2024 could be a year of significant milestones for the cryptocurrency industry.
Crypto index fund manager Bitwise on Wednesday laid out key trends to look forward to, including Bitcoin’s (CRYPTO: BTC) reaching new heights as well as the emergence of artificial intelligence (AI) assistants using crypto for online transactions.
There are also two highly-anticipated events on the calendar: the launch of a spot Bitcoin exchange-traded fund (ETF) in early 2024 and the halving of new Bitcoin supply around the end of April.
Both milestones are expected to help Bitcoin surpass its previous all-time high of $69,000.
Also Read: Five Utility Tokens Ready To Surge In The Crypto Bull Run
Bitwise also predicts that the Bitcoin ETFs will collectively become the most successful ETF launch in history, capturing a significant portion of the $7.2 trillion U.S. ETF market.
Other predictions Bitwise is making:
Stablecoins: Cryptocurrencies pegged to fiat currencies like the U.S. dollar, are poised to become the preferred method for settling payments. Bitwise predicts that stablecoin transaction volume will surpass that of Visa, the world’s largest credit card company.
Coinbase Inc. (NASDAQ: COIN): The cryptocurrency exchange is expected to see its revenue double in 2024, exceeding Wall Street expectations by at least 10x. This growth is attributed to increased trading volumes in bull markets, as well as the launch of new products that have gained traction among users.
JPMorgan (NYSE: JPM): The Wall Street giant is expected to capitalize on the growing trend of tokenizing real-world assets by launching a tokenized fund on-chain. This move would allow the company to leverage the efficiency of blockchain technology and tap into the rapidly expanding tokenization market.
Ethereum (CRYPTO: ETH): The network’s revenue is expected to triple in 2024, reaching $5 billion. This growth is driven by the increasing adoption of Ethereum for decentralized finance (DeFi) and other innovative applications.
Artificial intelligence: AI assistants are expected to start using cryptocurrencies for online payments, reinforcing their role as the native currency of the internet. Bitwise believes AI assistants will prefer digitally native money like Bitcoin or stablecoins.
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