Huobi HTX year-end blockbuster: Top ten events in the crypto ecosystem in 2024, can Trump’s new policy change the indust

In the history of the development of the kripto industry, 2024 has left a strong mark. This year, we have witnessed the continuous breakthroughs in blockchain technology, the continued surge in Bitcoin prices, the gradual opening of the regulatory environment, and the increasing mainstream recognition of the value of cryptocurrencies. At the end of 2024, the global digital asset trading platform Huobi HTX released its latest report 2024 Global Web3 Blockchain Ecosystem Review and 2025 Outlook , which comprehensively summarizes the important events that have had a huge impact on the crypto industry this year and makes a forward-looking analysis of the development prospects in 2025.

Looking Back at 2024: Top 10 Events That Changed the Course of Crypto

In January, the U.S. Securities and Değişme Commission (SEC) made a historic decision to approve the listing of the first batch of Bitcoin spot ETFs. This became a turning point for Bitcoin to approach the mainstream investment market, and also reflected the SECs long-standing tough stance on cryptocurrencies. The tone of the development of the crypto ecosystem for the whole year was thus established. Just 6 months later, the Ethereum spot ETF was officially approved by the SEC, indicating that the policy in the field of cryptocurrency is gradually leaning towards a more open direction; and globally, the Hong Kong Securities and Futures Commission (SFC) announced in April that it approved the issuance of Asias first spot Bitcoin and Ethereum ETFs, further consolidating Hong Kongs position as an international financial center.

Also in April, Bitcoin experienced its fourth halving in history. Unlike in the past, the market was not full of optimism before this halving, predicting that the halving might bring downside risks. In the end, Bitcoin did not experience a sharp drop after the halving, but quickly rebounded after a period of volatility. This shows that the long-term potential of Bitcoin is still widely favored by the market, and more and more investors are beginning to view Bitcoin as digital gold and a safe-haven asset.

Throughout 2024, Bitcoin prices have fluctuated widely many times, most of which are related to the actions of various governments. In July, the German government sold all its Bitcoin holdings, missing out on more than $2 billion in potential profits, triggering market discussions on digital currency management and strategies; in August, the Bank of Japans monetary policy changes caused large-scale market shocks, and Japanese and Korean stock markets triggered circuit breakers one after another. Investors withdrew from the stock market for risk aversion, causing Bitcoin and other digital assets to experience violent price fluctuations; in September, the Federal Reserve launched a rate cut cycle, marking the beginning of a shift in global markets. These events show that the correlation between cryptocurrencies and the global macroeconomy is increasing.

Trump is a topic that cannot be avoided in 2024. At the Bitcoin 2024 conference in July, Trump promised to list Bitcoin as a strategic reserve asset for the United States if he was re-elected as the president of the United States. In November, Trump won the election and became the first US president in history to publicly support cryptocurrency. His re-election has brought huge benefits to the crypto industry, and driven by his political influence, the price of Bitcoin has continued to soar. On December 5, Bitcoin broke through $100,000 for the first time, setting a new high. This historic breakthrough not only highlights Bitcoins status as digital gold, but also shows that cryptocurrency, as a new asset class, is gradually changing the global financial landscape. Despite the current Bitcoin price correction, Trump and the new SEC chairman are about to take office, and may quickly launch crypto-friendly actions. The market expects the Federal Reserve to cut interest rates twice from February to May next year, when the market may usher in a phased peak. With the gradual clarification of policies and the maturity of the market, the future prospects of Bitcoin are brighter, and more investors and institutions will join this investment wave. The potential of the cryptocurrency market is being fully released.

Huobi HTX pointed out that 2024 is a key year for crypto assets to truly go mainstream. With the gradual recovery of the global economy and the relaxation of crypto regulatory policies, the integration of traditional finance and digital asset markets has become closer, marking the increasing maturity of the crypto industry, and more and more institutions have begun to recognize and invest in this industry. Against this background, Bitcoins nearly 140% increase this year is by no means accidental, and such growth has stimulated the enthusiasm of global investors, provided a strong impetus for boosting the crypto market, and brought unprecedented opportunities.

Looking forward to 2025: Bitcoin strategic reserves are worth looking forward to

The report believes that as the global regulatory environment gradually matures, blockchain technology innovation will usher in a new round of explosion, and the rapid development of various infrastructures and innovative applications indicates that the crypto industry will usher in broader development opportunities. The next few years will be a critical period for the crypto industry to accelerate development, continuously iterate technology, and continuously popularize innovation.

Huobi HTX focused on analyzing the crypto-friendly policies that may be brought about by Trumps inauguration. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are expected to be passed more quickly under Trumps promotion. The former, by dividing tokens into digital assets and digital commodities, will transfer the supervision of a large number of blockchain projects from the SEC to the CFTC, and introduce a safe harbor mechanism, aiming to provide a clear legal framework for token issuance and trading, and promote the standardization and healthy development of the entire industry; while the latter coincides with Trumps campaign promise. If passed, it will mark the transformation of Bitcoin from a niche asset to a nationally recognized reserve asset, greatly enhancing its legitimacy and recognition, and may prompt other countries to take similar measures to further promote the recognition and application of Bitcoin worldwide.

Source: BiTBO

The Bitcoin Strategic Reserve Act was submitted to Congress for review on August 4, 2024, and was submitted to the Senate Banking Committee for review. Trump has already met the conditions to promote the passage of this bill. At the same time, several states in the United States have also proposed their own Bitcoin Strategic Reserve Acts. Perhaps in 2025, the Bitcoin Strategic Reserve will become a reality.

In addition, after Trump takes office, SAB 121 is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, further promoting the institutionalization of crypto assets and improving the maturity of the crypto market as a whole. The SECs application standards for the Howey test are also likely to be relaxed, which will lead to more cryptocurrency spot ETFs being approved and more crypto companies going public.

Huobi HTX is advancing its various businesses in parallel, accelerating its global compliance strategy and actively developing its blockchain ecosystem

For Huobi HTX, 2024 is a critical year for keeping pace with blockchain technology and an important moment to contribute to the decentralized economy. In the past year, Huobi HTX has promoted the development of the entire ecosystem through technological innovation, market expansion and user growth on the platform, and further promoted the prosperity of the Web3 ecosystem through strategic layout and investment.

In 2024, Huobi HTX has a strong user growth momentum, with cumulative registered users exceeding 49 million, of which 3 million were newly added in 2024 alone, and nearly 80 billion visits on both ends, demonstrating the platforms strong appeal and user activity. In terms of trading volume, Huobi HTXs total annual trading volume was close to US$2.4 trillion, a month-on-month increase of 100%, of which spot trading contributed 62%, and contract trading volume also reached US$900 billion, showing Huobi HTXs important position in the market.

In terms of seizing opportunities in emerging tracks, Huobi HTX has performed well, launched multiple high-quality assets, and achieved outstanding results in MEME, RWA, DeFi and other fields. Among the early launched projects, there are many golden dogs that have achieved dozens or even hundreds of times of growth, including WIF, BOME, NEIROCTO, SUNDOG, etc.

In terms of compliance and internationalization, Huobi HTX continues to promote its global compliance strategy and actively cooperates with regulators in various countries to ensure the legal operation of the platform in major markets. In 2024, Huobi HTXs compliance operations in the European market have been further strengthened, and the platforms layout in the Middle East is being promoted through Huobi Dubai.

In addition, HTX Ventures, the global investment arm of Huobi HTX, has increased its investment in cutting-edge crypto projects, covering DeFi, ZK-rollups, Layer 1 and Layer 2 solutions, artificial intelligence, GameFi and other fields. Through cooperation with top venture capital institutions, HTX Ventures provides more resource support to help investment projects achieve market expansion and technological innovation. In particular, the successful launch of projects such as Babylon, Berachain, Monad, Avail and Sophon has demonstrated the powerful innovation driving force and broad application prospects of blockchain technology. The success of these projects has not only brought considerable returns to Huobi HTX, but also further promoted the development of the entire blockchain ecosystem.

Looking ahead to 2025, Huobi HTX will continue to deepen its presence in the global market, strengthen compliance operations and technological innovation, and strive to provide users with more diversified digital asset services. With the gradual maturity of the global regulatory environment and the continuous breakthroughs in industry technology, the crypto industry will usher in more development opportunities in the next few years. Huobi HTX will continue to cooperate with major global institutions and communities to promote the widespread application of crypto assets and take a leading position in multiple segments. We believe that 2025 will be a key year for Huobi HTX to embrace new opportunities in the industry , and it will also be the moment when the global blockchain ecosystem will usher in a comprehensive outbreak.

About Huobi HTX

Huobi HTX was founded in 2013. After 11 years of development, it has grown from a cryptocurrency exchange to a comprehensive blockchain business ecosystem, covering digital asset trading, financial derivatives, research, investment, incubation and other businesses. As the worlds leading Web3 portal, Huobi HTX adheres to the development strategy of global expansion, ecological prosperity, wealth effect, and safety and compliance, providing comprehensive, safe and reliable value and services to virtual currency enthusiasts around the world.

For more information about HTX, visit Kadın HTX Square veya https://www.htx.com/ and follow Kadın X , Telgraf Ve Anlaşmazlık . For further questions, please contact HTX@ruderfinn.com.

This article is sourced from the internet: Huobi HTX year-end blockbuster: Top ten events in the crypto ecosystem in 2024, can Trump’s new policy change the industry landscape?

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