2024 has been a year of volatility and innovation in the cryptocurrency sector, with strong movements from Bitcoin to altcoins. The most notable event was the launch of a memecoin named MIRA on the Pump.Fun platform, attracting significant attention with a market capitalization reaching $80 million. The story behind MIRA comes from the father of a girl with a rare brain cancer, who called for contributions from the cryptocurrency community for medical research. The strong connection through social media platforms has boosted trading and special interest from the crypto community, helping to raise over $1 million for research, far exceeding the initial goal of only $300,000.
At the same time, El Salvador continues to solidify its position as one of the largest Bitcoin-holding countries in the world with over 6,000 Bitcoin in the national treasury, valued at approximately $569 million. New moves from the government, including the purchase of an additional 11 Bitcoin in just one day following a $1.4 billion agreement with the International Monetary Fund (IMF), have prompted the government to reconsider its Bitcoin policies, particularly the requirement for businesses to accept BTC as legal tender.
In the AI cryptocurrency front, the sector has witnessed a significant decline as market capitalization dropped nearly 30%, from a peak of $70.4 billion on December 7 to $50.5 billion. This indicates that investor interest has somewhat diminished as trading volume also decreased by nearly 11%.
Additionally, Bitcoin and Ether ETFs listed in the US have seen impressive interest in their first year of launch, with total inflows reaching $38.3 billion. Of this, Bitcoin ETFs dominated with $35.65 billion, while Ether ETFs accounted for $2.68 billion. Notably, the iShares Bitcoin Trust ETF led the way by attracting $37.31 billion, far exceeding initial predictions. However, the end of the year also recorded a net outflow of $1.33 billion, signaling a cautious return from investors.
Overall, 2024 has ended with many dynamic developments, from the touching stories of memecoins to the tightening of cryptocurrency policies by various countries. These changes not only mark an important milestone but also promise a new year full of transformation in the crypto world.
