Huobi HTX’s year-end announcement: Top 10 events in the crypto ecosystem in 2024. Can Trump’s new policy change the industry landscape?

In the history of the development of the encryption industry, 2024 has left a mark. This year, we have witnessed the continuous breakthroughs in blockchain technology, the continued surge in Bitcoin prices, the gradual opening of the regulatory environment, and the increasing mainstream recognition of the value of cryptocurrency. As 2024 comes to an end, Huobi HTX, the world's leading digital asset trading platform, has released the latest report " Global Web3 Blockchain Ecosystem Review in 2024 and Outlook for 2025 ", which comprehensively summarizes the important events that have a huge impact on the encryption industry this year. , and make a forward-looking analysis of the development prospects in 2025.

**2024 in Review: Top 10 Events That Changed the Course of the Crypto

Industry**

In January, the U.S. Securities and Exchange Commission (SEC) made a historic decision and approved the listing of the first batch of Bitcoin spot ETFs. This became a turning point for Bitcoin to approach the mainstream investment market, and also reflected the relaxation of the SEC's long-standing tough stance on cryptocurrencies. This has laid the foundation for the development of the crypto ecosystem throughout the year. Just 6 months later, the Ethereum spot ETF was officially approved by the SEC, marking that policies in the cryptocurrency field are gradually tilting in a more open direction; and globally, the Hong Kong Securities and Futures Commission (SFC) announced in April The announcement of approval of the issuance of Asia’s first spot Bitcoin and Ethereum ETFs further solidifies Hong Kong’s status as an international financial center.

Also in April, Bitcoin ushered in its fourth halving in history. What is different from the past is that before this halving, the market was not full of optimism, and the prediction of halving may bring downside risks. Ultimately, Bitcoin did not experience a sharp drop after the halving, but quickly recovered after a period of volatility. This shows that the long-term potential of Bitcoin is still widely optimistic by the market, and more and more investors are beginning to regard Bitcoin as digital gold and a safe-haven asset.

Throughout 2024, Bitcoin prices have experienced large-scale fluctuations many times, most of which are related to the actions of governments in various countries. In July, the German government sold all its Bitcoin holdings, missing out on more than $2 billion in potential profits, triggering market discussions on digital currency management and strategies; in August, the Bank of Japan's monetary policy changes caused large-scale market shocks, and the Japanese and Korean stock markets The circuit breaker mechanism was triggered one after another, and investors fled the stock market for safety, causing digital assets such as Bitcoin to also experience violent price fluctuations. In September, the Federal Reserve launched an interest rate cut cycle, marking that the global market was beginning to turn. These events demonstrate the growing relevance of cryptocurrencies to the global macroeconomy.

Trump is an unavoidable topic in 2024. At the Bitcoin 2024 conference in July, Trump promised to list Bitcoin as a strategic reserve asset of the United States if he is elected as the President of the United States again. In November, Trump won the election and became the first U.S. president in history to openly support cryptocurrency. His re-election has been a huge boon for the crypto industry, with Bitcoin prices continuing to soar on the back of his political influence. On December 5, Bitcoin exceeded $100,000 for the first time, setting a new high. This historic breakthrough not only highlights Bitcoin's status as digital gold, but also shows that cryptocurrency, as a new asset class, is gradually changing the global financial landscape. Despite the current correction in Bitcoin prices, Trump and the new SEC chairman are about to take office, and may quickly launch crypto-friendly actions, and the market expects the Federal Reserve to cut interest rates twice from February to May next year. At that time, the market may usher in a Stage peak. With the gradual clarification of policies and the maturity of the market, the future prospects of Bitcoin are becoming brighter. More investors and institutions will join this investment wave, and the potential of the cryptocurrency market is being fully unleashed.

Huobi HTX pointed out that 2024 is a critical year for crypto assets to truly become mainstream. With the gradual recovery of the global economy and the relaxation of encryption regulatory policies, the integration of traditional finance and digital asset markets has become closer, marking the increasing maturity of the encryption industry, and more and more institutions are beginning to recognize and invest in this industry. Against this background, Bitcoin's nearly 140% increase during the year is no accident. Such growth has stimulated the enthusiasm of global investors, provided a strong impetus to boost the encryption market, and also brought unprecedented opportunities.

**Looking forward to 2025: Bitcoin strategic reserves are worth looking

forward to**

The report believes that as the global regulatory environment gradually matures, blockchain technology innovation will usher in a new round of explosion. The rapid development of various infrastructure and innovative applications indicates that the encryption industry will usher in broader development opportunities. The next few years will be a critical period for the encryption industry to accelerate development, technology to continue to iterate, and innovation to become more popular.

Huobi HTX focused on analyzing the crypto-friendly policies that Trump may bring after taking office. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are expected to be passed more quickly under Trump’s push. The former changed the supervision of a large number of blockchain projects from SEC to CFTC by dividing tokens into digital assets and digital commodities, and introduced a safe harbor mechanism, aiming to provide a clear legal framework for token issuance and trading and promote the development of the entire industry. Standardization and healthy development; the latter and Trump If passed, it will mark the transformation of Bitcoin from a niche asset to a nationally recognized reserve asset, greatly enhance its legitimacy and recognition, and may prompt other countries to take similar measures. Further promote the recognition and application of Bitcoin on a global scale.

Source: BiTBO

The Bitcoin Strategic Reserve Act was submitted to Congress for review on August 4, 2024, and was handed over to the Senate Banking Committee for review, and Trump already has the conditions to promote the passage of this bill. At the same time, many states in the United States have also proposed their own Bitcoin strategic reserve bills. Perhaps in 2025, Bitcoin strategic reserves will become a reality.

In addition, after Trump takes office, the SAB121 bill is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, thereby further promoting the institutionalization of crypto assets and overall improving the maturity of the crypto market. The SEC's application standards for the Howey test are also likely to be relaxed, which will lead to the approval of more cryptocurrency spot ETFs and the listing of more crypto companies.

**Huobi HTX’s various businesses are advancing hand in hand, accelerating

global compliance strategies, and actively deploying the blockchain ecosystem**

For Huobi HTX, 2024 is a critical year for working with blockchain technology and an important moment to contribute to the decentralized economy. In the past year, Huobi HTX has promoted the development of the entire ecosystem through technological innovation, market expansion and user growth on the platform, and further promoted the prosperity of the Web3 ecosystem through strategic layout and investment.

In 2024, Huobi HTX's user growth momentum is strong, with cumulative registered users exceeding 49 million, of which 3 million new users were added in 2024 alone, with nearly 80 billion double-end visits, demonstrating the platform's strong appeal and users Activity. In terms of trading volume, Huobi HTX’s total annual trading volume was close to 2.4 trillion U.S. dollars, a month-on-month increase of 100%, of which spot trading volume contributed 62%, and contract trading volume also reached 900 billion U.S. dollars, demonstrating Huobi HTX’s strong position in the market important position.

In terms of seizing opportunities in emerging markets, Huobi HTX has performed well, launching multiple high-quality assets, and has achieved outstanding results in MEME, RWA, DeFi and other fields. Among the projects launched in the early stage, many have achieved scores of dozens of times, or even "Golden dogs" that have increased hundreds of times include WIF, BOME, NEIROCTO, SUNDOG, etc.

In terms of compliance and internationalization, Huobi HTX continues to promote global compliance strategies and actively cooperates with regulatory agencies in various countries to ensure the legal operation of the platform in major markets. In 2024, Huobi HTX’s compliance operations in the European market have been further strengthened, and it is promoting the platform’s layout in the Middle East through Huobi Dubai.

In addition, HTX Ventures, the global investment arm of Huobi HTX, has increased its investment in cutting-edge crypto projects, covering DeFi, ZK-rollups, Layer 1 and Layer 2 solutions, artificial intelligence, GameFi and other fields. HTX Ventures provides more resource support through cooperation with top venture capital institutions to help investment projects achieve market expansion and technological innovation. In particular, the successful launch of projects such as Babylon, Berachain, Monad, Avail and Sophon demonstrates the strong innovation driving force and broad application prospects of blockchain technology. The success of these projects not only brings considerable returns to Huobi HTX, but also further promotes the development of the entire blockchain ecosystem.

Looking forward to 2025, Huobi HTX will continue to delve into the global market, strengthen compliance operations and technological innovation, and strive to provide users with more diversified digital asset services. As the global regulatory environment gradually matures and industry technology continues to make breakthroughs, the encryption industry will usher in more development opportunities in the next few years. Huobi HTX will continue to cooperate with major institutions and communities around the world to promote the widespread application of crypto assets and occupy a leading position in multiple segments. We believe that 2025 will be a critical year for Huobi HTX to embrace new opportunities in the industry , and it will also be a moment for the global blockchain ecosystem to usher in a full-scale explosion.

About Huobi HTX

Huobi HTX was established in 2013. After 11 years of development, it has evolved from a cryptocurrency exchange into a comprehensive blockchain business ecosystem, covering digital asset trading, financial derivatives, research, investment, incubation and other businesses. As the world's leading Web3 portal, Huobi HTX adheres to the development strategy of global expansion, ecological prosperity, wealth effect, and security compliance, and provides comprehensive, safe, and reliable value and services to virtual currency enthusiasts around the world.

For more information on HTX, please visit HTX Square or https://www.htx.com/ and follow on X , Telegram and Discord . If you have further questions, please contact HTX@ruderfinn.com.