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2023 has been a fantastic year for Middle Class Capital, so hold on tight for some wild predictions for 2024. Before that, let’s have a recap of what our portfolio companies have achieved this year. Steer went live across 14 chains and is already managing 300 pools, reaching the first big milestone of 5M TVL and native integrations with sushiswap and quickswap. Poolshark launched $FIN with an extremely successful bond and is already handling over $500k daily volume on its AMM....

Dereek The bottom is in COIN gonna outperform BTC Shangai is gonna cause a 2-3 day caos where the majority of liquid staking derivatives die and a couple grow their market share even more. The net flow of staked eth is gonna be positive (more deposit than withdraws) Maker is gonna baloon up in revenue but the token will keep underperforming US Core CPI peaked and will come down. but won’t go under 4% wstETH contract will hold more than 50% of all stETH we get more than one Gamefi hit in the normie world More widespread NFT adoption under the digital collectibles name Serendipity Gamefi continues to be trash until all crypto notions are abstracted (not happening 2023) Artblocks keeps making more random bullshit: it sells anyway BTC makes another low, but never beyond 12k Crypto continues to be integrated into high-profile websites/services (like reddit); market doesn’t really care beyond temporary pumps in respective coins First modular blockchain stacks with mainnet release; creates temporary ‘modular blockchain’ season stETH plebs achieve sweet, sweet freedom; reflect that locking up your funds for months has a terrible opportunity cost indeed Portugal implements legislation to tax crypto, with mandatory reporting of exchanges to the state for any balances over X minimum amount Trading gets noticeably harder; those without dedication are squeezed out and capitulate Target Crypto overall - less volatile, slowly ranging, but might go lower before going higher....

In the recent weeks we’ve seen a public purge of overleveraged and underprepared Bitcoin miners. Included in this wash out are some of the largest names in the Bitcoin mining industry such as Core Scientific, Compute North, Iris Energy, Argo, Poolin, and Compass Mining, among others both named and unknown. This is due to the increase of Bitcoin’s hashrate and mining difficulty paired with escalating energy costs, causing a steep drop in miner revenues....

The glue that holds a project together is its community. Memes, community projects and die-hard believers are all good signs of a strong community. This is especially important for projects that have “no intrinsic value” and are mostly fueled about speculation, like NFT pfp collections or meme coins. Having a strong community is a value of itself, and it also means a big percentage of the supply is basically locked forever, held by people that will never sell....