10 Crypto Projects to Pay Attention to For 2024 Summarized
5 minute read to keep up in 2024
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Summary
Resolution of Binance’s Case with the SEC (2m 3s)
The crypto market has been intensely focused on Binance's case with the SEC, with the final fine amount falling within expectations, considering Binance's profitability.
The resolution will likely bring a positive market shift, addressing concerns about Binance's potential insolvency and reducing uncertainty around structural risks.
However, the regulatory environment remains unclear, especially regarding the SEC's stance on crypto regulations, indicating ongoing challenges.
A summary containing 10 projects across 8 verticals below!Pick for NFT Vertical: Blur & Blast L2 (5m 33s)
Blur has rapidly become a dominant force in the NFT exchange market, holding about 60% of market volume
Its aggressive and innovative approach, similar to Binance's, contrasts with OpenSea's more compliant, traditional method.
The launch of Blast, Blur’s L2 solution, and the planned perpetual DEX for NFTs mark strategic moves to boost market speculation. Blast's successful launch, achieving $342 million in TVL swiftly (now $816 million), demonstrates strong market interest and strategic execution.
Additionally, Blast's native-yield mechanism positively impacts Maker and Lido in the short to medium term.
Betting on L2s via Data Availability Layers (12m 6s)
L2 solutions like Optimism, Arbitrum, and other exchange-specific L2s like Bybit's Mantle and Coinbase's Base have shown remarkable growth.
Data availability layers, essential for L2 scalability, align with Ethereum's roadmap.
The substantial market for rollups, paying around $10M per month for transaction data publication on Ethereum, underscores the significance of this space.
Celestia stands out as a particularly interesting DA layer bet, aligned closely with Ethereum's future vision and offering substantial technical advantages.
Alternative L1 to Ethereum: Monad (21m 16s)
Monad emerges as an exciting alternative L1 blockchain, offering parallel execution capabilities similar to Solana but within an EVM-compatible framework.
Its robust developer tooling and user interfaces, including Metamask and Etherscan, contribute to its broad appeal.
The expertise of Monad's team in scaling EVM is a key factor in its potential success.
Sei Network, also featuring parallel execution and initially developed with Cosmos SDK, recently pivoted to EVM compatibility.
What’s Next for DeFi: Ethena & Aevo (25m 25s)
Ethena's innovative delta-neutral stablecoin offers an internet-native yield by utilizing ETH staking and short positions on centralized exchanges.
Unlike other stablecoins relying on real-world assets, Ethena's approach is fully crypto-native and does not depend on artificial inflation.
Aevo, developed from Ribbon Finance, is gaining traction in the bear market with its focus on decentralized options and derivatives, becoming a credible competitor to platforms like Deribit.
Different Type of Web 3 Gaming: Rollbit (31m 30s)
Rollbit, a decentralized casino, stands out in the gaming sector with its diverse offerings and substantial revenue growth, estimated to be over $300 million annually.
The platform's native token system, offering revenue sharing and product discounts, adds a crypto-native element, setting it apart from traditional online casinos.
Other Side of Real-World Assets: DePIN - Hivemapper (38m 30s)
Hivemapper's innovative approach involves a network of car-mounted cameras for live mapping data collection, challenging conventional methods like Google Street View.
Despite the successful incentivization of data collection through $HONEY tokens, creating demand for this service remains a key challenge in the DePIN sector.
New Contender in the Oracle Space: Pyth Network (43m 18s)
Pyth Network, as a new Oracle solution, offers a fresh alternative to Chainlink, initially finding success in non-EVM chains.
Chainlink maintains its lead in the Oracle market, but Pyth Network is gaining ground, especially in expanding to EVM chains.
The high valuations of Oracle tokens, especially Chainlink, are met with skepticism, raising questions about their market cap in relation to actual revenue.
Retail Favorite - Meme Coins: Memeland (47m 03s)
Meme coins, particularly Dogecoin, have seen heightened interest due to their potential utility and endorsements from figures like Elon Musk.
Memeland’s $MEME, while positioned as a meme coin, is actively developing products to engage crypto newcomers, starting with staking.
The team behind $MEME, also creators of 9GAG, brings significant potential for wide social reach and distribution, indicating a strong capacity
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