What Will Be the Biggest Crypto Trends in 2024 | EP 35
Jan 25, 2024
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The podcast discusses crypto trends in 2024, including the rise of Solana meme coins and the tokenization of real-world assets. They explore projects like Friend Tech and Arby Trum, debate Ethereum's narrative, and discuss the growth of the cryptocurrency market. The speakers also delve into NFTs as lifestyle brands and the challenges faced by Bitcoin layer 2 products.
Solana's low fees and efficiency make it a popular choice for trading meme coins.
Competition in the layer 2 landscape is increasing, with Solana exploring roll-up solutions.
Ethereum needs to address scalability and high fees to remain competitive and reclaim its narrative.
Deep dives
The Rise of Solana as a Trading Platform
Solana's low transaction fees and slippage make it an attractive option for traders looking to trade newly launched meme coins with minimal costs. The platform's popularity is growing, with two-thirds of the top 100 trending coins on the screener being on Solana. Traders are drawn to the cost-efficiency and efficiency of Solana, which is driving the growth of the platform.
The Competition Between Layer 2 Solutions
The layer 2 landscape is highly competitive, with different solutions vying for dominance. Ethereum's layer 2 solutions, including Optimism and Arbitrum, are popular choices for developers, but Solana is also gaining traction. Developers are exploring roll-up solutions on Solana, which could provide lower latency and higher throughput, bringing it closer to Solana's capabilities. Meanwhile, Celestia and Egan Layer are offering data availability layers for offloading data from Ethereum, adding to the competition and fragmentation in the ecosystem.
The Future of Ethereum and the Need for Aggressiveness
Ethereum is facing challenges in terms of scalability and high transaction fees, which have led to the rise of competing layer 2 solutions. To stay competitive, Ethereum may need to become more aggressive in tackling these issues and reclaiming its narrative. The modular versus monolithic debate is ongoing, and the future of Ethereum relies on its ability to adapt and offer solutions that meet the demands of the market.
Exploring Bitcoin NFTs and the Demand for BTC Beta
Bitcoin NFTs, known as ordinals, are gaining traction as a store of value for BTC beta. While Ethereum has been the dominant NFT ecosystem, Bitcoin offers a wealth of accumulated value that can drive the demand for ordinals. Blue-chip NFTs like Node Monkeys could see significant growth as Bitcoin miners and OGs seek exposure to the NFT market. While VRC20 tokens on Bitcoin face challenges in terms of accessibility, they could also gain traction if the buying process becomes more user-friendly.
The Potential of PFP NFTs
PFP (Profile Picture) NFTs, particularly the 10K PFPs, are expected to remain the most important category of NFTs due to their widespread adoption and existing distribution channels. Unlike music and gaming NFTs, which require support from established platforms, PFPs can easily be displayed on platforms like Twitter, making them accessible and appealing to a broader audience. Pudgy Penguins, a popular PFP collection, exemplifies the ability of PFPs to become a lifestyle brand with global appeal, transcending the realm of NFTs. This reflects the potential for NFTs to become consumer-oriented brands with cultural significance.
The Rise of SocialFi
SocialFi, the intersection of social media and decentralized finance, has significant potential for growth in the crypto space. Front Tech, a social finance app that enables users to trade personal token assets, represents a foray into SocialFi. By allowing users to launch their own tradable assets, Front Tech aims to tap into the trend of users speculating and investing in people. This reflects the broader concept of meme coins and tokens, where everything in crypto can be considered a meme. SocialFi is expected to gain traction as more users look to speculate on personal tokens and participate in the emerging social finance landscape.
Imran and Qiao discuss everything happening in crypto and the biggest trends in 2024. No BS crypto insight for founders.
Timestamps
(00:00) Intro (00:47) Welcome to Good Game (01:09) Qiao's top-of-mind topics (02:38) dogwifhat (WIF) (06:28) Qiao's Analysis of the Popular Meme Coins (11:04) People are Now Actually Using Stablecoins (15:55) Timing is Important (18:29) Tokenization of Real-World Assets and Diversification (22:19) Exploring Collectibles and Crypto Trends (28:30) Alliance Application Data Breakdown (33:31) Why Qiao is Very Bullish on Base (41:05) The Current State of Ethereum (47:13) Potential of Celestia and Bitcoin Demand (51:34) The Bitcoin Ecosystem (54:20) How Painful Buying BRC20 Tokens is (57:43) NFTs and Memecoins as Lifestyle Brands (58:44) Pudgy Penguins (01:05:40) Monthly Active Developers by Developer Type (01:06:33) What are we excited about ETH ETF (01:08:44) ETH ETF Prediction (01:09:01) Taking a Step Back to Appreciate Where We Are (01:10:00) FriendTech Messed Up (01:12:40) What Should a Social-Fi App Look Like (01:14:38) The Ends Justify the Memes (01:15:29) Social-Fi Will Be Big (01:16:40) BRC-20 and BTC Will Stay Big (01:17:46) The NFT Trifecta and Down WIF it (01:19:22) Solana Will be #1 in DEX and NFT VOL in 2024 (01:20:21) Easy Predictions (01:20:52) WIF Price Prediction (01:21:18) Pudgy Penguins Prediction (01:21:40) BTC Price Prediction (01:21:59) Stuck in the 4-year Cycle Mindset (01:22:45) What Startups Would You Like to See
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Web3 Founders: Apply to Alliance: https://alliance.xyz/ Alliance Twitter: https://twitter.com/alliancedao
DISCLAIMER: The views expressed herein are personal to the speaker(s) and do not necessarily reflect the views of any other person or entity. Discussions and answers to questions are intended as generalized, non-personalized information. Nothing herein should be construed or relied upon as investment, legal, tax, or other advice.
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