As the year comes to a close, it’s clear that 2024 was a game-changer for the cryptocurrency industry. The approval of spot bitcoin ETFs from top institutions marked a significant milestone, paving the way for mass adoption. The fourth Bitcoin Halving in April further accelerated this process, with options contracts going live on spot bitcoin ETFs.
The success of bitcoin was not the only story of 2024. Key infrastructural upgrades and cutting-edge innovations across Layer-2s, Real-World Assets (RWAs), and Crypto AI also made headlines. Stablecoins, a key player in digital assets, saw a massive surge in new issuers and market cap, exceeding $130 billion.
The rise of memecoins was another notable trend, with the industry growing to a staggering $130 billion. Memecoins captured the spirit of the internet, providing a sense of community and belonging for users. Experts believe that memecoins are not just speculative assets but also create novel wealth-generating opportunities through their virality.
Institutional investors are also taking notice, with retail investors gaining more access to crypto finance. Proponents argue that this shift will lead to a more inclusive and equitable industry, where power is distributed among all stakeholders.
While there may be some controversy surrounding memecoins, it’s clear that 2024 was a breakthrough year for the cryptocurrency industry. With the convergence of bitcoin, infrastructure investment, institutional liquidity, and memecoins, it appears that everyone is a winner in this space.
The data speaks for itself: 220 million wallet addresses interacted with a blockchain at least once in September, setting a new record high. The surge in on-chain interactions has been driven by Solana, NEAR, and Base, leading the list of chains with builder interest.
As we look to the future, it’s clear that the cryptocurrency industry is on the cusp of a major transformation. With the continued growth of infrastructure, AI, and memecoins, it will be exciting to see how this space evolves in 2025 and beyond.
Source: https://www.forbes.com/sites/lawrencewintermeyer/2024/12/31/2024-the-year-of-crypto-from-bitcoin-etfs-to-memecoins