2024, The Year Everything Changed For The Crypto Market

The year 2024 marked a historic turning point for the crypto industry, with bitcoin surpassing the symbolic threshold of 100,000 dollars in December. Between the resounding successes of Bitcoin ETFs and colossal losses due to hacks, this year has been rich in twists and turns for the crypto sector.

A record year for hodlers and institutions

The crypto market underwent a major transformation in 2024, driven by massive institutional adoption and regulatory validation in the United States. On December 5, bitcoin crossed the 100,000 dollar mark for the first time, fueled by a favorable political context and the historic approval of spot Bitcoin ETFs by the SEC in January. This rally peaked at 108,000 dollars in mid-December, allowing 87% of holders to realize substantial profits.

MicroStrategy has become the perfect example of this institutional success, with bitcoin reserves reaching 42 billion dollars by the end of December. El Salvador also saw its strategy of adopting bitcoin as legal tender bear fruit, its 5,942 BTC now representing 576 million dollars. In their wake, many companies like Metaplanet and Rumble have integrated bitcoin into their treasury.

Moreover, Bitcoin ETFs enjoyed resounding success, surpassing gold funds with 129 billion dollars in assets under management in December. Furthermore, the memecoin sector is not lagging behind, with a total market cap of 104 billion dollars, driven by the impressive performances of Dogecoin and Shiba Inu.