Nansen CEO Alex Svanevik has identified 11 catalysts that he believes could fuel a new growth cycle.
- The worst times are behind us. Investors who were forced to sell their assets due to financial problems disappeared. Fraudsters are behind bars;
- ETFs will appear within a few months, which will attract institutional investors;
- Fintech companies are actively entering the blockchain space. The release of PayPal's stablecoin is a kind of indicator, and other companies may also take similar steps, and some banks are planning to launch their stablecoins in 2024;
- The emergence of new SocialFi and gambling products where users will actually use them;
- NFT trading volume hit a low a few months ago and has been gradually growing since then;
- The launch of Web3 games developed over the past 2 years has already begun. Although I have tried several, we just need one game to change everything;
- Progress in technology makes it easier for ordinary people who are not yet very familiar with crypto to join. L2 and other low-fee solutions, account abstraction means entry into the world of cryptocurrencies without having to remember the phrase seed;
- DeFi is currently developing with LST and RWA tokens. Profitability in this area should no longer depend on Ponzi schemes, the focus is shifting to more sustainable models.
- MicroStrategy's unrealized profits from BTC have exceeded $1 billion, which may cause other companies to become FOMO and begin to follow suit;
- The Fed's monetary policy has not yet changed (there may be a reduction in interest rates);
- Bitcoin halving next year.
In October, Svanevik identified six main trends for the crypto market:
- Fintech frontend + crypto backend;
- Gambling and betting;
- RWA;
- Web3 games;
- Decentralized social networks;
- NFTs associated with real goods .
