2024 was another pivotal year for cryptocurrency, marked by a mix of growth, challenges, and innovation. Here’s an overview of key developments, emerging trends, and predictions as we move into 2025.
Key Events in 2024
This year witnessed significant milestones, including Ethereum’s Dencun Upgrade, Robinhood’s Well’s Notice, and Hyperliquid’s $2 billion airdrop. Bitcoin soared past $100,000, while SEC Chair Gary Gensler announced his resignation.
Despite no major market shocks, crypto market capitalization doubled. Bitcoin reached $1.9 trillion, while altcoins collectively hit $1.6 trillion. Diversification across payments, DeFi, gaming, and infrastructure strengthened the ecosystem.
Crypto Investments Driving Growth
In 2024, Pantera invested in companies addressing ecosystem-specific challenges:
- Gaming Data Integration: Helika, a gaming analytics platform, bridged gaps in Web3 data analysis.
- Web3 AI Solutions: Sahara AI created an all-in-one platform, blending Web2 ease with Web3 innovation.
- Intent Infrastructure: Everclear standardized order flow and stakeholder connections.
- Modular zkVM Solutions: Nexus enabled tailored, hyper-scalable blockchain layers.
- Consumer Apps Expansion: TON integrated directly into Telegram, leveraging its 950M users.
A Look Back at 2024 Predictions
1. Bitcoin and DeFi Growth
Accuracy: 4/5
Bitcoin dominance exceeded 60%, but only 0.5% of Bitcoin joined DeFi protocols. Babylon attracted $2B in locked Bitcoin, doubling prices and boosting TVL tenfold to $3.5B.
2. Tokenized Social Experiences
Accuracy: 2/5
While on-chain gaming thrived, new consumer use cases lagged behind. Platforms like Morph aim to drive future adoption.
3. TradFi and DeFi Integration
Accuracy: 5/5
ETF inflows surged, with $119B in Bitcoin and Ethereum ETFs. Stablecoins hit $192B, and RWA tokenization increased by 60%, driving adoption.
4. Modular Blockchains and ZK Proofs
Accuracy: 4/5
ZK proofs were widely adopted but lacked explosive growth. Partnerships like Nexus and QED laid groundwork for future scaling.
5. Computational Apps On-Chain
Accuracy: 2/5
Adoption of on-chain AI and DePIN products remained limited. Helium made strides, but broader traction was elusive.
6. Hub-and-Spoke Models for Appchains
Accuracy: 2/5
Many appchains opted for rollup-as-a-service models over hub-and-spoke designs, prioritizing integration over standalone ecosystems.
Predictions for 2025
1. RWAs Dominate On-Chain Assets
RWAs, excluding stablecoins, may represent 30% of on-chain TVL by 2025. T-Bills, private credit, and commodities will drive this growth.
2. Bitcoin-Finance Maturity
Protocols like Babylon may bring 1% of all Bitcoin into DeFi. This trend is fueled by rising Bitcoin prices and innovative BTC-native solutions.
3. Fintech as Crypto Gateways
Platforms like TON, Venmo, and WhatsApp will onboard millions into crypto through neutral and user-friendly interfaces.
4. Unichain Emerges as L2 Leader
If Unichain captures half of Uniswap’s volume, it could surpass other L2s in transaction volume.
5. NFTs Regain Utility Focus
NFTs will expand into gaming, IP tokenization, and consumer apps. Use cases in identity and rewards systems will grow exponentially.
6. Restaking Protocols Launch
Eigenlayer, Symbiotic, and Karak will launch in 2025, powering decentralized infrastructure and multi-billion-dollar markets.
7. zkTLS Technology Revolutionizes Data
Zero-knowledge proofs will bridge Web2 and Web3, enabling verifiable data on-chain with innovative applications in oracles and cryptographic security.
Regulatory Optimism Ahead
With pro-crypto leadership changes, the U.S. regulatory environment shows promise. Clear frameworks and reduced lawsuits may foster industry growth.
2024 demonstrated crypto’s resilience, innovation, and potential for mainstream adoption. As we enter 2025, optimism and strategic investments set the stage for continued growth and new possibilities.