The year 2024 proved pivotal for the cryptocurrency market. According to The Block, key developments — including the launch of spot Bitcoin ETFs, the April halving, and support for Bitcoin by the newly elected U.S. President Donald Trump — bolstered interest in the sector. Experts note that these factors led to both success stories and the downfall of several crypto-related stocks.
Top Crypto Stocks of 2024
- MicroStrategy (+402%). The largest corporate holder of Bitcoin increased its reserves to 440,000 BTC (valued at $40 billion). The company’s market cap reached $83 billion.
- Core Scientific (+307%). The North American mining firm strengthened its position thanks to 12-year contracts with CoreWeave, concluded post-halving in April.
- Terawulf (+142%). The company doubled its hash rate capacity to 10 EH/s, boosting its value.
- Bitdeer (+122%). Expanding mining capacity and vertical integration helped Bitdeer become a leader among publicly traded miners.
- Coinbase (+69%). A $1 billion share buyback announcement and revenue growth to $8.2 billion solidified the exchange’s market position.
Companies Facing Challenges
- MARA Holdings (-16%). Despite holding a large portfolio of 44,394 BTC, the company faced ongoing market volatility.
- Bit Digital (-17%). Its hybrid model of Bitcoin mining and Ethereum staking failed to fully meet investor expectations.
- Hive Digital (-32%). While it cut losses, the firm continues to lose ground in a competitive market.
- Argo Blockchain (-80%). This London-based mining company struggled with capital-raising efforts and regulatory shifts.
- Gryphon Digital Mining (-92%). Lower revenues and higher losses placed the company among the biggest underperformers.
Expert Conclusions
Analysts note that 2024 reaffirmed the crypto sector’s volatility and potential. The success of leading market players underscores the importance of adapting to changing conditions and managing assets strategically. In 2025, market participants expect further technological advancements and increasing institutional interest.
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Read Also: Crypto Market 2025: Seven Predictions from Forbes
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