Crypto Adoption in 2024: Trends and What’s Coming in 2025

We can say 2024 was a good year for the cryptocurrency market, even if not everything was good for the industry. New regulations worldwide are being enforced, providing much-needed legal clarity in numerous jurisdictions. Besides, adoption is booming—businesses, governments, and even skeptics are jumping on board. The whole market reached new records. But as the industry grows, so do the risks, with crypto thefts hitting record highs too.

Let’s check what the year 2024 has left to crypto, and what things we can wait for in the future. For now, it seems bright!

MiCA Enforcement

The implementation of MiCA (Markets in Crypto-Assets) in 2024 marks a turning point for the European Union’s approach to crypto regulation. Designed to bring transparency and stability, this law focuses heavily on centralized entities offering crypto services to EU citizens, regardless of where they’re based.

Stablecoins are at the heart of this regulation, with issuers now required to maintain 1:1 reserves and obtain authorization before operating in the EU.

Algorithmic stablecoins have been outright banned, and daily transaction limits of €200 million for non-European stablecoins like USDT and USDC have forced major issuers to rethink their strategies. The changes aim to protect monetary sovereignty and instill trust in the market.

While MiCA predominantly targets centralized Crypto-Asset Service Providers (CASPs) like exchanges and custodial wallets, it leaves decentralized tools and ecosystems largely untouched. Individuals using non-custodial wallets or decentralized finance platforms can still enjoy a degree of anonymity and control over their assets. Meanwhile, CASPs must comply with strict Anti-Money Laundering (AML) rules, register in the EU, and ensure robust consumer protection measures.

As MiCA’s enforcement progresses, stablecoin issuers and CASPs will need to adapt quickly to avoid losing access to the EU’s market. By December 2024, the full framework has come into effect, setting a new standard for crypto regulation worldwide.

Bitcoin ATH & More Records

In December 2024, Bitcoin reached an All-Time High (ATH) of $108,268 per unit, marking a growth of over 156% in the year [CMC]. Along with this, the whole crypto market capitalization increased by at least 124% in 2024. And here’s a fun little bit: Bitcoin wasn’t even the best performer of the year.

According to CoinGecko, Artificial Intelligence (AI) and, indeed, memecoins, were the most popular narratives in crypto during 2024. Most of the best performers were memecoins that don’t even have a proper whitepaper. Virtuals Protocol (VIRTUAL) led the crypto pack with a staggering 23,079% gain, fueled by its AI launchpad’s viral popularity. Brett (BRETT), a Base chain meme coin, followed with a 14,785% increase, making it the first meme token in its ecosystem to surpass $1 billion in market cap.

Meanwhile, Popcat (POPCAT), a Solana-based meme coin, climbed 10,459%, riding the wave of cat-themed crypto hype. According to CMC, though, the leading memecoin was Mog Coin (MOG), with an increase of over 11,699.5% in 2024.

Memecoins dominated the year, claiming 7 out of the top 10 spots, but they weren’t alone. MANTRA (OM), tied to real-world assets, and Aerodrome Finance (AERO), a decentralized exchange, gained 6,418% and 3,139%, respectively, proving utility-based tokens still have a strong place. In contrast, higher-ranked coins by market cap, like Ethereum (+53%), showed more modest increases.

Growing Adoption

As discovered by Chainalysis, global crypto adoption reached new heights in 2024, surpassing even the levels seen during the 2021 bull market. This growth was fueled by widespread interest across all income brackets, with Central and Southern Asia and Oceania (CSAO) leading the charge. India topped the rankings with a dynamic mix of retail and DeFi activities, followed by Nigeria, Indonesia, the United States, and Vietnam. Each of these regions brought unique use cases to the forefront, from merchant services to decentralized finance, illustrating how crypto has become a versatile tool in diverse economies.

Institutional interest also surged, with billions of dollars flowing into the crypto space. Venture capital investments in blockchain startups alone surpassed $2.4 billion in early 2024, signaling confidence in the technology's future. Firms like MicroStrategy continued to lead with massive Bitcoin holdings, while more than 70% of institutional players expressed plans to expand their crypto portfolios. This steady influx of capital underscores growing trust in digital assets as viable long-term investments, solidifying their role in the financial ecosystem.

Governments also played a pivotal role in shaping crypto adoption. In Latin America, El Salvador deepened its commitment to Bitcoin through partnerships with countries like Argentina, boosting the region's crypto innovation. Meanwhile, the incoming U.S. administration (led by Trump) is exploring the creation of a Bitcoin reserve and fostering pro-crypto policies. These initiatives highlight a broader trend of state-level and international efforts to embrace digital currencies as tools for economic growth and financial inclusion.

Growing Robbery, Too

Along with the growing market, crypto hacks and scams have remained a significant concern in 2024, with an estimated $2.2 billion stolen — a 21% increase compared to the previous year [Chainalysis]. Over 300 incidents were recorded, highlighting the persistent vulnerability in the digital asset space. A notable shift occurred as centralized services became primary targets in the second and third quarters, overtaking decentralized finance (DeFi) platforms.

North Korean hacking groups intensified their operations, stealing a record $1.34 billion in 2024, representing 61% of the year’s total stolen crypto. Their sophisticated strategies, including advanced malware and social engineering, have become a primary source of funding for Pyongyang’s weapons programs.

Hackers from North Korea carried out high-value attacks with alarming efficiency, often utilizing laundering methods like mixing services to obscure stolen funds. However, geopolitical shifts in the latter half of the year may be correlated with a noticeable decline in their activity.

Scams, particularly “pig butchering” schemes (romance scams), also dominated 2024. These scams involve cultivating trust through personal relationships before defrauding victims through fake investments. Trafficking and forced labor fuel some of these operations, often conducted in Southeast Asia.

With over $100 million funneled through a single Myanmar-based compound, the devastating impact of these scams is evident. As scammers continue evolving their techniques, individuals, and organizations must adopt stringent security practices to mitigate risks.

Obyte in 2024

In 2024, Obyte introduced several innovations to enhance its platform and expand its appeal. In January, we released the Pythagorean Perpetual Futures: tokens that are tied to asset prices and never expire, offering instant liquidity through bonding curves. They’re also versatile, and usable outside the Obyte app for payments or other DeFi applications. With governance tokens, users gain a say in system changes and can stake tokens for greater influence.

The native currency of Obyte, GBYTE, also saw increased adoption, being listed on two global crypto exchanges: NonKYC.io and Biconomy. NonKYC.io prioritizes user privacy, while Biconomy offers regulatory compliance and seamless trading through the Polygon network. These listings cater to different trader preferences, enhancing GBYTE’s accessibility and usability within the crypto ecosystem.

A significant network update in November improved spam protection with dynamic transaction fees and introduced infrastructure for sidechains. It also launched continuous on-chain voting for Order Providers and internal fees, empowering the community to oversee key network roles and features. These advancements boosted Obyte’s security, scalability, and decentralization.

What to Expect from Crypto in 2025?

In 2025, the cryptocurrency landscape is expected to keep evolving, driven by new regulations, innovative technologies, and market shifts. The U.S. government is likely to introduce clearer frameworks for crypto, with potential stablecoin legislation and pro-crypto policies. This could help stabilize the market, while new stablecoins designed to offer better features for holders may disrupt traditional models.

Tokenization seems to be another key trend, with growing interest in turning real-world assets like real estate and art into tradeable tokens. This move promises lower costs and greater liquidity, making asset ownership more accessible. The total market for tokenized assets could reach $2 trillion by 2030, according to the Venture capital firm ParaFi. Furthermore, advancements in AI could intertwine with crypto, leading to more AI-driven applications and agents capable of managing transactions across chains with increasing sophistication.

Memecoins, powered by viral hype, look set to stay and grow in number —and some, potentially, in prices. Meanwhile, the firm Bitwise has made bold Bitcoin price predictions for 2025, suggesting that Bitcoin could reach between $200,000 and $500,000. This potential surge is linked to the idea that the U.S. might establish its own strategic Bitcoin reserve. If this happens, likely, the whole crypto market would follow suit in the increase.

From Obyte, we’re planning to focus heavily on community building in 2025. We're working on creating new apps and engagement tools to strengthen the brand’s connection with loyal users and attract fresh participants. In the meantime, 2024 has allowed us to offer more decentralization, more options for users, and more community control. Let’s see what exciting things lie ahead!

Featured Vector Image by pikisuperstar/Freepik