No one can dispute that 2024 has been a groundbreaking year for cryptocurrencies. BTC and ETH exchange-traded funds have been launched, BlackRock has taken the lead in Bitcoin adoption, a president who supports cryptocurrency has been elected, and BTC has shattered a 15-year historical high—these are just a few of the significant events. However, Marcin Kazmerczak believes that the pivotal moment for cryptocurrencies is still ahead.
DeFi is about to soar
DeFi, much like traditional finance, is becoming increasingly complex in terms of product offerings. We have already witnessed this trend with the emergence of products like Pendle, Ethena, EtherFi, and Lombard. In 2025, the use of DeFi is expected to explode with the introduction of products such as options, swaps, and other derivatives, including the interest rate swap market, which has a volume of $465.9 trillion in TradFi.
New institutional players are actively entering the crypto ecosystem, creating and developing a new category—on-chain finance. Their involvement now goes beyond just investing in "blue-chip" cryptocurrencies like BTC and ETH. They are actively enhancing the online market by utilizing modern tools such as lending platforms and liquidity provision with digital assets backed by real-world assets (RWA), particularly stablecoins. Companies like Securitize and BlackRock are setting new standards in this area.
Stablecoins will continue to grow
Stablecoins are not just another cryptocurrency; they are poised to become the digital backbone of the global financial system. Tether is the most profitable cryptocurrency company, reporting a profit of $5.2 billion in the first half of 2024, even surpassing BlackRock.