The Block has released its annual predictions for the crypto market in 2024, identifying five key themes that will shape the industry: 1. The First Year of Bitcoin Spot ETFs in the US US Bitcoin spot exchange-traded funds (ETFs) have had a successful launch, with the largest one, BlackRock's IBIT, seeing inflows of $37 billion and only 10 days of outflows this year. 2. Stablecoin Supply Reaches All-Time High The circulating supply of dollar-pegged stablecoins has hit a new all-time high above $200 billion. This is the highest level since April 2022, before the collapse of Terra, Celsius, and FTX. 3. Solana Drives DeFi Fee Surge DeFi fees surged in late 2023, with Solana, Raydium, Zeta Markets, and Parrot Finance leading the charge. 4. SocialFi's Rise and Fall Once-hyped Web3 social media friendtech saw its trading volume collapse this year. Some outlets claim the trend has effectively ended, although platforms dispute this. 5. Political Betting Booms on Polymarket Polymarket had one of its strongest years for political betting, with USDC-based markets surging ahead of the US midterm elections in November.

#BTC #ETF