Chinese Community Predictions for 2024
Writing predictions about the crypto market is always challenging, but it’s still fun to speculate. Let’s take a look at some wild prognostications for China, crypto, and the Year of the Dragon!
1. Chinese communities will invent and export new degen narratives
The Chinese crypto community has been a hidden force, creating unique terminologies and narratives. They have a knack for getting people addicted to simulation boxes and are open to new token standards as long as they make money. In 2024, we can expect more original degen plays from the Chinese community that may be adopted by the wider crypto community.
2. Everything is going on-chain—even in China
Chinese exchanges are building out their Web3 kingdoms, launching multi-chain wallets and partnering with layer-2 chains like Polygon. Chinese builders are also making significant contributions to Ethereum development, especially in zero-knowledge and account abstraction. We can expect more Chinese businesses to embrace on-chain solutions and funnel users into the decentralized world.
3. The flight of crypto people from the Middle Kingdom
Due to increasing government crackdowns on crypto founders and investors, many Chinese crypto pioneers are seeking alternative lifestyles abroad. Singapore, Hong Kong, Thailand, and Dubai have become popular destinations for these individuals. In 2024, we can expect dispersed nomadic communities of crypto natives to grow larger, more inclusive, and influential.
Hot Take: The Ripple Effect of Decentralized Chinese Communities
The predictions for the Chinese crypto community in 2024 are rooted in optimism about its growth. As the industry moves into an on-chain bull market, the Chinese community will accelerate alongside it. This decentralized community will force us to be more diverse and eliminate boundaries between East and West. It’s an exciting time for the Chinese crypto ecosystem, and we can look forward to new innovations and collaborations in the coming year.
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