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When will Ethereum recover?

Bybit, a crypto exchange, has published a new report examining the hottest trends in 2023, exploring the reasons behind them, and making predictions about what will happen in 2024.

In 2023, among the various sectors studied, AI tokens stood out with a median return of 658%. This remarkable performance underscores the evolving interest in AI technologies and their increasing integration into blockchain applications.

Bybit experts predict that BRC 20 tokens built on top of Bitcoin will gain traction as the market evolves and more communities discover the utility of Bitcoin as a base layer. The report shows how BRC-20 tokens are poised to overtake AI tokens, with projects that do not offer strong fundamentals falling by the wayside. Additionally, Bybit's analysis shows that tokens linked to the Decentralized Physical Infrastructure (DePIN) sector, including those used in computing, are expected to have stable prices in the face of potential selling pressures. This stability is an indication of the industry's resilience and continued demand for decentralized privacy and networking solutions.

Finally, the ETH/BTC ratio is predicted to experience a significant recovery from 0.056 to 0.08, reflecting an optimistic outlook for Ethereum compared to Bitcoin. This expected change may indicate a restructuring of market dynamics and investors' confidence in Ethereum's long-term prospects.