Ethereum

2024

Aleph Zero

<h4>This is Part — 3 of our 4 part series on Crypto Trends for 2024. We look into trends that should headline this year. The articles are loosely based on this <a href="https://resources.messari.io/pdf/crypto-theses-for-2024.pdf" target="_blank" rel="noopener">Messari Report</a>.</h4> 
We dive straight into this new Crypto Trends chapter for 2024. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 #17 Ethereum remains all-in on its rollup centric view of the future, and much of the economic value in this year's rally will go to those rollup chains' tokens vs. ETH. 
 The spread trade is almost too easy. <a href="https://t.co/UfyzMli4HO">pic.twitter.com/UfyzMli4HO</a> 
 — Ryan Selkis (d/acc)<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fab3.png" alt="🪳" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@twobitidiot) <a href="https://twitter.com/twobitidiot/status/1742235890137678008?ref_src=twsrc%5Etfw">January 2, 2024</a>
</blockquote> 
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<h5>Layer 1 Networks</h5> 
For layer 1 networks, there are two words for 2024, interoperability and <a href="https://www.altcoinbuzz.io/?s=privacy" target="_blank" rel="noopener">privacy</a>. Another feature that may change the L1 landscape is modular chains. We showed our support for interoperability throughout 2023. It’s what the crypto industry needs to go forward. Privacy is another feature that we support.&nbsp; So, let’s take a look at some Layer 1 chains for 2024. 
<ul> 
 <li>Ethereum</li> 
</ul> 
Ethereum still holds the #1 position. The first-mover advantage is still working. However, developers will look for faster and cheaper options to build on. Close to home, this will be L2s. Other chains took over many key features. Tron has the stablecoin market cornered. Stellar did the same for RWA, and DePin calls Solana its home. Furthermore, DYDX moved to <a href="https://www.altcoinbuzz.io/?s=cosmos" target="_blank" rel="noopener">Cosmos</a>. That’s the biggest Perp DEX in DeFi. 
However, L2s on Ethereum will become almost free to use with the Cancun-Deneb upgrade. It will reduce gas fees by 90-99%. Furthermore, Ethereum’s market cap is 10x as high as the next contender. There will not be one single Ethereum killer. However, over time, too many protocols will chip away at Ethereum’s position. 
<ul> 
 <li>Solana&nbsp;</li> 
</ul> 
<a href="https://www.altcoinbuzz.io/?s=solana" target="_blank" rel="noopener">Solana</a> is last year’s comeback kid. From a price below $10 in December 2022, it momentarily peaked at $121 almost to the date, a year later. Where will this end for Solana? Going above its ATH of $260 in November 2021 will be difficult. There are many more tokens in circulation now, compared to 2 years ago. There’s also the situation of subsidizing the transaction fees. See the X post below. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Solana fanboys don't know they are actually paying $100 mil in fees / month to use the network. 
 SOL runs on subsidies &amp; inflation = price crashes = subsidies crash = validators leave = chain halts. 
 Now you know why SOL has INFINITE supply = death spiral to zero? 
 It costs… <a href="https://t.co/BZTkkV4xGa">pic.twitter.com/BZTkkV4xGa</a> 
 — Duo Nine <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> YCC (@DU09BTC) <a href="https://twitter.com/DU09BTC/status/1738490059039682858?ref_src=twsrc%5Etfw">December 23, 2023</a>
</blockquote> 
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<ul> 
 <li>Celestia</li> 
</ul> 
<a href="https://www.altcoinbuzz.io/?s=celestia" target="_blank" rel="noopener">Celestia</a> came onto the scene with a great airdrop. If you held on to their drop, you’re eating well in 2024. Their modular chain design is going to make waves. A monolithic chain, like Ethereum, completes all tasks itself. However, a modular chain concentrates on one task. It delegates other tasks to a different chain. As a result, modular chains offer superior scalability and cheaper transactions. Celestia seems to have only started its 2024 run. 
<h6>Other Chains to Keep an Eye Out For</h6> 
<ul> 
 <li>Lukso — Developed by Fabian Vogelstetter and his wife, Marjorie Hernandez. Vogelstetter developed the ERC-20 token. In 2023, the chain launched its mainnet and its native LYX token. It’s interoperable and scalable. Furthermore, it offers a new onboarding feature with its <a href="https://www.altcoinbuzz.io/?s=universal+profiles" target="_blank" rel="noopener">Universal Profiles</a>. Use Web2 features for Web3 log-ins. <a href="https://www.altcoinbuzz.io/?s=lukso" target="_blank" rel="noopener">Lukso</a> offers an interesting mix of lifestyle, NFTs, gaming, and the metaverse. As a result, they are well on their way to a top 20 position by market cap.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We’ve reached another special milestone for the LUKSO ecosystem <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b50.png" alt="⭐" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 There are now over 5,000 Universal Profiles on LUKSO Mainnet <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f44f.png" alt="👏" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26d3.png" alt="⛓" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Create yours today: <a href="https://t.co/7vkVltZvkC">https://t.co/7vkVltZvkC</a> <a href="https://t.co/Wk1UnyVFLP">pic.twitter.com/Wk1UnyVFLP</a> 
 — LUKSO (@lukso_io) <a href="https://twitter.com/lukso_io/status/1744460601173110840?ref_src=twsrc%5Etfw">January 8, 2024</a>
</blockquote> 
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<ul> 
 <li>Aleph Zero — There’s much going on in the privacy space. <a href="https://www.altcoinbuzz.io/?s=aleph+zero" target="_blank" rel="noopener">Aleph Zero</a> is the chain to keep an eye out for in 2024. Their privacy DEX Common is in the testnet phase. Liminal, their core privacy product, should see the day of light later this year. See the video below. It’s a fast, secure, scalable, and low-cost chain. In Europe, the chain complies with local laws.</li> 
</ul> 
<iframe title="Introducing Liminal: a multichain privacy layer" width="696" height="392" src="https://www.youtube.com/embed/X6CQnRl7QcI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
<h5>DeFi in 2024</h5> 
Global financial assets represent $150 trillion worldwide. However, DeFi only takes 0.01% out of this pie. In other words, there’s plenty of room to increase the size of that piece of pie. DeFi has weathered quite a few storms by now. For example, it kept working during the Luna collapse. It also came through the FTX disaster. This actually may have helped DeFi to win some more users. 
<ul> 
 <li>DEXes (Decentralized Exchanges)</li> 
</ul> 
Overall, we see that <a href="https://www.altcoinbuzz.io/?s=uniswap" target="_blank" rel="noopener">Uniswap</a> is still the leading DEX in DeFi. It also keeps cementing that place with the right moves. For instance, it launched a wallet and there are plans for V4. On Avalanche we see Trader Joe taking first spot. Osmosis has this role in Cosmos and Orca in Solana. On the BNB chain, PancakeSwap still seems to be the only player in town. 
The RocketX aggregator is also a player to keep in your sights for 2024. Of interest may be Common on Aleph Zero. This may give an entirely new feel to a DEX by offering a privacy option. See the picture below. 
<img decoding="async" class="aligncenter wp-image-131325 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-1024x463.jpg" alt="Crypto trends" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-1024x463.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-300x136.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-768x348.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-1536x695.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-696x315.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-1068x483.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_-928x420.jpg 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-297-Common-I-The-Private-DeFi-suite-common.fi_.jpg 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://common.fi/" target="_blank" rel="noopener">Common</a>&nbsp; 
One thing DeFi is most likely not looking forward to is regulation. However, <a href="https://www.altcoinbuzz.io/?s=KYC" target="_blank" rel="noopener">KYC</a> and AML may be in the cards for DeFi. Also, dYdX still leads the perp DEXes with a 70% market share. However, their combined trading volume in DeFi barely goes above 2%.&nbsp; 
On the other hand, <a href="https://www.altcoinbuzz.io/?s=Liquid+staking" target="_blank" rel="noopener">Liquid staking</a> is the field to watch in DeFi. This offers the biggest growth opportunity. It is a multi-billion dollar industry, bound to even grow bigger. This, in contrast to bridges, they remain vulnerable. Some of DeFi’s biggest hacks happened with bridges. However, they remain necessary for a multichain future. Wanchain sets examples in this field, being hack-free since it launched, 7 years ago. 
Other areas to look at in DeFi are oracles. Chainlink got hefty competition from Pyth. That’s going to be an interesting playing field. RWA, as we mentioned already, will explode. Another fascinating area is Bitcoin. However, more on Ordinals in Part 4. 
<h5>Conclusion</h5> 
This is Part 3 of our 4-part series on crypto trends in 2024. We covered Layer 1 networks and DeFi in this article. Here’s a link to <a href="https://www.altcoinbuzz.io/spotlight/crypto-trends-for-2024-part-2/" target="_blank" rel="noopener">Part — 2</a>. Keep an eye out for our last article in this crypto trends series. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" alt="" width="714" height="88" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" sizes="(max-width: 714px) 100vw, 714px"></a> 
<iframe title="Breaking Down 3 Altcoins Set to Dominate 2024 + Key Crypto Narratives 💪" width="696" height="392" src="https://www.youtube.com/embed/boFRp5Cq3eo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. 
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. 
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The post <a href="https://www.altcoinbuzz.io/spotlight/messari-report-crypto-trends-for-2024-part-3/">Crypto Trends for 2024 — Part 3</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Crypto Trends for 2024 — Part 3

Altcoin Buzz

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