In recent times, top cryptocurrencies have been experiencing explosive growth – a development that has drawn millions of investors into the market. The later part of December 2023 helped build confidence in digital assets as Bitcoin and other crypto staged an exceptional recovery from the previous flops.
Thanks to a deluge of positive catalysts during the early part of 2024, the positive trend has persisted, making investors anticipate that the rest of the year would be great for both BTC and other leading digital assets. There is no sign of slowing down in the crypto market this year and valuation may still go higher which is great for early-stage crypto investments.
You don’t need a crystal ball to see the huge opportunities that the crypto market presents to investors this year and this is one of the reasons why events like best crypto presale 2024 are thriving. Through this presale, The Pepe of Wall Street, dubbed, the best baller stonk-flipper in the crypto landscape leverages Wepe Token to launch his own degen DEX.
Statistics show that the global crypto market is estimated to a hit high of $51.5 billion (USD) before the end of 2024 and predictions are that by 2028, it may take it to $71.7 billion, little wonder that the number of investors keep increasing. Below are the reasons why crypto is considered great for investment in 2024.
The popular cryptocurrency Ethereum had a strong performance in 2023 and coupled with impending milestones such as EIP-4884’s Proto-danksharding, it is expected to have a greater enhancement in 2024. However, “The Flippening” may not happen yet and compared to BTC, it’ll still remain lesser in market cap.
Ethereum's Layer 2 Dominance means that Post-EIP-4844, Ethereum’s Layer 2 networks such as Arbitrum and Polygon are anticipated to be leading in TVL (Total Value Locked) and transaction volume. This is a huge attraction for early-stage crypto investments which are hard to resist.
Because of its natural ability to function outside the boundaries of traditional financial systems via decentralized networks, experts have a strong belief in the capacity of blockchain technology to continually disrupt multiple industries positively, including the global financial sector. This is expected to expedite the adoption of digital assets within the mainstream as more and more financial institutions start accepting and offering crypto while traditional investors become a bit more open to making crypto investments
Crypto investments show great positive signs/predictions in 2024 as Mastercard is already poised to directly support some top digital assets on its network. After Citi experienced a surge in customer demand, it started considering launching its crypto services. What of the globe’s apex banks that are massively planning to introduce cryptocurrencies and businesses that are making inventions like building new e-commerce and payment rails in the retail sector and using cryptographic authentication/ verification in the financial segment?
Bitcoin halving occurs at 4-year intervals and with the last one occurring in 2020, another is expected in 2024. Bitcoin halving is a catalyst for Bitcoin as rewards that will be distributed in recently mined BTC (the rewards received by miners for authenticating transactions/ trades on the blockchain) are divided in half, limiting the growth rate of BTC supply.
When BTC halving occurred in 2012, 2016, and 2020, it caused a hike in the value of Bitcoin, and the same is expected to happen in 2024 and coupled with the increasing value of other tokens, it is expected to attract more investments, especially the newbies in the crypto industry.
Central banks across the globe are seriously considering creating CBDCs (Central Bank Digital Currencies). After China prohibited crypto exchanges within its borders, the ban led to the creation of the countries CBDC and several big nations are expected to follow suit in 2024.
According to the IMF (International Monetary Fund), multiple financial authorities across the globe are seeking direction in chasing central bank funds. While there are nations that don’t have an urgent need to create a CBDC in their jurisdictions, there are many who have already started experimenting with this option in the event that they may actually need to set it in place in the future
It is quite true that the creation of Central Bank Digital Currencies has the potential to push decentralization aside, it can equally accelerate the global adoption of crypto and blockchain technology. In addition, its fraud-reduction capacity is an apt way to boost crypto transaction
There seems to be too much excitement buzzing around crypto investments and blockchain technology in 2024 and the reasons for this enthusiasm appear to be all valid. With BTC inching towards mainstream adoption, its expected halving in 2024, and the adoption and implementation of CBDCs, early-stage Crypto investments appear to make financial sense.
Those who are comfortable with the volatile nature of digital assets can go ahead and take a chance in the investment market and they might just reap tremendous rewards in the end.
Disclaimer
The information on Coinsniper is user-generated and not verified. Coinsniper does not provide financial advice or facilitate transactions.
Also note that the cryptocurrencies listed on this website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments.
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