Pantera Capital, a crypto investment firm, predicts that tokens with strong underlying protocols and proven product-market fit will outperform in the upcoming cycle. The firm emphasized the importance of careful token selection for long-term success, as performance will vary on a case-by-case basis rather than by sector or speculative trends.
While Pantera Capital did not specify particular tokens, managing partner Paul Veradittakit shared key predictions for 2024. These include a potential resurgence in Bitcoin due to the fourth halving event in April, increased institutional interest in Bitcoin ETFs, and advancements in programmability features. The firm also foresees growth in decentralized finance (defi) on the Bitcoin blockchain, with the total value locked potentially reaching 1-2% of Bitcoin’s market cap.
Looking beyond Bitcoin, Pantera Capital anticipates a shift towards social experiences in web3, with experiments in tokenized social interactions and the development of bridges connecting traditional finance with defi. The firm believes that the crypto industry has moved past a phase of bankruptcies and is now focused on redefining consumer, social, and developer experiences using blockchain technology.
For more insights on crypto trends, Binance Research has also provided forecasts for 2024. Stay updated by following us on Google News.