Wildest crypto predictions for 2024

The online part of the crypto world is always good for a hot take or two.

As we head into the new year, here are a few predictions for 2024, from the pretty reasonable to the only-in-crypto.

A bearish year for Binance

Prediction #7: Binance will lose the #1 position for spot trading, with competitors like OKX, Bybit, Coinbase, and Bitget contending for leadership. Coinbase’s futures market may exceed $1 billion daily volume as regulated index inclusion becomes key.

— VanEck (@vaneck_us) December 7, 2023

Binance saw its trading volume boosted by FTX’s collapse in November 2022.

Since then, its market share has shrunk, falling 20% through November 2023, according to CCData. The loss was worsened by the DOJ’s indictment against former CEO Changpeng Zhao.

Still, Binance has been the world’s largest exchange by volume since 2017 and remains well ahead of its competitors in daily volume.

And a bullish one for Coinbase

Prediction #3: Coinbase’s revenue will double, beating Wall Street expectations by at least 10x.

Historically, Coinbase’s trading volumes surge in bull markets, and we expect the same to happen again. Plus, they’ve launched a wide range of new products that are showing traction. pic.twitter.com/a1bq1IyyMq

— Ryan Rasmussen (@RasterlyRock) December 13, 2023

A layer-2 and expansion abroad were among Coinbase’s initiatives this year. The exchange has also remained mostly free from the legal troubles that have plagued its competitors.

The price of COIN stock is up 376% on the year.

JPMorgan tokenizes a fund

Prediction #5: JPMorgan will tokenize a fund & launch it on-chain as Wall Street gears up to tokenize real-world assets.

Launching a tokenized fund would allow them to take advantage of the efficiencies on-chain assets can offer while entering a market whose growth is exploding. pic.twitter.com/OSKmosnTee

— Ryan Rasmussen (@RasterlyRock) December 13, 2023

JPMorgan has been active in the real-world assets space. Its Onyx blockchain arm carried out tests on tokenizing portfolios on permissioned blockchains.

However, JPMorgan CEO Jamie Dimon struck a different note when he talked about crypto being shut down at a Senate Financial Services Committee hearing earlier this month.

$10 billion market cap for BONK?

Whale wants to know your biggest and boldest crypto prediction for 2024.

We’ll drop ours:@bonk_inu $BONK to $10B MC pic.twitter.com/A1Lcu1Wtbw

— Beluga (@getbeluga) December 13, 2023

BONK is the latest dog coin to ignite crypto Twitter. BONK’s rally following its listing on Coinbase was the largest in 2023. The Solana-based coin has joined a larger Solana rally, rising over 300% in the last 30 days, according to CoinGecko. BONK’s market cap is currently more than $1 billion.

A quarter of a million dollars

With everything on the table coming in 2024, it’s hard to imagine Bitcoin under $250,000.

Everyone in this space knows that this is the greatest opportunity of a lifetime.

For everyone else, they’ll get Bitcoin at the price they deserve.

— The ₿itcoin Therapist (@TheBTCTherapist) December 6, 2023

Bitcoin’s price has appreciated 159% in the past year, per CoinGecko, and the asset may have a couple more catalysts in 2024.

SEC decisions on Ark and 21Shares’ spot ETFs are coming in January, and another halving, where rewards paid to miners by the network are cut in half, is estimated to happen in April.

Bearish ETFs

1/ My 2024-2025 Predictions

1. Entire Crypto market cap rallies into ETF annoucement Jan 2024

2. Crypto bleeds with 30-40% dips the 1-2 months post ETF announcement whilst awaiting listing

3. Market then rallies into halving April 2024

4. Consolidates post-halving

— REN Invest (@TheRENInvest) December 9, 2023

Buy the rumor, sell the news as they say.

Analysts have predicted a sharp downside move is possible immediately after potential spot bitcoin ETF approval. However, prior precedent suggests that ETF approval would lead to a longer-term price rally.

Dig up your NFTs

Prediction Time

It’s mid 2024 and things continue to heat up in the NFT space

Then…

The Magic Eden x Yuga marketplace retroactively airdrops its token to Opensea and ME users

Millionaires are minted and simultaneously the biggest NFT bull run we have ever seen gets set off…

— Grey (@grey_ae) December 10, 2023

NFTs have shown positive signs lately after being hit hard by the bear market. The NFT marketplace Blur massively raised its trading volume following an airdrop earlier this year, overtaking OpenSea as the top NFT platform by volume.

Elon drops a token

🔮2024 Predictions

Ads will completely disappear from this feed as X transitions to sustainable subscription models.

X will unveil and integrate a token which on its own will be worth a lot more than Elon’s purchase of Twitter.

— JON (@jonfarjo) December 10, 2023

Twitter’s rebrand as X this year fueled speculation about possible crypto integrations on the platform, especially given CEO Elon Musk’s ongoing interest in crypto.
The hype is yet to develop into anything substantive however, and Musk tweeted in August that X will “never” launch a token.

Source