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The 2024 Crypto Market's Unforgettable Moments
As 2024 draws to a close, standing at the watershed between the old and the new, this is the best time to look back on the journey of the crypto market over the past year. This year, the market has witnessed countless peaks and valleys, moments of euphoria and terror, weaving a dramatic tapestry of "monsters and demons."
The following will review the "monsters and demons" moments the crypto market has gone through in 2024.
A kid issued a token called Quant on the token launch platform Pumpfun, and cashed out when the token's market value reached $586,000, netting about $30,000. Excited and thrilled by his huge profits, he didn't know that after he sold his position, Quant continued to skyrocket, and if he had held on, his profits would have reached $3.09 million.
The meme coin project SLERF on the Solana blockchain successfully raised $10 million in pre-sale, but accidentally burned all the pre-sale investors' funds during the launch, with the SLERF founder publicly apologizing and admitting they messed it up. Surprisingly, this caused SLERF to reach a market cap of $660 million in a single day.
Australian rapper Iggy Azalea issued the meme coin MOTHER in late May, unexpectedly sparking a celebrity meme coin issuance craze, even drawing criticism from Ethereum co-founder Vitalik Buterin, who said these coins are just to enrich celebrities and early users, without any real utility.
a16z founder Marc Andreessen donated $50,000 to the AI chatbot Truth Terminal, unexpectedly propelling the emergence of GOAT, making the AI Agent meme coin a new focus of the market.
<$LUIGI Meme Coin Skyrockets>
Luigi Mangione, a handsome Ivy League high-achiever, was arrested for murdering the CEO of UnitedHealthcare, Brian Thompson, but was hailed as a hero by the American public, and the $LUIGI meme coin skyrocketed to over $85 million in market cap in a single day.
<$Pepe Hits $11 Billion Market Cap>
The Pepe the Frog-themed meme coin $Pepe, built on Ethereum, surged 1393.2% in 2024, reaching a market cap of $11 billion at one point, and was listed on Coinbase and Robinhood, becoming one of the most prominent meme coins of 2024.
In addition to the above "monsters and demons" moments, the crypto market in 2024 also had some other unforgettable moments, including the launch of the Bitcoin spot ETF, Bitcoin breaking $100,000, Ethereum's poor performance, CZ's imprisonment, and Musk being appointed to lead the Department of Government Efficiency (DOGE), all of which were important milestones in the crypto market in 2024 - both jaw-dropping and thought-provoking.
It's worth noting that Taiwan's crypto circle also had its unforgettable moments in 2024.
CZ, the Chief Blockchain Financial Crime Investigator of XREX, Passed Away Unexpectedly
First, CZ, the Chief Blockchain Financial Crime Investigator of XREX, unfortunately encountered a serious car accident and passed away in December, which deeply saddened the entire crypto community in Taiwan, a significant loss for the Taiwanese blockchain industry. She specialized in virtual currency and blockchain money laundering crime prevention and investigation techniques, and had previously assisted prosecutors and police in investigating multiple large-scale cryptocurrency crimes. Her unexpected passing sparked conspiracy theories.
Taiwan Commentator Hyped that Ke Wen-je Owned Bitcoins
Secondly, the former Taipei mayor and chairman of the People's Party, Ke Wen-je, was involved in the Jinhua City case, which became a hot topic in Taiwanese society in 2024. In the search of Ke's residence, the prosecutors found a USB drive containing the record "2022/11/1, Xiao Shen, 1500", which was considered in the indictment as Ke's suspected receipt of 15 million NTD from Shen Qing-jing, the chairman of the Weijing Group.
However, during the investigation, Taiwan commentators, including Wu Tzu-chia, the chairman of the Formosa Plastics Group, and Chen Min-feng, a senior media person, repeatedly claimed that the 1500 Ke received was in Bit, not NTD. But with the press release and indictment from the Taipei Prosecutors Office, these statements were proven to be exaggerated and unfounded.
