Cryptocurrencies attract investors’ attention primarily because of their ability to grow in value. However, not all coins are showing positive results.

For example, since the beginning of 2024, large meme tokens have been the most profitable. The average growth rate of Dogecoin, Shiba Inu, Pepe, Dogwifhat, Floki and BONK was 425 per cent.

The returns of different categories of crypto assets in 2024

Investments in Solana and Bitcoin also yielded good results.

But cryptocurrencies of the so-called modular blockchains did not justify themselves, whose value on average decreased by 49 per cent. The Cosmos ecosystem also recorded a poor result.

How many people use cryptocurrencies

A separate emphasis in the report is on the growing interest from institutional investors, that is, the largest players in the market. This is one of the most important factors for accelerating the bullrun and adoption dynamics of cryptocurrencies, as their association with digital assets has a positive impact on the reputation of the latter.

BlackRock CEO Larry Fink

Financial giants like BlackRock have already played an important role in building trust and legitimacy for coins in the traditional financial system, which has a direct impact on the popularity of crypto among regular retail players.

In an interview with Cointelegraph, 10x Research founder Markus Thielen commented on the role of institutionalisation in the growth of Bitcoin and the crypto market as a whole. Here is his rejoinder on the subject.

Bitcoin’s evolution has continually driven prices higher as new ways of acquiring BTC have emerged in the financial markets. The approval of options based on spot Bitcoin-ETFs should spark a new wave of institutional interest.

Inflows and outflows from spot Bitcoin-ETFs

Bitcoin plays a central role in the adoption of cryptocurrencies and is often seen as a store of value – especially during periods of economic instability.

Thielen noted that economic problems have historically increased demand for BTC. For example, it was relevant during the debt crisis in Europe and the devaluation of the Chinese yuan, the expert recalls.

The growing level of U.S. government debt could trigger strong demand for Bitcoin if the economy faces a slowdown, be it a recession or trade wars. This trend makes BTC a means of hedging against risks in the face of economic instability.


To recap, the advantages of BTC are the transparency of the cryptocurrency along with its key features like predictable inflation and fixed maximum supply. All this is backed by a code that can be changed only in the course of consent of the majority of network participants and large-scale operations.

Unlike any fiat money, it is not possible to print any amount of additional BTC out of thin air. That's why buying bitcoins is in demand.


Volume of bitcoins under management of various spot ETFs

Despite the optimistic outlook in the MatrixPort report, several factors could hinder the global adoption of digital assets. These include regulatory issues, market volatility and retail investor security.

Hourly chart of the Bitcoin exchange rate on the Binance exchange

Hacker attacks and fraud continue to pose a threat in the cryptosphere. In addition, institutional investors are in a position to increase market volatility, as large coin sales destabilise the market when there are major changes in the macroeconomy.

Fortunately, there is some good news specifically in the cybersecurity sphere. Experts from the U.S. Department of Homeland Security said they have prevented hundreds of cyberattacks using ransomware, often before they even began. They also managed to confiscate billions of dollars of stolen crypto since 2021.

Ransomware attack pattern

US government agencies were the primary targets of the attacks, accounting for 21 per cent of all attacks thwarted. That’s more than any other sector of the economy, said Mike Prado, deputy director of the department’s cybercrime centre (HSI). Overall, the unit has prevented 537 ransomware attacks since its inception in 2021, and has tracked and seized $4.3 billion worth of crypto.

Prado said HSI takes a proactive approach to preventing cyberattacks by “staying abreast” of cybercrime trends and the ever-changing tactics of criminals. HSI agents analyse Internet traffic, looking for signs of malicious activity and monitoring software vulnerabilities that hackers can exploit to breach security systems.

Statistics on losses from ransomware attacks

The goal of what’s happening is to detect preparations for attacks – in some cases before they even begin – and prevent them. According to Prado, these actions have made it possible to reach several foreign hacker groups and put them under constant surveillance. However, this approach has its drawbacks, as it can be difficult to gather evidence against hackers if their attacks have been blocked by HSI.

If an attack is imminent, the cybercrime centre notifies government agencies, companies and other potential victims, coordinating with agents from 235 offices in the US, local police departments and other federal agencies.


Experts are betting on the further popularisation of cryptocurrencies in the coming months. The main reason for this is the emergence of new popular instruments based on digital assets like ETFs and options. They attract the attention of large investors, which is good for the overall reputation of crypto.