Crypto Market 2024, Key Insights from Messari Report

- Bitcoin surpasses $100K in 2024 as it emerges as a safe haven amidst inflation fears and central bank policy uncertainties -Solana's technical advancements and AI-driven market dynamics reshape crypto adoption, despite regulatory hurdles and market volatility [Unblock Media] Messari described 2024 as "climbing the wall of worry." It was a year where investors were concerned due to fears of inflation and recession risks, but the price of Bitcoin surpassed $100,000. This was because Bitcoin gained attention as a safe asset amid uncertainty regarding inflation and central bank monetary policies. Bitcoin has been considered digital gold when the value of traditional currency declines, attracting significant interest from investors. As a result, the price of Bitcoin saw a substantial increase. Solana also achieved remarkable growth through technological advancements. Thanks to Solana's Firedancer client and high throughput, Solana established itself as a hub for meme coin trading. This allowed retail investors to trade faster and more efficiently, and Solana's rapid transaction speed and low-fee structure drew in more users. The cryptocurrency market in 2024 was also influenced by AI-driven productivity improvements. AI was utilized to analyze cryptocurrency charts and suggest investment strategies, and it made trading more secure and efficient through the automation of smart contracts. The introduction of AI-based trading algorithms reduced the volatility of the cryptocurrency market and increased market liquidity. Globally, user adoption surged, attracting millions of users to apps like Phantom and Polymarket. Phantom gained popularity due to its user-friendly interface and low fees, which was achieved through optimization with the Solana network. However, regulatory issues and market volatility were also mentioned. The Binance lawsuit, government asset sales, and Mt. Gox repayments created anxiety due to the opaque standards of regulatory authorities. These were major causes of increased market volatility, but the industry overcame challenges through resilience and innovation. According to Messari's analysis, the connection between AI and cryptocurrency is expected to become even more significant in 2025. Additionally, technological advancements like those in Solana will continue to gain attention. With the likelihood of continued Bitcoin price increases and inflation concerns, interest in the cryptocurrency market, including Bitcoin, is expected to persist.