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With Bitcoin passing the $100K mark, you don't need us to tell you that 2024 was a good year. For seasoned crypto folks (degens), this year was somewhat of an inevitability but for newbies, 2024 might have presented a lightbulb moment.
According to a new Binance survey of 27,230 respondents, almost 45% of respondents joined the crypto space in 2024. 24.52% entered within the last six months, while 20.60% joined earlier in 2024.
Over the last six months, the industry has seen Bitcoin surpass $100,000 and of course, Donald Trump's election win. Already laying the groundwork for a pro-crypto Presidency, Trump has promised the industry the moon, and in response, the industry has mooned accordingly.
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In early 2024 and pre-Trump, the industry was treated to the approval of Bitcoin ETFs, which have taken the TradFi market by storm and consequently fuelled the crypto industry's rise throughout the year.
Elsewhere in Binance's report, 31.09% of users said they trade daily, with 22.91% trading weekly. 43.97% of respondents have less than 10% of their wealth in crypto, while 24.33% hold 10–25%.
Looking ahead, 19.39% foresee increased regulation, while 16.51% anticipate broader blockchain adoption in real-world applications. Increased institutional investor involvement is anticipated by 16.1% too.
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Although crypto had a successful year, it's hard to ignore the AI industry which blossomed fully in 2024. As a result, AI tokens are expected to lead the market, with 23.89% of respondents predicting significant growth.
To the delight of degens, 19.09% believed that memecoins would dominate the market in 2025, slightly behind AI. Interestingly, memecoins seem to be the most popular tokens to be held by respondents, ahead of Bitcoin and Ethereum at 16.1%, 14.44%, and 10.95% respectively.
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BRN analyst Valentin Fournier explained that the strength of memecoin trading cannot be underestimated.
"While we don't believe the frenzy can withstand a bear market, memecoin trading is nothing less than an online casino driven by a strong community feeling. This alone can sustain strong transaction levels, even if markets were to go down," he said.
