This is Doc, and what a year it’s been for the crypto space. From Bitcoin’s historic highs to transformative developments in tokenised assets, the rise of meme coins, and AI-driven projects, 2024 delivered excitement, growth, and plenty of lessons. Let’s break it all down month by month.

January 2024: A Fresh Start with Institutional Momentum

  • Bitcoin Spot ETFs Finally Approved: The long-anticipated Bitcoin spot ETFs from BlackRock, Fidelity, and others launched, marking a new era of institutional adoption. These ETFs offered retail investors regulated access to Bitcoin.
  • Bitcoin Price Movement: Bitcoin opened at $42,280, peaked at $48,969, and closed at $42,583—a steady start to the year.
  • Regulatory Progress in Asia: Japan introduced crypto taxation clarity, and Hong Kong solidified its ambition to become a global crypto hub.
  • Meme Coins Spark Interest: WIF ($WIF) emerged as a favourite among speculative traders, setting the stage for meme coin mania later in the year.
  • The Great Exchange Migration: After SEC’s ETF approval, memes compared navigating new exchanges to stumbling through a chaotic labyrinth, with liquidity pools feeling more like booby traps.

February 2024: Ethereum Joins the ETF Boom

  • Ethereum Spot ETFs Approved: Building on Bitcoin’s momentum, the SEC approved Ethereum spot ETFs, unlocking new diversification options for institutions.
  • Bitcoin Rally: Bitcoin soared to $63,913, closing the month at $61,198 as retail and institutional enthusiasm combined.
  • Security Breaches Continue: Reports highlighted over $1.3 billion in crypto losses, with North Korean groups driving much of the hacking activity.
  • Layer-2 Adoption Booms: Protocols like Optimism, Arbitrum, and zkSync saw record activity as users sought to bypass Ethereum's high fees.
  • Crypto Valentine’s Day: “I love you so much, I’ll buy you a Bitcoin” quickly turned into “But will you still love me if it dips?” Romance in crypto always comes with volatility.
red Love 24 hours neon light sign
Photo by Wyron A / Unsplash
  • Sam Bankman-Fried Sentenced: The former FTX CEO received a 25-year prison sentence for fraud, marking a turning point in crypto accountability.
  • SBF's "Jail Break": After Sam Bankman-Fried's sentencing, there were playful memes about him trying to escape jail using blockchain technology or launching a "jailbreak coin."
  • Bitcoin Gains Momentum: Opening at $61,168, Bitcoin peaked at $73,750 and closed strong at $71,334.
  • AI in Blockchain: Projects like $FET and $RENDER saw explosive growth as blockchain and artificial intelligence converged to offer cutting-edge solutions.
  • DeFi Hits New Heights: Decentralised finance platforms hit a total value locked (TVL) of $150 billion, reaffirming trust in DeFi ecosystems.

April 2024: The Halving and its Ripple Effects

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Photo by henry perks / Unsplash
  • Price Volatility: Bitcoin fluctuated wildly, opening at $71,333, dropping to $59,120, and closing at $60,637.
  • Mining Industry Reshuffles: Increased mining difficulty forced smaller miners to shut down operations while larger players consolidated their dominance.
  • Regulatory Advances in Europe: The European Union unveiled its comprehensive crypto framework, balancing innovation and compliance.

May 2024: Recovery and Innovation

  • Bitcoin Price Rebound: Bitcoin opened at $60,610, reached a high of $71,946, and closed at $67,491, stabilising after April’s volatility.
  • Ethereum 2.0 Fully Functional: Ethereum’s proof-of-stake network became fully operational, scaling effectively while reducing energy consumption.
  • Tokenisation of Real Assets: Tokenised real-world assets (RWAs) like real estate and art gained adoption as institutional interest soared.
  • Latin America Steps Up: Argentina and Brazil deepened Bitcoin integration into their financial systems, driving regional adoption.
  • FBI’s "Trap Token": A fake token sting operation nabbed crypto manipulators, blending humour with justice.

June 2024: Meme Coins and Layer-2 Growth

  • Bitcoin Consolidates: Bitcoin opened at $67,490, peaked at $71,908, and closed at $62,678 as the market paused after strong gains.
  • Meme Coin Momentum: WIF ($WIF) and new entrants like $PEPE 2.0 captured traders’ imaginations, achieving substantial market caps.
  • Corporate Accumulation: MicroStrategy increased its holdings to 444,262 BTC, doubling down on its conviction in Bitcoin as digital gold.
  • DeFi Platforms Evolve: Security improvements and user-friendly interfaces led to higher engagement on decentralised platforms.

July 2024: Breaking Barriers

  • Bitcoin Approaches $70K: Bitcoin reached $69,987 before closing at $64,619, with rising confidence in crypto’s long-term potential.
  • AI Tokens Gain Steam: Projects like $RENDER and OriginTrail ($TRAC) strengthened their positions as leaders in combining AI with blockchain.
  • Decentralised Social Media Expands: Lens Protocol and other decentralised platforms gained traction as users sought control over their data.
  • India’s Crypto Tax: India proposed a controversial 28% tax on crypto transactions, sparking debates in its growing Web3 ecosystem.
  • AI Tokens Thrive: Projects like $RENDER saw consistent growth, bridging blockchain and artificial intelligence.
  • Humour Amidst the Lull: Memes about the "crypto summer slump" kept the community entertained.

August 2024: Market Corrections

  • Bitcoin’s Dip: Bitcoin opened at $64,626, dropped to a low of $49,121, and closed at $58,970 as broader market sentiment turned cautious.
  • Real-Asset Tokenisation Gains Traction: Gold and oil tokenisation attracted institutional and retail interest, reshaping traditional markets.
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Photo by Zbynek Burival / Unsplash
  • Shifts in Volume: Centralised exchanges reported declining trading volumes, while DeFi platforms experienced steady growth.
  • ZachXBT’s Investigations: The crypto sleuth traced a $243 million Bitcoin theft, showcasing community-led justice.
  • Pig Butchering Scams: Education around these scams gained traction, emphasising vigilance.

September 2024: Markets Unplugged and Volatility

  • FOMC Rate Cut: A 50 basis-point rate cut by the Federal Reserve spiked volatility in traditional and crypto markets.
  • Binance Under Fire: Increased scrutiny in India raised concerns over the exchange’s operations.
  • Bitcoin Range-Bound: Bitcoin remained steady, closing the month at $63,330 as traders awaited fresh market catalysts.
  • U.S. Debates Stablecoin Act: Congress discussed stablecoin regulations to bring clarity and security to issuers and users.

October 2024: Mystery and Bullish Momentum Builds 

  • Bitcoin Rallies: Opening at $63,336, Bitcoin peaked at $73,577 and closed at $70,215, driven by renewed institutional interest.
  • Trump’s Crypto Push: The U.S. presidential race highlighted pro-crypto policies, with Trump advocating for clearer regulations and adoption.
  • AI Integration Deepens: Hedge funds began deploying AI-driven tools for predictive analysis and high-frequency trading.
  • HBO’s Satoshi Documentary: The documentary Money Electric speculated on Peter Todd’s role as Satoshi Nakamoto, which he strongly denied, reigniting debates about Bitcoin’s origins.
Money Electric – Image Courtesy of HBO
  • Chainalysis Report: Advanced scams like "pig butchering" and address poisoning were on the rise, fuelling concern.

November 2024: Trump and Bitcoin’s ATH

  • Trump Wins Presidency: Trump’s victory brought optimism for clearer crypto regulations, with speculation about SEC leadership changes.
Image Credit: Reuters
  • Bitcoin’s Surge: Bitcoin opened at $70,217, hit $99,655, and closed at $96,449, reflecting growing enthusiasm for crypto as an asset class.
  • Ethereum ETFs Excel: Ethereum ETFs reported record inflows, highlighting demand for diversified blockchain assets.
  • Tokenised Real Estate Expands: Platforms offering fractional ownership of real estate through blockchain reported significant growth.
  • DOGE Goes Mainstream: Musk’s endorsement and Trump’s "DOGE Department" brought Dogecoin into the spotlight, bridging meme culture and mainstream adoption.
  • Justin Sun’s Banana Stunt: Eating a $120,000 banana turned Sun into meme fodder, with jokes about him redefining "rich taste" in Web3.

December 2024: Bitcoin’s Historic High

  • All-Time High Achieved: Bitcoin reached a record-breaking $108,300 before closing the year at $92,643, cementing 2024 as a pivotal year for crypto.
a bitcoin snowflake with a bitcoin on it
Photo by Traxer / Unsplash
  • Bitcoin’s ATH Party: Celebrations for Bitcoin’s $108,300 ATH featured memes of “hodl shuffles” and confetti replaced by Bitcoin logos. No need for champagne when there’s a green candle rally.
  • Corporate Blockchain Adoption: Apple and Nike launched blockchain-based loyalty programs, integrating NFTs into customer experiences.
  • DeFi TVL Hits $180 Billion: Decentralised finance closed the year strong, with innovative solutions driving adoption.
  • Community Engagement: Markets Unplugged continued to enhance value for Alpha Insider and Data Vision subscribers, offering market-leading insights and a deeper understanding of crypto dynamics.

Conclusion: A Year of Transformation

As 2024 comes to a close, it’s evident that the crypto space has matured. From Bitcoin’s ATH to groundbreaking advancements in AI, tokenisation, and DeFi, this year laid a robust foundation for what’s to come. For us at Markets Unplugged, it’s been an honour to grow with our community. Here’s to a prosperous and exciting 2025. Stay sharp, stay curious, and as always—stay plugged in.