Experts at Cryptorank.io have compiled the major events of the past year that exerted the greatest influence on the industry. The year 2024 proved momentous for the crypto world, filled with moments that will shape the market in the years to come. Here they are:
Approval of Bitcoin ETFs
The year kicked off with a breakthrough in institutional recognition of cryptocurrencies: the SEC approved its first spot Bitcoin ETFs. Companies like BlackRock and Fidelity launched their products, making Bitcoin more accessible to millions of retail investors. This step symbolizes the legitimization of Bitcoin as a full-fledged financial asset and has paved the way for an influx of new market participants.
Unexpected Transfer to Satoshi Nakamoto’s Wallet
In January, the crypto community was stunned by a transfer of 26.9 BTC — worth about $1.2 million — to the first wallet created by Satoshi Nakamoto. The move sparked debate over the motives and objectives of the anonymous sender. Some speculated that it might have been an attempt to burn the funds, while others saw it as a sign of activity by Bitcoin’s creator. The exact reasons remain unknown.
The Fourth Bitcoin Halving
April brought Bitcoin’s fourth halving, reducing mining rewards from 6.25 BTC to 3.125 BTC per block. This process traditionally creates scarcity in the market, intensifying interest in cryptocurrency. Historically, halvings have been associated with price increases — confirmed in 2024 when Bitcoin hit a new record of $100,000.
Sam Bankman-Fried’s Sentence
March saw a landmark moment for the crypto industry when FTX founder Sam Bankman-Fried was sentenced to 25 years in prison for fraud and ordered to pay $11 billion in restitution.
The Emergence of AI Agents in Web3
Artificial intelligence made waves in Web3, enabling autonomous agents to manage DAOs, optimize DeFi protocols, and execute smart contracts. However, questions arose regarding oversight, ethics, and potential manipulation of these tools.
Donald Trump’s Victory and Crypto Support
Donald Trump’s victory in the November presidential election brought optimism to the crypto community. His pledges to encourage innovation and provide regulatory clarity may again strengthen the United States’ position as a hub for blockchain development.
XRP’s Growth and Bitcoin’s Long-Awaited Record
In December, Ripple demonstrated a price surge for XRP, which reached $2.80 per token — thanks in part to improvements in the regulatory environment.
Looking Ahead
Over the past year, the crypto industry has carved out a significant place in history, raising the bar for future accomplishments. Market participants’ attention is now on 2025, which could be even more pivotal for technological advancement and mainstream crypto adoption.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.