PANews reported on August 24 that crypto investment institution 1confirmation released its second quarter LP letter, and founder Nick Tomaino said that Ethereum's market value will exceed Bitcoin in the next five years. Currently, Bitcoin's market value is 4 times that of Ethereum, and both will continue to grow, but Ethereum will eventually surpass Bitcoin. Bitcoin has a clear narrative (digital gold), and institutions have now accepted and bought it. Ethereum is the most influential blockchain in the field in the past 5 years, but ETH is not yet well understood. Ethereum is scarce, generates income, and has real use cases. Because its market value is now significantly smaller than Bitcoin, Wall Street is able to own more. Wall Street is expected to continue to buy and vigorously promote Ethereum to the world in the next few years.
Prediction markets are the breakout use case of 2024, and the market size will grow 100x in the next few years. Polymarket is truly the best way to track elections and other world events, and is a product that really stood out this year. After the November election, I believe that news, culture, and sports markets will become even more popular tracks, and Polymarket is a great fit for any place where there is disagreement.
Expect DeFi and NFTs to return to their peak, while SocialFi and other new use cases that are unimaginable today will emerge through AppChains, L2s, and L3s. Non-custodial products that enable users to trade, borrow, lend, mint, and earn without trusting third parties will continue to grow. AppChains, L2s like Base, and AppChain-specific L3s will bring scalability and improved UX to cryptocurrencies, ultimately expanding the pie. L1 tribalism will disappear, and good developers will build where they can capture the most value and have the most control.
