news 
Crypto News: 2024 Trading Hits $18.4 Trillion, Second-Best Year Ever – What’s Next for 2025?
The year 2024 has come to a close, and the crypto market has ended on a high note. A staggering $18.4 trillion in trading volume has been recorded, marking it as the second-best year ever in the history of cryptocurrencies. The previous best year was in 2023 with an astonishing $20.1 trillion.
The remarkable performance of the crypto market in 2024 can be attributed to several factors. Firstly, the growing awareness and adoption of blockchain technology have led to increased demand for digital assets. As a result, the volume of trading has seen a significant increase.
Moreover, the rise of decentralized finance (DeFi) platforms and the subsequent growth of lending and borrowing services have attracted more users. This influx of new participants has further boosted the overall trading activity.
Another crucial factor is the continued development and improvement of trading technologies, enabling faster and more seamless transactions. The emergence of new exchanges, like Binance, has also contributed to this growth.
The Bitcoin halving that occurred in April added fuel to the fire as it led to an increase in demand for Ethereum-based applications. This surge in adoption resulted in a significant price rise.
The year 2024 was also marked by Web3 gaming on Telegram, which experienced an extraordinary increase in user numbers. The success of apps like Hamster Kombat and Catizen serves as evidence that the virality of platforms can significantly impact their popularity.
Unfortunately, despite these positive developments, there were still some challenges faced by the industry. A series of exchange failures and legal issues have led to increased scrutiny over regulatory compliance. Some exchanges, like eToro, have scaled back services following settlements with regulatory bodies.
Furthermore, cybercrime continued to be a major concern as losses from hacking reached $2.2 billion. The involvement of skilled cyber threats, primarily coming from North Korea, has made it essential for investors to prioritize security and vigilance in their investments.
As we look forward to 2025, we can expect the growth momentum of the crypto market to continue, driven by factors such as decentralized storage services, artificial intelligence applications and more.
Source: www.crypto-news-flash.com
