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2024 saw crypto markets dramatically mature

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2024 was a landmark year for the cryptocurrency market. It was a year when the market matured, barriers to the institutional investing world came down, and international regulations started to pave the way for digital currencies to enter the mainstream global financial system. 

With a President-elect keen on making the US a global crypto hub, the market experienced significant growth. As crypto adoption rose, more users turned to crypto platforms and ETFs to invest. 2024 was a transformative experience for the crypto market and the blockchain technology that powers it. 

The general public, buoyed by positive sentiment and rising crypto prices, has flocked to DeFi platforms to download their first wallet. Many of those new users have found their way to the highly trusted crypto brand Binance.

It takes a leader to help an industry continue to mature and Binance CEO Richard Teng has taken on that role throughout 2024’s massive growth. Teng commented on his leadership and the future, “we have served in the best interests of our users since day one, leading the industry’s standard and continue building the future of the industry responsibly.”

Binance accounts for approximately 50% of all trading volume globally. This number has only increased from Jan-Nov 2024. During the 2024 US Presidential election week, Binance captured $7.7 billion out of the $20 billion total inflows across all exchanges. Combine that with the leading crypto exchange reaching a new milestone surpassing 200 million users and safeguarding over $130 billion in user assets.

So, these are exciting times for the crypto industry that come off the back of a lot of hard work in 2024. The highlights of the year included: 

Institutional Involvement and Widespread Adoption

In 2024, BlackRock launched its spot Bitcoin ETF IBIT, before bringing options to the table on November 19th 2024, and broke all the records on day one with 354,000 contracts traded and $1.9 billion in notional value. This was a landmark moment for the crypto industry, but it came at the end of a year of institutional investment. 

Pension funds, hedge funds, and sovereign wealth funds have worked hard into crypto this year as they try to take advantage of the growth potential and protect against problems with fiat currency. They follow on the heels of Goldman Sachs, Morgan Stanley, and Fidelity Investments, who all offer Bitcoin as part of their Wealth Management services.

Institutional investment has curbed market volatility, and this year, Bitcoin emerged as one possible protection against inflation. New clarity with the regulations, improved custody solutions, and advanced risk management frameworks all gave the institutions the confidence to jump into crypto feet first in 2024. 

The Rise and Rise of DeFi

Decentralized Finance (DeFi) is changing the world we live in and providing a real alternative to traditional banking. The world’s unbanked poor and privacy-obsessed High Net Worth Individuals alike have discovered the delights of downloading a crypto wallet and sending money with low fees and no questions. 

According to one recent study, the global DeFi market should be worth almost $440 Billion in 2030, up from just over $20 billion in 2023. 

We can now tokenize any asset, from real estate and fine art to cars and stocks, to create more liquidity without the help of a traditional bank. This is opening up new methods of borrowing, saving, lending, and earning interest that put the power in the hands of the people.

Unbanked individuals around the world can have access to basic financial services, including sending and receiving money from friends or families, without huge fees. We are also seeing an ecosystem of liquidity pools and borrowing facilities open up that can change the world of finance. 

Retail Market Integration

In the background, the Web3 technology that underpins the crypto market has found a home with DeFi platforms, as well as retail and e-commerce. Blockchain technology is now the foundation of supply chain management, healthcare providers, and numerous company processes. If the blockchain continues to take over corporate and public life, then the tokenized crypto ecosystem has to go with it. 

Retailers are increasingly relying on the blockchain, with Starbucks using it to trace their coffee from the farm to the cup and Nike tokenizing each pair of sneakers on its Swoosh platform for authenticity and traceability.

In October 2023, Ferrari started accepting crypto payments for its high-end sportscars, joining the likes of Tesla, PayPal, Shopify, and Microsoft. This is a slow process, but crypto has slowly acquired the social proof it requires to break through with mainstream retailers. The blockchain that forms its foundations and is becoming such a mainstream hit was an unexpected bonus. 

Regulatory Frameworks: Chaos to Clarity

Fragmented regulations that change from country to country are terrible for the crypto industry, and 2024 was the year it finally got its house in order. The Financial Stability Board, International Monetary Fund, and World Economic Forum helped guide disparate countries towards one set of standard practices for crypto taxation, Anti Money Laundering compliance, and consumer protection. A simple foundation of regulations that works across borders could work wonders for the industry. We’re not there yet, but we are getting closer. 

Technological Advancements Driving Maturity

It isn’t just the political landscape that had to change to give the crypto market a shot at mass adoption. Real technical issues with the early blockchain systems kept them as a niche interest rather than an everyday occurrence. 

Blockchain congestion, slow transactions, high energy consumption, and scalability were all real issues. Ethereum 2.0 and Layer 2 solutions mean that Ethereum, the most ubiquitous blockchain by far when it comes to dApps and Web3 technology, is now much more scalable, with lower fees and less blockchain congestion. Solana and alternative blockchains like BNB Smart Chain also offer alternative solutions, with blockchain bridges seamlessly connecting the networks.

AI integration has already changed the world of trading, analytics, risk management, and supply chain management. Artificial Intelligence has unlocked another level of performance from Web3 technology and automated complex processes that can streamline almost any company. 

Conclusion

These factors have all combined to create a market that is ready, willing, and waiting for mass adoption. Institutional adoption, regulatory clarity, cultural acceptance, and technical improvements have all helped the cryptocurrency industry go from a sideshow to a central player in 2024. We have not seen anything yet, and next year could be the biggest yet. 



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FTX Survey Shows Crypto ReInvestment and Possible Bias

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According to a new survey of FTX creditors, 79% plan to reinvest their payments into crypto. More than half of them plan to buy Solana, and meme coins and AI tokens are also popular.

However, a deeper look into the survey’s methodology suggests a strong bias toward Solana enthusiasts. While some participants may have a genuine interest in other assets, their preferences might not reflect the broader sentiment of all FTX creditors.

FTX Creditors are Likely to Reinvest Funds into Crypto

Since the FTX collapse in 2022, the residual fallout has left deep marks on the crypto space. Earlier this month, liquidators announced that creditors would start getting reimbursed on February 18. Although this caused bullish hype beforehand, market hopes sank when investors began acting skittishly.

However, a new survey claims that most FTX creditors will reinvest in crypto:

“79% of FTX creditors plan to reinvest their repayments into cryptocurrencies, with an average of 29% of their repayment funds allocated for this purpose. 62% intend to buy Solana. One-third of FTX creditors plan to allocate their repayments toward meme coins, and 31% of creditors are prioritizing AI-related cryptocurrencies,” its results claim.

On the surface, this FTX survey looks very bullish, especially for Solana. When the reimbursements began, the exchange’s creditors showed a strong propensity to secure their funds immediately.

However, if these results are accurate, it would be a shot in the arm for several assets. Solana, in particular, has suffered a difficult month and could greatly benefit from fresh investors.

Solana Monthly Price Performance. Source: BeInCrypto

Unfortunately, however, this bullish vision may not materialize. In its methodology, the FTX survey acknowledged that “there is a possibility of biases.”

Apparently, creditors were only eligible if at least 10% of their portfolio consisted of Solana or if they held $100 worth of SOL for over a year. In other words, it seems obvious that eligible participants would be interested in Solana.

Even if the FTX survey is biased in this regard, its data may still be useful in other ways. For example, meme coins have had a tough time in February, and the AI crypto market isn’t looking much better.

If some of these Solana enthusiasts spend their reimbursements on these tokens, it could be a lifeline. However, it’s not a good barometer for the broad pool of FTX creditors.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top AI Coins From This Week: IP, CLANKER, $DOGEAI

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Story (IP), CLANKER, and DOGEAI are the top-performing AI coins of the third week of February 2025. Story has surged 150% in the last seven days, becoming the 7th largest AI cryptocurrency with a market cap of $1.1 billion.

CLANKER is up 130%, gaining traction as a launchpad on the Base chain, while DOGEAI has risen nearly 70% by leveraging the Dogecoin and AI narrative.

Story (IP)

Story has emerged as the clear winner among AI coins and altcoins in general, soaring 150% in the last seven days. Its market cap has reached $1.1 billion, making it the 7th largest AI cryptocurrency, surpassing VIRTUAL and GRASS.

Story operates as a Layer 1 blockchain designed to transform intellectual property into a programmable store of value. The chain aims to enable creators to tokenize their intellectual property, allowing it to be bought, sold, and traded.

Price Analysis for IP.
Price Analysis for IP. Source: TradingView.

If Story (IP) continues its bullish momentum, the token could soon test resistance levels around $6 or even $7. However, after such a massive surge, a pullback is also possible as investors take profits.

If a downtrend emerges, Story has key support at $3.65, and losing this level could lead to a drop toward $2.12 or even $1.36. These levels are crucial in determining whether the current rally is sustainable or just a temporary spike.

tokenbot (CLANKER)

CLANKER has surged 130% in the last seven days, bringing its market cap to $74 million. It also surged in the last 24 hours after Coinbase added it to its listing roadmap. Similar to Pumpfun, CLANKER serves as a launchpad for new coins but is built on the Base chain.

In the last few days, CLANKER has seen a significant boost in activity, with its daily volume skyrocketing from $2.6 million on February 17 to $47 million on February 19.

Additionally, daily traders jumped from 1,200 on February 16 to 5,600 on February 19. However, these numbers are still far from the platform’s peak of 23,400 daily traders recorded on November 26, 2024.

Price Analysis for CLANKER.
Price Analysis for CLANKER. Source: TradingView.

CLANKER’s EMA lines indicate a strong uptrend. If this momentum continues, it could test the resistance at $81.49 soon. Breaking this level could push the price towards $90 or even $105, its highest level since early 2025.

Conversely, if the uptrend loses steam, CLANKER could fall to the support at $61.62. Breaking below this price could lead to a drop to $45.6.

In a stronger downtrend, CLANKER could drop as low as $25.78, highlighting the volatility and potential risks in the current market environment.

DOGEai ($DOGEAI)

$DOGEAI has surged nearly 70% in the last seven days, and its market cap has reached $28 million.

It tries to leverage different narratives, like Dogecoin popularity, the attention DOGE (Department of Government Efficiency) is receiving, and the broader AI coins narrative. This strategic positioning has contributed to its rapid rise, drawing significant attention from traders and investors alike.

$DOGEAI defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions.” It provides bill summaries and insights into government spending.

Price Analysis for $DOGEAI.
Price Analysis for $DOGEAI. Source: TradingView.

Initially launched on Pumpfun, $DOGEAI is now tradable on Raydium, on the Solana chain.

$DOGEAI currently has close support at $0.03, which is crucial to maintaining its upward momentum. If this support is tested and lost, it could drop to $0.018 or even as low as $0.0092.

Conversely, if $DOGEAI continues to attract attention and buying pressure, it could test the resistance at $0.048. Breaking this level could push the price to $0.069.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Onyxcoin (XCN) Technical Indicators Hint at Major Breakout

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Onyxcoin (XCN) has fallen 16% over the past seven days, although it’s up by 52% in the last 30 days. The XCN Relative Strength Index (RSI) is currently at 40.1, indicating mild bearish momentum but not strong enough to signal overselling.

Meanwhile, the Average Directional Index (ADX) has declined to 15.1, suggesting that the downtrend is losing strength and could lead to a period of low momentum. Despite the ongoing bearish trend, the Exponential Moving Average (EMA) lines show a possibility for XCN to challenge key resistance levels and potentially surge by up to 30% before March if bullish momentum picks up.

XCN RSI Has Been Neutral Since February 12

XCN’s Relative Strength Index (RSI) is currently at 40.1 and has remained below 50 for the past 5 days without dropping to the oversold level of 30.

This indicates that XCN has been experiencing mild bearish momentum as it stays under the neutral 50 mark.

However, the fact that it hasn’t touched the 30 levels suggests that selling pressure is not overwhelming, potentially signaling a consolidation phase or a weakening of the bearish trend.

XCN RSI.
XCN RSI. Source: TradingView.

RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100. Typically, an RSI above 70 is considered overbought, indicating that an asset may be due for a correction or pullback.

At the same time, an RSI below 30 is seen as oversold, suggesting a potential buying opportunity as the asset could be undervalued.

With XCN’s RSI at 40.1, it is in a cautious zone where the bearish sentiment exists but isn’t particularly strong. This could mean the price is in a consolidation phase, waiting for a catalyst to determine the next direction.

If buying interest picks up, XCN could move towards the 50 mark, signaling a potential reversal to bullish momentum. Conversely, if it continues to weaken, a drop below 30 would indicate increased selling pressure and a possible continuation of the downtrend.

Onyxcoin ADX Shows the Downtrend Is Easing

Onyxcoin, which is built on Arbitrum, currently has an Average Directional Index (ADX) of 15.1 after reaching a peak of 29.4 just four days ago. Since then, the ADX has been declining steadily, indicating a weakening trend.

The drop below 20 suggests that the downtrend, which has been present over the last few days, is losing momentum.

While Onyxcoin price is still in a downtrend, the declining ADX indicates that the strength of this bearish movement is diminishing, potentially leading to a period of consolidation or a slowdown in selling pressure.

XCN ADX.
XCN ADX. Source: TradingView.

ADX is an indicator used to measure the strength of a trend, regardless of its direction. It ranges from 0 to 100, with values below 20 indicating a weak or non-existent trend and values above 25 suggesting a strong trend, either bullish or bearish.

When ADX is rising, it signals strengthening momentum, whereas a declining ADX suggests weakening trend strength. Onyxcoin’s ADX at 15.1 suggests that the current downtrend is losing power and the market is entering a phase of low momentum.

This could lead to a period of price consolidation or even a potential reversal if buying interest returns. However, as long as the ADX remains below 20, any price movements are likely to be weak and lack significant directional strength.

Can Onyxcoin Surge 30% Before March?

Between January 15 and January 26, the XCN price surged more than 1,300%, making it one of the best-performing altcoins of January. However, its price started to decline after that.

Onyxcoin’s Exponential Moving Average (EMA) lines indicate that the bearish trend is still present, but the downward momentum is not as strong as it was some days ago.

This suggests that selling pressure has eased slightly, though the bears still hold control. If selling pressure persists, XCN could test the support level at $0.017.

XCN Price Analysis.
XCN Price Analysis. Source: TradingView.

A break below this support could open the path for a deeper correction towards the next key support at $0.014.

Conversely, if the bearish momentum fades and a trend reversal occurs, XCN could challenge the close resistance at $0.021. A break above this level would signal a potential shift in market sentiment, leading to a rally towards the next resistance at $0.025.

Should bullish momentum build further, XCN could target $0.0339, representing an upside of nearly 30% from current levels.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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