VanEck (with $76 billion under management) gave its own forecasts for 2024. We study:
1️⃣ The US recession is finally coming, as is the spot ETF. More than $2.4 billion could flow into the ETF in the first quarter of 2024, which will support the price of Bitcoin.
2️⃣ The fourth Bitcoin halving in 2024 will lead to a slight market correction and further growth. Low-cost miners will benefit.
3️⃣ Bitcoin will reach an all-time high in the fourth quarter of 2024, this will be caused by political events and regulatory changes after the US presidential election.
4️⃣ Ethereum will not bypass Bitcoin in 2024, but in terms of profitability it will surpass the shares of the largest technology companies. Ethereum will compete with other smart contract platforms.
5️⃣ After the implementation of EIP-4844, Ethereum L2 networks will take over most of the EVM-compatible TVL and trading volume.
6️⃣ NFT activity will recover to record highs, Ethereum will lead the sector, and Bitcoin will gain momentum thanks to Ordinals. This will shift the ETH to BTC NFT issuance ratio by the end of 2024.
7️⃣
8️⃣ Stablecoin market capitalization will reach a new all-time high and exceed $200 billion. USDC will regain its market share losses due to a shift towards wider institutional adoption, especially in emerging L2 networks.
9️⃣ DEX will achieve record share of the spot trading market thanks to fast blockchains such as Solana and wallets that enable automated transactions, promoting on-chain trading and non-custodial storage.
1️⃣0️⃣ Remittances will drive the use of blockchain, and Bitcoin Staking on the Lightning Network will offer profit opportunities through new and convenient staking tools.
1️⃣1️⃣ A breakthrough blockchain game could exceed 1 million daily active players. Immutable X is poised to grow with key launches and Immutable Passport, optimizing wallet usage and providing broad integration.
1️⃣2️⃣ Solana will be among the top 3 blockchains by market capitalization, TVL and number of users, potentially surpassing TVS Chainlink with its Pyth oracle.
1️⃣3️⃣ DePin networks, especially Hivemapper and Helium, will become more widespread. Helium 5G is rapidly expanding to offer cost-effective alternatives to traditional infrastructures.
1️⃣4️⃣ New accounting standards will contribute to the growth of corporate cryptocurrency holdings. By 2025, a large financial institution could launch a quasi-public blockchain with the ability to connect to a public network.
1️⃣5️⃣ KYC-compliant DeFi applications led by Uniswap will outperform non-KYC applications as they attract institutional capital and increase protocol fees. This could increase the value of Uniswap tokens.
