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Most crypto experts and investors will agree that 2024 was a good year for the asset class. After an intense winter period from late 2022, 2024 represented a comeback for the space in more ways than one. There was a lot of anticipation for 2024 and it is safe to say that it exceeded them. As we settle into 2025, it is worth looking back at this iconic year.
By analyzing how 2024 unfolded for the industry, we can predict how 2025 will work out and better prepare ourselves for it. Here are the major crypto developments for 2024:
● The Year of Presales
Crypto presales have proven popular for years but 2024 is the year where they really made their mark. With the market full of optimism, investors were hungry for new projects and this was reflected in the numbers reported.
As Carlos De Lanuza writes, some of the trending token presales this year raised millions of dollars and entered the market with the sort of pomp and hype even legacy tokens would be jealous of. From Pepe Unchained to BlockDAG, many of these presales also have innovative features to back up the hype. 2025 is gearing up to be another big year for presales, thus building on this foundation.
● ETF Approvals
One of the biggest wins for the crypto space this year was undoubtedly the approval of spot ETFs for both Ether and Bitcoin by the SEC in the United States. These ETFs had been pursued for years, with some of the top companies in the industry applying for them and being denied. Once Bitcoin was approved in January 2024, experts predicted that Ether would soon get the same treatment. Not only did Ether indeed get approved but both ETFs have seen billions of dollars in capital inflow, making them a resounding success. Looking to 2025, tokens like Dogecoin and XRP have been rumoured to get their own ETFs and it will be interesting to see if that is true.
● Meme Coin Dominance
Meme coins have been as successful as they have been controversial. The asset class has seen immense criticism both within and outside of the industry and 2024 saw it rise to new heights. Legacy meme coins like Dogecoin continued to be popular among investors and with the creation of the Department of Government Efficiency (DOGE) which is headed by meme coin lover Elon Musk, it has even more links to the mainstream. Then there was the launch of new meme coins that offered not just hype but utility. As the space becomes more saturated in 2025, the quality offerings will rise to the top.
● Bull Runs Galore
For years, Bitcoin hitting the $100,000 price point was spoken about with an air of wishful thinking. But in 2024, thanks to several factors coming together, Bitcoin both met and surpassed this price point. Now, analysts are looking at $125,000 or even $150,000 as next year’s big price milestone. Not only did Bitcoin see a bull run but major altcoins such as ETH and SOL saw big price wins this year. And if the conditions that facilitated this are maintained, we can expect more of this in 2025.
● NFTs Return
Many will remember the initial run of NFTs when they captured the public’s attention with such collections as the Bored Ape Yacht Club. Then, the asset class saw a major dip in popularity and some critics considered it done entirely. 2024, however, saw NFTs begin to make a comeback, with trading volume slowly picking up and a better public sentiment towards it. In 2025, we should see more of this, including greater emphasis on the practical use of these tokens compared to the pure hype of just a few years ago. Thus, investors looking to launch or buy into NFT projects should watch the markets in 2025.
● Political Relevance
A few years ago, crypto having such a big presence in the political arena would have seemed unimaginable. But that is exactly what happened, particularly with the US Presidential elections. Rather than being relegated to the sidelines, crypto took centre stage. Both major candidates had to declare their intentions for the industry, with Trump especially courting its support. From Bitcoin-themed merch during the elections to crypto companies rushing to donate to the inauguration, its relevance is clear. As we enter 2025, we can expect consumer sentiment to be positive, more pro-crypto regulation via the new SEC chair, and more space for the crypto sector in the global landscape.
Conclusion
2024 will go down in history as a pivotal year for crypto. Not only did it do well financially, with new investment vehicles and all-time highs, but it also ascended to a level of relevance and acceptance not seen before. Hopefully, this will translate into even more progress in 2025.
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