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GM. This is Milk Road – we just looked back on 2024 and shed a single tear of happiness (like your dad when he looks at his front lawn).
Here’s what we got for you today:
- ✍️ 2024 year in review
- ✍️ Honorable mentions
- 🎙️ The Milk Road Show: 2024 in Crypto: The Year That Changed Everything w/ Kyle Reidhead
- 🍪 Uniswap’s layer 2 is expected to launch early 2025
Prices as of 9:00 AM ET. Click here for our Fear & Greed Index.
2024 YEAR IN REVIEW 📖
It’s that time of year!
The time when we look back at the long and winding (milk) road we traversed in 2024.
Let’s break this sucker into two parts:
- The major events
- The honorable mentions
Starting with major events…
1/ 2024: The year of the crypto ETF
The Bitcoin ETFs have absorbed $36.1B worth of net-inflows so far this year
Meanwhile, the $ETH ETFs have recovered from a rocky start to pull in net-inflows of $2.3B
Bringing the total net-inflows of the US-based crypto ETFs up to $38B+.
A MASSIVE outperformance compared to the initial TradFi predictions of $10B of net-inflows (for the $BTC ETFs alone) at the beginning of 2024.
2/ Narrative of the year: Memecoins
$WIF was the first big memecoin of 2024 to really kick the hornet’s nest, reaching a $4B+ market cap within four months of its launch!
From there, insanity ensued – fueled in large part thanks to Pump.Fun, which was pulling in up to $93M in monthly revenue at one point!
Due mostly to its livestream feature ‘bringing the weird’ in bulk. 👇
Oh, and we saw our first AI-chatbot-turned-memecoin-millionaire!
3/ Gary Gensler announces retirement
The veil of regulatory obscurity that has been draped over the face of the US crypto industry is set to be lifted on Jan 20th.
4/ Trump wins, vows to support crypto, market goes berserk, $BTC hits $100k!
What the data predicted…
How it actually went…
So far, so good!
5/ Bitcoin halves → liquidity increases → bull run starts
In April, the amount of new $BTC entering the market each day got cut in half. A few months later, central banks around the world began pumping fresh cash into the market.
Meaning more money could find its way into Bitcoin (an increasingly scarce asset).
Increased demand + lowered supply = welcome to the Banana Zone. 👇
Alright, that’s everything…for now.
In the next article, we’re going to cover the honorable mentions across the Ethereum ecosystem, government related events, web2/TradFi adoption, and mass market milestones!
All you need to do is scroll…
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2024 YEAR IN REVIEW (HONORABLE MENTIONS) 📖
1/ Ethereum Ecosystem
Ethena launches the fastest growing stablecoin of all-time, Ethereum completes its Dencun upgrade → Ethereum becomes cheaper to transact on, Vitalik got a GF.
2/ Government related events
Polymarket calls the election, Germany sells its $BTC right before all-time highs, DOGE goes from memecoin to government agency, US government wins its case against CZ/Binance → CZ goes to jail → CZ gets out.
3/ Web2/TradFi adoption
Stripe acquires Bridge for $1.1B (the largest crypto acquisition ever), Microstrategy’s ‘Bitcoin Strategy’ starts to be adopted by other companies.
4/ Mass market milestones
Helium partners with AT&T → onboarding web2 users into web3 (without them knowing it), TikTok mania drives $CHILLGUY to become the fastest adopted crypto of all-time.
Alright, that’s just about all the typing we can handle right now…
Want a deeper dive on the year that was 2024, and the lessons worth taking from it?
“Mr. Bossman” himself (Kyle Reidhead) joined us on today’s episode of The Milk Road Show to dig into:
AI agents, memecoins, super cycles, ETFs, Ethereum performance, regulatory struggles, and the winning apps of the year!
Check it out below! 👇
YouTube | Spotify | Apple Podcasts
BITE-SIZED COOKIES FOR THE ROAD 🍪
We just dropped our Christmas gift guide. Got a hard-to-shop-for degen in your life? Or maybe a frumpy uncle you’re looking to orange pill? This guide covers it all.
Metaplanet buys Bitcoin (again). What’s the similarity between me and Metaplanet? We both bought the dip today.
Chainlink goes degen. Several memecoins, like $SHIB, $CAT and $MOG, were added to Chainlink’s services over the weekend.
Unichain, Uniswap’s layer 2, is expected to go live in early 2025. This is definitely gonna be one of the key things to look out for in 2025.
2024 was a big year for hackers. Investors lost a total of $2.3B to crypto theft in 2024. Not the kind of headline anyone likes to read. Yikes. - DL News
We’re hiring! Calling the brightest minds in crypto to join our team but hurry, there’s only 4 roles left.
Milk Road’s Bitcoin Price page offers real-time pricing for $BTC, keeping you updated on every move. With a clean layout and reliable data, it’s perfect for those closely tracking Bitcoin’s market activity.
MILKY MEMES 🤣
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
