By Alessandro De Grandi
As we approach the end of 2024, it’s the perfect time to look back at the year’s most compelling events in the world of cryptocurrency. This has been a year full of innovation, controversy, and of course, volatile market conditions, providing plenty of material for a review.
One of the standout moments of 2024 came in the form of the release of Ethereum 2.0. The upgrade finally came to fruition in April, bringing with it the much-awaited shift to a proof-of-stake consensus mechanism. This change has brought a significant decrease in energy consumption, addressing one of the major criticisms of blockchain technology.
Bitcoin also had its moment in the spotlight, as it reached an all-time high in November, only to experience a sharp decline shortly after. These fluctuations have sparked intense debate about the stability and reliability of digital currencies as a store of value.
Meanwhile, the rise of decentralized finance (DeFi) has continued unabated. The total value locked in DeFi platforms has soared over the year, highlighting the growing acceptance and adoption of these decentralized alternatives to traditional financial products.
On the regulatory front, governments around the world have been grappling with how to deal with cryptocurrencies. Some, like China, have cracked down hard, while others, such as El Salvador, have embraced Bitcoin as legal tender. These contrasting approaches have made for a fascinating global landscape.
Finally, let’s not forget the NFT craze that has taken the world by storm. From digital art to virtual real estate, the rise of NFTs has opened up a whole new world of possibilities, sparking both enthusiasm and skepticism in equal measure.
As we head into 2025, it seems certain that the crypto world will continue to evolve at a rapid pace. One thing’s for sure, it’s going to be an interesting ride.
