As the sun sets on 2024, the crypto world has had a year that could rival any soap opera—complete with unexpected twists, dramatic highs, and the occasional romantic subplot.
Let’s take a stroll down this crypto memory lane, shall we?
Key 2024 Crypto Highlights
Bitcoin ETFs: The Overachievers of Wall Street
Remember when analysts predicted Bitcoin ETFs would attract a modest $10 billion? Well, they blew past that, amassing over $38 billion in net inflows. It’s as if Bitcoin looked at traditional finance and said, “Hold 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 onslaught of capital took Bitcoin to dizzying new heights, with prices soaring to over $100,000. Predictions from such analysts, including Bitwise today, indicate that prices could rise to $200,000 with the potential adoption of a strategic Bitcoin reserve by the US government.
Memecoins: Because Why Should Cats Have All the Fun?
While Bitcoin basked in institutional glory, the memecoin market embraced its own brand of chaos. $WIF, a memecoin that began as an internet joke, skyrocketed to a market capitalization exceeding $4 billion within months.
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Platforms like Pump.Fun capitalized on this frenzy, generating up to $93 million in monthly revenue, largely through their eccentric livestream features.
The memecoin hype was not just people seeking to get rich quicker; it wedded itself to the internet’s chaotic characteristics.
The insane story of an AI chatbot that became a memecoin millionaire only amplified what had become an increasingly feverish trend on the market.
Regulatory Shake-Up: Gensler Bids Adieu
In a move that left the crypto community both shocked and hopeful, SEC Chair Gary Gensler announced his exit from the SEC effective January 20..
Under Gary Gensler’s reign as SEC chairman, stringent crypto regulations have been seen, widely viewed as obscuring the American crypto landscape. His departure has sparked optimism for clearer regulatory guidelines.
The anticipated appointment of crypto advocate Paul Atkins as his successor suggests a potential shift towards more crypto-friendly policies, which could further bolster market confidence.
Could this be the dawn 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 got into legal troubles, spent some time in jail and came back to business. In May 2024, he was imprisoned for 4 months for negligence of AML regulation on his platform, which bred unlawful business activities.
Also, in November of 2024, FTX sued Binance and CZ to recover up to $1.8 billion. The allegations are that a 2021 share repurchase offer was fraudulent, and that CZ’s activities led to the FTX failure.
However, CZ easily rejoined the crypto space after completing his jail term, willing to again sail through the stormy sea of the crypto market, but not as Binance CEO.
Bitcoin Halving: Because Good Things Come in Smaller Packages
April’s Bitcoin halving event cut the daily supply in half, leading to increased scarcity and, surprise, a bull run. 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 Ethena Labs launching a rapidly growing stablecoin.
But the real headline? Ethereum co-founder Vitalik Buterin made headlines with his personal life.
The crypto community buzzed with news of Buterin finding a girlfriend, adding a human touch to a year dominated by financial and technological milestones.
While some may dismiss this as trivial, it underscores the maturation of the crypto space, where leading figures are no longer just enigmatic coders but public personalities with relatable lives.
Financial giant Stripe made waves by acquiring three years old Bridge for a cool $1.1 billion, marking the largest crypto acquisition to date.
In perhaps the most unexpected twist, Dogecoin transitioned from internet joke to government agency. Yes, you read that right. The coin that started as a meme is now all grown up and wearing a suit.
Helium teamed up with AT&T to integrate web2 users into the web3 ecosystem. The punchline? It actually worked.
TikTok’s viral trends propelled CHILLGUY to record-breaking 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 all-time highs. Timing is everything, folks.
As we bid adieu to 2024, one thing is clear: the crypto world continues to be a rollercoaster of innovation, unpredictability, and the occasional love story. Here’s to whatever wild ride 2025 has in store.
