What Happened in the Web3 World in 2024?
The year 2024, eagerly awaited by the Web3 ecosystem, has delivered on its promises. Bitcoin Halving, ETF approvals, the Memecoin frenzy...
What events unfolded in the Web3 world in 2024?
New ATH for Bitcoin
Bitcoin showcased its highest price movement since November 2021, reaching a new all-time high (ATH). In late 2024, Bitcoin surpassed $100,000, setting a remarkable record.
Travala Expands Crypto Travel Bookings with Solana Partnership
The crypto-friendly travel platform Travala enabled users to make bookings using SOL, USDT, and USDC, thanks to its integration with the Solana Blockchain.
Donald Trump’s New Crypto Project: “World Liberty Financial”
Former U.S. President Donald Trump and his family introduced a DeFi project called World Liberty Financial (WLFI). The platform drew attention by offering 63% of its token supply in a public sale and aims to provide financial services such as lending and investment.
Avalanche Foundation Unveils Visa Crypto Card
The Avalanche Foundation introduced the Avalanche Card, enabling spending with crypto assets. Linked to a self-custody wallet, the card supports assets like USD Coin, wAVAX, and sAVAX, and is usable anywhere Visa is accepted.
The 4th Bitcoin Halving Completed
One of the most significant events of 2024 was the completion of the Bitcoin Block Reward Halving, which occurs approximately every four years. With this halving, the Bitcoin block reward was reduced to 3.125 BTC.
Bitcoin, Ethereum, and Solana ETF Approvals
Major financial institutions like BlackRock and Fidelity received approval for Bitcoin Exchange-Traded Funds (ETFs). These approvals significantly boosted institutional investment demand for Bitcoin and Ethereum.
Ripple (XRP) Wins SEC Lawsuit
Ripple (XRP) won its lawsuit against the U.S. Securities and Exchange Commission (SEC). The court ruled that XRP is not a security.
Regulatory Developments in Turkey
The "Law Proposal for Amendments to the Capital Markets Law," which includes regulations for the crypto asset ecosystem, was approved by the Turkish Grand National Assembly (TBMM) General Assembly on June 26 and became law. Now, cryptocurrency platforms require approval from the Capital Markets Board of Turkey (SPK) to be established and begin operations.
AI and Blockchain Integration
2024 witnessed the rise of AI-focused cryptocurrencies, with tokens like Fetch.ai (FET) and SingularityNET (AGIX) experiencing significant growth. These tokens benefited from the wider adoption of AI technologies and their integration with blockchain.
Stripe Makes a Crypto Move After 6 Years
Stripe announced that it will resume accepting crypto payments after a 6-year hiatus. Transactions will initially be conducted through USDC on the Solana, Ethereum, and Polygon networks. The company had removed Bitcoin support back in 2018.
RWA Tokenization
Tokenized real-world assets (RWA) reached a market value of $3.45 billion, with an annual growth of 700%. This growth reflects the increasing use of blockchain by brands like Louis Vuitton.
Memecoin Dominance in the Market
Memecoins captured 11% of the cryptocurrency market value. With growing demand for memecoins, particularly on the Solana network, we witnessed the rise of community-focused tokens throughout the year.
$4.3 Million NFT Sale
The iconic dog from the memecoin Dogwifhat, Achi, had its NFT sold for $4.3 million.
