gm gm everyone, and happy new year! Last time we talked, we set you up with a primer seven months ago about how to farm on Solana.
That paid off huge for those of us here at RELaiTED, and what better way to get back into things than with the start of a new year, and fittingly, with a prediction thread.
2024 Predictions
The Bitcoin ETF will be approved
This seems almost a formality at this point, but that recent intern newsletter release shows you that reactions will be harsh across the market if the ETF is denied. Really, it’s just the main narrative driving everything right now. It also spawned some takes from people who think it will be denied. It won’t.
An ETH ETF will launch as well
Once the BTC ETF is approved, the flood gates are going to open as regulators signal they are open to crypto like they haven’t been previously. We are going to get an ETH ETF this year as well, and honestly, I wouldn’t be surprised to see a SOL/other alts ETF follow soon enough.
Solana will outperform Ethereum by almost all meaningful metrics in 2024
These types of tweets have become commonplace over the past few months, and I expect that to continue. Particularly as more and more people come into (and return to) the crypto space, the ability to participate on Solana simply can’t be replicated by Ethereum. As more users enter the crypto space Solana first, or as they switch from other chains, Solana is going to continue to outperform Ethereum in most meaningful metrics, and it will become retail’s chain of choice.
NFTs won’t be as big as they were last cycle
I’m not saying that they won’t have huge rallies and that new NFTs won’t hit aths - just that most older NFTs will never hit ath again, and it’ll be harder to find newer NFTs that really outperform the gains you can get on tokens, etc., at equal risk levels. Even though we are going to have a lot of new market entrants coming in this cycle (as always), I feel like the wool was generally pulled back from our eyes in regards to NFTs and the value they do (and don’t) offer people. Art and PFP NFTs certainly fall into different categories, but personally, I’d rather have a portfolio of tokens than NFTs for this cycle.
Kanpai Pandas and Pudgy Penguins will be the exception
Two projects from “last cycle” that will continue to do well this cycle will be Kanpai Pandas and Pudgy Penguins, largely because they are much more than just PFP projects. Both of these companies are venturing into the real world to find sources of revenue and to become much more than just a cute PFP. Not many people in this space I’d bet on more than Bagz either, tbh.
2024 will be the year of the airdrop
It’s not the first time airdrops became a popular meta, and it hopefully won’t be the last, but I don’t think we’ve even scratched the surface of what is going to take place this year in regards to airdrops. Just off the top of my head, on Solana alone upcoming we have Jupiter, Dymension, Marginfi, and Tensor, not to mention all the drops coming to Saga holders, different chains, etc. I imagine the airdrops we see this year may shame some of the ones in the past - it’s a great time to be messing around on different blockchains.
We are at the start of the biggest bull we’ve seen yet
I’ve been around the crypto space since 2012 and have been through my fair share of bull markets. Each cycle, people talk about how the next one is ‘the biggest, and the last,’ and so far, only half of that has been true. I’m betting that continues - this won’t be the last cycle, but this one will be the biggest one we’ve seen yet.
RELaiTED will put out more newsletters
I’d love to keep this one going, but I want to get it out before any ETF news decides to get dropped. I hope you all have been having a great Christmas break, and blessings upon your bags!