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This Year in Crypto – Spot Bitcoin & Ethereum ETF Approvals, ‘Trump Pump,’ and More
The past 12 months have been nothing short of remarkable for the cryptocurrency market. With numerous developments that have shaped its trajectory, it’s hard to ignore the transformative impact these events have had on the space. In this article, we’ll take a closer look at some of the most significant happenings in the crypto world.
One of the most critical milestones achieved in 2024 was the approval of Spot Bitcoin and Ethereum ETFs. This move marked a major turning point for institutional investors and individual traders alike, as it opened the doors to mainstream exposure for both assets. The news sent shockwaves through the market, leading to a massive surge in their prices.
The approval of these ETFs came after several false alarms caused significant price volatility earlier in the year. The uncertainty surrounding these approvals had been building tension among investors and traders, but the eventual green light from regulatory bodies brought much-needed clarity to the market.
Another notable development was the ‘Trump pump.’ As it turns out, former US President Donald Trump’s involvement in the crypto space has been a significant driver of growth for certain assets. His announcement of World Liberty Financial (WLF), a decentralized finance (DeFi) money market platform, sent shockwaves through the market. This move saw tokens such as Chainlink and Aave experience significant price appreciation due to their listing on WLF.
The DeFi ecosystem has also continued to thrive, with the total value locked (TVL) across different chains approaching $170 billion once more. This resurgence is a testament to the resilience of the space and its ability to adapt and evolve in response to changing market conditions.
Finally, Uniswap, the world’s largest decentralized exchange on Ethereum, has seen record-breaking trading volumes. In November, it achieved a staggering monthly volume of over $38 billion, surpassing earlier highs set in March 2024.
As we close out this turbulent year, one thing is certain – the crypto market will continue to be shaped by its numerous developments and twists. As always, it’s essential for traders and investors alike to stay informed about these changes to make the best possible decisions.
In conclusion, the past year has been a rollercoaster ride of sorts, with both positive and negative outcomes. However, one thing that is undeniable is the immense potential still lying ahead in this space.
Source: ambcrypto.com
