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.

Limitless has partnered with Orange Finance and will soon launch its Beta.

Velo has gained a lot of popularity, to the point where our Twitter/X feeds are full of Velo screenshots from fellow traders! Velo also has recently acquired Zoomer News.

Our prediction as MCC is that they will keep building and shipping amazing stuff in the next year!

Now, for our more inaccurate predictions:

casa

  • We will not see BTC below 25k ever again
  • Depin projects will be the #1 source for bringing new entrants to crypto. (WIFI, HNT)
  • DeScience narrative will be the most speculative and hated pump in 2024-2025
  • AI x Crypto is here to stay
  • Social Fi will get a rerating
  • Beam and Ronin will be above GALA and IMX in every metric by the end of 2024.
  • BASE chain will get its own run and all coins on BASE will get a rerating.

Cozy

BTC trades below $30,000 by April, and is over $100k by end of 2024

dbc

  • We’ll keep talking about AI and crypto. At least one AI coin will be top 20.
  • NFTFi will have its season.
  • SocialFi up. Farcaster and Lens will be used a lot more. People will cope a lot for not accumulating enough FT points. We might see one more token drop from a socialfi project besides FT.
  • We’ll finally see some higher quality gamefi projects.
  • Starknet will be big.
  • I’ll hopefully learn what “snark” is.

Dereek

  • At least 1 AI proj in the top 10 (prob WLD)
  • More than 1 DePin proj in the top 30
  • Bottom of ETH/BTC is in
  • L1/ETH pair continue to outperform
  • Blast and Eigenlayer both over 5b fdv at launch
  • Points system keep being the most prominent distribution
  • Onchain Perp Dexes keep gaining marketshare over Cexs and one of them reaches top 10 by open interest/daily volume
  • Toncoin is a surpising hit being pumped quickly by normal users
  • ETH will show everyone why it’s #2 and pump into its ETF hype, recovering the ground it lost until the end of 2023
  • AI will still be big and have new hype thanks to the big VC projects launching in ‘24
  • We won’t be anywhere bullish enough if the etf goes through
  • GameFi won’t be a thing still, but some little ponzi games will explode and do big numbers (like axie)
  • A brand new memecoin will reach top 10
  • We will have a new criminal main character (we will discover in bear that he is tho)
  • Ordinal NFTs will have a huge boom as the tech and tooling get better with less friction for the user
  • USDT mcap to reach 130b by end of ‘24
  • More DEFI hacks, one will reach top 3 in size

ri0t

Steve Aoki gonna buy the top of SOL NFTs, my only prediction. Otherwise I’ll try to think less and just 🦧

shaki

  • Bitcoin ETF plus the halving means supply reduction and demand increase. Both are not sell the news events and lead to $100k BTC
  • Solana season continues and the next wave of normie adoption takes place there. Tensor becomes THE leading NFT Marketplace across all chains. The liquidation of FTX holdings causes a big retrace that leads to many panic selling before new SOL ATH
  • Blast launch goes unexpectedly well and TVL is stickier than people think. Blur/blast team launches a new dapp on top of Blast that has yet another points mechanism
  • AI coins underperform as global attention span on AI runs out of steam
  • Depin & Desci become more popular, but remain niche
  • zk season is a thing, mostly ignited by starknet dropping the long awaited token

Shea

2021 cycle all over again for eth/l1s (but adding ecosystem tokens into the mix time)

If eth pumps and on chain activity goes up again, we’re gonna keep having L1, L2 cycles as long as eth scaling isn’t solved properly (via crosschain apps, sharding or whatever)

Newcomers wont pay 100$ for uniswap trades, OGs gonna keep creating narratives for other options to get their EL

Shower

Bitcoin still reigns supreme and Solana falls into obscurity again. FTX/Alameda somehow majorly fuck up Solana by accident.

target

  • ETH will outperform BTC/SOL (not financial advice, I have no fking idea, don’t @ me later)
  • SOL eco gets bigger, some new problems with the influx of people appears, but nobody cares that much, more mobile apps appearing connected to Saga phone, each owner gets 5-6 digits of airdrops, Saga 2.0 ann, presale gets sold out in an hour
  • shitcoins traded against staked/restaked coins bubble, people holding most of their nw in staked/restaked stuff (overall expecting this to become a trend in future because “inflation is bad”)
  • bigger AI bubble, Worldcoin top 20 mcap
  • most of A/AA gamefi/P2E are still generic/mid af, but people will play/bot them for money, maybe gamefi bubble because it won’t make any sense, also there might be some interesting onchain indie game
  • more absurd/nonsense pumps out of nowhere
  • change in NFT fundraising/distro meta, so those projects will stop being WL farms and soft rugs (example: analyzoor one nft infinite bid)
  • socialFi still cooking, FT getting vampire attacked by project with actual token
  • OS, Metamask airdrops, mostly because getting vampired by projects with tokens (OS already got hit, gonna try to comeback)
  • DEXes starting to get slapped by SEC and/or implementing proper KYC

TopTick

Will the ETFs see big inflows? Answering that will tell you whether bull or bear predictions prove true in 2024. I’m a bulliever:

Eigenlayer is the largest launch by market cap of the year and restaking is the “third thing” (the first being ICOs in the 2017 cycle, the second being NFTs in the 2021 cycle) that finally drives renewed on chain interest in ETH this cycle through rehypothecation yields and airdrops of new chains borrowing ETH’s security.

The AI productivity boom is real and ushers in a tradfi bull market larger than the dotcom bubble that will begin in earnest next year. With limited direct investment avenues in stocks, AI coins play an increasing role in the speculative mania as more tradfi dollars find their way into the crypto ecosystem with the bitcoin and then ETH ETFs as the first stop to pump liquidity in. The FORT index (FIL OLAS RNDR TAO) is retired as hundreds of legit new crypto AI projects launch.

Friend Tech’s not dead, socialfi is here to stay, and FT points go to $1. Whether or not FT pulls it off, their combined innovation of privvy account abstraction and progressive web apps have shown that non crypto natives can easily sign up for crypto apps. A project employs these features to onboard a million users with Solana as the blockchain backend.

Trill

  • Election year uncertainty leading to mostly sideways price action across all markets
  • Modest yet hopeful gains in NFT markets; artists push boundaries of on-chain and/or generative art as it continues to get more technically impressive
  • The war on self-custody begins in earnest
  • LVMH acquires at least one web3 company

luis

  • BTC ETF approval leaves a narrative gap in Crypto, which coincides with traditional market pullback. We get a decent selloff in Q1, followed by chop into election. First half of the year is for accumulation;
  • Even with chop, activity on-chain stays elevated and “ETH as yield bearing asset” becomes the main narrative that feeds into TradFi to coincide with ETH ETF approval. ETH outperforms BTC and SOL second half of the year;
  • Optimism stack gains further popularity and at least one superchain becomes a staple crypto product. Base season onboards normies into consumer crypto, and SNX, AEVO end up competing with CEXs;