Crypto Gambling Reinvention to AI-powered Innovations

The crypto trend will not be complete without shedding light on the crypto gaming market, whose borders cannot be avoided by blockchain technology. This technology is proving how important it is in the world of wagers, with the crypto-gambling market in focus. The funds should be held in trust within the impenetrable blockchain fortress.

The development in the crypto gambling market can only get more popular as blockchain technology adoption continues its adoption campaign. In essence, major challenges in crypto gambling are solved:

1. No more any governing party holding funds belonging to another party.
2. Manipulations of games are beaten down to the lowest minimum.
3. Campaign against localization of online gaming based on geographical location. Anyone with the desire and funds to pay for a session can join without the payment system being a barrier.

Bitcoin with its current value of $39,000 has been touted to finish in the zone of $80,000 by crypto analysts. Their prediction is based on many events and indicators, including:

• The approvals of spot Bitcoin ETF by SEC.
• Trading of Bitcoin ETFs on stock exchanges, with Bitcoin being held as the chief asset.
• Bitcoin halving exercise, which will be done in April 2024.
• Bitcoin halving is done every four years, (just like a FIFA World Cup). The last one was done in May 2020.

The halving reduces the reward package for Bitcoin miners by half. Historically, these halving events have correlated with price increases, as the reduced rate of new Bitcoin creation boosts scarcity, eventually driving up demand and prices.

This leading cryptocurrency exchange in the US, Coinbase, has established brand authority with investors over the years, due to its trading volume.

In 2023, Coinbase’s stock appreciated by 418%, and also witnessed 14% growth in revenue.

Reports stated that the company is set to double its previous year’s revenue in 2024.

The expected growth at Coinbase is closely based on two key catalysts:

1. The advent of the Bitcoin ETF
2. The soon-to-come bitcoin halving.

Both factors are expected to drive increased demand for bitcoin, which constitutes the majority of the platform’s trading volume. The factors are projected to create a demand for Bitcoin, which commands a huge chunk of Coinbase’s liquidity flow.

Ethereum’s growth has been steady, so far in 2024 and it has been supported by analysts. According to them, it may double in value. Many changes are expected in the ecosystem after an upgrade, EIP-4844 (to be done H2 2024), after which the transaction speed of ETH is expected to cross over 100,000 per transaction.

The now-scary transaction cost of the cryptocurrency is also projected to be reduced after this upgrade. So many crypto projects have been promoted by Ethereum through the following ways:

1. Offering smart contract functionality
2. Serving as a primary platform for the DeFi ecosystem
3. Facilitating the tokenization and sale of NFTs
4. Enabling the creation and issuance of new tokens.

Ethereum acts as a foundation for the development of various crypto projects. The reduced transaction costs are poised to further improve the platform’s appeal to its existing and new user base.

Expect an increase in on-chain innovations throughout 2024. In 2023, J.P. Morgan collaborated with blockchain firms to showcase a proof of concept enabling asset managers to tokenize funds on their choice blockchain. This approach allowed them to purchase and rebalance positions in tokenized assets across multiple chains.

This demonstration came at a time greeted with increasing interest in the traditional financial sector in crypto and blockchain technology.