6 Major Crypto Market Events of 2024
GNcrypto’s editorial team highlights the most significant events that reshaped the global crypto landscape this year.
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2024 proved to be a transformative year for the digital asset industry, marked by key developments that left a lasting impact.
Here are the standout moments:
- Bitcoin ETF Approval
The U.S. SEC’s historic approval of the first Bitcoin Exchange-Traded Funds granted BTC institutional legitimacy. This milestone gave traditional investors easier access to the crypto market by enabling investments in “digital gold” without requiring direct asset ownership.Read more: “The Journey to Bitcoin ETF Approval: A Detailed Look”
- Sam Bankman-Fried's Trial
The saga of the FTX collapse reached its conclusion in March 2024 when Sam Bankman-Fried was sentenced to 25 years in prison for embezzling billions of dollars in customer funds. He was also ordered to pay $11 billion in restitution.Caroline Ellison, his former partner and key associate, cooperated with authorities and received a reduced sentence of two years. Her actions earned her the infamous moniker “Queen of the Rats.”Bankman-Fried, however, remains hopeful, appealing his sentence with expectations that President Donald Trump’s administration might offer some form of intervention.
- MicroStrategy Joins the Nasdaq 100 Index
The inclusion of MicroStrategy, the largest corporate holder of Bitcoin, in the Nasdaq 100 marked a significant milestone in integrating cryptocurrencies into the traditional financial system. This move silenced skeptics in the world of TradFi. Inspired by this achievement, Michael Saylor initiated the formation of a strategic BTC reserve for MicroStrategy, investing over $5 billion in Bitcoin.What is MicroStrategy’s plan, and how could it influence the crypto market?
Read more in our article: “Unpacking MicroStrategy’s Bitcoin Strategy and Its Risks”
- Bitcoin’s Next Halving
In April 2024, Bitcoin underwent its fourth halving event, reducing miners' block rewards by half—from 6.25 BTC to 3.125 BTC. Historically, halving events have preceded price surges, and 2024 was no exception: Bitcoin reached a new all-time high of $108,339 (as per WhiteBIT exchange data).The event also coincided with an unexpected decline in average transaction fees on the Bitcoin network, sparking optimistic forecasts about the cryptocurrency's future development.
Read more about this milestone in our article: “Bitcoin Halving 2024: What It Is and What to Expect?”
- Ripple vs SEC: The Legal Saga Concludes
The protracted legal battle between Ripple and the SEC finally reached a resolution in August 2024. A court ordered Ripple to pay a $125 million fine—significantly less than the $2 billion originally sought by the SEC. While considered a major win for Ripple, the case is not entirely closed, as the SEC filed an appeal in October.This milestone had a considerable impact on the crypto market. Curious about its implications?
Check out our article: “Ripple vs SEC: What the Verdict Means for the XRP Community”
- Donald Trump’s Presidency and Its Crypto Impact
The political landscape shifted notably in 2024 with pro-crypto Donald Trump’s re-election as U.S. President in November. A known crypto enthusiast, Trump has promised to integrate Bitcoin into the national strategic reserve, which spurred a surge in cryptocurrency prices.Additionally, the anticipated resignation of Gary Gensler as SEC Chair has sparked optimism for regulatory relief in the crypto sector.What can the market expect from new SEC leadership?
Learn more in: “Why Is Atkins Better Than Gensler?”
BTC Rings in the New Year on a High Note
Which events do you think had the most significant impact on the crypto landscape this year?
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