We always continue with the forecasts of the VanEck company on the evolution cryptocurrencies for this year which promises to be 2024. In our previous article we have posted the forecasts of two cryptocurrencies which occupy the roof of crypto-currencies by the importance of their market capitalization at namely bitcoin and Ethereum.
The expected approval in the United States of ETFs will allow the payment of 2.4 billion dollars in ETF transactions during the first quarter of 2024. The market could channel 1.7% of the entire market at the time of its maturity which represents 40.4 billion dollars during the first 2 years of activity.
The last article then discusses the evolution of Ethereum. Good of course, it is not going to dethrone Bitcoin at the top of the cryptocurrencies. Ethereum will remain the second most important cryptocurrency for this year 2024. But predictions show that Ethereum will struggle this year. In this new article will discuss the fall of Binance and the subsequent rise of crypto DEX and Marketcap at the top.
NFTs will reach record levels. This means that the activity which involves these digital assets will reach high levels, driven by speculation in cryptocurrencies. In this state of affairs, in the games of speculation, the news bitcoin (BTC)-based offerings and ethereum’s perfect NFT collections will attract attention. Even though Ethereum dominates in NFT sales, the primary NFT emission coefficient ETH-BTC will reduce to 3-1 from the beginning to the end of 2024.
After the setbacks of the crypto exchange platform Binance in this year 2023, it is certain that difficulties will continue for the company during this coming year because everyone in the sector is expecting the loss of dominance in the crypto market by Binance. The company is hit with a colossal fine of $4.3 billion. The payment of this sum will have consequences within the company. Rivals like OKX, Bybit, coinbase and Bitget, with fairly abundant reserve funds, should take this coveted first place.
Many experts believe that the decentralized exchange (DEX) market, involving crypto spot exchanges, will climb and reach new heights. But there is one condition. Solana must improve the efficiency of exchanges on the chain. Committed wallets, which accept off-account transactions for automated payments, will push investors to opt for transactions on-chain and crypto self-custody.
For their part, other analysts believe that the end of bitcoin halving, with the decline of the domination of BTC and ETH, could push up the market of decentralized exchanges, DEX. The accelerated rise of the long list of assets could attracting choices to trade with more DEXs listing cryptos.
There are therefore other major developments planned. The crypto ecosystem, in 2024, will experience significant developments conducive to the optimization of bitcoin returns. New perspectives then appear. Because the Fund transfers and smart contracts on the blockchain will continue increase especially in emerging cryptocurrency markets. The Bitcoin staking will gain momentum due to transaction costs, with innovations like Ambross and federated self-possession solutions.
The coming year could mark an important turning point for games based on blockchain, with a forecast to exceed one million active users each day. This anticipated growth would be carried under the wings by such key players like IMX and AAA level titles developed by immutable.
By the same reasoning, experts expect a performance from Solana. This breakthrough for Solana will allow it to establish itself among the three main blockchains in terms of market capitalization, TVL and active users. Thus Pyth, the Solana token, could overtake chainlink thanks to its innovations.
On the other hand, decentralized physical infrastructure networks (DePin) could even better to deploy in this year 2024. Already players like Hivemapper and Helium play spoilsport. Decentralized finance (DeFi) will also experience a major breakthrough. This crypto segment should integrate KYC, with Ethereum Attestation Service and Uniswap hooks in mind. This state of affairs will reinforce the competitiveness of Uniswap thanks to protocol fees linked to KYC. The expected result is a likely increase in value of Uniswap’s native crypto after the vote of DAO as protocol fee change enabler.
This projection requires us to remember just that the year 2024 expects many challenges for the crypto ecosystem.
