Monica Long Forecasts the Crypto Scene for 2024
By the end of 2023, Monica Long, President of Ripple, laid out her predictions for the cryptocurrency landscape in 2024. Long envisions a significant advancement and maturation of the crypto industry.
Expectation of the Next ‘Crypto Summer’
Long anticipates an end to the speculative hype cycle by the year 2024, paving the way for the next ‘crypto summer’ as the industry transitions from volatility to stability.
Focus Shift on Real-World Application
There will be a shift in emphasis from speculative trading to establishing practical, real-world uses of cryptocurrency, targeting key obstacles such as compliance, usability, and integration into traditional finance systems.
Foreseen Compliance Revolution in DeFi
Monica Long predicts a pioneering compliance revolution in Decentralized Finance (DeFi), promoting a safer and more regulated environment for DeFi participants.
Positive Outlook for the Current ‘Crypto Winter’
Long sees the current ‘crypto winter’ as an opportune time for focused development efforts in solving real-world issues using blockchain technology.
The Importance of Compliance and Transparency
An increased emphasis on compliance within the industry is highlighted as a crucial step to regain the trust of customers and users due to past industry pitfalls.
Enhanced Usability and Integration
Monica Long emphasizes the need for greater usability of crypto solutions to ensure that users, including Ripple partners, can access and utilize these solutions effectively without requiring in-depth crypto knowledge.
Mainstream Recognition and Expectation for Institutional Adoption
Long recognizes that cryptocurrency has integrated into mainstream awareness and anticipates further institutional adoption driven by a compliance-first approach.
Reaction to Ripple’s Partial Victory in the SEC Lawsuit
After a significant ruling in the SEC vs. Ripple Labs lawsuit, Monica Long discussed Ripple’s partial success in the legal battle and its international expansion strategy with CNBC.
Ripple’s Expanding International Presence
Monica Long highlighted the continued growth and development of Ripple’s operations in the UK, Europe, Singapore, Dubai, Asia, and Latin America, attributing it to well-defined regulatory frameworks in these regions.
Specific Focus on Ripple’s UK Ambitions
Highlighting Ripple’s increased presence in London, Monica Long emphasized the growth potential in the UK, solidifying it as a strategic location for the company’s future investments.
Hot Take: Ripple’s Predictions and Expanding Footprint
In summary, by providing insights into the anticipated evolution of the cryptocurrency industry in 2024, Monica Long outlines Ripple’s commitment to compliance, usability, and global expansion. The partial victory in the SEC lawsuit is seen as a catalyst for further growth, while emphasizing clear regulatory frameworks as key to establishing Ripple’s international presence.
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