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As the clock strikes midnight, ushering in a new year, we take a look back at the most significant crypto news stories of 2024. It’s been an eventful year for the cryptocurrency industry, with regulatory developments, price volatility, and innovation at the forefront.
1. **Bitcoin Price Prediction Goes Wrong**: In January, some experts predicted that Bitcoin would reach $100,000 by the end of the year. Unfortunately, this did not come to pass. Despite some significant price swings, the world’s largest cryptocurrency by market capitalization remains stuck below $20,000.
2. **Mt. Gox Reaches Settlement with Creditors**: After years of legal battles and financial struggles, Mt. Gox has finally reached a settlement with creditors. The exchange was once the largest Bitcoin exchange in the world but filed for bankruptcy in 2014 after losing nearly 850,000 Bitcoins due to hacking.
3. **Satoshi’s $6 Billion Mysterious Payment**: In February, it was reported that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, made a mysterious payment of $6 billion worth of cryptocurrency. While this raised many questions about Satoshi’s whereabouts and intentions, no further information has been revealed.
4. **Ripple’s RLUSD Launches Amid Controversy**: Ripple launched its own US dollar-pegged stablecoin called RLUSD in March, but the move sparked controversy over the company’s lack of transparency and its unclear plans for the new token.
5. **Gary Gensler Takes SEC Chair Seat**: In April, Gary Gensler was confirmed as the Chairman of the Securities and Exchange Commission (SEC). As a former Commodity Futures Trading Commission (CFTC) chairman, he has been vocal about his support for digital assets but has also emphasized the need for regulatory clarity.
6. **Market Manipulation Scandal Rocks Crypto Industry**: In May, allegations emerged that several prominent cryptocurrency exchanges had manipulated market prices through wash trading and other forms of fraud. This led to widespread distrust among investors and a decline in confidence in the industry’s integrity.
7. **Shiba Inu (SHIB) Surges 10,000% in Value**: Despite being a meme cryptocurrency, Shiba Inu experienced an unprecedented surge in value, with its price increasing by over 10,000%. This unexpected rally has sparked hopes of similar moves in other meme coins.
8. **Elon Musk’s Dogecoin (DOGE) Tweet Sparks Frenzy**: Elon Musk’s surprise tweet endorsing Dogecoin sent the cryptocurrency soaring by over 20%, further solidifying its status as a mainstream phenomenon.
9. **Dogecoin Hits $0.70 for First Time Ever**: In July, Dogecoin finally surpassed $0.70 in value, cementing its status as one of the top performers of the year. Its price action was largely driven by its community-driven narrative and strong adoption rates.
10. **Cardano (ADA) Suffers 30% Crash Amid Regulatory Concerns**: In August, Cardano’s ADA token suffered a massive 30% crash following rumors that it would be included in a US regulatory crackdown on digital assets.
11. **Ripple Lays Off 25% of Staff Amid Financial Constraints**: Ripple was forced to cut over a quarter of its workforce due to financial constraints and declining revenue. This move has raised questions about the company’s future prospects and its ability to adapt to the changing market environment.
12. **Solana (SOL) and Ethereum (ETH) Set for Major Scalability Updates**: As we enter 2025, it appears that Solana and Ethereum will be focusing on significant scalability updates in an effort to maintain their competitive edge in a rapidly evolving industry.
As the crypto world moves into a new year, we can only hope that these stories will continue to drive innovation and growth within the space.
Source: u.today
