A seasoned crypto VC and Netflix veteran, Vance Spencer, lists some milestones the blockchain industry may achieve in the next two years as the current bull market picks up steam. While his outlook seems bright, he also suggests being prepared for a “roller coaster.”
Ethereum ETF could be next, Vance Spencer opined
In 2024, Spencer told his 85,000 followers on X, “next” for us will be the fourth Bitcoin (BTC) halving, the approval of an Ethereum ETF, and the increasing institutional acceptance of digital assets. At this point, the crypto journey should generally be viewed as a marathon rather than a sprint.
Furthermore, the next 100 million active users of cryptocurrencies will come via Web3 gaming. Given that there is a 70% chance of a “pro-crypto” government taking office in the United States in 2025, regulatory antipathy may be on borrowed time.
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The market will go through a full cycle of rate lowering, with rates returning to 2-3% in the macroeconomic environment. In mid-2022, this metric was below 2% the previous time.
However, things won’t always be sunny on the cryptocurrency market; investors should brace themselves for wild rides over the next 24 months.
It should be mentioned that Spencer was nearly perfect in predicting when the Bitcoin ETF will be approved. In early July, he stated that they may be green-lit by the end of 2023.
$1 billion for DeFis: New milestone for 2024-2025
He emphasised in that July discussion that the adoption of the Bitcoin ETF would open the door for ETFs on other cryptocurrencies.
In addition to the ETF story, the VC investor anticipates promising midterm developments for the DeFi space. Revenues from DeFi protocols will increase “superlinearly” when the price of cryptocurrencies rises. At least two large DeFis will reach $1 billion in sales in the next 24 months.
In the past, he predicted that the “FAANG of DeFi” would arise, show steady cash flow, and be impervious to “vampire attacks.”
