2024 Cryptocurrency Projections: Key Trends in ETFs, DeFi 2.0, and iGaming

As Bitcoin gradually climbs back to its previous high points, 2024 is breathing new life into the cryptocurrency landscape. With the long-anticipated SEC announcement on January 10th and an uptick in both GameFi and Liquid Derivatives gaining traction, this year is packed with fresh trends and a strengthening of various existing sectors. approval of Bitcoin spot ETFs Since the start of 2024, Bitcoin and the larger altcoin market have maintained relative price stability. The ongoing Bitcoin bull run, which had been building in anticipation of the SEC's favourable ruling on spot Bitcoin ETFs, started to unwind somewhat following the official announcement that resulted in a minor dip for the leading cryptocurrency. Staking On January 31st, Federal Reserve Chairman Jerome Powell commented on the US economy, suggesting that it has achieved a so-called 'soft landing' and hinted at possible future interest rate cuts. This statement positively affected cryptocurrency prices, allowing them to rebound from a mid-month decline. Overall, the market hasn't shown a clear inclination, indicating that forthcoming trends might lean towards stability.

Bitcoin, Ethereum Stay updated on the distribution of cryptocurrencies in our

Bitcoin Spot ETFs — The Realization of TradFi's Aspirations presented a dovish outlook The quiet competition for spot crypto ETFs has been ongoing for years but only gained significant attention when a major application was submitted the previous summer. On January 10th, the SEC greenlighted 11 substantial spot Bitcoin ETFs that began trading the very next day.

According to Reuters, investors injected a remarkable total of $1.9 billion into these new ETFs during the initial three trading days, setting crypto apart from similar ETF initiatives (like the gold ETFs in 2004), though it didn't fully meet the most optimistic projections. Analysts will be closely monitoring how institutional investors continue to adopt these products over the next six months. Airdrops Calendar .

Following the approval of Bitcoin ETFs, Franklin Templeton submitted an application for a spot Ethereum ETF on February 12th, becoming the eighth company awaiting a decision from the SEC. Notably, their application included provisions for staking, aimed at optimizing returns for token holders. However, S&P Global voiced concerns about the potential increase in systemic risk and the disproportionately large influence of Coinbase.

While there is a general consensus that Ethereum spot ETF proposals will ultimately gain approval, opinions vary on the timeline and structure. BlackRock Liquidity Staking Derivatives: The Rise of DeFi 2.0?

EigenLayer made waves on February 6th by temporarily lifting its staking cap of 200,000 ETH. This decision, along with others, led to a significant increase in the Total Value Locked (TVL) within the protocol, which surged by $2 billion over just a three-day span. Back in April 2023, it was reported that over a third of all staked Ether was locked within Liquid Staking Derivatives (LSDs). These next-gen protocols afford users the ability to redeem their staked assets in the form of liquidity tokens like stETH. attracted only $1.13 billion These liquidity tokens can then be traded on various DeFi platforms, similar to how collateral rehypothecation works in traditional finance. This not only liberates extra liquidity for the users but also enables them to maximize their staking returns. For instance, EigenLayer permits restaking, whereby a user can deposit Ether through Lido, obtain liquidity tokens, and then redeposit those on EigenLayer to earn enhanced yields.

Less than a year prior, the total value locked in all LSD protocols was surprisingly modest. As of early February, according to DefiLlama, this figure has escalated to $34.6 billion, concentrated in just the top five protocols. Keep an eye on Lido, EigenLayer, Swell, Pendle, and Rocket Pool in the coming months. warned On January 16th, Animoca Brands and Chess.com launched a new blockchain-powered NFT chess game in collaboration with Magnus Carlsen. Nevertheless, even such huge names were overshadowed by the phenomenal success of Heroes of Mavia, a Clash of Clans-inspired NFT mobile game that achieved a million downloads and secured a position in the App Store rankings.

Research from Bitget indicates that a significant percentage of users, around 25% in February, were primarily engaging in GameFi activities—an impressive increase compared to less than 5% previously. While this spike might be linked to the Heroes of Mavia token airdrop, if the trend persists, it could illustrate that GameFi has effectively engaged the Web2 gaming audience. May 2024 to 1-2 years .

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Gracy Chen serves as the Managing Director for Bitget, a leading crypto derivatives and copy trading exchange, where she is in charge of market growth, business strategy, and overall corporate development. Under her stewardship, Bitget's user community has expanded fourfold, positioning the exchange within the top five for trading volumes in the crypto derivatives arena. skyrocketed to almost $6 billion Blum Rings In One Year of Success With Awards for 'Best GameFi App' and 'Best Trading App' at the Blockchain Forum 2025 reported Addressing DeFi Fragmentation: How Omniston Enhances Liquidity on TON

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