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 <p>The president of the Avalanche (AVAX) development firm Ava Labs is issuing his crypto predictions for 2024.</p>
 <p>In the interview with CNBC, Ava Labs president John Wu talks up the Friend.tech challenger Stars Arena, a decentralized social finance application (SocialFi) that launched on the AVAX blockchain in late September.</p>
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 <p><em>“We just talked about Stars Arena, and they’re going back online, and we will see one of these SocialFi DApps figure it out. There’s been a couple already, and they’ve had booms and some busts, but sooner or later they’re fixing the business model and it will work well. So that’s one of my predictions.”</em></p>
 <p>Wu also predicts the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin (BTC) exchange-traded fund (ETF), potentially even in the fourth quarter of 2023.</p>
 <p><em>“When that happens, I anticipate a lot of inflow.”&nbsp;</em></p>
 <p>The SEC delayed decisions&nbsp;on a slew of spot BTC ETF applications, including BlackRock’s, in late September.</p>
 <p>The final deadline for the SEC to review one application, the ARK 21 Shares Bitcoin ETF, is on January 10th.</p>
 <p>In terms of updates to Avalanche, Wu notes that Ava Labs plans to roll out real-world assets, some of which will be announced in November.</p>
 <p><em>“These are, I think, game-changing developments with… TradFi banks and asset managers. These announcements will be really big, I’m super excited for these institutional, real-world assets being deployed on Avalanche.”&nbsp;</em></p>
 <p>Avalanche is an Ethereum (ETH) rival. The project’s native asset, AVAX, is trading at $8.93 at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ava-labs-president-john-wu-makes-2024-crypto-predictions-says-big-developments-coming-for-avalanche-ecosystem-tbt67051.html">https://thebittimes.com/ava-labs-president-john-wu-makes-2024-crypto-predictions-says-big-developments-coming-for-avalanche-ecosystem-tbt67051.html</a></p>

Ava Labs President John Wu Makes 2024 Crypto Predictions, Says Big Developments Coming for Avalanche Ecosystem

TheBitTimes

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