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The crypto market has been a hot spot throughout its decade-long existence, with transformational changes every now and then. With 2024 already around the corner, predictions have already begun to surface, and the overall optimism present in the current crypto market only pushes them to new limits. Market experts have predicted a crypto bull run in 2024 that might probably extend to 2025, powered by several factors. Our guided report shows what will shape the next bull market and which industries in the market will observe massive growth. The quote below from the globally acclaimed author Farshad Asl sheds light on how the growth of cryptocurrencies will be parallel to changes in global lifestyle trends.

“Currencies evolve, mirroring our society's progress. Cryptocurrency, data, skills, trust, time, and social capital—these aren't merely trends, but reflections of a new paradigm. Adapt, learn, and leverage them, for success in the modern world demands this broadened understanding.”

The Current State of Crypto Market Affairs

According to the crypto statistics portal CoinMarketCap, the global market capitalization of cryptocurrencies in November 2023 has risen to $1.43 trillion, powered by several notable signs of optimism for the crypto world. Bitcoin ($BTC) remains the most dominant crypto coin (with over 52% of transactions), followed by Ether ($ETH

The chart below shows the evolution of crypto market capitalization in 2023. Note how the market cap has witnessed a steady rise this year with several breakthrough moments that made it get out of the crypto winter. The movements observed in the last part of the graph are owing to the anticipated approval of crypto ETFs.


The main factor fuelling the current crypto market has been the anticipation around the United States Security and Exchange Commission’s (SEC) possible approval of crypto ETFs. Several global investment firms have applied for their own ETFs based on Bitcoin and Ether, which are expected to be approved by the next year.

Meanwhile, several crypto projects have earned widespread recognition due to their new approaches in the market and refined user-centric elements. New platforms selling NFTs, NFT projects catering to the real world, and crypto applications promoting accessibility for users with any level of technological knowledge have been the leading players this year.

What Makes 2024 a Perfect Year for a Crypto Bull Run?

With 2023 nearing its end and the crypto space witnessing wholesale changes, many predict 2024 to be the year where cryptocurrencies will reach unprecedented heights, shattering already-set records. The main reason? Bitcoin Halving, an important event in the crypto space, is expected to take place around mid-April 2024, which reduces Bitcoin’s inflation and miner rewards by 50%.

Historically, crypto bull runs have occurred during the year Bitcoin halving events occur and typically extend to the subsequent year. 2013, 2017, and 2021 showcase such trends as the crypto market witnessed higher user adoption during those years, usually after the occurrence of Bitcoin halving events.

Apart from Bitcoin halving, the general crypto environment has been positive for reasons we saw earlier, priming the case for a bullish crypto season. The current market rise has demonstrated this for good, and it will only continue to grow to new levels when great things happen.

Adding to all these, people’s perception of cryptocurrencies has shifted dramatically from the last bull run. There are more people who want to hold a solid crypto investment portfolio than others, while another section of people want to tap into NFTs to attain unique experiences. Also, more centralized crypto platforms aim to become highly user-centric, making the crypto space attractive to more people.

Factors Projected to Boost Bullish Sentiments in the Crypto Market

The crypto market’s liquidity is projected to grow as investments are expected to flow from institutional investors. More investment firms are projected to enter the space in various ways, including direct investments in cryptocurrencies and crypto ETFs. Such moves can prove phenomenal for the wider market, given that players like BlackRock and Grayscale are involved.

The latest iteration of the crypto bull run will experience further enhancements powered by projects that attract the mainstream market. Many real-world brands and service providers have planned to enter the crypto space in various ways, and most see early 2024 as the ideal time to make an impact.

More Web2-native projects are predicted to migrate to Web3 technology in 2024 as they feel the necessity to involve decentralized operational mechanisms. Most are expected to tap into NFTs, as they offer unique proof of ownership for holders, entitling them to special benefits. Social networks, games, travel providers, and fashion brands have been among the venture types expected to take up blockchains in 2024.

Additionally, numerous existing crypto businesses are planning to unveil new features and projects. The rise of new layer-2 technologies like ZK rollup and Optimistic Rollups, alongside newer NFT standards like ERC-4337, are expected to make substantial contributions during this bull run.

Which Trends Will Be Instrumental in 2024’s Crypto Bull Run?

With so many factors ruling in favor of a crypto bull run in 2024, market experts have pointed out several trends that could leverage this bullish season. These trends include both virtual and real-world entities, signaling a strong sign of mainstream crypto adoption. One thing we must note is that this bull run would show that blockchain technology can tap into other emerging technologies for better operational performance and accessibility. Also, increasing pro-crypto stances among governments across the globe offer a sweeping opportunity for the crypto space to achieve its goal of becoming a mainstream industry worldwide.

Gaming

An unsurprising industry in the list, gaming tops as an impactful player in the upcoming crypto bull run. With advancements in Play-to-Earn (P2E) gaming powered by cryptocurrencies and NFTs, one can only expect greater strides for the gaming industry.

Many projects have already sketched plans to revamp their working models to ensure long-term feasibility over short-term hype, and 2024’s crypto bull run could be their turning point. As technology evolves to become capable of handling thousands of transactions from gamers, the industry’s growth is inevitable.

According to the Web3 statistics portal DappRadar, the top 10 NFT gaming platforms are shown below:

  1. MotoDEX
  2. Sweat Economy
  3. PipeFlare
  4. Trickshot Blitz
  5. Farmers World
  6. Gamifly
  7. Solitaire Blitz
  8. Pixels
  9. PlayEmber
  10. 5TARS

Metaverse

While the world might think that metaverses are gone for good, experts expect it to be a pivotal driver in the next crypto bull run. Despite Meta’s unofficial exit from investing in metaverse research and development, existing platforms have seen a fair deal of business.

According to Finland’s latest strategy report on metaverses, the Scandinavian nation expects to become a global leader in the industry by 2035. Market experts predict that nations aiming to lead in metaverse technology, like Finland, might begin working in 2024 when the crypto space grows bigger. Even global tech giants (other than Meta) have a metaverse strategy to utilize in the next year.

Fan Token

An underrated trend in the current crypto industry, fan tokens have evolved drastically since they first burst into the crypto market. With an amalgamation of benefits to token holders, they have always intrigued hardcore fans of sports teams. Numerous sports teams worldwide have created their own fan token projects, and the next bull run can elevate these cryptos’ stature.

CryptoSlam’s fan token rankings show a brewing market for these tokens, as the top ten token projects include some from the world’s most prolific sports teams. Such trends only strengthen the prospects for fan crypto tokens loaded with more tangible utilities.

  1. Paris-Saint Germain
  2. FC Barcelona
  3. Galatasaray
  4. Manchester City
  5. OG
  6. Alpine F1 Team
  7. Lazio
  8. FC Porto
  9. Juventus
  10. Santos FC

Non-Fungible Token (NFT)

Contrary to the mainstream media headlines, the potential of non-fungible tokens has remained intact despite going through a rough phase in 2023. The anticipated crypto bull run in 2024 would be a new stepping stone for NFTs as more people are expected to enter the space.

  • The NFT statistics portal CryptoSlam tells us that the total number of NFT buyers in the last 30 days has increased 512% compared to the previous 30 days, with the trade volume witnessing a 125% rise.
  • This report from Statista indicates massive growth for the NFT market till 2027 at a CAGR of 18.55%, meaning that 2024 could be the perfect time when the market gets going.

Decentralized Finance (DeFi)

Decentralized Finance (DeFi) has been yet another trend that has driven the cryptocurrency market for a long time, and it is expected to continue in 2024. Applications offering provisions for staking, lending and borrowing, crowdfunding, insurance, exchange, flash loaning, tokenization, and yield farming are projected to continue their good work.

The DeFi dashboard DeFiLlama states that almost $100 billion is locked across smart contracts present in decentralized finance applications. Alongside a growing market for DeFi, this number only indicates how DeFi will be a driving force in the next crypto bull run in 2024, with platforms like Uniswap, Aave, Maker, and Lido projected to grow immensely.

Maximize the Crypto Bull Run in 2024 to Yield Immense Business Benefits!

Fundraising

When crypto fundraising became so widespread during the 2017 crypto bull run, no one thought this domain would become so pivotal so soon. With the next crypto bull run down the corner, crypto crowdfunding projects, especially those using the Initial DEX Offering (IDO) model, are predicted to go in full swing.

With the increase in the number of startup ventures opting for crypto-based fundraising, the next crypto-bullish season will only fuel the funding landscape. With blockchain-based systems offering a peer-to-peer setup for fundraising without intermediaries, this domain will contribute more to the global economy.

Real-World Asset (RWA) Tokenization

Tokenization of real-world assets (RWAs) has been a hot topic ever since a report from 21.co was released earlier this year. The report said RWA tokenization will have a market size exceeding $10 trillion by 2030. The 2024 crypto bull run will be a crucial moment for this domain as more large-scale real players like JP Morgan and Bank of America are planning to invest in tokenized RWAs.

This trend will become a beacon for making real estate accessible to everyone as investment barriers are reduced substantially. The role blockchain technology will play here also lowers the need for intermediaries and the possibility of scams.

Decentralized Autonomous Organization (DAO)

The crypto space’s nature of being community-centric has brought models like decentralized autonomous organizations (DAOs) that let people take part in making decisions. The case for DAOs is set to strengthen to new levels as more organizations plan to tap into collective decision-making powered by governance tokens.

Market onlookers state that DAO protocols can be an efficient way for Web2 and brick-and-mortar enterprises to become compatible with Web3 technology. With cryptocurrencies on the verge of experiencing yet another bullish season, DAOs can transform how businesses function in the digital space.

Artificial Intelligence (AI) x Web3

Artificial intelligence (AI) saw tremendous growth in 2023, powered by the advent of several breakthrough applications that garnered widespread popularity. The next crypto bull run in 2024 is expected to gain immensely from AI, too, as many crypto projects aim to automate operations to ensure better transparency and efficiency.

AI technology can enable blockchain-based projects to offer personalized user experiences, improve in-app security, and automate processes in a flash (especially during high user traffic). Likewise, the upcoming bullish season can elevate AI projects greatly through other means, such as crowdfunding. This can be witnessed by the rise of crypto tokens for AI projects, including SingularityNET, Fetch.ai, 0x0.ai, and Artificial Liquid Intelligence.

Cryptocurrency Wallets

Cryptocurrency wallets have been making headlines recently, mainly owing to Magic Eden’s cross-chain wallet and OKX’s expansion of its wallet services to Brazil. With a full-scale optimistic season expected in 2024, crypto wallets can be instrumental in creating a bigger impact as they aid users in holding and transacting cryptocurrencies.

Several advancements are expected to occur in the domain, such as integration with other applications that can accelerate their adoption. Existing projects will aim to go multi-faceted by offering apps based on smart contracts and multi-party computation (MPC), apart from custodial and conventional decentralized services.

Cryptocurrency Payments

Crypto payment portals have been the unsung orchestrators of the market by facilitating seamless transactions between crypto and fiat currencies. The recent days have been full of good news for the sector, as iVendPay has begun offering NFC-based payments, and AlchemyPay has added new on-ramps in Europe.

Experts see these trends as just the trial for much larger ideas that might be realized during the 2024 crypto bull run. These systems’ role will be pivotal next year, with more brands in food and dining, luxury retail, travel and hospitality, and online services planning to accept crypto payments.

Governmental Regulations

Cryptocurrencies and governments have been at opposite ends for a long time, and recent times have been encouraging, with several nations legislating rules to regulate cryptos. The anticipated crypto bull run could bring more countries into regulating blockchain-based assets, as their benefits will likely overshadow their misunderstood nature.

When we speak of crypto regulations, countries like the USA and UK flash instantly, as they have been the scene of intense court battles and open talks from political and tech leaders. Most crypto-savvy individuals and experts hope these nations will opt for friendlier regulations for crypto usage after 2024’s crypto bull run, giving the industry a much-needed boost.

Scalability Solutions

Scalability has always been a concern in the blockchain space, whose impact has been noted during every bull run. 2024’s crypto bullish season might be different, according to market researchers, who predict layer-2 solutions based on batch processing technologies like Optimistic Rollups and Zero-knowledge Rollups will take the center seat.

Loads of solutions tapping into these revolutionary technologies have already been unveiled, and more are under development, signaling a bright and seamless future for the crypto space. Optimism, Arbitrum, Polygon zkEVM, zkSync, Starknet, and ImmutableX have been famous in the current market and are expected to continue their good performance in the next year.

Security Solutions

Security has been a hot topic of discussion in any random blockchain discussion. Many predict 2024 could be the ideal time for projects offering securing solutions for blockchains to shine bright. With a bull run on the cards, businesses working on building audit solutions for smart contracts and automated authentication systems are projected to grow manifold.

Decided Which One Could Be Your New Crypto Business’s Foundation?

What Should a Prospective Investor/Entrepreneur Note Now?

With everything we have seen in this guide on the upcoming crypto bull run in 2024, you might ponder about how to proceed. Regardless of whether you are an investor or an entrepreneur, there is a truckload of opportunities in the crypto market that you can leverage to your advantage.

In any case, you should consider starting small and evolving big as time goes by. Times like the crypto bull run, when everyone is optimistic about the industry, are perfect for projects to unleash the best products. As investors, follow market trends and make your own decisions based on research to have the best experiences during the bullish season.

Conclusion

Henceforth, we have given you a guide on which trends will have a noticeable impact in the 2024 crypto bull run. With events like Bitcoin halving and impending approval for crypto ETFs, we cannot ignore a strong possibility for a bullish season, and traces can already be seen if you follow market trends closely. If you are an aspiring business looking to enter the crypto market, now is the ideal time to start building your project. With our experienced experts, you can easily unveil a futuristic venture that brings your novel ideas to life. We hope the next crypto summer brings brightness to your business!

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