The 8 Greatest Crypto Tales of 2024: A 12 months of Milestones and Market Shifts

• A number of occasions outlined 2024, together with the SEC’s approval of Bitcoin spot ETFs.
• Additionally, Bitcoin hits $100K, fueled by shortage from the halving and institutional inflows.
• XRP experiences a meteoric rise, whereas AI brokers revolutionize Web3 with autonomous operations.

Crypto traits in 2024 mirrored breakthroughs, controversies, and game-changing occasions. From Bitcoin’s historic $100K milestone to the rise of AI in Web3, this yr has delivered transformative moments for the trade. Under is a recap of the largest tales in crypto for 2024.

SEC Approves Bitcoin Spot ETFs

The SEC’s approval of Bitcoin spot ETFs in January 2024 marked a turning level for crypto adoption. After years of rejections, main gamers like BlackRock and Constancy launched regulated ETFs, providing conventional traders easy accessibility to Bitcoin.

Throughout the first yr, Bitcoin spot ETFs amassed over 1.1 million BTC, with internet property totaling $106.24 billion earlier than their first anniversary.

Mysterious $1.2M Despatched to Satoshi Nakamoto’s Pockets

In the meantime, in January, an unidentified particular person despatched 26.9 Bitcoin price roughly $1.19 million on the time to Bitcoin’s Genesis pockets, the very first handle ever created by Bitcoin’s pseudonymous creator, Satoshi Nakamoto. 

The mysterious transaction despatched shockwaves by way of Crypto Twitter, with many questioning whether or not Satoshi had returned or if the cash had been merely being burned.

“Both Satoshi awakened, purchased 27 bitcoin from Binance, and deposited it into their pockets, or somebody simply burned one million {dollars},” Coinbase’s Conor Grogan mentioned.

Sam Bankman-Fried Sentenced to 25 Years

Sam Bankman-Fried, the founding father of the failed FTX alternate, was sentenced to 25 years in March 2024 for his function within the firm’s collapse. Along with jail time, Bankman-Fried was ordered to pay $11 billion in restitution.

Bitcoin’s 4th Halving Sparks Market Motion

April introduced Bitcoin’s fourth halving, lowering miner rewards from 6.25 BTC to three.125 BTC per block. The halving launched a provide shock, which traditionally results in value rallies. Bitcoin’s $100K milestone later within the yr demonstrated the lasting influence of this occasion.

AI Brokers Redefine Web3

Additionally, 2024 has seen the fast rise of AI brokers within the Web3 house. Autonomous AI brokers now handle sensible contracts, optimize dApps, and function decentralized organizations.

Notably, Terminal of Truths (ToT), created in Could 2024 by Andy Ayrey, emerged as the primary AI millionaire. For context, Marc Andreessen funded ToT in July with a $50,000 grant to reinforce its mannequin. 

By October, the GOAT meme coin was launched and endorsed by ToT, inflicting its worth to soar, reaching a market cap of over $950 million. Because of this, ToT grew to become the primary AI millionaire, receiving a big quantity of GOAT tokens, which surged by over 743% in simply 4 weeks.

Professional-Bitcoin President Trump Re-Elected

Within the November U.S. presidential election, Donald Trump gained re-election, together with his pro-Bitcoin stance taking part in a key function in his victory. Trump’s guarantees to help crypto innovation and set up regulatory readability have renewed optimism amongst blockchain companies and traders.

Ought to Trump comply with by way of on these guarantees, the U.S. might re-establish itself as a world hub for blockchain innovation, making the nation extra enticing for crypto companies and traders. 

XRP’s Comeback After Regulatory Struggles

XRP skilled a outstanding surge in November-December, hitting a seven-year excessive of over $2.8 earlier than retracting to round $2. The rally marked a big resurgence for XRP, which had struggled in earlier years resulting from ongoing regulatory uncertainty with the SEC.

With clearer rules on the horizon and rising institutional adoption, XRP’s future seems promising. Some analysts predict that the token might proceed its upward trajectory, doubtlessly reaching $5 or increased in 2025.

The Bitcoin $100K Milestone Is Lastly Realized

Bitcoin reached a rare milestone in December, crossing the $100K mark for the primary time in its historical past. This surge was pushed by a mix of things, together with institutional inflows, the shortage post-halving, and favorable political developments.

The $100K value level reignited FOMO amongst institutional traders, propelling Bitcoin additional into the mainstream. As analysts speculate on what’s subsequent for Bitcoin, all eyes at the moment are on whether or not the asset can proceed to climb in 2025.