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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: |
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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
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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 |
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Meanwhile, the $ETH ETFs have recovered from a rocky start to pull in net-inflows of $2.3B |
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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! |
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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. 👇 |
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Oh, and we saw our first AI-chatbot-turned-memecoin-millionaire! |
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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. |
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4/ Trump wins, vows to support crypto, market goes berserk, $BTC hits $100k! |
What the data predicted… |
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How it actually went… |
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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. 👇 |
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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. |
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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. |
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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. |
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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. |
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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! 👇 |
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YouTube | Spotify | Apple Podcasts |
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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. |
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MILKY MEMES 🤣 |
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ROADIE REVIEW OF THE DAY 🥛 |
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VITALIK PIC OF THE DAY |
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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. |
