2024年加密行业回顾

2024 年对于加密行业来说是动荡的一年。比特币现货ETF推出，机构加速采用，带来行业繁荣

2024 was a year of great change for the crypto industry. Many things happened in the crypto market. Changes in the industry structure and fluctuations in market sentiment are shaping the unique industry landscape of this year.

2024 年是加密行业发生巨大变化的一年。加密货币市场发生了很多事情。行业结构的变化和市场情绪的波动正在塑造今年独特的行业格局。

Bitcoin performed particularly well this year, with a price increase of more than 110%, highlighting the unique charm and potential of cryptocurrency as an emerging investment field.

比特币今年表现尤为出色，价格涨幅超过110%，凸显了加密货币作为新兴投资领域的独特魅力和潜力。

At the beginning of the year, the U.S. Securities and Exchange Commission (SEC) approved the listing application of the first Bitcoin spot ETF. This milestone decision marked the official entry of crypto assets into the mainstream financial market. Funds poured in like a tide, pushing the price of Bitcoin to a record high in March. The enthusiasm of institutional investors and the high recognition of the market laid a solid foundation for the prosperity of the cryptocurrency market throughout the year.

今年年初，美国证券交易委员会（SEC）批准了首只比特币现货ETF的上市申请。这一里程碑式的决定标志着加密资产正式进入主流金融市场。资金如潮水般涌入，推动比特币价格在3月份创下历史新高。机构投资者的热情和市场的高度认可为全年加密货币市场的繁荣奠定了坚实的基础。

At the end of April, Bitcoin ushered in the fourth halving event in history, which once again highlighted the unique status of Bitcoin as a scarce asset. Although the market did not continue to strengthen after the halving, but entered a correction period after May, historical data shows that the supply reduction effect brought about by the halving cannot be ignored in the long-term promotion of Bitcoin prices, and has become an important catalyst for market optimism in 2024.

4月底，比特币迎来历史上第四次减半事件，再次凸显了比特币作为稀缺资产的独特地位。虽然减半后市场并未继续走强，而是进入5月份后的回调期，但历史数据显示，减半带来的供给减少效应在比特币价格的长期推动中不可忽视，已成为比特币价格的长期推动因素。 2024年市场乐观的重要催化剂。

Around the middle of the year, the crypto market began a painful adjustment period. Affected by multiple factors such as global macroeconomic uncertainty, geopolitical conflicts and the German government's sell-off, market volatility intensified, and major market indicators fell sharply from the highs in the first half of the year. Altcoins even fell to the lows of the bear market. The industry faced a difficult period and skepticism arose.

年中前后，加密市场开始了痛苦的调整期。受全球宏观经济不确定性、地缘政治冲突以及德国政府抛售等多重因素影响，市场波动加剧，主要市场指标较上半年高位大幅回落。山寨币甚至跌至熊市低点。该行业面临困难时期，质疑声不断出现。

During this period, the listing of Ethereum spot ETF brought a glimmer of hope to the market, but failed to replicate the rise of Bitcoin ETF. Ethereum and its ecosystem, which were highly expected, led the decline. When market sentiment was low, Meme coin emerged with its unique value capture model and community consensus, becoming an emerging track with a market value of over US$100 billion, triggering in-depth discussions on its core value in the industry.

在此期间，以太坊现货ETF的上市给市场带来了一线希望，但未能复制比特币ETF的崛起。被寄予厚望的以太坊及其生态系统领跌。在市场情绪低迷的时候，Meme币以其独特的价值捕获模式和社区共识脱颖而出，成为市值超千亿美元的新兴赛道，引发行业对其核心价值的深入讨论。

In September, the global financial market ushered in a major turning point. The Federal Reserve cut interest rates for the first time in four years, forcing major central banks around the world to follow suit and release money, and the world entered a relatively loose monetary policy environment. The interest rate cut cycle is often closely related to the rise in risky asset prices. After a period of downturn, the confidence in the crypto market began to boost. The trading volume and the total supply of stablecoins showed signs of recovery to a certain extent, and the market funds and activity have recovered.

9月，全球金融市场迎来重大转折。美联储四年来首次降息，迫使全球主要央行纷纷效仿释放资金，全球进入相对宽松的货币政策环境。降息周期往往与风险资产价格上涨密切相关。经过一段时间的低迷之后，人们对加密货币市场的信心开始提振。稳定币的交易量和总供应量出现一定程度的复苏迹象，市场资金和活跃度有所恢复。

The fourth quarter was a historic moment for the crypto market. During the US election, the topic of cryptocurrency took center stage on the US political stage for the first time. The Trump team’s explicit commitment to promote a more friendly regulatory framework greatly stimulated market sentiment, and the “Trump trade” continued to heat up and continued to ferment after his victory.

第四季度是加密货币市场的历史性时刻。美国大选期间，加密货币话题首次登上美国政治舞台的中心舞台。特朗普团队明确承诺推动更加友好的监管框架，极大刺激了市场情绪，“特朗普贸易”在其获胜后持续升温并持续发酵。

Since then, Trump has successively appointed crypto supporters as heads of various departments, such as the Secretary of the Treasury, Secretary of Commerce, Chairman of the SEC, leader of the Department of Government Efficiency, and head of cryptocurrency affairs, and promoted the Bitcoin Strategic Reserve Plan in various states, stimulating the price of Bitcoin to rise steadily and break through the $100,000 mark for the first time in history. Bitcoin and other cryptocurrencies have not only achieved a leap in value at the economic level, but have also gained unprecedented recognition and attention at the political and social levels.

此后，特朗普陆续任命加密货币支持者为财政部长、商务部长、SEC主席、政府效率部负责人、加密货币事务负责人等各部门负责人，并大力推动比特币的发展。各州战略储备计划，刺激比特币价格稳步上涨，历史上首次突破10万美元大关。比特币等加密货币不仅在经济层面实现了价值的飞跃，在政治和社会层面也获得了前所未有的认可和关注。

On January 20, 2025, the United States will hold the presidential inauguration ceremony, and Trump will officially take office. Compared with the Biden administration, the new administration led by Trump is more friendly to the crypto market. The increasingly open and transparent regulatory environment will provide broad imagination space for the future of the crypto market, and the market is highly concerned and looking forward to it.

2025年1月20日，美国将举行总统就职典礼，特朗普正式就职。与拜登政府相比，特朗普领导的新政府对加密货币市场更加友好。日益开放透明的监管环境将为加密市场的未来提供广阔的想象空间，市场高度关注和期待。

1. Promotion of the Bitcoin Strategic Reserve Plan

一、比特币战略储备计划的推进

Trump's idea of "US Strategic Bitcoin Reserve" is undoubtedly one of the most noteworthy focuses in 2025. If Bitcoin obtains strategic reserve status, it will achieve a gorgeous transformation from a niche market asset to a public asset of the treasury, and its legitimacy and recognition will be greatly improved. As a strategic reserve asset, Bitcoin will fight side by side with traditional assets such as gold and foreign exchange reserves to provide protection for national economic stability and financial security.

特朗普提出的“美国战略比特币储备”构想无疑是2025年最值得关注的焦点之一。如果比特币获得战略储备地位，将实现从小众市场资产到国库公共资产的华丽转变，其合法性和合法性也将得到保障。辨识度将会大大提高。比特币作为战略储备资产，将与黄金、外汇储备等传统资产并肩作战，为国家经济稳定和金融安全提供保障。

Trump has repeatedly raised the idea of establishing a national Bitcoin reserve during his campaign, and recently hinted at the creation of a Bitcoin reserve in an interview at the New York Stock Exchange. Whether this ambitious proposal can be implemented in the short term remains to be seen, but it is expected to be actively promoted in 2025. Any remarks by Trump suggesting that this plan is being promoted will bring obvious upward support

特朗普在竞选期间多次提出建立国家比特币储备的想法，最近在纽约证券交易所接受采访时暗示要建立比特币储备。这项雄心勃勃的提议短期内能否实施还有待观察，但预计将在2025年积极推进。特朗普任何表明正在推进该计划的言论都将带来明显的上行支撑