As you might have heard, the cryptocurrency market has just entered into a tremendous bull market since late 2024, highlighted by Bitcoin finally surpassing $100,000 last December. A number of factors are pushing this recovery. From the advancements of layer 2 scaling solutions, the DeFi space entering a new boom, the regulatory environment becoming more clear, and individuals and institutions continuing to adopt these technologies at an accelerated pace.

Just in January 2024, for instance, the U.S. Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETFs. This decision was a major turning point that helped galvanize investor confidence. As of early 2025, an estimated 7.5% of the global population were active users of cryptocurrencies, a clear sign of mainstream acceptance.

Layer 2 solutions operate in tandem with primary blockchain networks such as Ethereum. More importantly, they have a huge impact in improving transaction efficiency. Ethereum’s Layer 2 networks, like Optimism and Arbitrum, have picked up impressive momentum. As of April 2025, over 13 million unique home addresses were connected and actively utilizing these networks.

2024 was a year of robust recovery for the DeFi sector. By the end of the year, Total Value Locked (TVL) reached almost $140 billion. However, this resurgence is a testament to the fact that decentralized financial applications and services are back in vogue.

At the same time, stablecoins have experienced an explosive expansion, especially in emerging markets where stablecoins are increasingly used for remittance payments. In 2024, stablecoins accounted for some $32 trillion in global transactions. Of that total, about $6 trillion was specifically for cross-border transfers, particularly important in areas like Latin America and Africa.

Regulatory actions have also played a crucial role in helping the market recover. The Markets in Crypto-Assets (MiCA) framework in Europe went fully live by December 2024, offering consistent and comprehensive regulations across all EU member states. Closer regulatory environment Just like the opportunity, the regulatory environment in the United States is improving — albeit slowly — offering more clarity and stability for legit crypto businesses.

Despite governmental missteps, institutional adoption is on a massive upsurge! The number of global merchants now accepting cryptocurrency payments has surpassed 15,174 including some big names like Microsoft, Tesla, AT&T, Starbucks, Shopify, PayPal. MicroStrategy remains the largest corporate holder of Bitcoin with an approximate 555,450 BTC on its balance sheet.