The epic 2024 crypto journey: crypto ETFs to Bitcoin hitting $100k and more

2024 was nothing short of a blockbuster for the crypto world.

From regulatory milestones to technological breakthroughs, each month unfolded like chapters in an epic saga, redefining the digital financial landscape.

Let’s rewind the clock and relive the highlights of this transformative year, step by step, from January’s fireworks to December’s triumphs.

January: A new era with Bitcoin ETFs

2024 kicked off with a bang on January 10, as the US SEC finally gave the green light to 11 spot Bitcoin ETFs.

This landmark approval unlocked a regulated pathway for institutional investors, sparking a frenzy in the crypto market.

After the ETF approvals, Bitcoin’s price surged past $40,000, signalling the dawn of a new age where cryptocurrencies became an appealing asset class for even the most conservative investors.

March: Ethereum’s Dencun upgrade

In March, Ethereum made waves with the much-anticipated Dencun upgrade, a technological leap that significantly slashed transaction costs on Layer 2 solutions, such as zk-rollups and optimistic rollups.

The Dencun upgrade enhanced Ethereum’s efficiency, narrowing the gap with its competitor, Solana.

It marked a pivotal step in Ethereum’s journey towards solving its long-standing scalability challenges.

April: Bitcoin’s fourth halving event

April 19 saw Bitcoin’s fourth halving event, a momentous occasion in the crypto calendar.

The halving reduced mining rewards, effectively curbing the supply of new Bitcoin entering the market.

While the immediate price surge was more of a slow burn than an explosion, history hinted at the bullish momentum brewing beneath the surface causing traders and hodlers to brace themselves for the much-expected bull run.

June: Europe’s crypto regulatory dawn

Summer brought regulatory clarity to the European Union as the Markets in Crypto-Assets (MiCA) regulation took effect in June after the EU Council endorsed the regulation in May, marking a bold step toward legitimizing and nurturing the burgeoning crypto industry.

This comprehensive framework aimed to protect crypto investors in the EU while fostering innovation, setting a potential global standard for crypto regulation.

July: Ethereum ETFs approval

July added another feather to the crypto cap as the SEC approved spot Ethereum ETFs.

Though Ethereum’s price didn’t skyrocket overnight following the ETF approvals, the approval was a significant step in positioning the blockchain as a mainstream investment asset.

Meanwhile, Bitcoin experienced volatility, briefly dipping below $54,000 before rallying to end the month above $67,700, fueled by growing optimism.

October: Redemption for FTX

October’s headline story was the phoenix-like rise of FTX.

After its dramatic collapse in 2022, the exchange announced plans to begin compensating customers in January 2025.

November: Eclipse mainnet launch and Donald Trump’s victory

November was a game-changer, with two breakthroughs stealing the spotlight.

First, Eclipse launched its mainnet, becoming the first Ethereum Layer 2 built on Solana’s technology.

This innovation showcased the potential of cross-chain collaboration, setting a new benchmark for blockchain interoperability.

Second, Donald Trump won the US presidential election, boosting cryptocurrency optimism.

Bitcoin reacted by hitting an all-time high of $89,800, driven by optimism over Trump’s perceived crypto-friendly stance.

December: Bitcoin hit an ATH above $108k

The year concluded with fireworks in December as Bitcoin broke through the psychological barrier of $100,000 to hit an all-time high of $108,268.45 on December 17 according to to CoinMarketCap.

This historic milestone was fueled by a mix of institutional investments, political tailwinds, and economic uncertainties.

Ethereum ETFs have also seen record inflows, hinting at the onset of an altcoin season with Ethereum leading the pack.

Ethereum briefly tapped $4,000 as several altcoins like ONDO and memecoins like Baby Doge and PEPE hit new all-time highs.

On December 20, the SEC approved Bitcoin-Ether index ETFs for Hashdex and Franklin, offering investors a diversified entry point into the crypto market.

Conclusion: 2024 will be a year to remember for crypto enthusiasts

2024 wasn’t just another year in crypto; it was a defining one.

Each milestone, from Bitcoin’s halving to Ethereum’s advancements, from regulatory victories to technological innovations, reinforced the narrative of cryptocurrencies as a legitimate and integral part of the global financial ecosystem.

As the curtain closed on this epic journey, one thing is certain: the story of crypto has only just begun and 2025 is expected to be even spicier with Donald Trump at the help of the new administration in the US.

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