Crypto Leaders Share Their Outlook for Digital Assets in 2024
Crypto industry leaders from Kraken, Avalanche, Anchorage Digital, and other companies have provided their insights on the future of digital assets in the coming year. They cover various topics such as spot bitcoin ETFs, stablecoins, NFTs, and regulations. Let’s take a closer look at what they expect in 2024.
Kraken UK Managing Director Bivu Das
Kraken UK Managing Director Bivu Das believes that the crypto industry has the potential to make significant progress towards mass adoption in 2024, particularly in the UK. He anticipates the approval of spot bitcoin ETFs in the US and expects the market to remain optimistic in Q1. Das also foresees the UK becoming a global crypto hub by the end of 2024, thanks to greater regulatory clarity and initiatives like the Government’s Digital Securities Sandbox.
Ava Labs President John Wu
John Wu, President of Avalanche developer Ava Labs, predicts that stablecoin settlements will surpass annual Visa volumes for the first time in 2024. He also expects the approval of a spot bitcoin ETF to boost bitcoin’s market cap by 50%. Wu foresees a breakout game in web3 gaming that attracts a nine-digit user base and leads traditional game developers to enter the space. Additionally, he anticipates a resurgence of NFTs with real-world applications like loyalty programs.
Gnosis co-founder Dr. Friederike Ernst
According to Gnosis co-founder Dr. Friederike Ernst, 2024 will be a crucial year for the web3 ecosystem. She emphasizes the need for user-friendly experiences to drive broader adoption of applications running on Ethereum and other blockchains. Ernst believes that developments in account abstraction technology will make seed phrases obsolete, enabling easier access to assets. She urges the industry to turn research and proof of concept work into actual improvements for live products.
Concordium co-founder Lars Seier Christensen
Lars Seier Christensen, co-founder of Concordium, has a more cautious outlook for 2024. While he is skeptical about the impact of spot bitcoin ETF approvals and the Bitcoin halving event, he sees potential in blockchain-based stablecoins and real-world asset adoption. Christensen believes that stablecoins are currently crucial for transfers, settlement, and finality, and expects their further embrace in 2024. He also highlights the importance of reliable and trustworthy ID solutions on the blockchain.
VeChain CEO Sunny Lu
Sunny Lu, CEO of VeChain, considers spot bitcoin ETF approvals and market regulations as major factors for the year ahead. He believes that the approval of a bitcoin ETF will open doors for institutional investors to enter the crypto space. Lu also emphasizes the significance of regulatory progress, such as MiCA in Europe, in driving mass adoption of blockchain and crypto in real-world applications.
Anchorage Digital co-founder Diogo Mónica
Diogo Mónica, co-founder of Anchorage Digital, expects an institutional-led bull market in 2024, with institutions becoming key players in the crypto ecosystem. He foresees a broader range of institutional participants entering the market, including asset managers and hedge funds. Mónica emphasizes the importance of market structure reform to accommodate rising institutional participation.
Hot Take: Crypto Industry Leaders Share Their Predictions for 2024
In 2024, crypto industry leaders foresee significant developments in digital assets. These include the potential for mass adoption in the UK, stablecoin settlements surpassing Visa volumes, the approval of spot bitcoin ETFs, a resurgence of NFTs with real-world applications, and improvements in user-friendly experiences for blockchain applications. While some express caution about predictable scenarios, others highlight the importance of reliable ID solutions and market structure reform. Overall, the outlook for digital assets in 2024 is optimistic, with institutions expected to play a major role in driving growth and adoption.
By
By
By
By