From spot bitcoin ETFs to real-world assets, industry leaders share their crypto outlook for 2024
Quick Take Crypto industry leaders share their thoughts on the digital assets outlook for the year ahead, covering everything from spot bitcoin ETFs to stablecoins, real-world assets, NFTs and regulations.
Let’s take a look at what they expect in 2024.
Kraken UK Managing Director Bivu Das
Kraken UK Managing Director Bivu Das said the crypto industry in 2024 has the potential to take another “major leap” toward mass adoption, especially within the UK.
Beyond the short-term anticipation of spot bitcoin ETF approvals in the United States, Das said he reckons the overall market will remain optimistic going into Q1 of 2024. “This is because there are major milestones on the horizon for two of the largest crypto assets by market cap, including Bitcoin’s next halving and Ethereum’s Dencun upgrade,” he said.
In the UK, following the Treasury’s recent policy statement , ahead of an intention to bring out crypto asset regulation next year, Das expects the country to be “noticeably closer” to becoming a global crypto hub by the end of 2024.
Greater regulatory clarity means UK-based firms are no longer at a disadvantage to those offering services from overseas, according to Das. “I see institutional trading volume significantly picking up within the UK market, as more products and services come to market that meet the needs and expectations of these institutional investors,” he said.
“This is being supplemented by the Government’s Digital Securities Sandbox, which will fast-track the adoption of crypto asset technology in traditional markets, and recent work by the Asset Management Taskforce which outlines a vision for the tokenization of investment funds,” Das added.
Ava Labs President John Wu
John Wu, President of Avalanche developer Ava Labs , sees 2024 as the year where stablecoin product market fit is established, with stablecoin settlements exceeding annual Visa volumes for the first time.
Wu is among many in the industry anticipating a spot bitcoin ETF will be approved, and he predicts bitcoin’s market cap will increase by 50% next year as a result.
Elsewhere in the crypto space, Wu expects web3 gaming to have its first mainstream hit, with a breakout game seeing a nine-digit user base and leading traditional game developers to join the space. He also anticipates a resurgence of NFTs as they gain new utility beyond collectibles. “Real-world applications such as customer engagement strategies will demonstrate more clear use-cases like loyalty programs,” he said.
Finally, Wu expects AI to make web3 more secure and vice versa. “Large Language Models are perfect for reviewing smart contracts and other vital code to ensure would-be exploits are stopped before they start. DeFi hacks and smart contracts exploits will become rare,” he added.
Gnosis co-founder Dr. Friederike Ernst
According to Gnosis co-founder Dr. Friederike Ernst, “2024 will be the year that the web3 ecosystem either rises to the challenge of providing more user-friendly experiences or remains niche for yet another year.”
“If Ethereum and other credibly neutral blockchains are going to become the global settlement layer, then the applications that run on it need to be made usable to a much wider audience,” he said. “It’s time we turn the very abundant research and proof of concept work that’s been achieved over the last few years into actual UX improvements for live products.”
Developments in account abstraction technology mean that seed phrases could become a historical practice for most in 2024, Ernst added. “The idea that the safety of assets meant having 12 words that you can never lose, but no one else can ever access, is outdated and to a large extent has been holding back progress for actual user adoption,” he said.
Concordium co-founder Lars Seier Christensen
Concordium co-founder Lars Seier Christensen was less optimistic about the prospect of spot bitcoin ETF approvals and the Bitcoin halving event leading to a new bull market in 2024.
“It is all a little bit too much ‘textbook stuff’ for my taste — halving, ETF approval and then a new bull market. Normally, in traditional financial markets, these types of scenarios aren’t necessarily predictable because experienced participants are able to anticipate potential developments beyond the obvious,” he said. “But maybe, due to the immaturity of crypto markets, it will play out as everyone predicts. I would be very careful, though. I think we will be in for some surprising deviations from the generally predicted path.”
Christensen was more positive on blockchain-based stablecoin and real-world asset adoption in the year ahead. “I think stablecoins right now are the most important use case for blockchain, eventually to be replaced or expanded by more general RWA tokenization,” he said. “In their current stage, stablecoins make a lot of sense when it comes to transfers, settlement and finality. For these reasons, they will be embraced further in 2024, both in private solutions and new public sector experiments.”
Christensen also argued reliable and trustworthy ID solutions on blockchain were becoming a necessity, especially given the rise of deepfakes and identity theft.
VeChain CEO Sunny Lu
Sunny Lu, CEO at VeChain, also didn’t think the bitcoin halving would have much of an impact, but that spot bitcoin ETF approvals and market regulations are much more significant for the year ahead.
“The attention of the entire crypto market is on ETF progress for bitcoin spot, which I believe may be the biggest milestone in bitcoin and crypto’s history,” Lu said. “The ETF will open the door for the world’s biggest institutional investors to enter the crypto space.”
Major regulatory progress stemming from examples like the Markets in Crypto-Assets regulations ( MiCA ) in Europe will also pave the way for the mass adoption of blockchain and crypto in the real world, according to Lu.
Anchorage Digital co-founder Diogo Mónica
Anchorage Digital co-founder Diogo Mónica said that crypto was at the beginning of an institutional-led bull market heading into 2024, with institutions becoming the driving force behind a cycle for the first time.
Mónica expects to see a broader range of institutional players enter the crypto ecosystem in the year ahead — including asset managers, hedge funds and RIAs.
“Rising institutional participation means market structure reform will be front and center,” Mónica said. “Applying traditional market structure standards — like separating custody and exchange functions — to crypto was once just an ideal; now, it is a prerequisite for the future of the ecosystem.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hinkal joins Mastercard Crypto Partner Program for private stablecoin payments
Chipmaker earnings growth cools to 136% as AI boom lifts S&P 500
Updated: Delta Air Lines warns that as fuel prices hit profits, airline capacity will tighten further
Delta Airlines lowers its annual profit forecast due to an expected increase in fuel costs to $6 billion. The CEO stated that ticket prices have risen by about 20% this year, with limited passenger resistance. Analysts warn that maintaining high ticket prices in 2027 is critical for improving profitability. The article includes comments from the earnings call and analyst remarks. Rajesh Kumar Singh/Shivansh Tiwary, Reuters Chicago, October 9 - Delta Airlines (DAL.N) said on Friday that, despite strong travel demand and rising ticket prices, soaring fuel costs have forced it to cut its 2026 profit expectations by nearly a quarter. So, the airline industry may need to further limit flight growth next year to protect profitability. This warning highlights the increasingly tough challenges faced by U.S. airlines. While strong demand and restricted seat growth have allowed airlines to significantly raise ticket prices and offset higher fuel costs, aggressively increasing flights to capture more demand may intensify competition, making it harder to maintain high fares and protect profits. Based in Atlanta, Delta now expects its annual fuel expenditure to increase by about $6 billion compared to last year—about $2 billion higher than its July forecast—due to the Iran war (link) causing global jet fuel prices to spike. Airlines worldwide are preparing for a prolonged fuel shock. Michael O’Leary, CEO of Ryanair Group RYA.I, said Thursday that high jet fuel prices could persist for another 12-18 months (link), adding more pressure on airlines to raise fares and control costs. https://www.reuters.com/graphics/AUTOMATED-20261008/A4A-JET-FUEL-DAILY-1Y/xmpjwjnmbvr/chart.png “In a high-cost environment, you can’t simply grow your way out,” Delta CEO Ed Bastian said on the earnings call. He noted that the industry has already taken steps to restrict capacity, but more measures will be needed next year to improve profitability. Bastian said Delta raised ticket prices about 20% this year, and passenger resistance has been limited. He is confident that even if fuel costs eventually drop, the high fares can still be maintained. Delta lowered its adjusted annual earnings per share forecast from the July prediction of $6.50-$7.50 to $5.10-$5.60. According to LSEG data, the midpoint of the new range is below analysts’ average expectation of $5.46. Third-quarter adjusted earnings per share were $1.72, four cents below analysts’ average forecast. In midday trading, shares of Delta dropped 1.7%, United Airlines UAL.O fell 1.4%, and both American Airlines AAL.O and Southwest Airlines LUV.N were down about 1%. Delta partly shields itself from rising fuel costs by owning a refinery outside Philadelphia (link), which is expected to generate over $700 million in profits this year. Even with this buffer, the airline expects its fourth-quarter fuel price to rise from $3.61 per gallon in Q3 to $4.25 per gallon. Delta forecasts adjusted fourth-quarter earnings per share to be between $1.15-$1.65, with the $1.40 midpoint roughly matching analysts’ average expectation of $1.39. Fare increases Government data shows that in the first eight months of 2026, U.S. airlines spent $42.9 billion on fuel, an increase of $13.2 billion compared to the same period last year despite slightly reduced consumption. According to the U.S. Bureau of Labor Statistics, strong demand and limited seat growth pushed average U.S. airline ticket prices up by about 25% year-on-year between April and August. https://www.reuters.com/graphics/USA-AIRLINES/FUEL/lbpgdnbzwvq/chart.png Analysts at Melius Research said that despite surging fuel costs, Delta’s ability to raise fares helps keep second-half profits roughly stable. Still, they warn that the company’s profit margin has struggled to improve over the years. “It is critical for margin improvement to maintain or raise fares in 2027,” they wrote in their research report. With industry capacity growth expected to accelerate in Q4, this challenge will likely become even tougher. Deutsche Bank analysts expect the proportion of fuel costs recouped through revenue measures to fall in Q4 and predict full recovery won’t happen until early 2027. Bastian noted that low industry returns are another reason for limiting capacity growth. He said Delta will be cautious with its 2027 capacity plan until the fuel price outlook becomes clearer. He added that international routes may account for a larger share of Delta’s capacity expansion compared to domestic routes. Currently, Delta says its premium cabins and corporate travel business remain strong, and its economy cabin business is gradually improving. With Q4 ticket bookings already exceeding 60%, Delta expects revenue to increase about 20% year-on-year, despite limited capacity growth. Executives said early booking trends for Q1 2027 are also encouraging. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several
AI and Quantum: Trump's $6 Billion Plan Could Also Impact Bitcoin
Crypto prices
More
