Top 10 Crypto Events of 2024

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The year 2024 concluded with a series of pivotal events that reshaped the landscape of the cryptocurrency industry. This was a year marked by turbulence, bringing numerous opportunities alongside significant risks and challenges for investors.

From milestones such as the approval of Bitcoin (BTC) and Ethereum (ETH) ETFs and Bitcoin’s first-ever surpassing of $100,000, to groundbreaking events like Binance’s founder being imprisoned and Donald Trump’s reelection with a proposal to establish a national Bitcoin reserve, the cryptocurrency sector has shown relentless growth, paving new paths for the future.

1. Bitcoin and Ethereum ETFs Approved

After years of anticipation and overcoming numerous hurdles, January 2024 marked a historic moment as the U.S. Securities and Exchange Commission (SEC) officially approved Bitcoin-related ETFs. This milestone not only captured the financial world’s attention but also set new records. By the end of the year, total assets under management (AUM) for 11 Bitcoin ETFs surpassed $100 billion, a remarkable achievement.

Ethereum ETFs, launched later in July, had a slower start. Grayscale, a leading digital asset manager, exerted market pressure with a high management fee of 2%. Despite initial hesitance, the introduction of these ETFs opened significant opportunities for traditional investors to access cryptocurrency without directly holding or managing coins.

ETFs not only increased liquidity but also bolstered confidence in the future of Bitcoin and Ethereum, marking a new maturity phase for the cryptocurrency market.

2. Bitcoin Halving: Supply Reduction, Price Surge

Bitcoin halving events have consistently been pivotal, and 2024 was no exception. In April, mining rewards were halved, leading to a scarcity-driven price surge. Post-halving, Bitcoin saw an impressive growth streak, culminating in an all-time high of $107,000, reaffirming its position as the leading digital asset amidst market fluctuations.

3. Binance Leadership Change: CZ Imprisoned

Binance, the top cryptocurrency exchange, underwent leadership changes as Richard Teng replaced founder Changpeng Zhao (CZ). CZ faced a four-month prison sentence for non-compliance with anti-money laundering measures, resulting in Binance paying a massive $4.32 billion fine, including a personal fine of $50 million for CZ.

The incident triggered a wave of withdrawals, with $1 billion pulled from the exchange in a short period, causing Bitcoin’s price to dip from $37,600 to $35,700. CZ’s release in September, under conditions of internal reforms, highlighted regulatory challenges while reaffirming Binance’s resilience as a global trading giant.

4. Bitcoin Surpasses $100,000 Milestone

On December 5, 2024, Bitcoin made history by surpassing the $100,000 mark, fulfilling long-held investor expectations. This milestone underscored Bitcoin’s maturity and robust position in the global financial system. Factors such as rising institutional demand and progressive policies from major nations played key roles in this growth.

5. Trump Reelected: A National Bitcoin Reserve Plan

In late 2024, Donald Trump’s reelection and his ambitious plan to establish a national Bitcoin reserve sent shockwaves across the globe. Trump’s announcement to integrate Bitcoin into long-term financial strategies signaled a transformative shift in how governments view blockchain technology, opening a bold new chapter for the cryptocurrency market.

6. Meme Coin Resurgence Fueled by Elon Musk

Meme coins like Dogecoin (DOGE) and Pepe (PEPE) saw a resurgence in 2024, driven largely by Elon Musk’s unwavering support. Musk’s frequent mentions of Dogecoin on the X platform (formerly Twitter) and his involvement in related products boosted their popularity.

However, meme coins remain controversial due to concerns about their sustainability. Nonetheless, they continue to attract retail investors drawn to their high potential returns and celebrity endorsements.

7. Solana Shines Amid Meme Coin Boom

Solana emerged as a top-performing blockchain, driven by its fast transactions, low fees, and robust decentralized application ecosystem. With 85% of its Q4 DEX transaction volume tied to meme coins, Solana solidified its status as a leading decentralized trading hub.

Pump.fun, a premier launchpad on Solana, enabled the creation of over 4 million new tokens, with more than 20,000 tokens launched daily. Several meme coins, such as BONK, WIF, and PENGU, achieved billion-dollar market caps after being listed on major exchanges.

8. Ethereum Retains Core Value Amid Challenges

While Bitcoin reached historic highs, Ethereum faced challenges, including reduced ETF inflows and tokenomic changes increasing its supply. Despite these hurdles, Ethereum maintained its dominance in stablecoin issuance and smart contract technology, ensuring its relevance in the blockchain space.

Protocols like EigenLayer and Etherfi offered innovative solutions to Ethereum’s staking liquidity issues, with Etherfi capturing 59% of the restaking market. Yet, questions remain about whether these advancements are enough to retain long-term staker interest.

9. Telegram and TON: Powering Communities with Tap to Earn

Telegram and the TON blockchain ecosystem experienced a surge in popularity through trading bots and Tap to Earn trends. Trading bots on Telegram became lucrative tools, generating $210 million in revenue, while Tap to Earn games like Notcoin and Hamster Kombat attracted millions of users.

Hamster Kombat, in particular, garnered 200 million players and 35 million YouTube subscribers, showcasing the potential of GameFi on TON.

10. AI Meets Crypto: A Powerful Union

2024 saw the explosive growth of AI and blockchain integration. With over $1 billion in investments and market capitalization for AI-related protocols rising from $5 billion to $60 billion, this trend captured widespread attention.

Decentralized model training emerged as a key focus, with projects like Akash and IO.net offering cost-effective GPU resources. Platforms like GenSyn and Prime Intellect optimized AI model training, while Bittensor stood out as a leader with a $3 billion market cap. Its innovative ecosystem fostered collaboration in decentralized AI development.

This synergy also gave birth to powerful AI agents like Zerebro, Luna, AiXBT, and ai16z, transforming sectors ranging from finance to recruitment. Virtuals Protocol gained traction as a platform for building intelligent AI agents, driving a 60x surge in its token value within months.

The fusion of AI and crypto is reshaping industries, promising not just a fleeting trend but a cornerstone of technological advancement, bringing both immense opportunities and formidable challenges.