Aylo: Ethereum to reach new all-time high in 2024, outperforming Bitcoin

With 80,000 followers on Twitter, the KOL - Aylo, shares his views on various cryptocurrency areas in 2024 in one-third of his posts. According to him, Ethereum went through a tough period in 2023, but still remains the second largest cryptocurrency by market capitalization. Looking ahead to 2024, ETH has many catalysts and is expected to have a better year. He predicts that ETH will break its all-time high and outperform BTC.

Aylo: Bitcoin is likely to see a significant drop in Q1, not when the ETF is approved.

Ethereum Spot ETF to Follow Bitcoin's Lead

Aylo believes the most obvious catalyst will be the launch of an Ethereum Spot ETF after the Bitcoin Spot ETF, shifting the market's focus to Ethereum Spot ETFs. Essentially, the market will be replaying the ETF game.

According to reports, there are currently at least eight asset management companies that have applied for the issuance of Ethereum Spot ETFs, including BlackRock, Fidelity, Franklin, and others listed below.

EIP-4844 to Reduce L2 Costs

EIP-4844 will reduce the costs of Layer 2. As transactions become cheaper, there is a chance to see more L2 activities in 2024. This will also lead to explosive growth in L2. However, Aylo believes that costs will not decrease as much as people imagine.

Ethereum Shanghai Upgrade to Include EIP-4844, Vitalik: First Step Towards Significantly Lowering L2 Costs

Launch of Re-Staking Project EigenLayer

One of the most exciting catalysts should be the upcoming launch of EigenLayer later this year. Yield remains a significant issue for Ethereum, and re-staking ETH for lucrative returns will be very attractive. Because this industry loves leveraging, or it can also be called "capital efficiency."

How will the re-staking project EigenLayer change the Web3 infrastructure ecosystem?

Aylo's Preferred Layer 2 Projects

Aylo points out that there are too many options in the Layer 2 race currently, all with the potential for excellent performance in 2024. He specifically mentions:

• Arbitrum ARB and Optimism OP as the top two competitors
• Mantle currently has the highest ETH yield in mETH, and they have $1 billion available to incentivize users
• STARK has many great applications and is worth spending time on for operations or airdrops
• Eclipse may become the cheapest L2, allowing Rust developers to easily launch their applications on the EVM, a project Aylo is particularly keen on