DIGIVESTASI - The Crypto Market's Journey Through 2024: A Year of Historic Milestones and Transformation, The crypto market in 2024 marked several key events that significantly impacted both the community and industry players. While the previous year’s market growth relied on limited catalysts, this year ushered in widespread adoption fueled by global macroeconomic dynamics, creating a period of immense opportunities and substantial transformation. Below are some of the historical milestones that defined the crypto world throughout 2024 :

Bitcoin Surpasses $100,000 for the First Time

Bitcoin achieved a major milestone with a remarkable price surge this year. Starting at $42,000 in early January, Bitcoin set a new record at $100,000 on December 5, with a market capitalization exceeding $2 trillion. This surge was driven by the momentum of the U.S. presidential election and increased institutional adoption. By year-end, Bitcoin had risen nearly 125% year-over-year (YoY), despite experiencing substantial liquidation periods.

The First Bitcoin Spot ETF in the U.S.

The launch of the first Bitcoin spot ETF in the United States at the start of 2024 was one of the primary catalysts for Bitcoin’s price increase. This product attracted $1.3 billion in inflows during its first month and grew to $35.6 billion by year’s end. The iShares Bitcoin Trust by BlackRock emerged as one of the most sought-after products, registering the largest inflows.

The Fourth Bitcoin Halving

The fourth Bitcoin halving on April 19 reduced the miner rewards to 3.125 BTC per block. This event spurred a surge in transaction fees, averaging $146—the highest ever recorded. The Bitcoin network felt the direct impact, although signs of improvement had already begun to manifest prior to the event.

Blockchain Activity Reaches Record Highs

Blockchain activity hit an all-time high in 2024, with over 220 million active monthly addresses. This surge was driven by leading networks such as Solana, which reported 100 million active addresses, followed by NEAR, Coinbase’s Base, Tron, and Bitcoin. Crypto wallet adoption on mobile devices also saw a sharp rise, with 29 million monthly active users reported in June.

Impact of the 2024 U.S. Election

The U.S. presidential election brought crypto into the global spotlight. President-elect Donald Trump openly supported progressive regulations and actively participated in discussions surrounding digital assets. Bullish sentiment grew stronger, with Bitcoin prices surging past $100,000 following the election and reaching $108,000 by year-end.

The Meme Coin Boom

Meme coins stole the spotlight again in 2024, with new community-driven token launches. Solana became a hub of innovation with the pump.fun protocol, while Dogecoin continued to dominate trading volumes. Dogecoin’s popularity was further boosted by the new U.S. administration’s symbolic endorsement of DOGE for efficiency-focused initiatives.

Stablecoin Development

Stablecoins solidified their role as an efficient global payment tool. Stablecoin transaction volumes reached $8.5 trillion in the second quarter, twice the volume of Visa. In Europe, the MiCA regulation ushered in significant changes, pushing euro-based stablecoin adoption to claim 91% of the regional market share.

Crypto's Transformation Toward the Mainstream

2024 witnessed significant advancements in institutional adoption, strengthened regulation, and technological innovation. This journey has further solidified crypto’s position as an integral part of the future of global financial industries.

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