VanEck Predicts Bitcoin and Ethereum Will Hit New Highs in 2024, BTC Layer 2 TVL to Reach 100k BTC

U.S. asset management firm VanEck predicts that the bullish trend in the cryptocurrency market will continue into next year.

U.S. asset management firm VanEck has predicted that the bullish trend in the cryptocurrency market will continue into next year.

On the 13th (local time), VanEck stated on its official X that "the bull market in the cryptocurrency sector will reach a mid-term peak in the first quarter of next year and then hit a new high in the fourth quarter," adding, "Bitcoin and Ethereum could exceed $180,000 and $6,000 respectively next year." Furthermore, Solana and Sui are expected to surpass $500 and $10 respectively by next year.

The potential impacts of President-elect Donald Trump's crypto-friendly stance were also highlighted.

VanEck mentioned, "First, the United States will adopt Bitcoin as a strategic reserve," and "the U.S. Securities and Exchange Commission (SEC) will approve various cryptocurrency spot ETFs with a new leader and include staking in Ethereum spot ETFs."

The market size of token securities (ST) is expected to reach over $50 billion. While issuance has been limited to permitted chains thus far, the value of ST is anticipated to soar next year as the U.S. Depository Trust & Clearing Corporation (DTCC) aims to connect public and private chains.

Regarding stablecoins, it was stated that "daily settlement volume is expected to reach $300 billion by the end of next year," and that "stablecoins will lead the payment revolution."

There is also a prediction that the sluggish non-fungible token (NFT) market will rebound to a trading volume of $30 billion next year, led by projects like Pudgy Penguins. Moreover, the total value locked (TVL) in Bitcoin Layer 2 is expected to reach 100,000 BTC.