During an interview on CNBC, Ripple's CEO stated that the cryptocurrency market has a chance to double its capitalization by the end of 2024. The reason for such high increases is said to be both the BTC halving and the introduction of ETH ETFs. Data from CoinMarketCap shows that the current market capitalization of digital assets is approximately USD 2.59 trillion.
Halving and ETH ETFs will drive the market? This is what Ripple's CEO says
In an interview with CNBC on Sunday, Bard Garlinghouse, acting CEO of Ripple, commented on the future of the digital asset market in the coming months. Ripple's CEO claims that the cryptocurrency market capitalization will double by the end of this year. Garlinghouse told CNBC that he is “very optimistic” about macroeconomic trends in the cryptocurrency industry. Ripple's CEO mentioned the emergence of bitcoin-based spot ETFs, which have brought “real” institutional investment in cryptocurrencies.
Garlinghouse also pointed to the bitcoin havling, which will take place in just 10 days. This recurring event has preceded cryptocurrency price rally in the past. Ripple's CEO believes that the halving, combined with the upcoming approval of Ethereum-based ETFs, will lead to the value of the entire cryptocurrency market exceeding USD 5 trillion by the end of this year.
Ripple's CEO counts on greater transparency of cryptocurrency regulations in the US
Another issue raised by Bard Garlinghous was hope regarding changes in cryptocurrency regulations in the USA. The head of Ripple hopes for greater transparency of legal regulations regarding the digital assets industry after the new administration takes office. These hopes are quite understandable, especially considering the fact that Ripple Labs has been engaged in a court dispute with the Securities and Exchange Commission since 2020. The next hearing in this never-ending story will take place this month.
It is also worth noting that Ripple does not pay attention to the penalties announced by the SEC (reportedly up to PLN 2 billion in fines and penalties), but is developing its services. Some time ago, the company announced that it was entering the stablecoin market. The planned stablecoin will be based on USD.
