2024 predictions see Bitcoin flying high, Coinbase skyrocketing, and NFTs for Swifties? Crypto thieves are singing the blues. Worldcoin got and upgrade and Fed's helping Bitcoin a bit.
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Crypto just had a great year.
The SBF case is closed.
Binance settled with DOJ.
The Bitcoin halving is scheduled for May 2024.
A complete rollercoaster.
Now, what is 2024 going to be like? Everyone is busy with predictions.
Bitwise has 10 predictions
An American crypto asset management company, released 2024 predictions:
Bitcoin to Soar Above $80,000: Bitcoin is predicted to trade above $80,000 and set a new all-time high.
Spot Bitcoin ETFs to Thrive: Spot bitcoin ETFs are anticipated to be approved and collectively become the most successful ETF launch of all time.
Coinbase's Revenue to Skyrocket: Coinbase's revenue is expected to double, surpassing Wall Street expectations by at least 10 times.
Stablecoins to Surpass Visa: Stablecoins will settle more volume than Visa as their use expands into payments and remittances.
JP Morgan to Tokenise Real-World Assets: Will tokenise a fund and launch it on-chain as Wall Street embraces the tokenisation of real-world assets.
Ethereum's Revenue to Double: Ethereum's revenue, generated through fees, will more than double to $5 billion.
Taylor Swift Launches NFTs: Taylor Swift will embrace NFTs to engage with fans, offer exclusive experiences, and share music royalties.
AI Assistants Embrace Crypto: AI assistants will start using crypto for online transactions, affirming crypto as "the native currency of the internet."
Decentralised Prediction Markets Boom: More than $100 million will be staked in decentralised prediction markets, becoming a "killer app" for crypto.
Ethereum's Transaction Costs Drop Significantly: Ethereum's EIP-4844 upgrade will drive average transaction costs below $0.01.
The mutual fund and ETF manager with over $76 billion in assets under management (AUM), has a bold Bitcoin price prediction for 2024
A recession in the US will coincide with the launch of Bitcoin ETFs.
The fourth Bitcoin halving will occur smoothly, and Bitcoin will rise above $48,000.
Bitcoin will reach a new all-time high in Q4 2024.
Ethereum won't surpass Bitcoin in market value but will outperform tech stocks.
Ethereum Layer 2 solutions will lead in TVL and trading volume.
NFT activity will surge.
Binance will lose its top spot in centralised exchanges.
Stablecoin market cap will hit a new high.
Decentralised exchanges will gain market share.
Bitcoin will offer yield opportunities in remittances and smart contracts.
A blockchain game will attract over 1 million daily users.
Solana will outperform Ethereum in TVL.
Decentralised physical infrastructure networks will gain traction.
Coinbase will report Layer 2 blockchain revenues due to new accounting standards.
DeFi protocols will integrate KYC features to attract institutional liquidity.
Read this: HODL tight fellas 🤌🏻
$100,000 in 2024?
Some financial institutions have made bold predictions, including Standard Chartered's forecast of Bitcoin hitting $100,000 by the end of 2024.
Matrixport projects Bitcoin reaching $63,140 by April 2024 and $125,000 by the end of the next year, citing inflation and monetary support as drivers.
“It feels that was a year to get ready for the bull run that is yet to come. But the sentiment is very hopeful for  and 25.”
TTD Fed 🏦
The Federal Reserve decided to leave interest rates at the range of 5.25% to 5.5%.
FOMC's Goals: The Federal Open Market Committee aims to achieve maximum employment and 2% inflation over the longer term.
Bitcoin exhibited a 3% surge in price following the Federal Reserve's decision.
Bitcoin's price reached $42768 at the time of writing.
Ethereum also responded positively to the news, with a 4.6% gain in the last 24 hours, trading at $2,276.
The entire crypto market cap joined the party, now totalling $1.69 trillion - 4.6% change in the last 24 hours.
Federal Reserve Chairman Jerome Powell noted.
The US economic recovery "has progressed more quickly than generally expected, and forecasts from FOMC participants for economic growth this year have been revised up since our September Summary of Economic Projections."
Wikipedia co-founder Jimmy Wales.
“Bitcoin doesn't work”
Jimmy Wales took to Twitter with a cheeky jab at Bitcoin, bragging about never losing money due to a forgotten bank password.
The crypto crowd didn't let this one slide and swiftly fired back with a few zingers.
And they are fun to read:
Responders pointed out that while banks may work for some, billions around the world still lack access to these financial institutions.
Some folks poked fun at Wikipedia's donation-driven model, suggesting that if they'd invested in Bitcoin earlier, there might be less need for constant fundraising.
And here's more
The SEC has postponed its decision on the Invesco Galaxy Ethereum ETF until February 6, 2024👇🏻
TTD Worldcoin 👀
Worldcoin's World ID feature just got a major upgrade.
Worldcoin has introduced "World ID 2.0," an enhanced version of its identity verification feature.
This new iteration seamlessly integrates with heavy hitters like Shopify, Mercado Libre, Reddit, Minecraft, and Telegram.
App developers now have the freedom to pick from different authentication levels, ranging from "lite" to "max," catering to various security needs.
Security with Flexibility: The updated system offers more ways for users to utilise their World ID while maintaining control over shared information.
Preserving Privacy: The "humanness digital passport" allows users to verify their humanity without revealing their identity.
Customised Coupons: Shopify stores, for instance, can now determine the required level of humanness for coupon redemption, tailoring it to their needs.
Fighting Retail Losses: Worldcoin aims to combat losses incurred by retailers due to bots and fraudulent activities, potentially saving up to $100 billion annually.
TTD Scams 🦹🏻
According to a recent report from blockchain intelligence firm TRM Labs, it seems like crypto hackers are having a tough time lately.
Losses amounted to roughly $1.7 billion, down from a whopping $4 billion in 2022.
Over 60% of the total losses in 2023 resulted from infrastructure attacks, particularly involving private key theft or compromised seed phrases.
The top 10 hacks accounted for approximately 70% of the total stolen funds.
Several of these top hacks exceeded USD 100 million, including attacks against Euler Finance (March), Multichain (July), Mixin Network (September), and Poloniex (November).
Why the decline?
Enhanced Security Measures: The crypto industry has adopted improved security measures such as real-time transaction monitoring and anomaly detection systems, strengthening of digital wallets, and security enhancements for exchange platforms.
Law Enforcement Efforts: Global law enforcement agencies have stepped up their efforts to combat cybercrimes in the digital currency realm.
Industry Collaboration: In 2023, the cryptocurrency industry promoted collaboration by sharing information about vulnerabilities, threats, and breach incidents. This collective approach has created a robust defense against cybercriminals.
TTD Surfer 🏄
Crypto exchange Blockchain.com plans to increase its headcount by 25% next year as it expands into Turkey and Nigeria.
The Interchain Foundation (ICF) plans to spend $26.4 million in 2024 to support the development of the Cosmos ecosystem.
Hitachi Research & Development and Concordium Foundation are collaborating to develop a biometric crypto wallet.
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The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.