Bitwise Analyst: Expect Bitcoin Price to Surge to $80,000 in 2024

Odaily News Bitwise senior research analyst Ryan Rasmussen predicts that the price of Bitcoin will soar to $80,000 in 2024, setting a new all-time high. Bitwise predicts that the amount of funds used for settlement by stablecoins will exceed payment giant Visa in 2024. As of the third quarter of 2023, Visa processed more than $9 trillion in payments, while stablecoin transaction volume exceeded $5 trillion. The market value of stablecoins has grown from almost zero nearly four years ago to $137 billion now, and it is expected to usher in more transaction volumes and usage scenarios in 2024. Additionally, asset management firm Van Eck predicts that the total stablecoin market capitalization will grow to $200 billion by the end of next year. Bitwise also predicts that with the expected launch of the Bitcoin spot ETF in early 2024 and the Bitcoin halving event in April, Bitcoin will usher in important catalysts for price growth. Bitcoin spot ETF assets under management are expected to reach $72 billion in the next five years. Ethereum will also improve significantly in 2024, with its revenue expected to grow 100% to $5 billion, while the EIP-4484 upgrade may reduce Ethereum mainnet gas fees to less than $0.01. In the traditional finance (TradFi) space, Coinbase is seen as the top contender to benefit the most in 2024, with Bitwise predicting that its revenue will grow 100% next year, exceeding Wall Street expectations by ten times. (Cointelegraph)
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Binance to List OURAUSDT USD-M Pre-IPO Perpetual Contract
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Reaching a record high, Hyperliquid's open interest hits $18 billion
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A newly created address bought 269,500 UNI worth $2.84 million
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Odaily News: According to market data, the Hong Kong stock AI application sector continued to decline in the afternoon, with Zhipu falling over 10%, Kingdee International dropping over 7%, and Meitu, MINIMAX-W, and others following the decline.
Robinhood ecosystem mainstream platforms and Meme coins rebound, musebook up 62.6% in 24 hours
Odaily reports that according to GMGN data, mainstream platforms and Meme coins in the Robinhood Chain ecosystem have rebounded, including:1. musebook's market cap is temporarily reported at $35.3 million, up 62.6% in 24 hours;2. MOO's market cap is temporarily reported at $17.9 million, up 47.3% in 24 hours;3. MEME's market cap is temporarily reported at $36.2 million, up 29.3% in 6 hours;4. BONER's market cap is temporarily reported at $53.3 million, up 22% in 24 hours;5. PONS's market cap is temporarily reported at $483 million, up 20.2% in 24 hours;6. AI's market cap is temporarily reported at $271 million, up 19.4% in 24 hours;7. CASHCAT's market cap is temporarily reported at $172 million, up 8.6% in 24 hours;8. ORBIO's market cap is temporarily reported at $70.5 million, up 5.5% in 24 hours.Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.
Hong Kong's New Digital Asset Licensing Regulations Expected to Pass in the Second Half of This Year or Early Next Year
Odaily News: Johnny Ng Kit-chong, a member of the Hong Kong Legislative Council (Technology and Innovation constituency), stated in a keynote speech at the 2026 Shanghai Blockchain International Week and the 12th Global Blockchain Summit that new licensing regulations covering virtual asset trading services, custody, and other businesses are expected to be submitted to the Legislative Council for discussion in the second half of this year, with the aim of passing them in the second half of this year or early next year. By then, Hong Kong's digital asset-related licensing requirements will be essentially clarified.Johnny Ng stated that the setback of the U.S. CLARITY Act is more beneficial to Hong Kong in the long run; currently, two licensed stablecoin issuers in Hong Kong are testing different application scenarios.
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