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Crypto coup 2024: uncovering the secrets that will rewrite the game
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Crypto coup 2024: uncovering the secrets that will rewrite the game

Dec 21, 2023

Messari has provided a forecast for the crypto market in 2024, emphasising the importance of digital assets in advanced technologies. The report highlights several key talking points, including the politicisation of the industry, the focus on bitcoin, stablecoins and central bank digital currencies, the CeFi sector returning to the forefront, competition between L1 solutions, regulation of the DeFi sector, the boom in 'consumer' blockchain applications and the emergence of parallel hardware infrastructure. The main predictions also apply to bitcoin and Ethereum, predicting bitcoin's strength in the new bull cycle and competition for Ethereum from L2 and L3 solutions. In addition, the report highlights the importance of the "remaining 25%" of cryptocurrencies and emphasises the potential of companies such as Coinbase, Circle and Galaxy Digital as key market participants in 2024.

At a time of digital advancement and the blossoming of generative artificial intelligence, technologies that ensure reliable provenance and scarcity of digital data become particularly important. Experts believe that cryptoassets will be essential for time-stamping and verification of both devices and information, highlighting the close connection between the two sectors and their mutual evolution.

Messari's report highlights key personalities to watch closely in 2024. They include BlackRock CEO Lawrence Fink, Ark Invest CEO Katie Wood, Circle CEO Jeremy Allaire, CSO Dante Disparte, US Blockchain Association CEO Christine Smith, Senator Elizabeth Warren, Ilon Musk, Grayscale Investments CEO Michael Sonnenschein and others. These figures play an important role in the cryptosphere and are shaping the key directions of the industry.

The report also outlines the products to watch out for in 2024. These include tokens, blockchains, applications and projects such as USDT, Blockchain Base from Coinbase, Celestia, Firedancer, Farcaster, GBTC trust from Grayscale Investments, Lido Finance, CCIP from Chainlink and Project Guardian. These innovative solutions provide a wide range of opportunities to improve the functioning of the crypto market and the blockchain industry as a whole.

All these trends point to the dynamic development of the cryptocurrency sphere, where innovation, key personalities and promising products play an important role in shaping the future of the market.

In this part of the report, the author has summarised the crypto assets that will impact the market in the coming months:

  1. Bitcoin: The report gives it a special focus given the possible approval of spot bitcoin-ETFs, the upcoming halving and the recent rally. Experts expect rapid growth in 2024.
  2. Privacy tokens: Includes anonymous currencies such as zCash that play a role in ensuring transaction privacy.
  3. Stablecoins: Two categories stand out - algorithmic and bond-linked, with a detailed discussion in the report.
  4. CBDCs and "other memcoins": Includes retail digital currencies, which are compared to DOGE and PEPE tokens, noting little impact on the industry.
  5. "Consumer" markets: This category includes blockchain products and applications for the masses, such as friend.tech, NFT marketplaces, Ordinals and NFT collections based on generative AI, GameFi and others.
  6. Other topics: Analyses changes in the political field, CeFi and DeFi perspectives, changes at the L1 level, and a few recommendations from the author personally, including the need for work-life balance.

The report provides a detailed overview of what factors will be key to the development of the cryptocurrency market in the near future, cautioning investors against blindly following trends and emphasising the importance of analysis.

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