Crypto Milestones in 2024: ETFs, DeFi Surge, Trump Boost
### Key Takeaways
– The approval of spot Bitcoin (BTC) and Ethereum (ETH) ETFs was a significant milestone for the crypto industry in 2024.
– The U.S. presidential election and the pro-crypto stance of elected President Donald Trump positively influenced market sentiment.
– Decentralized finance (DeFi) markets experienced strong growth, with Total Value Locked (TVL) rising to $120 billion USD.
– Platforms like Polymarket and Uniswap set new benchmarks in adoption and trading volume.
### Approval of Spot Bitcoin and Ethereum ETFs
The most notable development in 2024 was undoubtedly the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) on January 10. This decision opened Bitcoin to a broader audience and provided institutional investors with regulated access. Companies like BlackRock and Fidelity, which collectively hold over 750,000 BTC, played a key role in this process.
Ethereum also received approval for a spot ETF later in the year, further boosting confidence in cryptocurrencies and increasing their appeal to traditional investors.
### Impact of the U.S. Presidential Election on the Crypto Market
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The U.S. presidential election also had a major impact on crypto markets. Donald Trump, the newly elected president, positioned himself as a supporter of blockchain technology and cryptocurrencies. His announcement of plans to make the U.S. the “crypto capital of the world” created a wave of optimism.
Trump also announced his intention to dismiss current SEC Chairman Gary Gensler, who is known for his critical stance on cryptocurrencies. This prospect of regulatory easing bolstered market sentiment.
### DeFi Markets Stage a Comeback
Decentralized finance (DeFi) markets experienced strong growth in 2024. The Total Value Locked (TVL), which measures the total value of assets locked in DeFi protocols, rose to $120 billion USD, marking a significant recovery compared to the peaks of 2021.
Uniswap, the largest decentralized exchange (DEX) on Ethereum, achieved a monthly trading volume of $38 billion USD in November, setting a new record for Layer-2 solutions.
### Polymarket and the Role of Prediction Markets
During the U.S. elections, Polymarket, a crypto-based prediction market, gained popularity. Users were able to bet on the election outcome, making the platform an important indicator of market sentiment.
Additionally, Trump and his sons launched the DeFi platform “World Liberty Financial” (WLF). This platform transparently invested in well-known cryptocurrencies like Chainlink (LINK) and Aave (AAVE), driving their prices upward.
### Our Assessment
The year 2024 was a turning point for the crypto industry. The approval of spot ETFs for Bitcoin and Ethereum marks the beginning of a new era in which cryptocurrencies are increasingly entering the mainstream. The pro-crypto stance of the new U.S. president could provide regulatory clarity and further boost adoption.
DeFi continues to prove itself as a dynamic sector with growing interest and innovation. Platforms like Polymarket and Uniswap emphasize the importance of decentralized technologies for the future of finance.
The developments of this year lay the groundwork for an exciting 2025, during which we will see how these trends evolve.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Price | $93,510.00 |
| 24h % | -1.03 % |
| 7d % | -4.41 % |
| 30d % | -1.68 % |
| 60d % | 34.32 % |
| 1y % | 119.00 % |
| Market Cap | $1,852,045,731,870.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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