2025 is fast approaching as the crypto market is already gearing up for the last quarter of 2024. The last three quarters of the year in the crypto space have seen a lot of positive development which clearly illustrates how fast the industry is growing.
During the year, the cryptocurrency market witnessed an influx of traditional investors, further solidifying the status of the sector as a $2.36 trillion industry. Compared to last year, the crypto sphere market cap was worth $1.27 trillion, as the figure the sector recorded in 2025 represents a 105.4% growth.
Meanwhile, the approval of spot Bitcoin and Ether exchange-traded funds (ETFs) created the pathway for traditional investors to venture into the crypto sector. More so, this remarkable development further highlights the growing confidence in cryptocurrency, fueling speculation that the establishment of a regulatory framework could be near.
How Cyber Attacks Marred 2024
However, despite the advancement, the first three quarters witnessed massive cases of cybersecurity breaches which claimed up to $1.38 billion from various crypto projects. According to TRM Labs, hackers mostly targeted cryptocurrency exchanges with firms like DMM Bitcoin, and WazirX among the high-profile victims.
Hence, while the cryptocurrency space witnessed significant success between January to September 2024, there were a lot of noticeable setbacks, raising questions about the efficiency of blockchain security. The incessant attacks on crypto firms raised concerns about whether the industry could protect users’ assets by the time it hit more mainstream adoption.
Donations Toward U.S Elections
Also, firms and personalities within the crypto sector have donated heavily to the upcoming US elections with the aim of supporting cryptocurrency-friendly candidates. By rallying around pro-crypto candidates, cryptocurrency enthusiasts are optimistic that the industry will enjoy the aid of friendly policies that will drive the digital assets market to a new height.
So far, firms within the digital assets landscape have spent more than $119 million on crypto donations with a significant portion of the funds going to Fairshake organization. By that, the crypto sector became the biggest corporate political spender after donating more than 48% of the total institutional donations in 2024.
The political donation from the crypto space for the election has been championed by Coinbase and Ripple. Coinbase for instance has donated $50.5 million while Ripple also contributed $49 million making them the two highest donors from the virtual assets sector.
Meanwhile, donating towards the election became a must for most companies in the crypto market due to the perceived war against the industry by the United States Securities and Exchange Commission. Previously, US-based crypto establishments bemoaned the “enforcement approach” of the regulator that has seen it go after some companies with lawsuits and fines.
How Trump’s Emergence May Help Crypto in 2025
Unlike in 2020 when crypto is relatively unknown among top policymakers, the 2024 presidential race has seen crypto take a more central stage. Republican nominee, Donald Trump has made a host of clear pledges to support crypto by the time he emerges.
Part of his promises also include the use of Bitcoin as a US strategic reserve asset. In July 2024, Donald Trump delivered a speech at a Bitcoin conference in Nashville. Similarly, family members of the Republican candidate are following comparable patterns by publicly supporting a DeFi project, World Liberty.
Similarly, independent candidate, Robert F. Kennedy also promised to incorporate some Bitcoin-friendly policies. With the election fast approaching, there is growing confidence that the emergence of Donald Trump could further propel the sector to a new level and possibly push the price of Bitcoin to 100k.
With the aspirant coming to terms with Bitcoin, the cryptocurrency market is set to enjoy more supportive policies from the U.S. government. Without a doubt, the next U.S. elections will have a huge influence on the future of the virtual assets broader market.
Conclusion
To an extent, the U.S. remains a key hub for the crypto market to hit mainstream adoption in 2025, and the recent development that has unfolded in the last three quarters has further fueled the hope.
Going by the significant progress the crypto market has recorded this year, enthusiasts are optimistic that the best will come in 2025. Their growing confidence is due to the exodus of traditional investors into the crypto space and the support for the industry by some top U.S. politicians.
Despite posing for market expansion in 2025, the crypto sector must also do well to improve its security standards to gain the trust of more investors.