Growth areas of the virtual currency market that Binance will focus on in 2024: Bitcoin ecosystem, DePIN, etc.
8 areas the place progress is predicted
On the fifteenth, the analysis division of crypto asset (digital forex) alternate Binance launched a report wanting again on 2023 and looking forward to 2024. We additionally analyze particular person shares comparable to Solana (SOL).
Binance Analysis has recognized eight areas the place vital progress is predicted over the subsequent yr:
- Bitcoin (BTC) Ecosystem
- possession economic system
- Synthetic intelligence (AI) integration
- Actual Belongings (RWA) Tokenization
- On-chain liquidity
- Accelerating participation of institutional traders
- Safety
- account abstraction
First, Binance Analysis acknowledged that traits comparable to developments associated to Ordinals (a Bitcoin model of NFTs (non-fungible tokens)) and BRC-20 tokens, in addition to capital inflows as a result of approval of Bitcoin spot ETFs, will proceed this yr. .
He added that optimism concerning the April halving may trigger volatility out there.
He additionally predicts that scaling options comparable to Stacks will assist improve Bitcoin’s performance.
connection:
Bitcoin Layer 2 “Stacks (STX)” has soared roughly 6 occasions because the starting of the yr
connection:
What’s BRC-20?Potentialities and challenges caused by Bitcoin token requirements
What’s half-life?
It refers back to the timing when the mining reward (= new issuance quantity) of digital currencies comparable to Bitcoin is diminished by half.
Digital forex glossary
Institutional traders, AI, and RWA tokenization
As for institutional traders, the entry into cryptocurrencies in the course of the bear market, particularly by massive conventional asset administration corporations comparable to BlackRock and Constancy, reveals that they consider within the long-term potential of the business. identified.
He stated that with information protection of halving and ETFs, extra consideration will probably be centered on the cryptocurrency sector, and extra corporations will contemplate incorporating it.
The combination of synthetic intelligence (AI) and cryptocurrencies can be one of many areas anticipated to develop in 2024. Though these efforts are nonetheless of their early levels, he argued that they may very well be applied in areas comparable to transaction automation, predictive analytics, generative artwork, and the operation of decentralized autonomous organizations (DAOs).
He additionally factors out that the tokenization of real-world property (RWA), comparable to actual property, paintings, and shares, will characterize a robust use case for blockchain know-how.
connection:
Why traders are inquisitive about actual asset tokenization and what’s Actual World Belongings (RWA)?
Binance Analysis additionally stated there may be traction in “possession economies” comparable to decentralized bodily community infrastructure (DePin) and decentralized social media that enable customers to have sovereign management over issues like private knowledge.
We additionally count on the on-chain liquidity ecosystem to flourish, together with token swaps, yield and liquidity administration, and the continued significance of improved safety and account abstraction.
Evaluation about Solana
This report additionally focuses on Solana (SOL) as a person inventory. He additionally identified that Solana is residence to the DePin undertaking. Solana hosts Helium, Render, Hivemapper, and extra.
Decentralized bodily community infrastructure (DePin) makes use of mechanisms such because the token economic system to construct a decentralized infrastructure community that requires bodily assets.
Binance Analysis factors out, for instance, that Hivemapper, a community-driven decentralized mapping service that’s an alternative choice to Google Maps, has already mapped greater than 10% of the world’s roads.
He additionally notes that Solana-related NFT markets and block explorers could also be engaging M&A targets for Ethereum (ETH) startups with ample funds.
Lately, there was a case the place Etherscan, a significant Ethereum exploration website, acquired Solana’s block explorer Solscan.
connection: Etherscan acquires Solana block explorer Solscan, cooperative merger between disparate chains
connection:
Variety of Cryptocurrency Solana Builders, Ecosystem Development and Exercise Report in 2023
Half-life particular characteristic
We have now launched the “Warmth Map” perform to the CoinPost app for traders!
Along with necessary information about digital currencies, you may as well see at a look alternate data such because the greenback yen and value actions of crypto asset-related shares within the inventory market comparable to Coinbase.■Click on right here to obtain the iOS and Android variations
https://t.co/9g8XugH5JJ pic.twitter.com/bpSk57VDrU— CoinPost (digital forex media) (@coin_post) December 21, 2023