2024: a year in review

Institutional adoption at a record high

The year 2024 started strong with the U.S. Securities and Exchange Commission (SEC) approving Bitcoin Spot ETFs, a long-awaited milestone that pushed Bitcoin’s price past $60,000 in February. This approval opened doors for institutional investors, making Bitcoin more accessible and regulated. 

Major players like BlackRock quickly introduced their own Bitcoin Spot ETFs, providing both individuals and institutions with new opportunities to invest in the leading cryptocurrency.

This shift also attracted pension funds and global investment firms, which increasingly turned to crypto to navigate traditional market volatility and explore potential long-term investments.

Meanwhile, big banks like JPMorgan and Deutsche Bank made significant moves into the crypto space, offering services such as crypto custody and trading.

The Bitcoin Halving 

Bitcoin’s all-time high streak continued into March, only to face a supply shock in April with the much-anticipated Bitcoin Halving. This event cut mining rewards by half, from 6.25 BTC to 3.125 BTC per block, which drastically reduced the flow of new coins into circulation. The resulting scarcity drove up demand and, in turn, boosted prices. This, combined with earlier milestones like the SEC's approval of Bitcoin Spot ETFs, further drove optimism and strengthened the bullish momentum in the market.

At Bitpanda, we celebrated the Bitcoin Halving in style with a live show packed with special guests and interactive games. Missed it? Watch the full event here:

Ethereum Spot ETF approval

In July 2024, the SEC approved the first-ever Ethereum Spot ETF. This approval gave institutional investors a regulated path to gain access to Ethereum without the need to directly hold the asset. The move generated excitement in the market, showing increasing confidence from institutions in Ethereum's long-term potential.

Clearer rules, stronger crypto: MiCA

2024 also brought significant progress in crypto regulation. The EU’s Markets in Crypto-Assets (MiCA) regulation set a global standard for transparency and investor protection, providing a much-needed legal framework for the industry. MiCA is an important step toward legitimising the crypto market, and supporting innovation while addressing investor concerns.

Bitcoin continues to lead the charge

Bitcoin remained the leader in the cryptocurrency market throughout 2024, despite a dip below $50,000 in August. This shift was largely due to broader market fluctuations, but optimism returned in November following President-elect Trump’s pro-crypto proposals. The "Trump Pump" significantly boosted confidence, driving Bitcoin toward $100,000. In December, Bitcoin finally broke this historic landmark, benefiting from supportive political shifts and growing institutional interest. 

Bitcoin ends the year strong with El Salvador's bold bet

As Bitcoin approached $100,000 in December, El Salvador’s long-term commitment to the cryptocurrency played a role in sustaining the bullish momentum. The country’s continued investment in Bitcoin, including the purchase of more coins despite market fluctuations, highlighted its confidence in Bitcoin as a foundational element of its long-term financial strategy. This added another layer of confidence for investors heading into 2025.

Bullish momentum 

The combination of growing institutional support, political developments and increasing mainstream adoption led to a surge in the crypto market throughout 2024, triggering the long-awaited bull market. 

This resulted in record highs for both established and new assets:

• Ethereum peaked at $4,022.94 in December, fueled by its dominance in decentralised applications and the SEC-approved ETF. 

• Solana rose to $263.83, supported by its growing role in decentralised finance, while Dogecoin reached $0.4761, continuing its popularity as a memecoin. 

• Newer projects like Sui and Neiro also performed strongly, reaching $4.93 and $0.003093 respectively, showing the market’s growing interest in innovative blockchain solutions.

The rise of Web3 Fan tokens

Web3 fan token experienced a major rise in popularity in 2024, offering fans a new way to connect with their favourite teams, artists and brands. Built on blockchain technology, these tokens empower supporters to vote on decisions, access exclusive content or unlock unique rewards. For example, sports teams have used fan tokens to let fans choose jersey designs or pre-match playlists. 

Bitpanda has recently partnered with AC Milan, Italy’s legendary football club, as our official crypto partner. As part of our long-term strategic partnership, we’re excited to list the club’s official fan token ACM on Bitpanda, giving fans an exciting new way to interact with the club. Watch the video below for more insights. 

Powerful partnerships: NFL, DAZN, Deutsche Bank and more

In 2024, we continued to expand our partnerships with some of the biggest names in sports. A key highlight was our collaboration with the NFL as its official European sponsor. We also joined forces with rugby star Antoine Dupont, the global sports entertainment platform DAZN, Deutsche Bank and more - find more insights on all our partnerships here.

More assets, more opportunities

The diversity of the crypto market grew in 2024. Investors now have access to a wider array of assets, including established cryptocurrencies, meme coins and niche tokens. This shift reflects a growing interest in speculative and community-driven investments, such as popular meme coins like Dogecoin and Shiba Inu, and emerging tokens like Sui and Neiro.

With over 500 crypto assets available, Bitpanda is the go-to platform for experienced investors and newcomers, offering the largest selection of crypto in Europe. Discover more about our crypto offerings in the chart below:

Spotlight on emerging projects

Another highlight in 2024 was the launch of Bitpanda Spotlight, a feature designed to help users discover and invest in emerging crypto projects that are typically difficult to find elsewhere. 

The concept is simple: by gaining early access to niche tokens, users can stay ahead of market trends and potentially benefit from the rapid growth of promising assets. This offers a streamlined way to diversify portfolios, allowing investors to explore unique projects that align with their personal interests or investment strategies.

A new standard for crypto trading 

In the usual way, we ended the year strong with the launch of Bitpanda Fusion. The advanced trading platform is designed to meet the needs of both experienced traders and those seeking to maximise their potential returns in the crypto space. With tools that support high-volume trades, it offers efficient and secure trading experiences. Features like swift order execution, detailed chart analysis and real-time market data provide traders with everything they need to take their strategies to the next level. Explore Bitpanda Fusion and take your trading to new heights.

See you in 2025!

2024 was a history-making year, not without some bumps in the road, but ultimately proving crypto's road to maturity. While no one can say for sure what the next year will bring, we can reveal that Bitpanda has plenty of exciting things lined up for 2025. Start the new year by exploring investment opportunities - register with Bitpanda and discover a diverse range of cryptocurrencies, metals, stocks*, and ETFs*.

Wishing you happy holidays and a great start to the new year!

Disclaimer

Investing in stocks, ETFs and commodities carries risks. Conduct your own research before concluding a transaction. *Stocks and ETFs are the underlying assets of the contracts offered as Bitpanda Stocks and are brought to you by Bitpanda Financial Services GmbH. More information about the product is available at bitpanda.com. For more details, consult the prospectus available at bitpanda.com.