With just days left in 2024, the crypto world is buzzing, looking back on a year that changed the game. From Bitcoin’s massive halving event to regulatory wins that shook up the industry, it’s been a rollercoaster of growth, drama, and big wins. Let’s break down the 12 moments that defined the year and got everyone talking.Bitcoin’s Fourth HalvingIn April, Bitcoin’s fourth halving event marked a pivotal moment for the network, reducing miners' block subsidy rewards from 6.25 BTC to 3.125 BTC at block height 840,000. This event, part of Bitcoin's built-in deflationary mechanism, halved the daily Bitcoin production from 900 BTC to approximately 450 BTC. Halvings occur roughly every four years and will continue until the last bitcoin is mined around 2140, after which miners will earn only transaction fees. Following the halving, Bitcoin’s price surged past $100,000 for the first time, driven by market optimism and a pro-crypto sentiment. With a market cap exceeding $3.7 trillion, the event reinforced Bitcoin's scarcity narrative, garnering mixed community reactions of enthusiasm and caution regarding potential volatility. SEC Approves Spot Bitcoin ETFs and Spot Ethereum ETFs in the USSource: SosoValueThis year, the U.S. Securities and Exchange Commission (SEC) approved spot exchange-traded funds (ETFs) for both Bitcoin and Ethereum, marking significant milestones in cryptocurrency integration into mainstream finance.Spot Bitcoin ETFs:Approval Date: January 10, 2024.Launch Date: January 11, 2024.Key Players: BlackRock's iShares Bitcoin Trust ETF (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust ETF (GBTC), among others.Achievements: Within eleven months, Bitcoin ETFs amassed over $108.24 billion in total net assets (5.72% of Bitcoin market cap), with cumulative total net inflow reaching $35.96 billion.Spot Ethereum ETFs:Approval Date: May 23, 2024.Launch Date: July 23, 2024.Key Players: BlackRock, Fidelity, Franklin Templeton, among others.Achievements: Since launch, Ethereum ETFs have gathered $12.01 billion in total net assets (2.99% of Ethereum market cap), and the cumulative total net inflow reached $2.63 billion. Trump Wins Presidential Election Against Harris, Advocating Pro-Crypto PoliciesDonald Trump has been elected as the 47th President of the United States in November, defeating Democratic candidate Kamala Harris with 312 electoral votes to Harris's 226. A notable aspect of Trump's campaign was his pro-cryptocurrency stance, pledging to become a "crypto president" and proposing initiatives such as establishing a national bitcoin reserve and ensuring banking access for crypto firms.Following his election, the cryptocurrency market experienced significant activity; Bitcoin surged to a record high of over $108,000, reflecting investor optimism about a favorable regulatory environment under Trump's administration. The crypto community has largely reacted positively, anticipating policy shifts that could foster innovation and mainstream adoption. Bitcoin Breaks $100K BarrierBitcoin surpassed the $100,000 mark for the first time on December 4, 2024, followed by an all-time high of $108,135 on December 17. This milestone elevated its market capitalization to approximately $2 trillion, exceeding the global silver market. The surge is attributed to President-elect Donald Trump's pro-cryptocurrency stance, including proposals for a national Bitcoin reserve and favorable regulatory appointments, including the appointment of pro-crypto regulators. MicroStrategy Strengthens Bitcoin Strategy with Major AcquisitionsMicroStrategy has aggressively expanded its bitcoin holdings, acquiring an additional 55,500 BTC for approximately $5.4 billion between November 18 and 24, marking its largest purchase yet. The firm now owns 444,262 BTC, valued at over $42 billion, with an average purchase price of $62,257, totaling around $27.7 billion spent. Since adopting bitcoin as its primary treasury asset in 2020, MicroStrategy aims to raise $42 billion through equity and debt offerings for further acquisitions. The company plans to position itself as the leading "bitcoin bank," targeting a valuation of one trillion dollars in the long term. Global Crypto Regulatory UpdatesThe regulatory landscape for cryptocurrencies saw notable advancements, marked by pro-crypto policies, pivotal legal moves, and rising institutional adoption. These changes solidify digital assets' position in mainstream finance.United States: Pro-Crypto ProgressNational Bitcoin Reserve: The Trump administration proposed creating a national Bitcoin reserve, highlighting Bitcoin's strategic importance.ETF Milestones: The SEC approved the first Bitcoin and Ethereum ETFs, paving the way for increased institutional inflows.IRS Tax Rule: The IRS finalized rules requiring DeFi brokers to report user trading information like traditional brokers, effective January 1, 2027, amid industry criticism over compliance challenges and privacy concerns.European Union: MiCA’s ImplementationRegulation Rollout: MiCA (Markets in Crypto-Assets) regulation set to begin in December 2024, with full adoption by mid-2026.Exchange Adjustments: Major exchanges like Coinbase plan to delist certain stablecoins in the EEA to comply with MiCA standards.Institutional Interest: Asset managers report heightened demand for crypto funds due to regulatory clarity.United Kingdom: Enhanced Crypto FrameworkNew Regime: The UK announced a comprehensive cryptoasset regulatory framework, including stablecoins.Crypto ETNs: FCA greenlit professional access to crypto Exchange Traded Notes (ETNs), with Cboe UK leading applications.Asia: Expanding Licensing and InnovationSingapore is emerging as a crypto hub with 13 licenses issued, surpassing Hong Kong's approval speed and strict regulations.Hong Kong Licenses: Four more crypto exchanges were licensed, raising the total to seven. New entrants include Accumulus GBA Technology and Thousand Whales Technology.Institutional Standards: The region focuses on compliance and robust frameworks.Middle East: Strategic Crypto GrowthUAE Advances: Bitpanda gained regulatory approval in Dubai, leveraging the UAE’s crypto-friendly framework for global expansion.With MiCA and U.S. legislation progressing, global players are expected to adapt strategies, while Asia and the Middle East emerge as innovation and adoption hubs. Mt. Gox Reschedules Repayment Deadline to 2025Mt. Gox extended its creditor repayment deadline to October 31, 2025, a further delay from the previous deadline of October 31, 2024. This extension alleviated concerns of increased bitcoin selling pressure after the exchange transferred 47,229 BTC earlier in the year as part of its plan to distribute over $9 billion in bitcoin, bitcoin cash, and fiat currency to creditors. Founded in 2010, Mt. Gox became the largest bitcoin trading platform but collapsed in 2014 after losing 850,000 BTC in a major security breach, highlighting ongoing challenges in the cryptocurrency recovery process. FTX to Start Customer Repayments January 3, 2025FTX is set to begin repaying customers with claims of $50,000 or less starting January 3, 2025, with payments occurring within 60 days. The bankruptcy plan aims to reimburse approximately 98% of customers at 119% of their claimed account values. However, these figures reflect the U.S. dollar-value of deposits from November 2022, meaning customers miss out on significant crypto market gains since then. FTX’s reorganization plan follows a two-year process after its bankruptcy due to a liquidity crisis. Crypto firms Kraken and BitGo will assist in the distribution of funds to affected customers. After the FTX collapse, Sam Bankman-Fried received a 25-year sentence; Ryan Salame got 7.5 years, while Caroline Ellison received 2 years for fraud. 2024 Airdrop Distribution Hit $15B Source: DropstabAccording to Dropstab, in 2024, nearly $15 billion ($14.91 billion) was distributed through crypto airdrops, covering over 50 projects. Layer 2 solutions dominated with $4.22 billion (28.3%), followed by DeFi at $3.31 billion (22.2%) and Layer 1 projects at $2.63 billion (17.6%). Gaming and memes accounted for $2.28 billion (15.3%), while liquid staking hit $1.27 billion (8.52%). HYPE ranked highest, distributing $1.34 billion, followed closely by STRK at $1.33 billion. PENGU, W, and JUP distributed $896 million, $891 million, and $790 million, respectively. This data showcases the growing momentum of airdrops in driving blockchain adoption and engagement across sectors. Most Popular Crypto Narratives in 2024Crypto narratives in 2024 highlighted shifting investor interests, with meme coins and AI-related themes leading the charge amid diverse emerging trends.Meme Coins Dominate InterestOverall Leader: Meme coins captured 14.36% of global investor interest, ranking 1st among crypto narratives.Growth: This marked a 6.04 percentage point increase from 2023’s 8.32%.Diversification: Included trends like Solana meme coins (7.65%), Base meme coins (2.13%), AI meme coins (1.49%), and cat-themed meme coins (1.19%).Total Reach: Combined, meme coin-related narratives accounted for 30.67% of interest.Artificial Intelligence (AI) NarrativesSecond Most Popular: The overall AI narrative claimed 12.58% of investor interest, up 1.26 percentage points from 2023.Other AI Trends: AI agents narrative (1.17%) and AI meme coins contributed to the 15.67% combined AI interest.Comparison: Despite growth, AI narratives trailed meme coins in overall popularity.Emerging Narratives: RWA and DePINRWA Narrative: Gained 8.64% interest, ranking 3rd, up from 6.48% in 2023.DePIN Narrative: Rose to 8th place, increasing by 1.56 percentage points.Solana and Base EcosystemsSolana Ecosystem: Achieved 14.30% combined interest (meme coins 7.65%, ecosystem 5.78%).Base Ecosystem: Base ecosystem and meme coin narratives jointly held 4.87% of investor attention.Declining NarrativesGameFi: Dropped from 10.49% in 2023 to 3.72% in 2024, losing 6.77 percentage points.Other Key Ecosystem NarrativesFive blockchain ecosystems ranked in the top 20:Solana: 5.78%Base: 2.68%Ethereum: 1.82%Sui: 1.04%TON: 0.85%Total Interest BreakdownThe top 20 crypto narratives accounted for 78.72% of investor interest, spread across 200 narratives. NFT Highlights: Bitcoin Ordinals, Airdrops, and Market InnovationThis year, the NFT market experienced significant developments:Bitcoin Ordinals' Rise: Introduced in early 2023, Bitcoin Ordinals—NFTs on the Bitcoin blockchain—gained momentum in 2024. Enhanced infrastructure, including user-friendly wallets like XVerse and Unisat, and marketplaces such as Magic Eden and OXK, facilitated their adoption. Notable projects like Bitcoin Puppets and NodeMonkes saw substantial value increases, with peaks at 0.469 BTC ($33,000) and 0.897 BTC ($56,000), respectively.Marketplace Innovations:Blur: Maintained dominance in Ethereum NFT trading but faced challenges during the summer's market downturn. The team also launched Blast, an Ethereum layer-2 network.Magic Eden: Led advancements by supporting Bitcoin NFTs and introducing a decentralized exchange for Runes, Bitcoin's meme coins. The ME Foundation's launch of the ME token resulted in a $700 million airdrop to protocol users.OpenSea: Regained prominence with the announcement of OpenSea 2.0 and potential token launch speculations, especially after CEO Deven Finzer's commitment to address SEC scrutiny.Pudgy Penguins' Resurgence: Once struggling, the Pudgy Penguins collection achieved new all-time highs, exceeding $100,000, driven by anticipation of its token airdrop. Web3 Security: $2.3B Lost, Top Hacks RevealedSource: HackenThe 2024 Web3 Security Report by Hacken highlights critical security trends and the largest hacks in the blockchain space. Key insights include:Access Control Exploits: Accounted for $1.7 billion in losses, dominating 75% of all hack-related losses due to vulnerabilities in private key and operational security.Biggest Hacks:PlayDapp Hack ($290M): Exploited access control vulnerabilities in Q1, allowing attackers to mint unauthorized tokens.DMM Exchange Hack ($304M): CeFi breach in Q2 caused by compromised private keys or address poisoning.WazirX Exchange Hack ($230M): Unauthorized fund transfers via manipulated multi-signature wallets in Q3.Radiant Capital Hack ($55M): Exploited developer device malware to drain lending pools in Q4.DeFi vs. CeFi:DeFi losses dropped by 40% to $474M due to improved security, particularly in bridges.CeFi losses surged to $694M, primarily driven by poor access control.Gaming and Metaverse: Contributed 18% of losses, with PlayDapp leading as the largest exploit.Phishing Scams: Led to $600M in losses, including the $129M address poisoning attack on the Tron blockchain.This has been a landmark year for crypto, filled with milestones, surprises, and progress. As the industry evolves, these moments remind us that innovation and unpredictability remain at crypto’s core. What’s the most impressive crypto moment of 2024 for you?This article has been refined and enhanced by ChatGPT.