Blockchain.com, the famous multifunctional platform that offers a wide range of services focused on the crypto world, has just published its “End of year report 2024”.
Within the report we find various reflections on the state of the cryptography industry, the main market trends and the milestones achieved by the company during the last year.
Let’s see everything in detail.
Blockchain.com: The Trends and Dominant Narratives of 2024
According to Blockchain.com, 2024 was a highly transformative year for the entire crypto industry.
In the last 12 months we have witnessed strong changes in the blockchain world, both from a macroeconomic perspective and from a more technical point of view.
Among the pivotal events that have aroused the most interest and participation from the public we find in first place approval of exchange-traded funds for BTC and ETH.
The introduction of regulated exchanges for the first two cryptocurrencies was a step of strong institutional adoption, which made the entire technology sector more mainstream.
Precisely thanks to the positive momentum of spot ETFs, Bitcoin reached one of the most important speculative objectives in its entire history: reaching $100,000.
Also highlight the positive impact on the market caused by the Expansive monetary policies of the FED.which in 2024 began a path of cutting federal rates.
Another significant moment for the sector, especially for the DeFi segment, is represented by the resignation of the director of the SEC, Gary Gensler.
After Donald Trump’s victory in the US elections, the pressures on Gensler were so strong that the anti-crypto politician was forced to leave his valued position, removing a major factor of oppression on crypto companies.
The scene of crypto regulation in the US It has also gone through two historic rulings against two key figures in this sector.
First with Sam Bankman Fried, sentenced to 25 years in prison for the FTX fraud, then with Changpeng Zhao, sentenced to 4 months and to pay a fine of 4 billion dollars for violating money laundering laws.
On a more technical front, Blockchain.com finally points out how 2024 was the year of halving for Bitcoin as well as the year of the major software update Dencun for Ethereum.
All of these events have contributed to transforming the cryptocurrency market, making it more involved in a regulated institutional life and more resistant to attacks from external detractors.
Blockchain.com’s expanded presence in the crypto world
The year 2024 was also very positive for Blockchain.com itself, which has repeatedly underlined its strong presence in the crypto universe.
The cryptocurrency services company, founded since 2011, has taken advantage of the opportunity to strengthen its brand within a sector that seems to welcome more and more players.
In particular In the last year, Blockchain.com has participated in and co-sponsored more than 30 events around the world.
His name has been recurring in a wide range of web3 events in countless cities located in America and Asia.
Among the main ones we find: Dubai, Singapore, Miami, Dallas, New York, London, Hong Kong, Bangkok, Paris, Brussels and Denver.
The most significant events were: the North American Blockchain Summit 2024, Quantum Miami 2024, Thai Blockchain Week and Stanford Blockchain Week.
Great participation of Blockchain.com also as a sponsor of events not focused on the crypto topic, such as sports events.
By 2025, the company aims for even greater dynamismwith the aim of being present in a large number of public and private initiatives.
In addition to classic industry events, there is also talk of boxing matches, music concerts, themed dinners and other selected meetings.
The ultimate goal is to make Blockchain.com’s name resonate wherever there is a chance to gain significant engagement and get people talking about it.
Year of growth for spot and options trading desks
In addition to the multiple networking opportunities that Blockchain.com will find in 2024, we must necessarily mention the progress recorded by the platform’s trading desks.
For those who don’t know, the platform manages trading desks that users can rely on to execute their crypto trades, in the spot and options markets.
As for the options desktop, we report a year of impressive growth where volumes have increased 47-fold compared to 2023.
This growth was driven by a two-way flow for much of 2024 as traders had great opportunities in both bull and bear markets.
Also highlight the positive impact of the elections in the United States; which with Trump’s victory in November meant a great boost in purchase volumes, followed by broad positioning the following month.
Obviously most flows are denominated in Bitcoinwhich reflects the speculative interest of investors due to the records set by the cryptocurrency during the year.
Also on the desktop front, Blockchain.com noted strong growth numbers, especially for the first half of 2024.
According to the dataspot volumes on the platform were 2.8 times higher than the previous year. reflecting strong bullish momentum.
This growth has been driven by an expanding customer base and a deeper commitment to existing relationships.
The approval of the Bitcoin spot ETFs in January and the subsequent halving in May were fundamental factors that increased the commercial base of users, who were positioned in the spot in the first months of the year.
The altcoin, on the other hand, represented 34% of the volume traded during the period, a fairly high figure that, however, must be compared with the highest figures of 2023, highlighting a year-on-year decrease of 44%.
BTC and ETH have achieved a significant increase in holdingswith a trend opposite to that of altcoins.
This data reflects a scenario where altcoin traders move to more specialized platforms, such as the memecoin launchpad or DeFi applications.
On the contrary, more traditional investors, who prefer to stick with the main coins in the crypto market, prefer more institutionalized trading desks like Blockchain.com.
