Crypto Chronicles: 5 transformative events that have shaped the industry in 2024

The year 2024 is no different than a high-speed roller coaster for cryptocurrency enthusiasts, with major milestones shaking the industry. The U.S. Securities and Exchange Commission (SEC) has given the green light for both bitcoin and ethereum spot exchange-traded funds (ETFs), Bitcoin has undergone its fourth halving event, and this digital asset has surpassed the $100,000 mark. Fasten your seatbelt as we review the top events of the year in this intriguing summary. Meme, AI, ETF, Trump's blessings, and Bitcoin skyrocketed to over 108,000 dollars Over the past 365 days, the cryptocurrency world has greatly increased in value, making 2024 a memorable year. From the end of 2023 to New Year's Eve 2024, this industry has achieved a series of remarkable milestones. Foremost among them is bitcoin reaching a historic peak, soaring to over $108,000 for the first time. In addition to this great value achievement, BTC has broken many personal records, while 2024 also proves to be a turning point for the larger cryptocurrency ecosystem. This article will take you through five interesting and important events that have created waves in the community, each leaving its own mark. The US Securities and Exchange Commission gives the green light to Bitcoin and Ether ETFs Starting in January 2024, the U.S. Securities and Exchange Commission (SEC) approved 11 bitcoin spot exchange-traded funds (ETFs), signaling a milestone in regulation and garnering significant institutional investor interest. As of today, a total of 12 bitcoin spot ETFs exist, collectively holding over 1 million bitcoins. This newfound accessibility has sparked a wave of institutional demand for bitcoin. For example, Blackrock's Ishares Bitcoin Trust (IBIT) has been hailed as the "largest launch" of an ETF in history due to its outstanding performance.

Not stopping there, the SEC also surprised the market by approving ether spot ETFs. On July 23, 2024, nine ether ETFs were launched, attracting $2.64 billion in positive inflows since their launch. These funds currently manage approximately $12.19 billion worth of ether, accounting for 3% of the total market value of the asset, according to sosovalue.com. Meanwhile, the 12 bitcoin ETFs collectively hold $106.40 billion in BTC, equivalent to 5.69% of the total market capitalization of bitcoin. 2—Donald Trump bestows blessings upon Bitcoin and cryptocurrency Donald Trump, the 47th President-elect of the United States, has made a surprising shift in his stance on Bitcoin and cryptocurrencies. Speaking at the Bitcoin 2024 conference in Nashville, Trump declared his ambition to turn the United States into a "Bitcoin superpower" and the "world's cryptocurrency capital".

The re-election of Trump in November brought about what many call the "Trump Pump," pushing the price of bitcoin to new heights. The sudden surge, with massive "Candlesticks of God" on the price chart, occurred right after his victory. After bitcoin broke the $100,000 barrier, Trump wasted no time attributing this increase to his economic policies, congratulating bitcoin investors and taking credit for the price hike. 3—The fourth Bitcoin Halving event On April 19, 2024, Bitcoin underwent its fourth halving, reducing the miner's reward from 6.25 BTC to 3.125 BTC. This important event increased the attractiveness of Bitcoin's scarcity and introduced the Runes protocol, providing a new way to create replaceable tokens on the Bitcoin network, different from BRC20 tokens. While halving emphasizes Bitcoin's deflationary design, it also reduces miners' revenue.

Before halving, hashprice - the expected value of 1 petahash per second (PH/s) of computing power - reached a peak of $100. However, even as bitcoin rose above $100,000, hashprice has not yet recovered to pre-halving levels. To adapt, miners have relied on advanced, energy-efficient machinery and shifted to storing data in artificial intelligence (AI), finding innovative ways to sustain operations in the post-halving era. 4—The Rise of Meme Currency Meme coins have captured all attention in 2024, sparking the imagination of cryptocurrency enthusiasts worldwide. Platforms like Pump.fun have fueled the frenzy, enabling the creation of over 4 million meme coins and driving trading volume surpassing 2 billion dollars. Since January, the meme coin economy has grown over 80 billion dollars, showcasing how humor and creativity can thrive in the digital asset space.

Driven by the trend of virality and strong community awareness, meme coins have evolved from obscure tokens into notable financial players. This year, tokens like dogecoin (DOGE), Pepe, and other dog-themed projects have experienced a resurgence in popularity. Combining humor with the ingenuity of cryptocurrencies, meme tokens have emerged as unexpected breakout stars of the year, attracting attention and, for some fortunate investors, generating significant profits. 5 - The rise of cryptocurrency supported by AI: The rise of AI-driven cryptocurrencies in 2024 marks an important milestone for the blockchain industry, with initiatives like Virtuals Protocol (VIRTUAL), Bittensor (TAO), Artificial Superintelligence Alliance (FET), PAAL, PHA, GRT, and AI-generated tokens like goatseus maximus (GOAT) leading the new movements. Built on the Solana blockchain, GOAT has leveraged an AI agent for its branding and advertising strategies, attracting widespread attention and pushing its market capitalization to exceed $1 billion by the end of the year.

This achievement demonstrates how AI-enhanced narratives can impact investment models and change market dynamics. Together, these developments highlight the profound impact of AI integration with cryptocurrency platforms, sparking new discoveries that push the boundaries of blockchain capabilities and enhance decentralized physical infrastructure networks. 2025 - A New Border The events of 2024 have demonstrated that the cryptocurrency landscape is evolving at an unprecedented pace. As emerging technologies and fields such as AI-controlled cryptocurrencies garner attention, the upcoming wave of innovation appears bright with increasingly exciting prospects. As we conclude this pivotal year, the cryptocurrency space finds itself at a new crossroads. The explosive popularity of meme coins, along with the development of ETFs backed by institutions, highlights the attractiveness and expanding potential of blockchain technologies. Looking ahead, it will be fascinating to observe how the cryptocurrency industry evolves in 2025. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)