2024 has brought significant changes to the landscape of cryptocurrency and blockchain technology. It’s not just reshaping digital finance and perception—it’s leaving its mark on the entire global economy in ways unimaginable in crypto’s early days. 

Starting with the headline that had everyone talking: “Bitcoin hits $100,000!”

Bitcoin finally crossed the six-figure mark. After years of wild price swings and endless predictions, expectations were shattered, and attention was grabbed from enthusiasts and skeptics alike. 

But the story doesn’t stop there. In 2024, crypto didn’t just break records; it grew up. New regulations emerged,  new tech arrived, and new use cases drew more people into crypto.

Let’s explore the 11 key milestones that made 2024 a significant year for crypto.

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Key takeaways

• Bitcoin hits $100,000: Thanks to significant events like the Spot ETF approval, bitcoin halving, and Donald Trump’s election, Bitcoin finally broke the $100,000 mark.
• Trump’s election victory boosts crypto: With Trump, a pro-crypto guy, back in power, the market rose.
• Spot Bitcoin ETF approved: The SEC approved the first spot Bitcoin ETF. Now, it’s much easier to invest in Bitcoin without the hassle.
• Crypto joins the traditional finance world: Big players like Visa and Coinbase started working together, making it more straightforward for folks to use crypto alongside regular money.
• Blockchain technology takes off: 2024 saw some cool new uses for blockchain in areas like DeFi, supply chains, and healthcare, showing just how versatile the tech can be.
• Stablecoins are key players: Stablecoins helped keep things steady during market ups and downs, and CBDCs also made some progress around the globe.
• Crypto regulations get clearer. Countries are setting clearer crypto rules to protect consumers and manage risks.
• Ethereum gets upgraded. Major updates, like Dencun and Pectra, have made it faster and easier to use and kept it competitive with other blockchains.
• Crypto’s global influence is growing. Inflation-hit countries now use crypto, especially stablecoins, for daily transactions and remittances. It’s the go-to option.
• Rise of crypto prediction markets: Crypto prediction markets took off. They let people bet on real-world events, and they’re thriving now due to clearer regulations.
• Memecoins reach a $140 billion market cap: Reflecting the power of community-driven tokens.

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#Milestone 1: Bitcoin’s historic $100,000 price breakthrough

In Q1, the best quarter since 2021, events in crypto, like the Spot ETF approval, hinted at a possible Bitcoin price rise. Even with some bumps, Bitcoin price trends showed profound resilience. Bitcoin’s price climbed from $42,300 to $71,350 by the end of the quarter, hitting a new all-time high of $73,800 in March.

Despite the ups and downs, analysts stayed upbeat. Many predicted a rise to $100,000—or beyond—by year’s end. This prediction was right on the money.

To understand Bitcoin’s 2024 price trends, we must examine the factors that affect them. Some of these factors include:

• Bitcoin halving event: On April 19th, 2024, the halving event reduced the block reward from 6.25 BTC to 3.125 BTC. Historically, bitcoin halving has led to price increases.
• United States presidential election: Donald Trump’s election victory was the most significant political event in 2024. He is considered one of the most pro-crypto politicians in the world, and most analysts expect the new administration to pursue similar policies.  
•   Macroeconomic environment: Rapid global economic shifts like central bank rate cuts boosted Bitcoin as a hedge against inflation and fiat currency depreciation.

#Milestone 2: Spot Bitcoin ETF approval: A turning point for crypto

Big news broke on January 10, 2024. The SEC approved the first-ever spot Bitcoin ETF. This decision simplifies Bitcoin investment and eliminates the hassle of managing it.

But there’s more. This approval opened the door for institutional adoption. It catered to those who prefer regulated assets. It sends a clear message. Regulators now view Bitcoin as a legitimate, investable asset.

Expect this to draw in institutional investors—think pension funds and endowments—who have been on the sidelines and hesitant about diving directly into crypto.

Spot Bitcoin ETFs have boosted Bitcoin’s volume and liquidity. They give investors access to traditional brokerage accounts. More trading could reduce volatility and stabilize the crypto market over time.

Related: Ethereum ETF: How does it Work, and what are the benefits and risks?

#Milestone 3: Donald Trump’s election and its impact on crypto

The election of Donald Trump on November 4th, 2024, had a positive impact on the cryptocurrency market, with Bitcoin reaching new all-time highs, above $100,000, amid investor optimism. 
For the first time, crypto believers had a crypto proponent in the highest echelon of power. Trump, being a crypto investor, also helped cement the perception.

His administration is expected to adopt a more crypto-friendly stance, which could have significant implications for the industry in 2025. Some of the tell-tale signs include

•  Paul Atkins, a crypto-friendly advocate, was appointed as the new chair of the SEC.
•  Appointing David Sacks, the former COO of Paypal and a strong crypto advocate, as the white-house crypto and AI czar. 

The new administration’s approach could catalyze global crypto adoption by signaling U.S. support for decentralized financial systems. 

Additionally, more transparent rules could attract more institutional investors, potentially pushing Bitcoin and other major cryptocurrencies to new heights and widespread adoption in one of the most important crypto markets.

#Milestone 4: Crypto’s further Integration into traditional finance

Many traditional financial institutions have historically been skeptical of cryptocurrencies and other associated blockchain technologies. However,  some institutions are slowly changing their minds. In 2024, the integration of cryptocurrency into traditional finance (TradFi) gained momentum, driven by developments in regulatory clarity, institutional adoption, consumer demand, and advancements in blockchain technology. 

Some of the most significant integrations included:

• Visa and Coinbase allowed users to transfer funds seamlessly between bank accounts and crypto wallets, enhancing digital currency accessibility. 
• PayPal’s expansion into crypto services enables merchants to buy, sell, and hold various cryptocurrencies, bridging the gap between crypto and fiat currencies.

#Milestone 5: Enhanced application of blockchain technology

In 2024, blockchain technology took off with some amazing new use cases in industries like DeFi, supply chain, and even healthcare. Startups focused on blockchain were leading the charge, showing how much potential this technology has to reshape how we do things.

DeFi 2024 continues to pioneer blockchain’s integration into financial systems, creating real-world applications like peer-to-peer lending platforms, decentralized exchanges, and payment solutions. 

Platforms like Aave and Compound have expanded blockchain innovation into real-world asset tokenization, allowing physical assets like real estate to be fractionalized and traded digitally.

Platforms like Powerledger facilitate decentralized energy markets where users can trade excess energy generated from renewable sources, promoting sustainability and creating a passive income stream. 

By late 2024, blockchain-focused startups are spearheading new applications, from energy trading platforms that enable peer-to-peer energy exchanges to blockchain solutions for digital identity and intellectual property protection.

This might interest you: Practical Uses of Cryptocurrency in Everyday Life.

#Milestone 6: Stablecoins mature, leading to increased usage

In 2024, stablecoins like USDC and USDT solidified their role as crucial components of the crypto ecosystem in the following ways:

• Liquidity provision: Stablecoins played a vital role in providing essential liquidity during market volatility by pegging their value to fiat currencies. This stability allowed traders and investors to navigate turbulent periods confidently, free from the worry of drastic price fluctuations.
• Attraction for traders and institutions: Their inherent stability enabled users to hold assets in the crypto space without worrying about price fluctuations.

Additionally, CBDCs made  advancements worldwide, including the following milestones:

• India: The Reserve Bank of India’s pilot for the Indian CBDC surpassed 5 million users, signaling strong public interest and acceptance.
• Indonesia Achieved notable progress in its wholesale CBDC  trials.
• mBridge Project: Aiming to enhance cross-border payment efficiency by linking national CBDCs reached the minimum viable product (MVP) stage. 

#Milestone 7: The regulatory landscape is becoming clearer.

In 2024, the crypto industry witnessed increased regulation clarity. Several significant economies introduced comprehensive frameworks for cryptocurrency regulation. The focus was on protecting consumers, fighting money laundering, and addressing systemic risks.

Here’s  a brief breakdown of some regulatory milestones in 2024: 

• The European Union: The European Union implemented its Markets in Crypto-Assets (MiCA) framework, setting clear guidelines for issuers and service providers.
• The United States: The U.S. saw mixed progress, with the Securities and Exchange Commission (SEC) intensifying enforcement and Congress advancing legislation to clarify distinctions between securities and commodities in the crypto space.
• Asia: Japan and South Korea tightened rules around stablecoins while encouraging innovation through sandbox initiatives.
• On December 6, 2024, the Czech Parliament unanimously approved a new tax regulation that exempts capital gains tax on Bitcoin and other cryptocurrencies held for over three years.
• The UK’s Financial Conduct Authority (FCA) unveiled a phased roadmap for crypto regulation, outlining new rules for stablecoins and introducing enhanced governance frameworks for the sector.
• Brazil is creating legislation to lay the groundwork for a Bitcoin reserve.

#Milestone 8: Ethereum upgrade- faster and more user-friendly.

2024 was a huge year for Ethereum. It showed its strong focus on scalability, security, and usability. Here are some significant upgrades:

1. Dencun upgrade (March 13th, 2024)
   • Ethereum rolled out the Dencun upgrade to tackle one of its biggest challenges: high transaction costs, particularly for Layer 2 solutions like Optimism and Arbitrum. By introducing a smarter way to manage data, transaction fees on these solutions dropped significantly—up to 20 times lower than before.
   • This improvement wasn’t just about saving money; it brought Ethereum closer to rivals like Solana in terms of efficiency, making the blockchain more appealing for developers and users.
2. Pectra upgrade: raising the bar
   • The Pectra upgrade followed, introducing sophisticated features designed to make Ethereum faster, safer, and easier to use.
     • Verkle Trees is a cutting-edge data storage solution that streamlines information management on the blockchain, helping to lower gas fees.
     • EIP-3074: This update enabled the bundle of multiple transactions into one, speeding up processes while reducing complexity.
     • User-centric innovations: User-centric innovations have really transformed how we interact with wallets, especially in the Ethereum space. The introduction of social recovery features makes it much easier for people to get back into their accounts securely, which is a huge relief. On top of that, advanced cryptography has bolstered security, helping users feel more confident and safe in their transactions. Overall, these improvements have made the whole experience a lot more user-friendly!

Collectively, these changes meant Ethereum wasn’t just keeping up with competitors—it was redefining what blockchain technology could achieve.

This might interest you: Everything You Need to Know about the Solana vs Ethereum Debate.

#Milestone 9: Crypto’s elevated role in global economic trends

Cryptocurrency is increasingly influencing global economic trends, which is becoming increasingly significant. Chief among these is crypto adoption in emerging markets. 

Emerging markets experiencing inflationary pressures or currency crises are adopting cryptocurrencies as an alternative store of value and medium of exchange. This was one of the main drivers of global crypto trends.  

Countries like Argentina, Turkey, and Nigeria, where national currencies have suffered significant devaluation, have seen surging demand for stablecoins.

Stablecoins, like USDT and USDC, are popular in these regions. They are more stable than volatile local currencies and are increasingly used for everyday transactions, savings, and access to global markets.

Crypto transaction fees are lower than those charged by services like Western Union or SWIFT.

This might interest you: 3 Effective Ways to Access the Blue Dollar Rate in Argentina.

#Milestone 10: Growth and popularity of  the crypto prediction marketplace

2024 saw a significant rise in crypto prediction markets, a milestone for blockchain usage. These markets offer decentralized and transparent platforms to forecast real-world events. These markets have gained momentum due to regulatory clarity in countries like Switzerland and the United States, which has allowed platforms such as Polymarket and Augur to thrive. 

For example, Polymarket gained fame for hosting diverse prediction events. These included forecasts on the 2024 U.S. presidential election and crypto prices. 

Augur, leveraging Ethereum, ensures tamper-proof market operations, enhancing the user experience. 

💡Fun fact: Contracts on the U.S. presidential election on Polymarket reached nearly $3.7 billion. 

#Milestone 11: The rise of meme coins

2024 has been a great year for meme coins.  From January to December, they grew by 330%. This accounts for 11.21% of the total cryptocurrency market, a substantial rise from 4.2% at the start of 2024.

These quirky, community-driven cryptocurrencies, born from internet memes, took off this year. They captured retail investors’ hearts—and wallets—everywhere. With Dogecoin, Shiba Inu, and Pepe leading the charge, more people joined. They treated these coins as fun investments or gambling, not serious assets.

By December 2024, their market cap topped $140 billion. They’ve carved a niche in crypto, attracting mainstream media and some big players.

💡Fun fact: over 60,000 new meme coins launch daily. Showcasing vibrant, fast-changing marketplace.