TLDR
- Sustainable mining is expected to grow significantly as US authorities tighten regulations regarding blockchain mining.
- Airdrops become a standout feature of upcoming projects after success with Dymension (DYM) and Jupiter (JUP)
- Algotech (ALGT) grabs attention for cutting-edge algorithmic trading.
Despite only getting started, 2024 is already a monumental year for the crypto and blockchain industry. We’re starting to witness a few trends that will be highly impactful throughout the year. Sustainable mining, airdrops, and Layer 2 blockchains are starting to become popular in February 2024.
In the current landscape of sustainable energy consumption, blockchains are some of the most energy-intensive applications. Countries like the United States, Canada, and the United Kingdom have already announced initiatives to monitor how block mining companies are sourcing their energy.
According to the International Energy Agency, Bitcoin alone consumes over 100 TWh per year. For context, that number is equivalent to the annual energy consumption of the Netherlands. We’re starting to observe the trend of blockchain companies using sustainable energy means for mining operations.
In today’s article, we’ll explore some other leading that we’re likely to see in 2024. So, let’s get right into it.
4 Most Important Crypto Trends in 2024
While there are going to be a lot of important factors in the blockchain world, these trends are expected to make the biggest impact.
Airdrops
Companies giving out funds to users for early participation has been one of the most notable trends this year. Projects like Dymension (DYM) and Heroes of Mavia (MAVIA) have rewarded their communities with over $400 Million in airdrops. As the year progresses, we expect a lot more projects to reward early participation and community activities with airdrops.
Sustainable Mining
While blockchain technology has groundbreaking applications, the one criticism on proof-of-work (PoW) blockchains has been mining sustainability. There is an increasing push for mining companies to shift towards sustainable energy resources. Countries like the US are actively dictating the push by introducing new legislation and regulatory measures.
Layer 2 Rollups
Gas prices have always been a challenging aspect of blockchain technology. However, with Layer 2 rollups, blockchains are now able to handle a larger number of transactions without increasing the fee of transactions. Projects like Arbitrum, Immutable X, and Polgygon are making blockchain technology accessible. Moving onwards, we expect this trend to continue and costs to continue coming down.
Algorithm Trading
Another key trend that is expected to catch on further this year is advanced TradFi. Platforms like Algotech (ALGT) have caught major attention by allowing traders to access high-speed trading through advanced strategies. The project has caught the attention of the decentralized world by raising $1.1 Million within two days.
As we expect the year to go on, we’ll see TradFi platforms become increasingly mainstream. This is because of the high profit potential of algorithmic trading. Traders can use these platforms for breakout detection, hedging, and mean reversion.
Algotech (ALGT) Becomes Breakout Highlight With Community-Centric Tokenomics
While we’re excited to see all the major crypto trends play out, the one we’re the most excited about is Algotech (ALGT). The platform has managed to attract the attention of over 1,000 holders thanks to its community-centric roadmap. Project holders are expected to have governance rights, profit shares, and access to advanced trading strategies.
Furthermore, the platform’s presale Stage 1 is rapidly selling out at its current price of $0.04 and is expected to go significantly higher once the supply starts to squeeze. The platform is also grabbing attention due to its high volume capacity and fast latency.
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