As 2025 begins with celebrations worldwide, it’s an ideal moment to reflect on the major cryptocurrency events that defined 2024. From groundbreaking milestones to regulatory shifts, the year significantly influenced the digital asset industry. Here are six key stories that shaped the crypto world in 2024.
1. Bitcoin ETFs Approval
The introduction of Bitcoin Exchange-Traded Funds (ETFs) in January 2024 transformed the cryptocurrency market. BlackRock’s iShares Bitcoin Trust ETF emerged as a standout performer, attracting record inflows throughout the year.
These ETFs offered institutional and retail investors a regulated and straightforward way to engage with Bitcoin, boosting its liquidity and accessibility. By year’s end, Bitcoin ETFs collectively exceeded Satoshi Nakamoto’s estimated holdings, marking a milestone in the asset’s institutional adoption. Experts predict continued ETF growth and further integration of Bitcoin into traditional financial portfolios in 2025.
2. Bitcoin Crossed $100,000
On December 5, 2024, Bitcoin crossed the $100,000 mark for the first time, fueled by favorable macroeconomic conditions, including Federal Reserve interest rate cuts.
This achievement solidified Bitcoin’s position as a leading digital asset and a hedge against inflation. The psychological milestone also heightened its appeal as a mainstream investment tool, attracting a wave of new investors to the cryptocurrency market.
3. Gary Gensler Resigns as SEC Chair
In November 2024, SEC Chair Gary Gensler announced his resignation, signaling a potential shift in cryptocurrency regulation. Known for his stringent enforcement actions against firms like Coinbase, Binance, and Ripple, Gensler’s tenure left a lasting impact.
The crypto community welcomed the news, anticipating a more collaborative approach under incoming Chair Paul Atkins. The change in leadership raises hopes for clearer, innovation-friendly regulations to support the sector’s rapid growth.
4. Bitcoin Halving Triggers Market Rally
Bitcoin’s fourth halving occurred on April 19, 2024, reducing block rewards from 6.25 to 3.125 BTC. This event reinforced Bitcoin’s scarcity-driven economic model, a key factor behind its long-term value.
Although smaller miners faced challenges, the market responded positively, with Bitcoin prices rallying later in the year. The halving underscored Bitcoin’s deflationary nature, attracting more institutional and retail investors seeking stable, long-term returns.
5. Mt. Gox Began Creditors Repayment
In July 2024, the long-awaited repayment process for Mt. Gox creditors began, marking a significant milestone in cryptocurrency history. The infamous 2014 hack, which resulted in the loss of 750,000 BTC, had long overshadowed the industry.
Despite fears of market destabilization, most creditors opted to hold their tokens, reflecting the cryptocurrency market’s maturity. This repayment process brought closure to one of crypto’s darkest chapters and reaffirmed investor confidence.
6. Ripple Introduces RLUSD
Ripple closed the year by launching RLUSD, a regulatory-compliant stablecoin aimed at institutional investors. Positioned to compete directly with market leaders like Tether (USDT) and Circle (USDC), RLUSD highlights Ripple’s commitment to innovation despite ongoing legal challenges with the SEC.
The launch of RLUSD strengthens Ripple’s position in the stablecoin market, signaling its readiness to cater to a more compliance-focused crypto environment.
Conclusion
The cryptocurrency sector in 2024 showcased resilience and innovation amid regulatory and market challenges. Milestones like Bitcoin surpassing $100,000, the rise of ETFs, and Ripple’s new stablecoin underscored the industry’s growing maturity and adoption.
As we enter 2025, these events set the stage for further growth, regulatory clarity, and technological advancements, paving the way for an exciting future in the digital asset ecosystem.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.