Wow, what an exciting time for the cryptocurrency industry! It’s clear that 2024 has been a game-changer, with massive growth across multiple sectors. One of the biggest stories has been the rise of Bitcoin, which continues to dominate the market despite facing some challenges. The approval of spot exchange-traded funds in the US has definitely helped to boost its popularity, but even Donald Trump’s election win seems to have had an impact on its value.
But it’s not just Bitcoin that’s seeing success – the meme coin market has also exploded this year, with its aggregate market cap surging by over 400%. This shift to Solana-based launchpads like Pump.fun has been incredibly exciting to watch. However, it hasn’t all been good news for Ethereum, as this trend has led to a decline in network fees and less ETH being burned.
Decentralized finance (DeFi) has seen a major resurgence in 2024 too, thanks to fresh capital flowing into various protocols and projects. Fewer hacks and exploits, along with reduced regulatory pressure, have helped to drive up the aggregate market cap of the DeFi sector to its highest since early 2022.
Finally, it’s been great to see new projects that emerged during the last bear market thriving in this bull run. Restaking projects and basis trading protocols are just a few examples of the innovation happening in the crypto space right now. Overall, the future looks bright for the cryptocurrency industry, and we can’t wait to see what happens next!
Source
As per reported by www.bitcoininsider.org
