Digital asset firm Gemini is introducing their 2024 Crypto Trend Report.
Before they explore the innovation and “promise” they see on the horizon, Gemini thinks it’s important to reflect on a volatile and challenging 2023.
As mentioned in a blog post by Gemini, reverberations from exchange and lending failures in 2022 and 2023 “diminished trust.”
According to the update from Gemini, innovation and progress stalled “due to a lack of regulatory clarity and wide-ranging enforcement actions.”
Gemini says that it is nearly “impossible to overstate the challenges the industry faced in 2023, and they were by no means immune to them.”
They were “deeply felt” at Gemini as well, the company claims.
While negative news cycles slowed growth and convinced some to leave the industry, their team at Gemini doubled down on their mission “to build the foundations that will support the next wave of crypto adoption.”
The firm added that we’ve all heard “the mottos of staying laser-focused and building during a bear market — their team took that to heart.”
Gemini says it watched first hand “as the team remained committed to delivering new products and features to our users around the globe.”
Their commitment has given them “an even deeper appreciation for the potential of crypto and blockchain technology to redefine the global financial landscape, and a fresh perspective on how Gemini can be a uniquely positive force in ushering in the next era of adoption.”
As Gemini looks to 2024 and beyond, there are five “emerging trends” that make them particularly optimistic about the future of crypto:
- the potential approval of a spot bitcoin ETF in the US and
- the Bitcoin halving, which can both have huge implications on crypto market dynamics,
- the powerful intersection of AI and blockchain
- the importance of improved security adaptations for Web3, and
- regulatory clarity in jurisdictions around the world, that can bring renewed confidence and user growth.
Gemini concluded:
“We are more confident today about the potential for crypto than ever. We look forward to working with everyone in our industry to continue to build trust in this new frontier and realize its ultimate promise of unlocking the next era of financial, creative, and personal freedom. We’re here. For good.”