Crypto KOL Blue Fox Notes released the encryption market forecast for 2024: 1. L2 will continue to be an important narrative, and the decline in fees will drive an ecological explosion. 2. L2 projects such as Arb, Op, zkSync, starknet, etc. will compete with other public chains. 3. zkSync will launch an economic mechanism and become an important force in promoting the explosion of L2. 4. If starknet achieves a breakthrough, it will start from the full-chain game narrative. 5. The diluted total market value of an L2 project is expected to exceed US$100 billion. 6. The BTC ecosystem will continue to explore expansion directions, including decentralized cross-chain, zk proof, L2, etc. 7. Ethereum L1 will gradually evolve into a B2B chain, and ordinary user interactions will mainly occur on L2/L3 and a few high-performance L1s. 8. Modularity will continue to be an important narrative, especially with fierce competition at the DA level. 9. The Cosmos and Solana ecosystem will continue to develop. 10. Web3 games have achieved breakthroughs in L2/L3 and are expected to have games with over one million users. 11. Blur will continue to play an important role in the NFT market. 12. The Ethereum ecosystem will produce large-scale deflation and realize value capture. 13. Perp in DeFi will develop massively in 2024. 14. The advancement of modular blockchain and cross-chain technology will promote the integration of the Ethereum ecosystem with the BTC ecosystem and Solana ecosystem. 15. Depin breaks through on Solana and Arbitrum. 16. AI protocols based on L2 and high-performance public chains will gradually emerge. 17. The Ethereum remortgage track will become an important narrative. 18. The fields of NFT, MEME and inscriptions are expected to recover. 19. Some celebrities will enter the fields of NFT, MEME, and inscriptions. 20. With the development of L2 and the exploration of high-frequency applications, smart contract wallets are expected to emerge in 2024.