Latest Crypto News (May 2024)

Table of Contents

1. Bitcoin and ETF Outlook

The Bitcoin halving scheduled for April 2024 is expected to boost the price of Bitcoin. In particular, the expected approval of a US spot Bitcoin ETF is expected to further increase Bitcoin's market value. According to Van Eck's prediction, Bitcoin may reach a new high by the end of the year(CoinMarketCap)

2. Ethereum and the Growth of Layer 2 Networks

Ethereum continues to show strong performance, with Layer 2 networks (e.g. Polygon, Arbitrum) expected to lead in terms of total value locked (TVL) and transaction volume. In particular, the proto-dunk sharding of EIP-4844 is scheduled for 2024, which is expected to significantly improve Ethereum's scalability.CoinMarketCap)

3. The NFT market is back

The NFT market is predicted to make a big comeback in 2024. Bitcoin-based NFT trading volumes are expected to increase, with Ethereum collectibles and new crypto games expected to drive the market. The battle for market share between centralized and decentralized exchanges (DEXs) is also in the spotlight, with advances in high-throughput chains and wallet technology influencing trends.CoinMarketCap) (CoinDesk)

4. Solana and other Layer 1 blockchains

Solana is set to continue growing in Q2023 4 and could rank among the top three blockchains by market cap and TVL. It has also been suggested that it could surpass Chainlink with the introduction of a new price oracle, Pyth.CoinMarketCap)

5. Corporate Cryptocurrency Holdings Increase

New accounting practices (FASB reporting) are predicted to increase corporate cryptocurrency holdings, which is expected to allow companies such as Coinbase to benefit from reporting Layer 2 blockchain revenuesCoinMarketCap)

6. GameFi Progress

In the blockchain gaming space, at least one game is predicted to surpass 1 million daily active users, signaling the maturity of the sector. Also, the rise in GameStop stock price could spark an altcoin rally, signaling the start of the 1 altcoin season.Cointelegraph) (CoinMarketCap)

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