Messari's Surprising Predictions for the Crypto Ecosystem in 2024

Similar to VanEck, Bitwise, and Bitget before it, Messari has recently published a quite comprehensive summary about crypto in 2024. The platform projects what it believes will be the major trends of this ever-evolving market. In 10 major points, Messari covers nearly all segments of the crypto industry. From investment to peer-to-peer infrastructure, including layer-1s, CeFi, DeFi, crypto products, and even personalities to watch in the crypto sector in 2024. As you may understand, Messari’s projections, which span 192 pages, aim for completeness. This article, however, does not aim for such exhaustiveness and will review some of the most relevant points discussed without any concern for completeness.

Messari’s Projections for Crypto Investment in 2024

Regarding trends in crypto investment in 2024, Messari has, of course, paid attention to bitcoin (BTC) among others. Basing its analysis on BTC’s historical performance, the company expects the asset to outperform traditional assets with a potential target of $600,000 in 2024 due to macroeconomic factors.

Messari also commented on the future of Ethereum, which is more uncertain. Although Ethereum is currently the market leader for smart contracts, its position could be challenged by emerging alternatives like Solana. Overall, Messari believes that the future of cryptos is somewhat uncertain. Though the sector is dominated by BTC, ether (ETH) and stablecoins, which together represent 75 % of the crypto market, it’s possible that less well-known projects could become more significant in 2024.

The Top 10 Crypto Projects to Watch in 2024

In the dynamic landscape of cryptos, several major developments stand out. Messari specifically names 10 projects with high potential for distinction in 2024. These include Tether (USDT) on Tron, Coinbase’s Base, Celestia, Firedancer, Farcaster, Grayscale’s GBTC, Chainlink, Lido, Blur, and Project Guardian.

Messari believes that these 10 projects, with their defining potential, represent trends that may have a significant impact on the future of cryptos. Investors should be ready to adapt to this possibility, especially as the crypto ecosystem continues to change, promising more exciting developments in the coming year.

Messari’s 2024 Projections in the DeFi Sector

The crypto segment of decentralized finance (DeFi), which only represents 0.01 % of the global financial assets, has proven resilient amid market hardships, notably after the collapse of Luna and FTX. Despite potential increased regulatory oversight, Messari believes that DeFi’s transparency, instant settlement, and profitability characteristics should sustain its growth. The company suggests that aggregator projects like 0x and 1inch are worth close observation. It anticipates transformative developments in 2024, even amidst a backdrop of declining investments, potentially driven by innovations such as the Lightning Network, emerging protocols for streams, smart payments, and others.

What About Messari’s 2024 Predictions in Terms of Regulation?

On this topic, Messari issues a caveat, acknowledging the political nature of crypto and its controversial aspects related to political maneuvering. The company particularly elucidates the conditions necessary for the success of the American crypto sector, especially in view of the critical 2024 election. Noting that the United States is a key battleground for crypto, Messari asserts that industry leaders must be ready to fight in 2024. The firm emphasizes global regulatory challenges for crypto, stressing the need to defend the free and open internet of finance. Messari also underscores the importance of winning the cultural information war for the long-term success of the crypto ecosystem.

What Can Be Said About Consumer Crypto Trends in 2024?

Regarding consumer cryptos, Messari notes that, despite market turbulences, key investments in DeSoc platforms like OpenSea and Blur are expected to strengthen. The ownership economy appears sustainable. According to Messari, NFTs and public blockchains must track provenance into the uncharted territory of AI-generated content. Highlighting their role in an AI-driven future, the company asserts the significance of protecting digital assets from institutional encroachment. Furthermore, mainstream crypto applications could become crucial infrastructure. Messari considers them critical in capturing upcoming opportunities in this rapidly changing landscape.

The Crypto Personalities to Watch in 2024 According to Messari

Messari sets itself apart on this topic, compared to earlier projections made by VanEck, Bitwise, and Bitget. The company introduces a new list of individuals to watch in the cryptographic space. This, while highlighting the risks associated with such recognition, including legal issues, depositions, and financial crises.

In the past, notable figures have been sentenced to prison or have faced legal allegations, such as Sam Bankman-Fried from FTX, and CZ from Binance. Messari has notably correctly anticipated the challenges of CZ and Brian Armstrong from Coinbase.

Messari’s list of crypto personalities to watch in 2024 includes traditional finance figures such as Larry Fink of BlackRock and Cathie Wood from ARK Invest. It also features political players like Senator Elizabeth Warren and those linked to her. The company also mentions what it calls “DeFi gangs.” It lists crypto entrepreneurs like meow (Jupiter), Lucas (Jito), Mert (Helius), Armani (Backpack/Mad Lads), vibhu (DRiP), Edgar (MarginFi), Cindy (Drift), Bartosz (Cube).

“There are a lot of people from TradFi, RWAs, and politics, and a few crypto natives. This reflects the times we are living in. As crypto seeks to bridge the gap and avoid the political disasters that would result in a closed-source fintech version 2.0, the real battlefields are in the halls of power. 2024 will determine whether we reach the major leagues or are relegated to squabbling over toys at the kids’ table,” Messari concludes on the topic of crypto personalities to follow in 2024.