Gabor Gurbacs highlights the transformative shifts in the blockchain landscape in 2024, driven by recent developments in the cryptocurrency space, significantly reshaping the dynamics of the industry.Gabor Gurbacs, an advisor at VanEck, shared insights into the dynamic landscape of the blockchain industry in 2024, emphasizing the substantial transformations brought about by recent developments in the crypto sphere.He remarked, "The current endeavors exhibit a marked departure from the conventional narratives of yesteryears, where discussions often revolved around generic 'blockchain this' and 'blockchain that' themes."Gurbacs, expressing his views on X (previously Twitter), asserted that there exists a prevailing tendency to underestimate the potential and investment opportunities within the crypto sector. Drawing parallels to historical skepticism towards ETFs, he highlighted the notable shift in perception, exemplified by the now-thriving $9 trillion ETF industry.In drawing an analogy, he suggested that the crypto industry might be on a similar trajectory, particularly in light of the recent green light given by the US Securities and Exchange Commission to 11 spot Bitcoin ETF applications."Substantial efforts and capital are entering this realm, with a focus shifting away from mere discussions about blockchains to a broader reconsideration and reconstruction of capital markets," he articulated. The evolution in media coverage, according to Gurbacs, signifies a departure from the erstwhile emphasis on blockchain capabilities:"The contemporary initiatives significantly deviate from the outdated narratives of 'blockchain this' and 'blockchain that' stories."For enterprises venturing into the realm of Bitcoin products, the horizon holds promising prospects. Grayscale Investments, set to make a significant move on January 12, is poised to file for a covered call Bitcoin ETF. This innovative ETF will empower investors to derive income from options associated with the Grayscale Bitcoin Trust (GBTC).Contrary to skeptics challenging BlackRock CEO Larry Fink's recent statements on tokenization, Gabor Gurbacs offers a counterargument. He contends that 97% of those mocking Fink fail to grasp the profound issues plaguing current capital markets.Tokenization, as the digital representation of physical assets on the blockchain, brings about advantages such as heightened transparency and simplified access to fractionalized assets through blockchain-enabled ownership division.Fink envisions a future where ETFs revolutionize every asset class, culminating in the comprehensive tokenization of assets. Gurbacs, however, suggests that the current complacency in capital markets might face disruption due to the emergence of spot Bitcoin ETFs and the potential for others in the future."People haven't seriously contemplated the necessary evolution of modern capital markets for decades," asserts Gurbacs, indicating a need for reevaluation.The crypto industry finds itself at the crossroads of speculation regarding the next narrative. In 2023, the landscape shifted towards AI-focused crypto, gaining prominence with the advent of generative AI chatbots like OpenAI's ChatGPT and Google's Bard.Binance, recognizing the momentum, highlighted the success of AI crypto tokens in 2023, observing a surge in interest as evidenced by Google search trends and the remarkable appreciation of AI-related token prices.#VanEck #Blockchain2024

#BTC More than hundred million Shiba Inu meme coins have been incinerated within past seven days, but there's a big catchDisclaimer: 🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. According to recent data published by the Shibburn #CryptoWallet tracker, the #ShibaInuCommunity has disposed of a substantial number of meme coins within the last week. Still, there is a big negative factor showing up in this metric this time.In the meantime, the $SHIB price has managed to stage a small recovery after the price plunge on Thursday.100+ million Shiba Inu burned, but there's a catchThe aforementioned tracking platform reported that within the last week, the Shiba Inu #community has succeeded in burning a total of 136,004,861 SHIB. Still, the weekly burn rate has demonstrated a significant plunge, dropping by 98.56% compared to the previous week. Back then, almost 10 billion SHIB were sent to unspendable wallets and locked there for good.Those 9.5 billion SHIB were burned by the Shiba Inu development team as they transferred another chunk of SHIB converted from Shibarium gas fees in BONE to a dead-end wallet.That was the fourth massive burn made by the Shiba Inu team, according to the plan created by their lead developer known under the alias Shytoshi Kusama. Prior to that, in November and December, they cumulatively burned slightly more than 36 billion SHIB.Shibarium activity remains low, here’s what’s happeningThe Shibariumscan explorer has been showing an abnormal plunge in activity. Since the final days of December and 2023, the daily count of transfers on the layer-2 #Blockchain2024 has been in decline, dropping from 7.52 million on Dec. 29 to the “bottom” of 1.16 million on Jan. 13.By now, this metric has increased a little, and for the past five days it has been holding above the two million transaction level.The total count of transfers on the network currently stands at 294,766,260 with the amount of connected wallets totaling 1,342,313. In December, Shibarium saw tens of millions of new transactions performed per day. However, currently, on-chain activity on it is down.The official marketing lead of the Shiba Inu team, Lucie, tweeted yesterday that developers are now busy implementing various upgrades and are adding new developments to Shibarium. She warned that users may face some issues but, she added, “larger changes require additional time and thorough testing.”

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The year 2024 marks a significant milestone in the evolution of blockchain technology, with Layer 2 networks and the Non-Fungible Token (NFT) market experiencing unprecedented growth. This surge is largely attributed to the Ethereum Improvement Proposal (EIP)-4844, which aims to enhance scalability, reduce transaction costs, and broaden the adoption of blockchain technology. This article delves into the key Layer 2 projects driving this growth and the rising interest in NFT markets, signaling a pivotal shift towards more efficient and user-friendly blockchain experiences.
Key Layer 2 Projects
Optimism: As a leading Layer 2 solution for Ethereum, Optimism uses rollup technology to increase transaction efficiency and scalability. It has introduced a Superchain platform that combines multiple OP Stack chains with the OP Mainnet, enhancing scalable and decentralized computing globally.Immutable X: Focused on NFT projects, Immutable X offers a zero-gas fee solution that allows for the creation, trading, and collection of NFTs within its marketplace. By utilizing zk-Rollup technology, it ensures scalability and security for users and developers.Shibarium by Shiba Inu: Transitioning from a meme coin to a more substantial DeFi ecosystem, Shibarium aims to offer a range of DApps, including NFT collections and a decentralized exchange (DEX), backed by a strong community.Arbitrum: Has shown significant growth in transaction volumes and total value locked (TVL), indicating its increasing adoption and performance within the DeFi space. Arbitrum's scalable and cost-effective solutions have led it to surpass other networks in DEX trading volume at times, underscoring its competitive edge.Blast: Notable for its rapid ascent in the Layer 2 ecosystem, Blast leverages Optimistic Rollups to achieve remarkable scalability and reduce gas fees. Its innovative approach has attracted significant TVL, reflecting the network's growing adoption.Mantle: Distinguished by its integration of optimistic rollup technology and a unique data availability solution, Mantle has quickly become a significant player, offering low-cost transactions and high efficiency.
Challenges and Opportunities

Despite their advantages, Layer 2 solutions face challenges such as ecosystem fragmentation and the complexity of bridging between networks. However, standardization efforts and technological advancements, particularly in ZK technology, are underway to address these issues and enhance network interoperability and privacy.
Market Growth
Ethereum's Layer 2 networks have witnessed a substantial increase in transaction volume, surging by 91% since the start of the year. This growth reflects the rising adoption of Layer 2 solutions, fueled by enhancements in scalability and reductions in transaction costs. The eagerly awaited Dencun upgrade is expected to further bolster this adoption by optimizing gas fees and storage efficiency.
Price Predictions

Based on the recent information and market dynamics, here are the enhanced price predictions for the mentioned tokens:
Optimism ( $OP ): The current price of Optimism is approximately $3.20​ (CoinGecko)​​ (CoinDesk)​. Considering the growing adoption of Layer 2 solutions and the recent developments in the Optimism ecosystem, the price of OP could potentially reach around $3.75 to $4.00 in the near term, especially with the increasing Total Value Locked (TVL) and the number of protocols on the network​ (CoinMarketCap)​.
Immutable X ( $IMX ): Although the current price was not specified, Immutable X has been focusing on NFT projects with zero-gas fees, which is a significant advantage in the current market. Assuming a positive trend in the NFT market and increased adoption of Immutable X, a cautious yet optimistic estimate would place its short-term price potential at an increase of approximately 15-20% from its last known price.
Shibarium ( BONE ): As Shibarium transitions towards a more robust DeFi ecosystem with DApps and NFT collections, and given the strong community backing, a significant increase in price could be anticipated. However, without the current price, it's challenging to provide a specific prediction. A conservative estimate would suggest a potential increase of 20-30% in the short term, assuming positive developments in the ecosystem.
Arbitrum ( $ARB ): Unfortunately, there was no specific token price available for Arbitrum. As it continues to grow in transaction volumes and TVL, and if it maintains its competitive edge in the DeFi space, the price could see a positive trajectory. However, a precise prediction cannot be provided without the current price information.
Mantle (MNT): Mantle's current price is approximately $1.20​ (CoinGecko)​. Given its innovative technology and potential impact on transaction costs and efficiency, Mantle's price could see an uptrend. A potential increase to around $1.40 to $1.50 could be expected in the near term, assuming positive market conditions and continued adoption.
These predictions are based on current market trends and developments in each project's ecosystem. It's important to note that the cryptocurrency market is highly volatile, and prices can change rapidly. Always do your own research and consider multiple factors before making any investment decisions.
The dynamic growth of Layer 2 networks and the resurgence of the NFT market in 2024 underscore the continued innovation and adoption in the blockchain space. With the implementation of EIP-4844 and the development of groundbreaking Layer 2 solutions, the Ethereum ecosystem is poised for significant expansion, offering enhanced scalability, security, and user experience. This evolution signals a bright future for both developers and users, with Layer 2 networks playing a crucial role in the widespread adoption of blockchain technology.
References
BeInCrypto. (2024). Layer-2 Crypto Projects for 2024: The Top Picks. BeInCrypto.CoinDesk. (2024). Arbitrum Surges Ahead as Ethereum’s Layer 2 Landscape Takes Shape. CoinDesk.KuCoin. (2024). Top Ethereum Layer-2 Crypto Projects to Know in 2024. KuCoin.Cointelegraph. (2024). Hashing It Out: 2024 narratives — Layer-2 networks. Cointelegraph.The Crypto Times. (2024). Ethereum's Layer-2 Networks Surge 91% in Transaction Volume. The Crypto Times.
Disclaimer: This article is for informational purposes only and is not intended as financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions.
#Layer2 #NFT #Blockchain2024 #BONE #Mantle