As we navigate through this new bull market, Vance Spencer, a seasoned crypto VC and former Netflix alum, provides insights into the potential milestones that the blockchain sector could achieve in the next two years. While his outlook may seem optimistic, he also advises everyone to brace themselves for a “roller coaster” ride in the crypto industry.
In a recent social media post, Spencer, who boasts a following of 85,000 on X, expressed his belief that the approval of an Ethereum ETF, the fourth Bitcoin halving, and the increasing institutional adoption of digital assets are on the horizon for 2024. However, he emphasizes that the journey in the crypto space should be viewed as a marathon, not a sprint.
Furthermore, Spencer also highlights the potential impact of Web3 games, predicting that they will bring in the next 100 million active users to the cryptocurrency scene by 2024. Additionally, he suggests that the regulatory landscape may become more favorable for crypto, with a 70% chance of a “pro-crypto” administration in the U.S. by 2025.
From a macroeconomic standpoint, Spencer anticipates an entire rate cutting cycle in the market, with rates reverting back to 2-3%. However, he warns that despite these positive developments, the crypto market will still face its share of challenges, urging industry participants to prepare for fluctuations in the next 24 months.
Notably, Spencer’s track record includes accurately predicting the potential approval of Bitcoin ETFs, having previously suggested that they could be given the green light by the end of 2023.
Looking ahead to the DeFi sector, Spencer foresees a significant milestone as he predicts that at least two major DeFi protocols will surpass $1 billion in revenue in the next 24 months, as crypto prices rise and DeFi revenues grow “superlinearly.” He also previously forecasted the emergence of the “FAANG of DeFi,” which would exhibit sustainable cash flow and resilience against “vampire attacks.”
In conclusion, Spencer’s insights provide valuable perspectives on the potential developments and challenges that lie ahead in the crypto industry. It is clear that while there are significant opportunities on the horizon, it is essential for industry participants to remain vigilant and adaptable as the sector continues to evolve.
