The crypto market moves towards the mainstream, 2024 becomes a landmark moment

In 2024, the crypto market witnessed several significant breakthroughs, marking the industry's true entry into the mainstream spotlight. The approval of Bitcoin and Ethereum spot ETFs opened the door for traditional financial institutions to enter the crypto space. Bitcoin underwent another halving, resulting in a substantial price increase. Participants in the crypto industry played an important role in the U.S. elections, and mainstream media's attention to the industry significantly increased. Meanwhile, the liquidity of stablecoins continued to grow, and on-chain activities became increasingly active. The meme coin market experienced a super cycle, with phenomenal projects rapidly emerging. The combination of artificial intelligence and encryption technology gave rise to new narratives, making smart agents the new standard in crypto trading. This series of developments laid a solid foundation for a new bull market cycle.

In this context, the 5th PANews Annual Selection event unfolded with the theme "Becoming Mainstream." After more than a month of registration collection, online voting, and deliberation by a professional jury, a total of 141 projects/companies and 10 individuals stood out and received 22 authoritative annual awards.

This selection covers multiple dimensions, including technological innovation, ecosystem development, market influence, and community building. In terms of the Annual Outstanding Contribution Award, Bitcoin, Base, and Solana have been recognized for their outstanding performance in promoting industry innovation and economic benefits.

In the Annual Innovation Award category, 10 projects including ai16z, Ethena, and Fractal Bitcoin were awarded for their innovations in technical mechanisms, economic models, and business models. These innovations not only improved transaction efficiency but also provided market participants with more diversified asset allocation options.

The annual application list includes seven categories: DeFi, Web3 games, Web3 social, RWA, DePIN, AI+Web3 integration, and NFTs, with a total of 45 projects selected. These applications showcase the disruptive changes brought about by the combination of innovative technologies and new business models.

In the infrastructure sector, 20 of the best projects have been selected, covering L1, L2, and various tools. The continuous iteration and upgrading of these infrastructures inject new vitality into the market and are the core engine driving industry growth.

The selection also focused on the most promising projects in various ecosystems. A total of 25 projects from the Bitcoin, Ethereum, Solana, and TON ecosystems were selected, and these projects are expected to be key drivers of large-scale adoption in the crypto market.

As one of the hottest narratives of 2024, MEME coins also hold an important position in the selection. The 10 most popular MEME projects have emerged, reflecting the rise of the attention economy in the crypto market.

In addition, the selection honored 10 of the most influential industry KOLs, 5 of the most influential Web3 conferences, 10 of the best investment institutions, 8 of the best exchanges, and 10 of the best columnists. These individuals and institutions have played an important role in promoting industry development and disseminating industry knowledge.

2024 is seen as a critical turning point in the encryption field. With the joint actions of Wall Street giants joining in, Bitcoin halving, a gradually clarified regulatory framework, and traditional institutions opening up to crypto asset allocation, the crypto market is showing a more diversified development trend. Looking ahead to 2025, cryptocurrencies are expected to gain a clearer position and wider recognition in the global financial system.

The purpose of this selection is to showcase the emerging trends and development potential in the encryption industry, encouraging more industry pioneers and innovators to actively participate in ecosystem construction, and promoting the long-term healthy development of the industry.