In this article we discover what will be the dominant crypto trends of 2024.
To make the most of the upcoming bull market, it is essential to be prepared and bet on the winning horses
Chainlinkgod, a very active user in the Chainlink community, has offered his vision regarding the most followed and attention-grabbing narratives for the current year.
Among these, we find themes that have already explored a phase of interest during Q3 2023, but that could fully express their potential in the coming months.
Let’s see all the details below.
Summary
The 3 best crypto trends to follow in 2024
With the beginning of 2024, we cannot miss the predictions on what will be the most relevant crypto trends for the current year.
Chainlinkggod, twitter influencer and supporter of the Chainlink community, has proposed his opinion regarding the narratives that will attract the most capital from investors in the next 12 months in the broader market of cryptocurrencies and blockchain technology.
Bitcoin takes first place, which with the very probable arrival of the spot ETF in the United States will consolidate its position, finally becoming a regulated investment tool accessible to everyone.
The spot ETF could also bring a substantial increase in market volumes, with BlackRock and other investment funds already indicating that they will pour billions of dollars into the industry if their applications are confirmed by the SEC.
It’s not all here: the halving expected in April, and the start of the tightening easing phase of the FED scheduled for May will be the catalysts for a historic momentum in which Bitcoin will achieve the primacy as one of the best asset classes on the planet.
The second trend to focus on in 2024 concerns the Solana ecosystem: as we have seen with the explosion of on-chain activity during the last quarter of last year, SOL and its world of cryptographic applications have greatly revived after the collapse of the FTX exchange in November 2022.
A few days ago, trading volumes in the NFT markets on Solana incredibly surpassed the volumes recorded on Ethereum, opening the doors to a phase of massive expansion for the chain.
Obviously, if more and more “Solana killers” come forward to replace its place, it will continue to dominate the integrated blockchain approach by adding more and more use cases to its infrastructure.
In particular, it is necessary to keep an eye on the case of payments in stablecoin, which could explode in this context due to the strong scalability component of the decentralized network.
SOL will obviously benefit from all of this.
The latest crypto trend that ranks on the podium for 2024 is represented by “Data Availability” (DA) platforms like Celestia and Eigen Layer: the first is preferred on sovereign rollups while the second on regulated Ethereum rollups.
This kind of platforms is of fundamental importance if you want to preserve the integrity of a layer-2 blockchain as they allow the storage of all the data generated on it, ensuring that they are accessible for network validation by all participants.
The strong expansion of the second layer blockchain landscape that we witnessed in 2023, and that will certainly continue in 2024, will lead to a great success for this kind of infrastructure that must ensure the security of the most important resource in the on-chain field, namely data.
We expect a scorching year for DA projects.
Other trends not to be underestimated
Obviously, those just mentioned will not be the only trends that will emerge in 2024: with the probable start of the bull market in the coming months, we will have the opportunity to see many niche sectors grow that have not yet reached adequate adoption among users of the web3 world.
First of all, there will certainly be a need to monitor the advancement of theartificial intelligence niche, which is increasingly central in the rhetoric of new cryptographic projects, and has also become very famous outside of the crypto environments.
Until today, we still cannot count on a flourishing ecosystem of blockchain applications that leverage artificial intelligence software: all we have at the moment are experiments in their early stages and little-known applications or those with limited use cases.
After the launch of ChatGPT by OpenAI and Worldcoin, the work of software engineers in the blockchain field has become increasingly massive, as evidenced by the fact that many industry experts AI are preparing to launch their flagship products in 2024.
Another trend that will certainly attract a lot of attention is that of “tokenization of real assets” (RWA): as skills in the blockchain world grow, more and more applications are emerging that allow the tokenization of a real-world object, thus opening the way to multiple markets and different liquidity outlets.
Many companies in the traditional financial world are strongly focusing on RWA and believe that this narrative will make various types of markets such as real estate, bonds, stocks, and many others much more efficient.
Many traditional financial institutions like Bank of America or BlackRock have recognized the potential of resource tokenization on blockchain, suggesting that this niche could grow significantly in the coming years.
In this regard, the consulting company Boston Consulting Group has predicted that this sector will reach 16 trillion dollars by 2030.
The projects that focus the most on the growth of this niche are Avalanche, Chainlink, Pendle, and Centrifuge.
Not to forget everything that revolves around the industry of liquid staking: we have seen how in 2023 Lido and other LSD platforms on Ethereum have achieved excellent results, reaching a total of over 12 million locked ETH on the beacon chain, corresponding to about 26.8 billion dollars.
This data corresponds to almost 42% of all Ether staked in Ethereum 2.0 contracts.
In 2024, we can expect to see the 50% threshold being surpassed, as this type of protocol is increasingly demanded by users who seek to make the most of their staked ether, enjoying additional liquidity for exchanges.
Not only on Ethereum, the liquid staking trend will most likely also break through on Solana and other blockchains where it has not yet planted its flag.
