Learn Live ICYMI: 2024 Crypto Market Recap & 2025 Predictions
The past year in the crypto market has been an exciting one, with striking movement and major events. Anticipation for the 2025 crypto market is high — but will it soar to the moon or explode? Here, we take a look at what 2025 holds.
In the seventeenth episode of our Learn 101 livestream, we take a step back to look at Bybit’s achievements in 2024 and the crypto market as a whole, and analyze some of the key takeaways to be applied in 2025.
Our new series, Learn Live ICYMI, provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.
Joining the livestream on Dec 24, 2024, were two distinguished guests from Bybit: Joan Han, Head of Marketing and Card, and Maxim Orlov, VIP Team Lead. Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores the theme of 2025, Moon or Mayhem.
Key Takeaways:
Bitcoin’s price growth over the past year was rooted in institutionalization and the Trump effect on the crypto market.
Bybit achieved notable milestones in 2024 in terms of global users, daily trading volume and adoption of the Bybit Card.
New users may continue to be attracted to the crypto market as the crypto revolution expands and retail growth continues.
Crypto’s Wild Ride: Biggest Trends and Lessons from 2024
In 2024, Bybit experienced a significant surge in new users, a trend that Joan Han attributes to several key developments. The most notable was the impact of Donald Trump’s U.S. presidential election win, which drove interest in crypto as prices reacted positively. Additionally, the institutionalization of cryptocurrency and the launch of crypto ETFs played pivotal roles in attracting new traders and investors to the market. These factors combined to fuel price growth and activity, with monthly active crypto wallets increasing by an impressive 247% between January and December 2024.
Maxim Orlov emphasizes the transformative impact of ETFs on the crypto landscape. By normalizing crypto as a legitimate investment vehicle, ETFs are encouraging adoption among users who had previously stayed out of the market. This shift has been particularly evident in Bitcoin’s net inflows, which have outpaced those of other cryptocurrencies.
Han highlights how retail investors, already familiar with traditional ETFs, are being drawn to crypto ETFs. Packaging crypto assets in a familiar structure has inspired a wave of new interest, bringing the total value of crypto assets to over $44 billion to date. She also points out that increasing legislation and a growing comfort with the crypto market have further driven its adoption. Looking ahead, Han expects even greater growth in 2025 with the implementation of further regulations.
Maxim Orlov agrees, noting that recent regulatory developments have been a game-changer for the industry. He believes these measures are paving the way for widespread adoption, providing the foundation for sustained growth.
Bitcoin in particular has benefited from this evolving landscape. Han explains that confidence in Bitcoin has surged largely due to the influence of ETFs. While the market for altcoins has also grown, their progress has been comparatively slower. She predicts that Bitcoin will continue to dominate in the near term, but acknowledges the potential for an active altcoin season, which typically follows a Bitcoin rally. Among the fastest-growing altcoins are Hedera (HBAR), Bitget Token (BGB), XRP and Stellar (XLM). However, Han stresses that altcoins require fresh marketing strategies to sustain their growth.
Orlov echoes the importance of marketing, particularly for meme coins. He notes that growth in this sector depends upon how well projects can capture user interest. While meme coins remain a prominent trend, he suggests that the next big wave could emerge in GameFi.
Han also touches on the geopolitical dimension of crypto adoption. Trump’s suggestion of creating a strategic Bitcoin reserve has sparked interest from other nations, potentially driving further price growth. While Bitcoin has been sluggish during the holiday season, Han expects a renewed rally once the season concludes.
Biggest Wins, Boldest Moves: Bybit’s 2024 Highlights
Bybit has solidified its position as a global crypto leader, achieving remarkable milestones in 2024. With over 60 million users worldwide, the platform now boasts an average daily trading volume exceeding $100 billion. Bybit ranks as the second-largest crypto exchange by global trading volume, further cementing its status as a key player in the industry. Notably, Bybit made headlines by launching bbSOL, the world’s first exchange-backed liquid staking token (LST).
The Bybit Card has also seen tremendous growth, and is now available in Argentina, Brazil, the Netherlands, Europe and Australia, with over 1 million users enjoying its benefits. This expansion highlights Bybit's commitment to enhancing user experience and accessibility.
Orlov highlights crypto’s mainstream acceptance, noting that it’s no longer a niche interest. “Everywhere I go, people are aware of crypto, or at least of Bitcoin,” he says. Bybit’s success lies in its continual efforts to improve its products and platforms, building on the trust it’s cultivated among its users. Han emphasizes that this assurance stems from Bybit’s user-focused approach, including educational initiatives and innovative product offerings.
Bybit has also expanded its trading options to meet user demand. Investors now have access to Gold and FX trading, thanks to the introduction of multi-asset trading. According to Orlov, this feature was launched in response to users’ direct requests, demonstrating Bybit’s adaptability to investor needs. Han points out that the Bybit Card enhances user experience with attractive rewards, including higher returns and cashback.
As a standout offering, bbSOL represents a significant milestone. The first exchange-backed LST, it delivers competitive APY with rewards that can be redeemed anytime. This makes liquid staking on Solana not only accessible, but also highly rewarding for Bybit users.
Level Up: What's Next for 2025?
Retail investors must consistently dedicate time to identifying emerging trends in the ever-evolving crypto market. Fortunately, a wealth of information is readily available for users to explore. Orlov emphasizes the importance of diversification as a key strategy to safeguard assets. He also highlights a growing trend in adoption, driven by user-friendly products and the appeal of crypto assets that are simple for new investors to understand.
Looking ahead to 2025, Orlov advises closely monitoring both the crypto market and individual assets if an altcoin season arises. Bybit offers a wide variety of altcoins, each carefully vetted by the platform’s team. This rigorous research ensures that the altcoins listed on Bybit may present suitable investment opportunities for users seeking diversification.
Both Orlov and Han are optimistic about the year ahead for crypto and Bybit. Han predicts a surge in the number of new users entering the market, drawn by increasing accessibility and innovative products. Meanwhile, Orlov envisions an ongoing crypto revolution as the market continues to grow and mature.
Closing Thoughts
This session of the Learn 101 livestream has provided valuable insights into what lies ahead for 2025 — whether it’s to be "Moon or Mayhem." As the crypto landscape evolves, staying informed is your best strategy for navigating the market.
To celebrate the end of the year, Bybit is holding an exclusive event in which you can earn a share of a 10,000 USDT prize pool! Simply register for the event and trade over 100 USDT with Bybit in order to claim your reward.
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