2024 proved to be a significant year for the global economy and financial markets. It marked significant growth, particularly in the sectors of cryptocurrency and monetary policies, which impacted worldwide financial trends.
Global growth stabilized at around 3.2% in 2024, demonstrating a level of resilience that many experts believe will provide a much-needed boost after years of economic turbulence. This period of stability followed the global pandemic, which led to tighter monetary policies and rising inflation. Notably, Asian economies grew by 5.4%, solidifying their positions as innovation-driven economies.
The crypto-currency boom
One of the most striking events of 2024 was the evolution of the crypto-currency markets. Bitcoin reached a new all-time high of around $108,319, dragging many other crypto assets to new heights. Altcoins such as Solana, Ethereum and Ripple, which are among the top 10 crypto-currencies in terms of global trading volume, approached their previous highs and positively influenced investor confidence in digital assets.
Memecoins also had a memorable year. Sui and Dogecoin soared, gaining 512.8% and 348.9% respectively over 365 days. The best-performing cryptocurrency was PEPE, a memecoin based on the Ethereum blockchain, which recorded a remarkable rise of 1710.8%.
Stock market performance
Despite the crypto trend, global investors continued to focus on traditional equities. Several companies stood out, including NVIDIA, which was one of the best performers of the year. A hypothetical $10,000 investment in NVIDIA on January 1, 2024 would have grown to $27,117 by the end of the year, demonstrating NVIDIA’s incredible evolution through innovation.
Inflation and monetary policies
After struggling with high inflation in recent years, the world’s economies began to see a decline in inflation levels in 2024. This progress was largely attributed to changes in the monetary policies of the US Federal Reserve (FED) and the European Central Bank. As a result, global inflation fell to 5.8% in 2024, and forecasts suggest it could drop to around 4.3% in 2025.
Looking ahead to 2025
Experts predict that global growth will continue to stabilize at around 3.2% by the end of 2025. Crypto-currencies are expected to continue their breakthrough, not least as a result of pro-crypto political decisions in the USA. Meanwhile, inflation levels are expected to reach lower levels, partly due to reduced demand for energy and other key commodities.
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