This article summarizes the key points on 1Confirmation letter to its LP’s on the future of crypto.
The cryptocurrency landscape has evolved dramatically in 2024, with significant developments pushing the industry further into mainstream finance and government circles. Let’s examine the current state of crypto and some predictions for its future:
- Mainstream Adoption
- Bitcoin and Ethereum ETFs have solidified crypto’s place on Wall Street
- Total ETF AUM for BTC has reached $78B+, with ETH at $8B+
- Crypto corporations have made substantial political contributions
- Consumer Use Cases
- While established projects like memecoins and NFTs continue to attract users, truly innovative consumer applications are still needed
- The industry faces the challenge of bringing in 1B+ new users
- Key Predictions
- Ethereum’s market cap is expected to surpass Bitcoin’s within 5 years
- Prediction markets are seen as a breakout use case, with potential 100x growth
- DeFi and NFTs are anticipated to make a strong comeback
- Emerging Trends
- App chains and Layer 2 solutions are expected to drive scalability
- Non-custodial products empowering users to trade, borrow, and earn without intermediaries
- Focus on authenticity and unique consumer behaviors to push the space forward
The crypto industry continues to evolve rapidly, with a mix of established use cases and emerging technologies driving adoption. As we move forward, the focus remains on creating value, improving user experience, and expanding the reach of decentralized technologies.
MCompass 