Binance Research 2024 Report: Major Trends in Blockchain and Cryptocurrency

The latest forecast report from Binance Research reveals the key themes for 2024, as outlined in their prediction report. From the new narrative of Bitcoin to the tokenization of real-world assets, these trends not only showcase the innovative vitality of the market but also indicate future growth potential. However, the report does not mention the development of Ethereum and the L2 ecosystem, which has left the community disappointed.

Bitcoin Narrative Continues to Lead the Way

In 2023, Bitcoin remains a focal point with its diverse narratives and market performance. From the innovation of Ordinals/BRC-20 to the approval of Bitcoin ETFs, and the upcoming halving event in 2024, these dynamics indicate positive changes in the future Bitcoin market. It is worth noting that these new developments not only enhance the functionality of Bitcoin but may also trigger significant market volatility.

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Ownership Economy Further Enhanced with DePin, DeSoc

Blockchain technology is changing users' control over resources, from personal data to creative content. In 2024, Binance Research predicts greater progress in areas such as decentralized Internet of Things infrastructure (DePin) and decentralized social media (DeSoc).

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Increasing Integration of Artificial Intelligence (AI)

With OpenAI's ChatGPT gaining widespread attention in 2023, the fusion of AI and cryptocurrency becomes an important topic. From automated trading to data analysis, the integration of artificial intelligence brings new use cases and solutions to the crypto ecosystem.

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Growth of Tokenizing Real-World Assets (RWA)

Tokenizing real-world assets is a powerful application of blockchain technology. In 2024, we expect tokenized real-world assets to benefit from a higher interest rate environment and witness rapid development in related infrastructure.

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Burgeoning Landscape of On-Chain Liquidity

Liquidity is crucial for decentralized finance (DeFi). As the market continues to grow, we anticipate the expansion of on-chain liquidity and financial activities. Concentrated Liquidity Market Makers (CLMM) and Request for Quote (RFQ) systems are expected to be key areas of focus.

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Rapid Adoption by Institutions

2023 witnessed institutional entry into the cryptocurrency space, and we expect more institutions to participate in 2024. With the upcoming Bitcoin halving event and related positive news, we can anticipate deeper understanding and involvement of institutions in crypto technology.

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Security Remains Crucial

In the crypto industry, security is key to maintaining user trust and unlocking potential. Given past security vulnerabilities, the industry is strengthening defense measures and is expected to continue prioritizing this area in 2024.

Increasing Importance of Account Abstraction

To attract the next generation of users and accelerate blockchain adoption, accessibility and inclusivity are becoming increasingly important. Account abstraction has facilitated the creation of smart contract wallets, improving overall user experience and potentially reducing friction in using Web3 wallets in 2024.

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