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Crypto Market Overview 2024: Historic Bull Runs and Market Twists
- In January, the SEC approved 11 Bitcoin ETFs, making crypto investing easier for people who don’t want to directly own it.
- Telegram introduced tap-to-earn games in 2024, which could change Web3 gaming by making it easier for people to join without financial risks.
- Bitcoin reached a record-breaking all-time high of $73,097 in March 2024, fueled by rising adoption of Bitcoin ETFs.
- AI tokens are rapidly gaining attention in the crypto industry through technology like Sora creating hyper-realistic videos from text prompts.
- Bitcoin's halving event on April 19th 2024 caused market activity with users spending over $2.4m in fees for transactions.
- WazirX, an Indian crypto exchange faced a major cyberattack in July 2024, losing $235m.
- The market crash in August 2024 was driven by a combination of factors, primarily the unexpected rate hike by the Bank of Japan and a concerning US job report.
- Token2049, at Singapore’s Marina Bay Sands on September 18-19, 2024, is shaping up to be one of the biggest global events in crypto and Web3.
- Donald Trump's victory in November 2024 sparked optimism among investors and fuelled expectations of a more favorable environment for digital assets and further driving market confidence.
- Federal Reserve Chair Jerome Powell's comments regarding interest rate cuts and Bitcoin dampened investor confidence in December 2024.
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