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HomeFinanceOne other ETH ETF? Veteran VC Vance Spencer shares his ideas

One other ETH ETF? Veteran VC Vance Spencer shares his ideas

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U.Right now – As the brand new bull market gathers momentum, Netflix (NASDAQ: ) alum and veteran crypto VC Vance Spencer trace at numerous milestones the blockchain section may attain within the coming two years. Though his prediction sounds optimistic, he additionally recommends being ready for a “curler coaster”.

ETFs may very well be subsequent, Vance Spencer speculated

The fourth (BTC) halving, Ethereum ETF approval and rising institutional adoption of digital property are β€œsubsequent” for us in 2024, Spencer shared along with his 85,000 followers on X. Usually, the crypto journey at this stage needs to be thought of a marathon, not a dash .

Web3 video games can even carry one other 100 million lively customers to the cryptocurrency scene. Regulatory hostility could also be on borrowed time, because the possibilities of a β€œpro-crypto” administration within the US in 2025 are estimated at 70%.

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By way of macroeconomic context, the market will undergo a full fee reduce cycle with charges returning to 2-3%. The final time this indicator was beneath 2% was in mid-2022.

On the similar time, the scenario on the cryptocurrency market is not going to be a mattress of roses: Each market participant needs to be ready for a curler coaster trip within the subsequent 24 months.

See also  Can Solana (SOL) Proceed Its Upward Approach In 2024?

It needs to be famous that Spencer nearly succeeded in precisely predicting the approval date of Bitcoin ETFs. In early July, he believed they may very well be greenlit by the top of 2023.

$1 Billion for DeFis: New Milestone for 2024-2025

In the identical July thread, he emphasised that the approval of a Bitcoin ETF would pave the way in which for ETFs on numerous altcoins.

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Along with the ETF saga, the VC investor foresees a brilliant medium-term outlook for the DeFi sphere. As cryptocurrency costs rise, revenues from DeFi protocols will develop β€œsuper-linearly”. A minimum of two main DeFis will exceed $1 billion in income within the subsequent 24 months.

He beforehand predicted the emergence of a β€œFAANG of DeFi” that may show sustainable money stream and never be weak to β€œvampire assaults”.

This text was initially revealed on U.Right now

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