How do 60 Taiwanese blockchain industry leaders view the industry trends in 2024?

Authored by: Dynamic Zone

2023 was a fruitful year for the blockchain industry, with the market welcoming multiple boosts such as the Bitcoin spot ETF, halving narrative, Oridinals inscription, and the resurgence of public chains, allowing BTC to continuously reach new highs, approaching $45,000 at one point.

As the market sounded the horn for the return of the bull market, the Taiwanese blockchain industry, with solid technical foundations and a strong community, continued to demonstrate its profound development capabilities and leadership to the world.

Entering its fifth year, the "Taiwan Annual Influence Selection," which has been launched since 2019, has continuously expanded its influence, attracting experts, technical developers, investors, and startups from various fields. This selection not only recognizes outstanding contributors to the Taiwanese blockchain but also serves as an important indicator for promoting industry exchanges, cooperation, and innovation.

This time, Dynamic Zone has expanded its invitation to industry experts, community leaders, and VCs to participate in the nomination and selection, selecting key figures who have made significant contributions in various fields such as Web3 applications, enterprises, NFTs, VCs, policy promotion, and community influence. They have invited these thought leaders to share their key predictions for the 2024 market and observations on Web3 trends with the readers.

Disclaimer: The selection of influential figures by Dynamic Zone every year is based on the achievements, deeds, public influence, and industry influence of the individual in the past year. The following rankings do not have a ranking order. However, due to the unpredictable changes in the cryptocurrency market, Dynamic Zone can only ensure the positive influence of the individuals in the past and present, but does not guarantee the future performance or behavior of the individuals on this list, nor does it constitute investment advice.

Influential Figures in the Industry

Evan Cheng / Co-founder of Sui, CEO of Mysten Labs

 

• The Sui mainnet was launched in early May 2023, and the native token $SUI, when it started trading, surged from $0.1 to $2, currently ranking among the top 100 cryptocurrencies by market value.
• Sui's DeFi ecosystem has accumulated over 20 projects, with a TVL exceeding $200 million.
• Under Evan's leadership, Sui's development company, Mysten Labs, has raised over $330 million to date.

Evan's 2024 Predictions and Observations:

• Due to the Bitcoin ETF, institutional investor interest, and rate cut expectations, the bullish sentiment is expected to continue in 2024.
• The early 2024 market is driven by retail panic and narratives, which will gradually shift focus to value creation.
• Consumer Web3 products and enterprise adoption will drive a sharp increase in developer activity.
• Sui will play a leading role in building complex consumer and commercial Web3 products.

Ge Ru-Jun (Dr. Bao) / Candidate for the 11th Nationalist Party Non-constituency Legislator, Host of "Dr. Bao's Friends Say"

 

• Host of the podcast "Dr. Bao's Friends Say," often engaging in interesting conversations with key figures in the Web3 industry, bringing blockchain and NFT knowledge to the audience through interesting discussions.
• Candidate for the 11th Nationalist Party Non-constituency Legislator, aiming to bring the spirit of Web3 into the Legislative Yuan.

Ge Ru-Jun's 2024 Predictions and Observations

As the Bitcoin craze resurges, the term NFT is gradually forgotten, but digital collectibles are gradually being accepted and expanding in the art world, art galleries, and auction houses. National-level nodes and city-state DAO organizations are emerging, and the AI artificial intelligence wave is resurging on robots. Apple and Meta are beginning to lead the metaverse genesis.

Jamie Lin / Chairman and Partner of AppWorks

• AppWorks Funds manages four venture capital funds totaling $350 million, having nurtured 5 IPO projects, 4 IEOs, and 5 unicorns to date.
• The AppWorks Web3 ecosystem currently has 129 startups and 305 founders. The total revenue of these Web3 companies is $865 million, with a total fundraising of $1 billion and a total valuation of $13.2 billion.

Jamie Lin's 2024 Predictions and Observations

As we expected last year, in 2023, we saw a significant push in various areas such as Layer-2, ZK, cross-chain, account abstraction, and decentralized derivative financial products, with a large number of builders continuing to work on solving major issues and developing new applications for Web3.

Looking ahead to 2024, the listing of the Bitcoin ETF on the US stock market and Ethereum's entry into the Proto-Danksharding scaling era with the Cancun update will be the two major highlights of the first quarter, while the halving of Bitcoin mining rewards will be a significant milestone in the second quarter.

As the ecosystem matures, we believe that more "general public applications" will emerge, allowing people to seamlessly transition to blockchain. Additionally, with a gradually clearer regulatory framework, we also expect large enterprises to have a more positive attitude towards adopting blockchain technology, accelerating the popularization of Web3 through their massive user base.

Xie Ming-Jie / Chairman of ASUS Metaverse, COO of ASUS

• Actively promoted the establishment of ASUS Metaverse Company, demonstrating not only keen insight into the potential of the Web3 and blockchain market but also a firm commitment to leading the company into the culture of the younger generation. This initiative not only takes ASUS into the emerging technology field but also opens the door to the future digital economy for the company.

Xie Ming-Jie's 2024 Predictions and Observations

2024 will witness the integration of AI and Web 3.0, which will profoundly change the experience of content creation, metaverse, and digital application services. The integration of virtual and real and user-friendly operations will make Web3 an indispensable part of our lives. We look forward to this era bringing a more intelligent and intuitive digital experience, allowing us to freely navigate between the virtual and real worlds.

Xiao Hui-Zong Winston / Convenor of the Taiwan VASP Association Preparatory Committee

• Committed to promoting the establishment of the "Republic of China Virtual Currency Business Association" in 2023, which has already submitted an application to the Ministry of the Interior in December and is expected to be formally established in 2024.
• Co-founded the Unitas Foundation in 2022 and served as a director, developing a decentralized unit currency protocol, dedicated to accelerating foreign investment and cross-border payments outside of developing countries.

Winston's 2024 Predictions and Observations

2024 marks an important watershed for the cryptocurrency industry. As regulations gradually take shape, the cryptocurrency industry will truly be divided into two tracks: "centralized" and "decentralized." The former must be compliant, while the latter will receive additional resources, practicing more disruptive and larger-scale innovation.

As regulations mature, I expect a large amount of resources to begin flowing into decentralized development. These two tracks will form a healthier allocation of resources, ultimately achieving mutual balance, pushing and balancing each other.

Looking back, in an environment with little or no regulation, "regulatory arbitrage" was the main industry dividend, and such benefits automatically attracted resources. Despite the fact that operators and investors are in a fundamentally decentralized industry, they naturally gravitate towards centralization for profit, and some even excessively wield power to gain undeserved benefits. This has led to the development of products and services that, while still retaining some decentralized elements, operate in a more centralized manner.

Centralized services have dominated the majority of resources in the era of rampant growth, which has also slowed down the progress of infrastructure development in the decentralized field. To this day, there is still a lack of substantial large-scale applications. The global regulatory environment is gradually maturing, and only compliant operators can continue to advance in the centralized track and gain access to the arena.

However, the fundamental nature of blockchain technology is decentralization, and this technology will not disappear or slow down due to regulation; instead, it will accelerate the development of decentralized infrastructure in response to regulation. The decentralized track will inevitably develop faster as the force of regulation increases.

Bitcoin has been around for 15 years, and I once predicted that 2023 would be the "self-regulatory year" for exchanges. I am honored to have served as the convener of the preparatory committee for the Taiwan VASP Association since September. Taiwan's regulation has progressed from anti-money laundering to the Financial Supervisory Commission's guiding principles and now to the establishment of the association. The next step is to formulate and implement self-regulatory norms after the formal establishment of the association, to facilitate future legislation or reference to existing regulations in Taiwan.

Furthermore, in 2023, XREX became the first virtual asset operator in Taiwan to successfully obtain a provisional approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). These developments indicate that as blockchain technology begins to "change human behavior," the law must begin to "restrict human behavior" in order to maintain the steady progress of society. Under a clear and reasonable framework, it can maintain the innovative energy of new technology while safeguarding the rights of the majority without losing momentum or control.

Looking back at human history, when a new technology that can change the economic and social operating model emerges, the impact and changes it brings are enormous, even earth-shattering. The internet is the best example of this in modern times. It has not only changed the way humans access information but has completely transformed human behavior, social operating models, shopping, socializing, communication, and even industrial operations, all because of this technology.

Blockchain technology will be no exception. It changes the way people reach consensus and transfer value, but from finance, data storage to the transfer of power, it will bring unimaginable changes to us.

As regulation and compliance become an irreversible trend, operators who want to enter the centralized track competition must obtain tickets, and there is no longer any room for ambiguity for operators who want to develop in the decentralized world. They must truly invest resources and effort, and 2024 is the watershed for this. The era of anyone rushing into the jungle and conducting guerrilla warfare in an unregulated environment has ended.

Now, as governments around the world begin to implement regulations of varying degrees and levels and issue licenses, operators must obtain tickets to enter these arenas. Participants may include traditional financial institutions, startup teams, emerging technology companies, and various businesses and commercial scopes. Everyone must charge forward within certain boundaries and conditions to open up their own avenues of development.

Operators who are unwilling to participate in this ticket-based qualification race and adhere to the norms of the arena must fully move towards the decentralized world. Both centralization and decentralization no longer accept the so-called "half-hearted" approach, and the blurred space is gradually disappearing. In 2024, everyone must make clear choices and statements at this watershed moment.

Jiang Yongchang / New Taipei City Legislator, Promoter of the Virtual Asset Management Regulations Bill

• Initiator of the specialized law "Virtual Asset Management Regulations Bill"
• Promoted the bill to be sent to the Legislative Yuan for first reading and approval

Jiang Yongchang's 2024 Predictions and Observations

• Next year, the regulatory framework for the blockchain industry will be of utmost importance. Considering the innovation in this industry and the various controversies involved, some argue that investor protection is the most important. This is linked to measures related to anti-money laundering, fraud, and crime prevention, as well as the clear definition of compliance with the law. These all involve the prompt and appropriate establishment of a regulatory framework.
• The association was established at the end of 2023, and the Financial Supervisory Commission has publicly stated that it will observe the overall industry situation after the establishment of the association before deciding on the next regulatory actions. However, the recent applications of virtual assets in finance and the overall expansion of the virtual asset market leave the Financial Supervisory Commission with no choice but to discuss the framework of specialized laws for virtual assets. Overall, in 2024, the projects that the virtual asset industry can engage in will increase, and the market will develop more vigorously.

Simon Dai / Deputy General Manager of the Digital Financial Business Group, Far Eastern International Bank

• Launched the "2023 Virtual Asset Survey," revealing the understanding, investment preferences, profit levels, information sources, and attitudes towards regulatory compliance of various generations in Taiwan regarding virtual assets.
• Promoted collaboration between banks and virtual asset exchanges, advancing together in the four directions of "detection, notification, control, and improvement" to reduce the occurrence of money laundering and fraud and effectively control them.

Simon Dai's 2024 Predictions and Observations:

1. Top blockchain talents leading Taiwan's international foray

Looking back at 2023, the Taiwan VASP Association has been actively preparing, and it is hoped that in 2024, the association will begin to operate concretely. Through the collective cooperation of operators, it is expected that the Taiwanese blockchain industry will advance towards a healthier and more positive direction.

Taiwan has the most top-notch blockchain professionals. It is hoped that after more comprehensive horizontal integration in 2024, the formation of the national dream team in blockchain will be seen, making a major international foray and providing a place for more blockchain-related applications from Taiwan, rather than just being an exclusive stage for overseas companies. Therefore, in 2024, it is hoped that the national dream team will step onto the international stage, enter the Blockchain World Cup, and let the world see more shining unicorns from Taiwan.

2. Convergence of traditional finance and the cryptocurrency industry to create a safer and more convenient trading environment

After the release of the "2023 Virtual Asset Survey," Far Eastern Bankee discovered that "security" and "convenience" are the most important aspects for users. In 2024, it will gather the thoughts and insights of VASP operators, professional institutions, and customers to further release the "2024 Industry Survey Report." It is believed that joint efforts in the three stages of compliance, trust, and popularization will promote the vigorous development of the blockchain industry ecosystem and open the "New Year" for the Taiwanese blockchain industry.

3. Banks leveraging their strengths to build a more robust joint defense mechanism and reduce the occurrence of money laundering and fraud

In 2023, Far Eastern Bankee proposed the "detection, notification, control, and improvement" joint defense mechanism, horizontally linking exchange operators, detecting abnormal transactions, and promptly reporting them. Through effective account control procedures, it aims to prevent money laundering and fraud cases and eliminate illegal transactions. Through continuous optimization and improvement using big data analysis, it hopes that more operators will participate in the joint defense mechanism in 2024, implement it, and create a safe and convenient trading environment for users.

4. Welcoming Taiwan's "New Year" for blockchain, perfecting the cryptocurrency industry ecosystem. Compliance brings trust, and trust leads to popularization!

At the end of 2023, the guiding principles for VASPs were released in Taiwan, providing virtual asset platform operators with a clearer direction to follow. It is believed that under compliance, trust can be established, which can then strengthen the willingness of the public to invest, allowing blockchain applications to enter the lives of more people and truly achieve widespread adoption.

• MaiCoin is the longest-standing digital asset trading group in Taiwan, with brands including the MaiCoin digital asset trading platform, MAX digital asset exchange, AMIS blockchain technology, and Qubic NFT technology integration services.
• This year, it launched the cryptocurrency payment service "MaiPay," allowing users to trade using tokens such as BTC, ETH, USDT, USDC, and MAX, thereby expanding the application scenarios for cryptocurrency payments.

Alex Liu's 2024 Predictions and Observations

2024 will mark the Bitcoin halving. Looking back at the three previous bull and bear cycles, they have all been related to the timing of Bitcoin halving. In addition, in 2023, several U.S. financial institutions applied to the SEC for a Bitcoin spot ETF, leading to a market that began to stir in the fourth quarter of 2023. Apart from the anticipated price fluctuations, the applications for a Bitcoin spot ETF also indicate a certain level of recognition of the virtual currency industry by traditional financial institutions. These events are signs of the mainstreaming of virtual currencies, and it is believed that 2024 will be a lively and positive year.

In 2023, various countries initiated regulatory ferment. Hong Kong, Singapore, and Japan each released relevant regulatory laws, and the U.S. SEC conducted a sweep of virtual currency-related operators. Taiwan's virtual currency industry also experienced the release of guiding principles, the establishment of an association, and the first reading approval of the virtual currency specialized law. While it may seem like a wave of heavy blows and limitations for the industry, in the long run, I believe it is a prelude to the coexistence of virtual currencies and the system. It is also expected that the industry will become healthier, and more people will be willing to join this market.

Furthermore, we have seen traditional financial institutions beginning to enter the fray through green energy STOs, Bitcoin spot ETFs, and cryptocurrency payments. Based on the characteristics of blockchain technology, decentralization, and real-time cross-border transactions of virtual currencies, I believe that this year will see more institutions innovating services, creating liquidity, and reducing operating costs through "tokenization." In the near future, we should expect to see more discussions and successful cases of real-world assets (RWA), supply chain finance, carbon credit trading, stablecoins, etc. This will also be an opportunity for Taiwan to become one of the many nodes, and I believe that blockchain technology and virtual currencies have the potential to become the next important industry in Taiwan.

Matt Cheng / Founder of Heart Capital

2024 Predictions and Observations

One of the biggest lessons from the unpredictable 2023 is not to try to predict the market.

However, what we can do is to identify possible market signals and speculate on the possible directions of development in 2024 based on existing signs. Here are three aspects that I believe are worth paying attention to:

1. Integration of AI and blockchain technology: AI and blockchain have been the most exciting technological innovations in the tech industry in recent years, and generative AI once again demonstrated the power of this technology in 2023. Many believe that integrating AI with blockchain technology will contribute to the development of the blockchain industry. For example, using AI to enhance blockchain security and combining blockchain data with AI analysis to enhance the analytical and insight capabilities of enterprises or organizations. I believe that in 2024, we can expect to see more practical cases related to this integration.

2. Approval of Bitcoin spot ETF: With an increasing number of large institutions, including Blackrock, Wisdom Tree, Invesco, and Franklin Templeton, submitting ETF applications to the SEC, I believe the likelihood of the approval of a Bitcoin spot ETF in 2024 has also increased. If approved, we can expect a significant increase in visibility of Bitcoin among traditional investors and retail investors, with the potential for it to "go mainstream." In addition to boosting prices, it could also, to some extent, dispel certain negative stereotypes that have been associated with Bitcoin in the past. However, balancing this with the concept of decentralization will be another challenge.

3. Accelerated adoption of tokenized payments by U.S. banks: As cryptocurrencies begin to interact with traditional financial markets, we also have the opportunity to see more sparks in 2024. In 2023, the leading payment giant PayPal took the lead in launching tokenized payments, followed by JPMorgan Chase joining the fray. It is expected that in 2024, we will see more U.S. banks launching related services, accelerating their development in the cryptocurrency field.

Po Chen / Co-Founder of TonX Studio

2024 Predictions and Observations

The concept of Taproot for Bitcoin has become a reality in 2023, and we are pleased to see the emergence of BRC 20, as well as the increasing attention, investment, and development of projects such as RGB and the Lightning Network team. Soon, we can expect to see major asset issuances on Bitcoin's L1, and in 2024, we will witness many applications on Bitcoin Layer2.

I am still very curious about Bitcoin, a silent giant. 2024 may be the year of its awakening.

Telegram is the world's second-largest messaging app, and TON is the fastest blockchain in the world. In 2023, it completed testing at 100,000 TPS and triggered sharding on the mainnet, processing tens of millions of transactions. At Token 2049, the relationship between Telegram and TON was announced, and soon we can expect Telegram, with its 1.4 billion users, to come preloaded with the built-in TON Wallet.

Telegram will not only be a messaging app but also a payment platform and an entry point to Web3. In the future, Telegram will introduce the Telegram Mini App Store, a lifestyle app store designed to handle billions of users. It is committed to building a highly stable and fast TON API - TonFura, and is writing SDK development tools in multiple languages to prepare for future growth.

Jason Fang / Founder of Sora Ventures

• Sora Ventures manages two funds with a portfolio of over 80 companies.
• Hosted the Sora Summit 2023 "Bitcoin Ecosystem" summit, with heavyweight guests including Brian Armstrong, CEO of Coinbase, Casey Rodarmor, developer of Ordinals protocol, and Domo, creator of BRC20.

Jason's 2024 Predictions and Observations

Recent analysis of the Bitcoin market indicates that in the current macroeconomic environment, the application ecosystem of Bitcoin has enormous potential in the next bull market. Especially in the Ordinals market, although the trading volume in this area has recently increased, its overall scale is still relatively small.

I believe that the development of the Ordinals protocol is crucial in increasing the value of Bitcoin, and this is the driving force behind Bitcoin's value surpassing previous highs.

In addition, Bitcoin's next phase will introduce utility tokens to the network, bringing unprecedented scenarios to the industry. In the history of Web3, the dominant narrative of each bull market has never been repeated, so I believe that the next bull market will be reflected in the utility of Bitcoin.

Andrea Chang / Partner at Oak Grove Ventures, Research Partner at NGC Ventures

Andrea's 2024 Predictions and Observations

1. Bitcoin Ecosystem

By 2024, I expect significant expansion of Bitcoin's native DeFi capabilities, surpassing the limitations of ERC-20. The development of Bitcoin Layer2 and Bitcoin's native development will play a pivotal role. For Bitcoin Ordinals, as more builders enter this field, we may see the community expand to other protocols beyond the BRC20 standard (such as the Tap protocol).

2. Decentralized AI Infrastructure: Integration of Blockchain and AI

This includes the use of zero-knowledge machine learning (zkML) protocols to provide privacy-preserving AI solutions. Decentralized storage and enhanced data availability mechanisms will further support these infrastructures. These advancements can promote more secure, efficient, and scalable AI operations on blockchain networks.

3. Consumer Dapp Growth: Driven by the Asian Market

2024 will mark a significant shift in the dApp landscape, driven by the adoption in the Asian market, particularly in the areas of casual gaming and social interaction. The Asian market, known for rapid adoption of technological innovations, will be at the forefront of this transformation, setting new standards for dApp usability and functionality. Infrastructure that supports mass adoption and better user experience (such as account abstraction) will have more use cases.

4. Modularized Specific Application Blockchains

In my research, as industries become more application-centric, we can expect to see more super apps empowered to have their own chains with the help of modularized infrastructure.

Titan Cheng / Founder and CEO of BitoPro Group

BitoPro launched the first "mobile sensing" NFC card cold wallet at the end of 2023, with military-grade security specifications for offline storage of private keys. It also collaborated with FamilyMart to allow members to convert points into Bitcoin (BTC), Ethereum (ETH), USDT, and more. The development of the original patent TT Check gift card has diversified the application of virtual currencies.

Titan's 2024 Predictions and Observations

1. Regulatory Implementation, Traditional Financial Institutions Embracing Digital Currencies

The establishment of the VASP Association in 2024 will be a significant milestone for the Taiwanese cryptocurrency industry. Once regulations are in place, it can be expected that the integration of traditional financial institutions and the development of digital currencies will become more "integrated." With increased public acceptance on a legal and compliant basis, more diverse application scenarios will enter people's lives. We look forward to the sparks of "rigor" in traditional finance and "innovation" in digital currencies!

2. Digital Currency Payments Will Have More Use Cases

According to statista, digital currency payments are expected to grow at a compound annual growth rate of nearly 17% between 2022 and 2029, with an expected transaction volume of up to $41.2 billion. We are optimistic about this emerging payment method, and traditional financial payment systems will gradually integrate digital currency payment services. The advantages of digital currency payments include:

• Instantaneous: Consumers can make payments anytime, anywhere, without geographical restrictions, and receive immediate confirmation.
• Transparency: Transaction records are publicly available and transparent on the blockchain, and cannot be tampered with.
• Low fees: Transaction fees for merchants and consumers may be much lower than those of traditional payment systems. PayPal charges nearly 4% per transaction or more, but some Bitcoin transaction fees are less than 1%.

1. Tokenization of Real Assets:

Tokenization of real assets is a key to the popularization of blockchain, allowing ownership of valuable assets in the real world, such as carbon credits, to be traded on the blockchain.

Audrey Yang / Orderly Network CGO, Founder of Radiance Ventures

Orderly Network provides comprehensive dApp tools for Web3 teams and liquidity needed for rapid deployment of complex full-chain transaction applications, with a cumulative transaction volume exceeding $500 million. Radiance Ventures is a blockchain investment fund dedicated to accelerating blockchain progress, reshaping digital asset interactivity, and stimulating the growth of the entire Web3 field.

Audrey's 2024 Predictions and Observations

Bitcoin ecosystem revival, Bitcoin ETH, and Defi summer 2.0:

In 2023, the Bitcoin ecosystem reshaped the nature of Bitcoin transactions through asset issuance protocols such as BRC-20, transforming a single Satoshi into a unique digital asset. The emergence of tBTC, a product of Bitcoin's integration with Ethereum and Solana blockchains, has driven the interaction between Bitcoin and DeFi applications.

According to Galaxy's research in October this year, institutional funds currently hold 842k BTC (~$22B), while the potential market for wealth management assets of broker-dealers, banks, and others is $48.3 trillion. From the beginning of the year to the November cutoff, Bitcoin exchange-traded product (ETP) inflows amounted to $1.5B. It can be imagined that with the approval of Bitcoin ETF, only 0.003% of the potential market is needed to double the annual inflow of funds into BTC.

Given these significant developments and the momentum accumulated over the past year, the foundation has been laid for the potential explosive growth trajectory in 2024.

Moving towards the financialization of social experiences

Since Defi Summer, Web3.0 has been highly overlapped with financial attributes, and the difficulty of most Defi products and low stickiness have limited the expansion of the incremental market.

Observations and Predictions for 2024:

Observing the current industry ecosystem, many social projects are seeking opportunities to collaborate with traditional industries. For example, in the NFT space, Pudgy Penguins has successfully integrated NFTs into plush toys and placed them in 2,000 Walmart stores, demonstrating a successful case of virtual and physical integration.

The trading track continues to nurture projects that combine social attributes. For example, Dream Come True (DCT) is a platform that adds AI smart assistant tools to community trading and is set to launch in the first quarter of next year.

There is also a presence of companies from the Web2.0 sector and well-known IPs entering the race. For example, the NFT project Moonbox has officially obtained exclusive authorization to create NFTs for three film and television works of the talented director Stephen Chow. The entertainment industry has become an indispensable part of the development path of Web 3.0 social, with well-known North American concert organizer Pulse Events exploring the possibility of integrating physical concerts with Web3.0 in collaboration with Radiance Ventures. Previously, Pulse Events had collaborated with Korean artists such as BIGBANG and EXO for large-scale tours. Cross-industry collaborations in the entertainment industry are expected to break new ground in the existing Web3.0 market.

In the upcoming year, in addition to the stable investment in the GameFi ecosystem, we can expect to see various web3.0 experiments in different areas of life. The commercial design of points and loyalty in the NFT and tokenization system may bring new financial attributes to the existing social domain.

Wayne Huang / Co-founder and CEO of XREX

In 2023, XREX became the first company in Taiwan to obtain the principle approval of the "Major Payments Institution" (MPI) license in Singapore, overcoming a significant barrier in cross-border encrypted payments. Wayne predicts that in 2024, stablecoins and central bank digital currency (CBDC) technologies will see expanded applications in cross-border payments and settlements. He anticipates the involvement of not only large traditional financial institutions and international payment operators such as JPMorgan, VISA, Mastercard, and PayPal, but also national sovereignty and government agencies. With rapid changes in regional politics, the rapid development of the global south and emerging markets, and the rise of the Middle East as a financial hub, there is a growing demand for alternatives to the SWIFT system in cross-border payments and settlements. Blockchain technology is expected to be the best solution for this financial pain point. Wayne also emphasizes the importance of stablecoins in providing stability and financial security for people in developing countries.

JOSH / APAC Business Operations Director at BINGX

JOSH predicts that 2024 will usher in another crypto bull market, driven by the influx of hot money from the macro market into the crypto market, leading to further acceleration of the overall ecosystem. He emphasizes the need for sustainable development in the Bitcoin ecosystem and advises investors to discern between speculation and investment. He also suggests that the focus in 2024 will return to the public's view, and projects with easily understandable high-level competition, such as decentralized infrastructure, will capture the attention of new investors.

Pinta Chen / Marketing Director at BlockTempo

• Pinta Chen / Marketing Director at BlockTempo

  • Served as the Marketing Director of BlockTempo, managing its community platforms and promoting it as the largest Chinese blockchain media globally.
  • Hosted several industry-defining events in 2023, including the "TON Hackathon" in Taipei, the first "Bitcoin PizzaDay" basketball tournament in the Chinese community, the launch of the "Taiwan Blockchain Industry Map," co-hosted the second NFT Taipei, and organized the largest industry exchange event "Infinity Block Night."

  Observations and Predictions for 2024: Predicts unprecedented potential in 2024 as blockchain technology and AI continue to integrate into the Web3 ecosystem, with new narratives emerging in the market. Foresees significant developments in gaming, social, financial, and entertainment sectors, with Web3-enabled games and AI becoming key attractions for investments from Web2 institutions. Anticipates AI to significantly enhance the gaming user experience and drive the possibility of a new bull market cycle in the crypto market through tokenization of games.

• 蔡玉玲 / Chairperson of the Taiwan FinTech Association

  Observations and Predictions for 2024: Foresees a trend of increased participation from non-blockchain and blockchain-related businesses in cryptocurrency regulation, posing both competitive challenges and collaboration opportunities for existing blockchain businesses. Anticipates the establishment of the VASP Association in Taiwan, serving as a direct communication channel between the public sector and businesses, and a crucial mechanism for government regulation. Expects the innovative regulatory model for VASPs in Taiwan to be successfully established in 2024, balancing industry innovation and risk control. Aims for Taiwan's collaborative regulatory model to become an international standard for supervising new technologies.

• Paul Fan / Co-founder and CEO of CYBAVO

  Observations and Predictions for 2024: Foresees 2024 as a crucial year for stablecoin regulation. Expects Asia's vibrant fintech ecosystem to accelerate the adoption of digital payments, fostering competition, innovation, and synergies. Awaits the establishment of clearer regulatory frameworks for cryptocurrency-related services by global regulatory bodies, expressing optimism for the future of crypto assets in Asia.

• 吕季洁 Justine Lu / Co-founder of Lootex and Chairperson of the Taiwan NFT Association

  Observations and Predictions for 2024: Acknowledges the challenge of predicting the future and emphasizes the importance of respecting meme culture and expanding community participation in Web3 entrepreneurship. Emphasizes the need to uphold openness and sharing in product design, marketing communication, and community management.

• 吴柏苍 Pochang Wu / Co-founder of OurSong

  Observations and Predictions for 2024: Foresees increased funding and the emergence of applications on L2, intensifying competition between protocols and creating new opportunities for privacy and addressing specific needs in L3. Expects significant progress in user experience, wallets, and private key management, while acknowledging the ongoing challenges related to smart contract vulnerabilities and asset security.

• 吴哲宇 / Founder of Ink Studio

  Observations and Predictions for 2024: Foresees blockchain technology continuing to play a crucial role in art creation and expression, becoming the core of new-age art media and fundamentally changing the interaction between artists and audiences. Predicts a deeper level of connectivity, multi-directional participation, and the construction of digital ecosystems in the art world.

In the field of digital art, the application of blockchain technology endows artworks with eternal life in the digital world. This not only means the permanent preservation of the works but also serves as a guarantee of the continuous evolution of their content and value over time.

In particular, in generative art, the on-chain encoding of code gives artworks the ability to express emotions and lifelike characteristics. This innovative application of technology opens up a new realm for art, transforming static displays into dynamic entities with vitality.

Blockchain technology itself has become a unique form of artistic expression. From tokenomics to the integration of art NFTs and decentralized autonomous organizations (DAOs), these concepts transcend their original technological or economic aspects and become part of artistic creation.

This interdisciplinary integration not only enriches the interconnected social aspects of culture, art, economy, and politics but also transforms value and meaning into digital symbols. Through the medium of blockchain, it enables global, barrier-free, instant, and free value exchange, which traditional media cannot achieve, inevitably leading to a transformation in the rules of human culture and art.

I predict that in 2024, with the further maturity and popularization of blockchain technology, we will continue to witness the birth of exemplary integration of art and technology, ushering in a new wave of creators and movements that master technology and art, bringing revolutionary changes.

Chen Mei-ling / Convenor of the Taiwan Blockchain Alliance

• Collaborated with the Taiwan Blockchain University Alliance to establish a talent and technical training system for blockchain development, promoting the implementation of blockchain capabilities in Taiwan. Focused on five categories of advancement: regulatory adjustment, application promotion, industry-academia collaboration, international development, and public relations.
• Facilitated the National Development Council's plans for the "Taiwan Blockchain as a Service (BaaS)" and "T-Road (cross-agency data transmission service)."
• Advocated for reduced carbon emissions regulations and assisted companies in using blockchain for carbon footprint assessments.

Observations and Predictions for 2024: Reflects on the "new normal" and "new order" in the blockchain and cryptocurrency industry, emphasizing the need for self-understanding of legal compliance and regulation. Anticipates the development of the internet and blockchain industry in Taiwan, aiming for it to become a guardian of the country's mountains.

Michael Ou / Founder and CEO of CoolBitX

• Sold over 500,000 sets of CoolWallet globally, making it one of the largest cold wallet brands worldwide.
• Secured a Series B funding of NT$500 million, led by Japanese financial giant SBI Group, with investments from the National Development Fund, South Korean cryptocurrency exchange BitSonic, and Japanese Monex Financial Group.

Observations and Predictions for 2024: Highlights the opportunity for Taiwan to learn from the success of other countries in the development of the Web3 industry, emphasizing the need for an open and innovation-friendly environment. Emphasizes Taiwan's leading position in hardware manufacturing and technological innovation as an advantage for the development of Web3 and blockchain technology. Advocates for the development of hardware and solutions related to blockchain technology, investment in education and training, and the establishment of a clear and inclusive legal framework to promote healthy development of cryptocurrency and blockchain technology.

Nicholas Yang / Former Head of the Web3 Team at Cathay Financial Holdings

• Established the first digital asset department in the Taiwanese financial industry, planning, developing, and executing security token offering (STO) business, and collaborating on stablecoin transfer experiments with the HBAR Foundation, Shinhan Bank in Korea, Tech X in Thailand, and Standard Bank in South Africa.
• Organized the property insurance alliance chain, involving 14 property insurance peers in Taiwan to exchange claims data on the chain, approved by the Financial Supervisory Commission as the official claims operation process.

Observations and Predictions for 2024: Foresees the blossoming of more business models combining digital assets, with international financial institutions quietly investing resources to develop related businesses. Emphasizes the potential for AI infrastructure development to cleverly assist the evolution of the Web3 industry in conjunction with blockchain technology.

Chang-Wu Chen / Chief Scientist at imToken

• Responsible for Tokenlon DEX business and leads the imToken Labs team in technical research and development. Since its establishment, imToken has helped over 10 million users enter the blockchain and benefit from blockchain payment applications.
• Chen Chang-Wu is the first researcher from Taiwan's Ethereum Foundation and the only team from Taiwan to win in the finals of the ETHTokyo hackathon in 2023.

Chen Chang-Wu's 2024 Predictions and Observations: Over the past year, with the rapid development of abstract account wallets, there will be more wallets based on the concept of user experience. Technologically, there will be more discussions on modularization of abstract account modules and native abstract accounts. It is expected that the StarkNet ecosystem will grow in 2024, and progress can be seen in zkEVM, as well as continued exploration of MEV in privacy payment-related applications, impacting Bridge/DEX/Intent-centric protocol design.

Yenwen Feng / Co-founder of Perpetual Protocol

• Perpetual Protocol is one of the largest DeFi derivative service protocols globally. Its V2 version has been released on the Ethereum Layer 2 solution Optimism, providing a faster and cheaper DeFi experience. It has facilitated over $70 billion in on-chain trading volume since its launch.
• Received investments from several top-tier DeFi capital institutions, including Multicoin Capital, Three Arrows Capital, CMS Holding, and Alameda Research.

Yenwen Feng's 2024 Predictions and Observations:

1. Due to the gradual maturity of Rollup and parallel processing technologies, the barrier to entry for blockchain development will be lowered. In 2024, more applications are expected to use their own App Chain or more cross-chain functionality to create richer services.
2. The system design of DeFi has entered a mature stage, and the focus of future competition will be on improving user experience to attract non-professional retail users.
3. If interest rates decrease as expected in 2024, the influx of funds into the cryptocurrency market will bring a new wave of blockchain investors, potentially leading to a larger bull market than before, with more absurd investment stories likely to occur.

Taka / Chairman of the Taiwan Blockchain Enthusiasts Association

• Co-organized Taipei Blockchain Week 2023, the Funding the Commons international public wealth forum, and co-hosted the Solana Hacker House 2023, among other international events. Advocates for Quadratic Voting and emphasizes the importance of privacy computing and zero-knowledge proofs.
• Since 2020, has been operating the N24 Taipei Ark, a blockchain startup incubator under the Taipei City Industrial Development Bureau, serving as an important demonstration and validation site for digital technology in Asia. Organized the first Web3 Youth Reserve Cadre Internship Program and the first ZK BuidlArk Hackathon this year.

Taka's 2024 Predictions and Observations: Expecting more Web2 fintech and marketing tech startups to integrate blockchain, Web3, and NFT technologies, leveraging the existing Web2 magnetism. Anticipates the entry of Web2 tech giants or corporate venture capital (CVC) into the Web3 application field through investment, mergers and acquisitions, or technology transfer, to strategically assist in business innovation. Foresees more public chain projects or international exchanges establishing Web3 ecosystem funds in Taiwan, providing more developer tools and rewarding infrastructure service construction.

Albert Lai / Founder of BitTaiwan

• As one of the earliest miners in Taiwan, entered the mainland mining market in 2017 and became the only authorized repairer for Bitmain in Taiwan.
• Founder of BitTaiwan, managing three mining farms with nearly a thousand mining machines. President of the Chinese Cryptocurrency Industry Association.

Albert Lai's 2024 Predictions and Observations: Foresees 2024 as a year of both opportunities and risks, with the Bitcoin halving in April and the delivery of new machines to large miners in January leading to increased market competition. Anticipates a period of intense competition in the market due to the end of the inflation cycle and a brief period of interest rate cuts.

Leo Peng / Chairman of the Taiwan Blockchain University Alliance

• The University Alliance currently has 30 official member clubs/labs/research centers from universities across Taiwan, focusing on connecting industry, research and education, career development, and international exchange. Leads tens of thousands of students and professionals to understand blockchain and its applications each year, promoting blockchain education and anti-fraud efforts.
• The University Alliance is renowned for its famous focus reading clubs, including the Blockchain Financial Legal Reading Club, Smart Contract Practical Reading Club, and On-chain Data Research Reading Club. Became a member of the United Nations UNFCCC and its YOUNGGO in 2022, contributing to the promotion of climate action topics.

Leo Peng's 2024 Predictions and Observations: The continued entry of traditional finance and the deepening of global regulatory compliance will be an important factor in 2024, with the potential to affect market trends during the so-called halving year. From VASP and existing projects to various innovative initiatives, it is necessary to consider the cost and consequences of pushing Web3 out of its circle. Both seasoned investors and newcomers must keep these factors in mind and continue to learn and improve themselves.

• From the silver coin of the 2017 ICO boom to CREAM in DeFi Summer, Huang Li-Cheng has always been at the forefront.
• A whale in the NFT market, holding as many as hundreds of BAYC at one point, consistently dominating the Blur exchange's points reward leaderboard.

Chris Chang's 2024 Predictions and Observations: ETH TO $15,000

Chris Chang / mr. Block - Founder

• "mrblock" is one of the earliest and well-known self-media representatives promoting blockchain and DeFi themes in Taiwan.
• Invested in and participated in multiple projects in 2023, including Puffer (LSD), Prisma (LSDfi), Zetachain, Berachain, Flooring, Highstreet, Zeeverse, and Ethena stablecoin, among others. A promoter of Curve.Fi, managing the largest Chinese community for Curve.

Chris's 2024 Predictions and Observations:

1. U.S. Economic Recession and Bitcoin ETF Launch: It is expected that the U.S. will enter an economic recession in the first half of 2024. However, this period may also see the first launch of a physical Bitcoin ETF, potentially bringing in over several billion dollars of investment to the Bitcoin market in the first quarter.
2. Bitcoin Price Increase: With the launch of a physical Bitcoin ETF and its attractiveness as a "hard currency" alternative, the price of Bitcoin may reach a new all-time high in the fourth quarter of 2024.
3. Change in CEX Market Dominance, DEX Takeover: It is expected that Binance may lose its leading position in spot trading, and the market value of stablecoins (such as USDC and USDT) may reach record highs. Decentralized exchanges also have the opportunity to gain more market share in spot trading.
4. Global Economic Factors: The long-term trend of de-dollarization and the role of cryptocurrencies in this transformation will be a focus of discussion in 2024. Bitcoin and other digital value storage tools may play an increasingly important role in the transformation of the global financial system.
5. Development of Layer 1 and Layer 2 Blockchains: Ethereum is expected to continue to maintain its dominant position in smart contract platforms. The growth of second-layer scaling solutions such as OP Stack, Polygon CDK, and Arbitrum Orbit will accelerate, making blockchain solutions more customized and potentially leading to an increase in departmental or functional differentiation in chains.

Bonnie / Founder of Bonnie Blockchain

• Popular Chinese blockchain YouTuber, with a total channel views exceeding 7.3 million.
• In 2023, the channel innovatively launched a blockchain program called "Coin Circle Battle," imagining it as a cryptocurrency version of a millionaire quiz competition. This program combines my media expertise and passion for the topic, entertaining and educating more people about the cryptocurrency industry.

Bonnie's 2024 Predictions and Observations:

1. Focus on Traditional Finance: The industry is currently focused on the layout of traditional financial institutions in the cryptocurrency market. The progress of the U.S. Bitcoin and Ethereum spot ETFs, combined with the narrative of the Bitcoin halving and the Federal Reserve's decisions, will determine the strength of the next bull market. While the market has accumulated a lot of positive news, caution and optimism are still necessary for the potential of the 2024 market.
2. Regulatory Compliance: Security and regulatory compliance in various countries will definitely be a focus in 2024, not only to strengthen trust in the industry but also because of the increasing demand for cryptocurrencies from institutions, which requires close cooperation with regulators. The expected direction will be clearer, helping the industry to continue to progress.
3. Bitcoin Ecosystem Explosion: The consensus on the Bitcoin chain is very strong, and the rise of Bitcoin inscriptions not only brings wealth effects but also sparks interest in the basic infrastructure and application innovation of Bitcoin.
4. Tokenization of Real-World Assets (RWA): We may see more tokenization of real-world assets, including real estate, securities, intellectual property, carbon credits, and stablecoins, offering more interesting opportunities for investors. If the expected bull market occurs, the market will see more interesting and innovative developments, including GameFi, SocialFi, and Layer 2, among others.

JZ / Founder of JZ Invest, Operator of Notcoin's Largest Asian Guild, JZ Invest Sharing and Exchange Group

Focuses on sharing investment research content for the primary and secondary blockchain markets, as well as alpha trading opportunities. Strives to contribute to the blockchain industry and influence the market towards healthy development.

JZ's 2024 Predictions and Observations: The approval of BTC ETFs will force traditional financial investors in the U.S. to allocate a small amount of funds to BTC. As BTC rises, more traditional financial investors will experience FOMO, further boosting BTC and cryptocurrency prices. It is expected that the price of BTC will reach at least $100,000 by the end of 2024 and kick off a raging bull market in 2025.

In the overall economic sector, risk asset markets will rise all the way, then plummet due to black swan events such as wars, corporate or even national bankruptcies, but will rise again due to loose monetary policies by global governments. Throughout this process, people will gradually lose trust in centralized governments, and the concept of blockchain will become more widespread, with increasing consensus on cryptocurrencies.

Tiffany Lai / TBW Conference Director, Founding Member of Bu Zhi DAO

• Growth Manager for NFTs, Enterprises, and Asia at Ava Labs, responsible for leading global marketing strategies and execution in various verticals.
• Conference director for Taipei Blockchain Week, dedicated to bringing together the local and international community to highlight Taiwan's potential as a cryptocurrency center in Asia.

Tiffany's 2024 Predictions and Observations: As 2024 begins, we are slowly emerging from the bear market, and the Web3 landscape is expected to experience significant growth, with Asia at the forefront of this transformation. Since 2023, we have seen a significant amount of resources invested in the region, giving Taiwan the opportunity to become a key entry point for the Chinese market. This strategic focus on Asia highlights the growing importance and potential of the region in driving innovation and adoption in the Web3 space.

In the business realm, enterprise and institutional adoption is set to surge. Years of foundational work and strategic trading are solidifying, signaling that these collaborations will surface in 2024. This trend marks the broader acceptance and integration of Web3 technology in various fields, heralding a new era of efficiency and innovation in enterprise and financial frameworks.

With the unprecedented popularity of Web3 games, the gaming industry is undergoing a positive transformation. AAA games launched by studios led by experienced industry veterans are highly anticipated and expected to attract a large user base, propelling Web3 games into the mainstream.

NFT will redefine digital interaction and ownership, transcending art and collectibles to become an indispensable part of daily infrastructure. I believe that NFTs will seamlessly integrate into various applications, including digital collectibles, ticketing, loyalty programs, and fashion, making people aware of their existence through consumer-oriented yet cleverly integrated experiences. This evolution reflects a mature understanding and application of NFTs, highlighting their potential to provide more personalized and interactive digital experiences.

Finally, I would like to call 2024 the true entry time for Web3, where the promise of Web3 is not just conceptual but is actually integrated into daily life. This maturity reflects the culmination of years of development, experimentation, and refinement, marking a milestone in the journey of Web3 from a niche interest to a fundamental component of our digital future.

tsucccc Zhou Zijun / CEO of DA Capital

DA Capital was founded in 2022 and is committed to building a high-quality financial community and trading team. The team members consist of various financial analysts, including the top 100 traders on the world's largest exchange Binance, renowned forex traders, and graduates from top business schools in the United States, aiming to create a higher quality financial education and investment research organization.

Zhou Zijun's 2024 Predictions and Observations: In 2024, I believe the focus should be on the war among exchanges. The process of compliance is accelerating, and the competition among exchanges will intensify. Therefore, I personally will focus more on platform tokens and see if they can achieve explosive growth through platform tokens.

BrainBroCrypto / Founder of BrainBro Chill Blockchain

• Popular Chinese blockchain YouTuber, with over 7.5 million total channel views.
• Created the beginner's educational platform "Chain Learning," dedicated to popularizing basic blockchain knowledge and industry analysis.

BrainBro's 2024 Predictions and Observations: I am quite confident in this bull market, but I often tell my friends not to trust YouTubers' predictions about the market, and I happen to be one of them… so it's better to be cautious and not rely too much on them, because the following market predictions are likely to be very wrong:

1. Bitcoin may break through $60,000 before the halving. The reason is that the Bitcoin spot ETF is being underestimated. If the ETF is successfully approved in January, it will be the first time that Wall Street funds begin to seriously invest in the cryptocurrency market. And Bitcoin is only 15 years old, while Warren Buffett is 97 years old, so this industry is still young and has huge potential.
2. The halving event is a "Sell The News" event. If the Bitcoin spot ETF is approved in January, institutions will use the halving event in April to hype the market, which is one of the reasons why I think the growth will be high from January to April. Conversely, there may be a "Sell the News" event after April. (Note: Assuming the ETF is approved as scheduled)
3. Despite the overall long-term bullish view, there will still be several major pullbacks. One of them will occur at around a Bitcoin MVRV of 2.4, at a price of around $52,000. The reason is that the past two cycles in 2016 and 2020 followed this pattern.
4. The first quarter of 2024 will pay special attention to the growth of the Ethereum ecosystem, including Layer 2, due to the positive impact of the Ethereum EIP 4884 Cancun upgrade. However, if there is no other positive growth momentum after the upgrade, it may slow down.
5. Several Taiwanese cryptocurrency projects, led by DeFi and GameFi, will receive market attention. The reason is that Taiwan is already strong, and many excellent teams have continued to develop during the past two bear markets.
6. After the Ethereum Cancun upgrade, the growth of other Layer 1 ecosystems will surpass the ETH main chain. One reason is that Layer 2 will divert the price increase of ETH, but I still have confidence in ETH, there will always be whales holding ETH, and more will appear in this cycle.
7. If the 2024-2025 bull market needs a core narrative, DePIN may become the "metaverse" of this cycle. And there is a chance that it will face another bubble. The reason is simply that I think this term is too cool.

Justin / Founder of J club

• Currently has 500 community members from Taiwan. We are committed to creating an open, inclusive, and vibrant community to discuss the development trends, applications, and investment strategies of blockchain technology.
• Co-organized multiple offline events in 2023, including memeland, orderly, TBH hackathon, and offline gatherings for TBW. These events provided a platform for community members to learn and grow together.

Justin's 2024 Predictions and Observations:

1. Predicting that the BTC spot ETF will be approved in the first quarter.
2. The inscription and derivative tracks of various chains will experience more active development and speculation driven by capital.
3. GameFi will experience a wave of enthusiasm in the first half of the year.
4. BTC Layer 2 and blockchain projects combined with AI will receive attention.
5. Predicting that Coinbase's stock price will continue to rise to new highs after a pullback.
6. Predicting the exchange ranking to be Binance - OKEx - Upbit - Coinbase International.

In summary, in 2024, there will be new stories similar to the 2020 DeFi/2021 NFT/2023 Friend tech; the focus can be on Bitcoin halving, AI, all-chain inscriptions and derivatives, Layer 2, and related currencies in GameFi.

Harry Lee / Renowned Web3 YouTuber

Harry's 2024 Predictions and Observations: I remain optimistic about 2024. First, in the first quarter, the United States is expected to approve a Bitcoin spot ETF, which will be an important milestone for the long-term benefit of Bitcoin.

Secondly, in the second quarter, there will be the once-in-four-years Bitcoin halving event, which means that Bitcoin's computing power will reach a new high. Thirdly, the Federal Reserve will have three interest rate cuts next year, which will ease economic pressure and promote economic development. From a macro perspective, 2024 will be favorable for Bitcoin throughout the year. Get ready for the arrival of the bull market!

Cryptor / Co-founder of MurMur Cats

• Established the podcast channel "Whisper of Cryptocurrency Millionaires," ranking first in the Taiwanese business cryptocurrency rankings, with over 600 reviews and recommendations of over 4.8 stars, with listeners from 64 countries worldwide.
• The NFT community "Murmurcats," founded by Cryptor, still has over 1,000 active paying members, making it the highest-valued NFT community in Taiwan, with over 10 investment reports published monthly.

Cryptor's 2024 Predictions and Observations: [No specific content provided]

1. In 2024, due to the increased regulation of the cryptocurrency industry by governments worldwide, top exchanges with the ability to create and support their own public chains and wallets will increase their resource investment. This will enhance the user experience of various on-chain protocols through the integration of exchanges and wallets.

The competition among centralized exchanges will also extend to wallets and the public chains they support. Exchange wallets will benefit from exchange subsidies, providing more opportunities to earn money. This will create a one-stop wealth effect for on-chain protocols to collaborate with exchanges for listing, attracting more users who originally only traded on exchanges to various public chains, significantly increasing the number of active on-chain addresses.

2. Thanks to the integration of exchanges and wallets and the one-stop wealth effect, as well as various narratives surrounding BTC in 2024, such as the approval of spot ETFs, the halving, the development of inscriptions, and L2 Stacks upgrades, the BTC ecosystem will receive more attention and funding. Teams and protocols under development are expected to ride the market narratives in 2024, leading to waves of speculation and corrections.

3. In addition to the fundamental bullish factors of the public chain and wallet ecosystems mentioned above, 2024 will witness a multi-chain celebration, accompanied by the Ethereum Cancun upgrade, the issuance of tokens for Ethereum staking and restaking, a wave of airdrops from emerging public chains, and the improved layout of the TON ecosystem, which has a gateway to Web3 traffic for hundreds of millions of people.

4. Following the end of 2023, more sophisticated and entertaining blockchain games will continue to emerge in 2024. One or two of these games are expected to dominate the market and successfully attract a large number of cryptocurrency enthusiasts to pay attention to the blockchain gaming track. However, ultimately, just like the excitement surrounding the UEFA Champions League, there will be a wave of fan tokens or gambling protocols, which, due to the lifecycle of games, will gradually fade away after the hype, unable to leave behind a lasting game IP.

5. The cryptocurrency industry, as a risky asset class, will show signs of recovery from its darkest moments, as the tightening monetary policy is officially relaxed. Those who have persevered and faced challenges during the bear market in 2022-2023 will reap the deserved rewards.

Edward / Founder of Coin Circle Lamp God

I predict that April 2024 will usher in a raging bull market. The reasons include the halving, the potential approval of the Bitcoin ETF, and the fact that April is the month of Taurus, so how could we lose?

The bull market is expected to appear at just the right time, and with the Taurus sign, known for being thrifty and prudent, it's a good time to save money over the next few months and go all in in April, which should lead to financial freedom.

January is likely to be tough for the cryptocurrency market because I will be traveling, and the market will wait for my return to make money! Also, with everyone giving out red envelopes for the Lunar New Year, the cryptocurrency market is bound to explode!

Michaelturtle / Founder of Turtle Talk

1. Loose monetary policy: The oil-gold ratio, copper-gold ratio, and 10-year Treasury bond yields all show signs of peaking. The core PCE continues to slow down, and the federal funds rate is expected to start declining in the first half of 2024. After the FOMC meeting in December 2023, Powell explicitly discussed interest rate cuts, and the dot plot gave a forecast of a 3-point rate cut to 4.5-4.75% next year. This will create a gradually loose monetary environment in 2024.

2. Index growth in the fourth Bitcoin halving cycle: The geometric growth in the number of users will be the key to the success of the fourth cycle. In 2024, it will be crucial to overcome the three major pain points: legality, ease of use and security, and consensus and popularity.

   Legality: Hong Kong has opened applications for virtual asset trading platform operation licenses, and the SEC's increasing pressure on defining the position of cryptocurrencies is expected to lead to clearer regulatory frameworks in the United States in 2024, which will be a major boost for the fourth cycle.

   Ease of use and security: ARK's report mentioned that BTC applications are still unable to solve many financial problems, and the difficulty of balancing security and ease of use has hindered exponential user growth. However, this year has seen many optimizations of Web3 wallets and the development of various DeFi projects, which are gradually addressing this pain point.

   Consensus and popularity: The approval of the Bitcoin ETF in 2024 will be the biggest topic in the cryptocurrency market. The implementation of the ETF will lead to the popularization of Bitcoin, and as long as Bitcoin can capture a small portion of the old money, it can lead to exponential growth.

3. Embracing new things, focusing on new rather than old: Many projects that participated in private placements in the second half of 2023 are now focusing on developing applications for the Bitcoin ecosystem. The Bitcoin ecosystem is highly likely to be the protagonist of the second half of the bull market, and the biggest beneficiaries behind the scenes, such as miners and major shareholders on Wall Street, will continue to hype this theme.

   KAS: KAS, born in the bear market, focuses on solving the "impossible triangle." If it can rewrite its infrastructure and implement smart contracts and build an ecosystem in 2024, it will gradually demonstrate its advantages of lower energy consumption, higher efficiency, and better security over time.

Raysky / Founder of Raysky's Investment Path

Raysky, a popular blogger in Taiwan, has been involved in cryptocurrency since 2016 and has been sharing knowledge about US stocks and cryptocurrencies on his blog since 2018. In 2020, he was selected as an official partner KOL for Binance, known as "Captain Binance."

Raysky's 2024 Predictions and Observations: After the United States stopped raising interest rates in 2023, the worst period for the market has passed.

2024 will mark the return to an interest rate reduction cycle, which is the best bullish factor for the cryptocurrency market. Buying Bitcoin is the safest choice, and for those with time, researching new projects and new currencies may present an opportunity for a wealth explosion.

Humans are a species capable of acquiring cognitive wealth. It's important to build knowledge during this (possibly the last) bull market, as it will not be in vain.

Woody / Whale Trader in the Asia-Pacific Cryptocurrency Community

1. Many games will be listed next year, so some attention should be focused on gaming. In the past, the gaming cycle has been relatively short-lived because gaming tokens are infinitely inflated and eventually return to zero. However, it's worth looking into tokens that allow shorting, for example, by using contracts or borrowing to force short sellers to liquidate their positions, which can significantly extend the lifespan of the game.

2. Although inscriptions are well-known for their speculative nature, they are still worth keeping an eye on because they are a cash cow for miners. Occasionally, leading inscriptions can also control the market and harvest profits. This area can also be observed to see if there are leaders in the European and American communities initiating their own inscription protocols, which may lead to a short-term speculative rally from Europe and America.

3. Holding onto promising tokens for a long time is more important than the weight of the position. During overheated market conditions, it's important to remain patient, as there will definitely be times when market sentiment turns pessimistic.

Zeng Kewei / IOTA Asia-Pacific Head, Administrator of Several Influential Asian Communities

• Active in influential communities such as the IOTA Chinese community, Virtual Currency Flow Bar, Solana Chinese community, etc.
• Operates the "Physics Apprentice Staring at Singularities" blog, providing unique and professional insights into blockchain expertise.

Zeng Kewei's 2024 Predictions and Observations:

2024 will be the year of cryptocurrency compliance.

BTC will become a compliant asset through ETF approval, allowing mainstream capital to hold cryptocurrencies. Meanwhile, inscriptions will continue to exist but will be seen as a cooling asset category.

ETH's Layer 1 (L1) network has accumulated rich technical foundations, reducing the cost of Layer 2 (L2) through EIP-4844, and ZK rollup will create a wealth effect. These developments will continue to contribute to the growth and accumulation of the ETH and Ethereum Virtual Machine (EVM) ecosystem.

Regarding wallets, AA wallets will lower the user threshold, but MPC will be the fast lane for new users to enter the cryptocurrency circle. Excellent projects such as OKX WEB3 wallet will continue to shine in 2024, and MPC wallet collaboration with CEX will be the main way to bring users onto the chain.

SOL will continue to leverage its technological advantages through compliant payments and user applications, such as stablecoin partnerships in various countries and collaborations with VISA. DePin will continue to be an important narrative for mass adoption, and Solana mobile holders may eventually receive airdrops of over 60,000 USD.

In 2024, the market capitalization rankings of the top three cryptocurrencies will remain unchanged, with BTC still larger than ETH, and ETH still larger than SOL.

In terms of developer ecosystems, the layout will remain unchanged: EVM > SOL > Cosmos. BTC is unlikely to have rich applications, and the adoption of new public chain virtual machines (VM) will also take time.

Privacy public chains and applications will continue to grow, but events such as the arrest of developers, similar to the Monero developer incident, may occur again and lead to the delisting of related trading pairs by major exchanges.

Stablecoin payments will remain the most important cryptocurrency application, with USDT maintaining its leading position. However, many excellent compliant stablecoin newcomers, such as USDV or Fluent USD, will join the market.

Mass adoption will still take time. While CEX registrations will exceed 500 million, the number of on-chain users will remain below 100 million.

The regulatory framework in the United States will gradually become clearer (accompanied by various lawsuits), and Hong Kong will continue to maintain a friendly attitude towards Web3, at least on the surface. However, cryptocurrency compliance and the large-scale on-chain of assets may be realized in the UAE or Singapore.

The ancient IOTA will receive formal compliance certification from the EU EBSI and obtain more than four government cooperation cases and compliance approvals in East Africa and the Middle East. Its Shimmer testnet will implement the long-planned IOTA 2.0 consensus mechanism and token economy.

Jill Chou / Founder of Coin Repair Credit

• Coin Repair Credit is now the largest Chinese-language cryptocurrency beginner education account on IG, providing educational content on blockchain, cryptocurrency, macroeconomics, technical analysis, and major current events in a fresh and easy-to-understand style. It offers a wealth of online courses, beginner classes, advanced classes, and other teaching resources, aiming to address the "information gap."
• At the end of 2023, it became the first to call on industry companies to advance the largest traditional financial exhibition in Taiwan, and jointly created the "Bitcoin Theme Pavilion" with 8 companies at the Taipei International Financial Expo hosted by This Week magazine, achieving a record of over 10,000 high-quality exhibition visitors.

2024 Predictions and Observations:

Overall economic outlook: Last year's US CPI data shows that the Federal Reserve has done quite well in controlling inflation. The fact that there were four interest rate hikes in the first half of last year and none in the second half indicates that the cycle of interest rate hikes and balance sheet reduction has come to an end. The US stock market and cryptocurrency market will enter a clear bull market, especially considering that Bitcoin has been steadily rising throughout last year. The beginning of the bull market is already quietly here, and the probability of a mid-bull and end-bull market from this year to early next year is high. Conversely, the US dollar will decline significantly.

Regulations: Last year was a year of significant regulatory growth in Taiwan. In September last year, the Financial Supervisory Commission officially proposed the Virtual Asset Service Provider (VASP) guidance principles. There is a high probability that it will move towards specialized management, which will have a significant impact on Taiwanese investors. It is essential to continue to pay attention in the next two years.

In addition, the much-anticipated Bitcoin spot ETF is likely to see the result of whether it is approved by the SEC in the first half of this year. Its impact will not only affect the price of the currency but also change the legitimacy of investing in Bitcoin and indirectly affect global regulations. It is a major event that cannot be ignored this year.

Sectors: The resurgence of inscriptions at the end of last year once again proves that new things always emerge in the cryptocurrency market during each bull market. It is definitely not wrong to jump into this new thing, and it has created many overnight fortunes in the short term. Unfortunately, this sector still attracts relatively little external funding. Therefore, this bull market is more optimistic about several sectors:

1. Layer2: Investing in infrastructure in the cryptocurrency market is a relatively stable practice, especially in the Ethereum-related ecosystem. It is hoped that the upgrade, talent, and new systems will be compatible or seamlessly integrated with Ethereum. This indicates that there is still considerable room for growth in this track. Although the price of the currency will not skyrocket like small coins, its performance will certainly be impressive. Ethereum's price increase is currently lagging behind Bitcoin, but it can be expected to catch up later and raise the prices of related ecosystems.

2. RWA: Real-World Assets, in simple terms, are like the capital securitization of traditional finance. The reason for optimism is that if the Bitcoin spot ETF is approved, it is relatively an indirect endorsement of the legitimacy of blockchain technology. On-chain representation of real assets such as real estate (housing and leasing flows), loans, contracts, and guarantees will increase the flexibility of current traditional financial practices. There is considerable room for growth, and it is also an opportunity for large external funds to enter.

3. SocialFi: The last track that is optimistic is SocialFi. During a major bull market, it will attract a large number of new external users, just like the previous NFT bull market, which needs an entry point for outsiders to join. SocialFi can effectively attract influential people to join, and the financialization of their influence will encourage more Web2 influencers to financialize their influence, thereby bringing in more people and forming a new entry point for external funds to enter.

Li Tingting / Founder of The Z Institute

• Started taking on various blockchain projects since 2017, including DeFi, NFT, GameFi, etc., and established her own academy brand, The Z Institute, to train new blockchain talents.
• Founder of Taiwan's largest AI Line community, "AI Tool Research Society."

Li Tingting's 2024 Predictions and Observations:

The promising track is the combination of AI and web3, such as opml and zkml technologies, which make AI model input prompts and output images, videos, music, etc., verifiable. Currently, I am working on a project called 7007 Studio, which has created ERC7007 to define a new AIGC Token format.

In addition, I am also optimistic about social applications that are closer to true Web3, as I have observed that the discussions in the Web3 community are actually more on Telegram, but there is a lack of a bot as user-friendly as Discord. Therefore, I am developing a Telegram community management tool specifically for managing high-quality communities. It can analyze the activity of group members, organize key points, and conduct sentiment analysis. Alpha testing is expected to begin at the end of January, and I hope it will become a helpful tool for chasing alpha news during the 2024 bull market.

Jimmy / Cool Lab

The Youtube channel has over 100,000 followers and shares various basic knowledge in the blockchain field to help readers increase their income.

Cool Lab 2024 Predictions and Observations:

2024 will be a narrative journey led by the Bitcoin spot ETF. I believe this will lead more Web2 institutions and funds into the cryptocurrency market, which is still in its early stages in the medium to long term. We will also welcome the fourth Bitcoin halving. I believe the bull market will return in the second half of this year. In the first half of the year, you can dollar-cost average (DCA) into valuable assets within controllable risks. After the halving, there will be slow but fruitful returns. This will be one of the few major bull markets left.

Seize this opportunity and take off together!

Lan Hsu / EM3 DAO Founder

• The EM3 community brings together many influential KOLs in Taiwan, committed to early discovery of technology trends and investment opportunities, and seeks cryptocurrency trends in various fields through community exchanges and research.
• Engages in various emerging potential projects internationally (Impossible Finance, GuildFi, etc.) and enters the Taiwanese market and investment community.

Lan Hsu's 2024 Predictions and Observations:

FTX's bankruptcy case has sparked stricter global regulation of the cryptocurrency industry. Binance has been sanctioned by the United States, and its CEO CZ has reached a plea deal, paying a huge fine.

However, this series of rectification actions heralds a more transparent and regulated market, reducing fraud and crime, and gaining more trust from investors. Looking ahead to 2024, with strengthened regulation, many cryptocurrency projects will face dissolution or restructuring.

Investors' strategy should be to look for projects with strong community support, sufficient funds, and compliance. Even in a market downturn throughout the year, the solid foundation and community support of these projects will be crucial.

Focus on investing in infrastructure and major application layers, as these projects will reap the greatest market benefits when the bull market returns. 2024 will also see the Bitcoin halving. If combined with the approval of the spot ETF, it will bring new incremental funds to the Bitcoin market. In addition, the diversification of the cryptocurrency market will expand the use cases of Bitcoin.

Therefore, a prudent strategy is to continue investing, buy on the dip, and patiently wait for the market opportunities brought about by the halving event and ETF approval.

Benson Sun / Founder of Benson’s Trading Desk

• Former FTX Global Trading Competition champion, proficient in derivatives and on-chain data analysis, and one of the most popular Asian script developers on Tradingview.
• TG channel Benson’s Trading Desk provides professional Bitcoin market trend analysis and current affairs discussions.

Benson's 2024 Predictions and Observations:

1. $SOL will break the historical high of the last bull market at $260, and Solana TVL will reach 20% of Ethereum's.
2. Benefiting from the significant improvement in the Web3 application experience due to Account Abstraction technology, ETH Layer2 will see phenomenal GameFi projects that will surpass Axis Infinity and STEPN in momentum.
3. The BTC inscription craze has brought lucrative transaction fee income to miners, changing the income model of miners from primarily block rewards, which will change the valuation model of mining stocks.

Lawyer Lin Hongyu (Guo Ke) / Director of the Financial Technology Department of Hengye Law Firm

A legal expert in the blockchain field, involved in the drafting of the virtual asset special law this year, actively promoting the establishment of the Taiwan Cryptocurrency Industry Association, and also the chairman of the Bitcoin and Virtual Currency Development Association.

Lin Hongyu's 2024 Predictions and Observations:

There is an urgent need worldwide, including in Taiwan, to develop a national strategy for Bitcoin and cryptocurrency beyond regulation.

Bitcoin will continue to be important in 2024 and will expand its reach because any project (including NFTs) will want to choose the safest underlying blockchain. Lightning Network and Nostr decentralized social protocols built on top of Bitcoin are worth close attention.

CryptoPaul / Founder of Coin Circle Paul

A full-time cryptocurrency trader, sharing technical analysis knowledge and information on the NFT market and in-depth project introductions.

CryptoPaul's 2024 Predictions and Observations:

2024 will see many important events, including the Cancun upgrade, BTC and ETH spot ETFs, and the BTC halving. These events can trigger many discussions and drive price increases.

In the first half of 2024, I believe it will be a period of significant volatility. Since the end of 2023, BTC has returned to a level above $40,000, and the spot ETF event has already been priced in.

In the second half of 2024, with the washout during the first half of the year, the institutions will hold their chips, and with the BTC halving approaching, there is an opportunity to challenge historical highs and welcome 2025. In terms of on-chain views, it is important to pay attention to GameFi, RWA, inscriptions, and ZK-related tracks, focus on new rather than old, and wait for the outbreak of the bull market. Wishing everyone successful investments and great wealth!

Mr. Wang

Entered the cryptocurrency market in 2017, starting with buying $ETH at $80. Engaged in quantitative trading from 2020 to the present, often sharing cryptocurrency technical analysis and information on new projects in the community.

Mr. Wang's 2024 Predictions and Observations:

Just experienced the hype of the second half of 2023 in the cryptocurrency market. With the combination of many positive news, we are about to encounter the Bitcoin halving in 2024 once again. Take this time to step up your research. You may have noticed that certain related coins in certain tracks have not yet shown their true power. Observe more, and you will find opportunities everywhere.

Reminder: Don't go where there are already many people!

Steven / Founder of Little Miner Mining

Founded the "Little Miner Mining" Youtube channel, specializing in creating practical tools and value for the community, dedicated to helping community members better understand and participate in the world of blockchain and cryptocurrency.

Steven's 2024 Predictions and Observations:

1. Expectations and reality of the Bitcoin halving: - 2024 will see another Bitcoin halving, which has historically been seen as an important factor driving price increases. However, it is important to note that past trends do not guarantee future results. The market's reaction to the halving may vary due to technological advancements, regulatory changes, or macroeconomic factors. Therefore, investors should closely monitor market changes before and after the halving event and be prepared to address related risks.

2. The Craze and Innovation of Derivative Products: - In the last bull market, derivative products such as NFTs and GameFi gained widespread attention. Currently, there are many NFTs on the market that have no practical application, similar to the current trend of "meaningless inscriptions," and although these products may not have obvious practical value, they can still ignite market enthusiasm. In addition, some classic GameFi projects such as Axie from $AXS, AIHero from $BNX, and Gas Hero from $GMT are launching innovative products and gameplay, preparing for the market competition in 2024.

3. Market Trends and Investment Strategies: - The current market trend indicates that we may be entering an upward phase. For investors seeking high returns and able to bear corresponding risks, small investments in derivative products may be an attractive option. However, for investors with lower risk tolerance, it is recommended to adopt a low-leverage or phased investment strategy, which can diversify risks and benefit from the long-term growth of the market.

In summary, the blockchain and cryptocurrency market in 2024 will provide various opportunities but also come with considerable risks. Investors should formulate investment strategies based on their risk tolerance and in-depth analysis of the market.

Genius Ashui

Focused on educating and training beginners, hoping to provide a friendly and free environment for more newcomers who want to learn about the cryptocurrency field. I am also fortunate to have become the captain of Binance in Taiwan this year and have the opportunity to contribute to my favorite field.

Genius Ashui's 2024 Predictions and Observations:

"Darkness before dawn."

Summarizing 2023, it can be said that the darkness is finally passing, and dawn has finally arrived. The market also gained confidence with the news of the Belay ETF, and Bitcoin has risen from its low to nearly $45,000. Many areas such as GameFi, inscriptions, and L2 are flourishing, which inevitably leads to anticipation for the future market. However, for me, 2024 will be a crucial intersection.

Looking at the overall environment, the global economy has not reached a turning point, and the pace of interest rate cuts has not yet started. Whether the Belay ETF can be approved is still a question mark. Even if it is approved, it is unknown how much traditional market funds will flow into the cryptocurrency market. The current market confidence mostly comes from expectations for the "future" and has not been solidly built on fundamentals. This also means that the market in 2024 may have the opportunity to experience extreme market conditions.

Many cryptocurrency veterans who bravely increased their positions at the low point will start to take profits in 2024, converting their investment positions to light or even empty positions, waiting for a significant pullback before the bear market, and waiting for the last opportunity to get on board. However, many new cryptocurrency investors have not experienced the history of bull and bear markets, and their lack of fundamental understanding of the market, combined with rushing forward, may result in losses far more severe than traditional financial markets, ultimately leading to a loss of confidence in this market.

The market is real and bloodthirsty. Only those who can endure the darkness will have the opportunity to welcome the dawn. 2025 is when I estimate the real "bull market" will arrive. The best preparation before the dawn comes is to continue working diligently to accumulate investment capital and to study and learn about the cryptocurrency field, so that with the right knowledge, one can earn the wealth that should rightfully belong to them and ultimately have the opportunity to survive and become a true advocate of cryptocurrency in the market.

Gbrother

A Taiwanese cryptocurrency veteran, also a YouTuber and podcast host, actively promoting cryptocurrency-related knowledge.

Gbrother's 2024 Predictions and Observations:

The outlook for blockchain in 2024 is optimistic. Bitcoin is expected to surpass $69,000 again with the fourth halving and ETF push. DeFi continues to thrive, and the locked value of Bitcoin DeFi may increase from $300 million to 1-2% of the market cap.

The NFT field is rapidly developing within the Bitcoin ecosystem, introducing new consumer use cases. The social sector will see more experimental projects, and the TradFi-DeFi bridge will drive financial institutions to participate. The combination of modular blockchains and zero-knowledge proofs will lower the development threshold and provide more flexible smart contract options.

Compute-intensive applications will move onto the chain, and public blockchains will form a "hub-spoke" model, with small ecosystems focusing on specific vertical markets. 2024 will see comprehensive development of blockchain in finance, social, NFT, and other fields, injecting vitality into the global economy.

Crypto Wilson / Co-founder of Volume Dao

Integration of Decentralized Networks and Art

I write, speak, and promote projects related to the integration of decentralized networks and art, and have been involved in planning exhibitions such as "Will Machines Dream of NFTs?" (2022), "Taipei Generation Next" (2023), and "Influentia" (2023).

Zhang Baocheng's 2024 Predictions and Observations

After the bear market of 2023, we can see that people who want to take action continue to do so, and valuable projects continue to develop. Insight into issues, innovative mechanisms, and understanding of significance are what lead to success.

Combining artistic works, platforms, and exhibitions with decentralized networks is similar to public welfare initiatives. It's not about grabbing media attention or accumulating capital, but about facing the essence of things and exploring aesthetics and social value. Only by proceeding step by step can there be a return.

Some domestic actors are focusing on refined, serious, and historically significant artistic expressions (my team is just one of them). Although they are on the fringes of the mainstream market, they are working hard to take root and connect externally. The results are gradually becoming apparent, and next year, they will be able to reach greater heights due to the surge in international momentum. More and deeper international cooperation is the first trend.

Last year also witnessed the remarkable rise of AI. This is the result of many years of accumulation in the field, not a sudden emergence. However, the waning enthusiasm at the end of the year and the stable growth of technology have also drawn attention to the slowing momentum of AI. Those who do not get distracted by the spotlight and truly understand the breakthroughs of AI will continue to combine decentralized networks to create new achievements. The closer and more organic interaction between AI and blockchain is the second trend.

We all know that the user interface and experience of Web3 have always needed improvement. In fact, what needs to be strengthened also includes the basic understanding of this field by the general public. The "general public" includes not only the masses but will eventually extend to minority groups, from children, the elderly, new immigrants to people with intellectual disabilities. If they can also understand this field, there is no reason why the general public would not understand. More straightforward and "easy-to-read" popular science language is the third trend.

Art is the field for forward-looking experiments in society, almost like the oldest "sandbox." Here, we can promote the most sophisticated and complex classic works, as well as allow the most people to understand and use humanity's public wealth in the simplest way. There are no borders here, and cross-regional connections are its basic state.

Shui Fengdao

One of the representatives of Taiwan's knowledgeable internet celebrities, sharing not only how to improve competitiveness in the workplace and entrepreneurial knowledge but also beginning to explain knowledge about blockchain and cryptocurrency, actively involved in the hottest NFT and GameFi fields.

Shui Fengdao's 2024 Predictions and Observations

I am very happy that I can influence more students through blockchain education. So far, I have taught over 10,000 students. As a KOL and teacher in the blockchain field, I am passionate about the upcoming 2024.

For the arrival of 2024, we can see trends from our blockchain classroom, which is that more people will join the blockchain field and start using DeFi, NFT, DApps, and more, making these things more popular.

First, dApps will become the main battlefield for blockchain innovation. As technology matures, we will see the huge potential of dApps in solving problems in traditional centralized systems, especially in increasing transaction transparency, reducing costs, and increasing user control. This will open up decentralized solutions for industries such as finance, healthcare, and production management, creating new operating models.

Next, let's talk about decentralized finance (DeFi). DeFi is preparing to disrupt the operation of traditional finance. By providing innovative lending, trading, and investment platforms, DeFi not only improves the accessibility of financial services but also reshapes people's views on financial transactions and asset management.

Regarding the NFT market, it has expanded from a single field of art and collectibles to more application areas. In 2024, NFTs will be integrated into our daily lives and will represent not only art but also real estate, luxury goods, and even ownership and usage rights of intellectual property.

Finally, I believe that blockchain technology will be combined with cutting-edge technologies such as artificial intelligence (AI), opening up new application areas. This interdisciplinary integration will accelerate innovation and drive the application of blockchain technology in various industries. Overall, 2024 will be a crucial year for the development of blockchain technology, and we will witness how it deeply influences our economy, culture, and daily lives.

This year will be full of challenges and opportunities, with widespread application and profound impact of blockchain technology.

Yummy Crypto / Co-founder of Fomo Babies

2023 - we pre-rich. 2024 - we rich.

In 2023, I believe everyone was cautious, but personally, I feel quite bullish about the upcoming 2024 because we can see more diverse real-world enterprises and industries gradually joining, leading to greater development and more people seeing this field.

Especially after participating in this year's Hong Kong Apefest and Taipei Blockchain Week, I don't think we are in as bearish a state as we imagine. Everyone is preparing bullets to face the upcoming battle.

I am quite familiar with the NFT field, and although PFP narratives may not be as strong as in previous years, I believe that NFTs in 2024 will have greater breakthroughs and new uses.

Zhou Yongyou / Founder of Block Help

A senior KOL focused on the cryptocurrency community, particularly optimistic about the GameFi field and meme coins, especially those on the Ethereum chain, as these types of projects are more likely to gain attention and allow the general public to engage with Web3.

Zhou Yongyou's 2024 Predictions and Observations

Looking ahead to 2024, I am full of expectations for the cryptocurrency market:

1. Accelerated Technological Innovation: We are expected to witness further innovation and maturity in blockchain technology, especially in the areas of smart contracts and DeFi, where more innovative applications will emerge.

2. Clarity in Regulatory Environment: As cryptocurrencies gradually become mainstream, governments around the world are expected to establish clearer regulatory frameworks.

3. Increased Participation of Institutional Investors: Improved regulatory clarity will attract more institutional investors to enter the crypto market.

4. Integration of Cryptocurrency and Traditional Finance: Cryptocurrencies are expected to integrate more closely with traditional financial markets.

5. Increased Mainstream Acceptance of Cryptocurrencies: Strengthened public education and increased practical use cases will enhance the mainstream acceptance of cryptocurrencies.

6. Rise of Emerging Cryptocurrencies: New cryptocurrencies and tokens based on innovative technologies and solving specific problems will quickly rise. In summary, 2024 will be a year full of opportunities and challenges for the entire cryptocurrency industry.

I look forward to exploring more opportunities and growing together with my community members. Thank you for your support, and let's welcome an even more exciting 2024 together!

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