to date.
In perhaps the most unexpected twist, Dogecoin has gone from an internet joke to a government agency. Yes, you read that right. The coin that started as a meme is now all grown up and wearing a suit.
Helium has partnered with AT&T to integrate web2 users into the web3 ecosystem. Main point? It actually worked.
TikTok’s viral trends have propelled CHILLGUY to record adoption rates, proving that the platform’s influence extends beyond dance challenges and questionable life hacks.
Well, Germany sold its Bitcoin holdings just before prices hit an all-time high. Timing is everything, folks.
As we say goodbye to 2024, one thing is clear: the crypto world continues to be a roller coaster of innovation, unpredictability and the occasional love story. Here’s everything Wild Ride 2025 has in store.
