Bitwise Forecasts Five Crypto Unicorns, Including Circle and Kraken, to Go Public in 2025
Bitwise Asset Management, a leading crypto exchange-traded fund (ETF) issuer, has projected that at least five prominent crypto firms, often referred to as “crypto unicorns,” will go public in 2025.
The list includes stablecoin issuer Circle, cryptocurrency exchange Kraken, the “crypto bank” Anchorage Digital, blockchain analytics firm Chainalysis, and the crypto trading platform Figure.
These companies are anticipated to launch Initial Public Offerings (IPOs), marking their first sale of shares to the public, according to Bitwise’s “10 Crypto Predictions for 2025” report published on December 10.
Year of Crypto IPO
Matt Hougan, Bitwise’s Chief Investment Officer, and Ryan Rasmussen, its Head of Research, described 2025 as the “Year of the Crypto IPO.”
They attributed this forecast to growing investor demand, increasing institutional adoption, a favorable macroeconomic backdrop, and an improved regulatory environment.
In their report, Hougan and Rasmussen predict Bitcoin (BTC) could surpass $200,000 by the end of 2025.
They further speculate that Bitcoin might reach $500,000 if the United States adopts a strategic Bitcoin reserve as proposed by Senator Cynthia Lummis, with the government purchasing one million BTC over five years.
Even without such a reserve, they believe Bitcoin could eventually eclipse gold’s $18 trillion market capitalization, a milestone they anticipate by 2029.
Ethereum (ETH) is also expected to perform strongly, with its price potentially hitting $7,000 next year.
The surge would be driven by increased activity on Ethereum Layer 2 networks, inflows from spot Ether ETFs, and expanding use of tokenized assets and stablecoins.
Meanwhile, Solana (SOL) is predicted to rise significantly, with its price forecasted to reach $750, a 250% increase from its current valuation.
Bitwise expects the growth to stem from new high-profile projects launching on the network.
Bitwise foresees Coinbase’s stock price more than doubling to $700, positioning the company as the most valuable brokerage platform by overtaking Charles Schwab.
The duo attributes this growth to Coinbase’s diverse revenue streams, including its Ethereum Layer 2 Base, staking services, and stablecoin operations.
They also expect Coinbase to gain a spot in the S&P 500 index alongside MicroStrategy’s potential inclusion in the Nasdaq-100.
U.S. Spot Bitcoin ETFs to Grow Even More
Additionally, the analysts project substantial growth for U.S. spot Bitcoin ETFs, predicting inflows to surpass $33.6 billion from this year.
They emphasize that major wealth management firms, including Morgan Stanley and Bank of America, are likely to introduce crypto products to clients in 2025, further accelerating adoption.
Bitwise also highlights the rapid rise of tokenized real-world assets, predicting their value will grow from $13 billion to $50 billion in 2025.
They cite benefits such as instant settlement, 24/7 liquidity, and lower costs compared to traditional securitization.
In another noteworthy forecast, Bitwise anticipates an “even bigger meme coin mania” in 2025, driven by artificial intelligence (AI).
The influence of AI on meme coins has already been demonstrated, with AI-powered promotions helping obscure tokens like GOAT achieve billion-dollar market caps.
The report projects that the stablecoin market will double to $400 billion in 2025, aided by anticipated U.S. legislation that provides clearer regulatory guidelines.
Furthermore, the Department of Labor is expected to ease restrictions on including crypto in 401(k) retirement plans, opening new avenues for institutional capital.
The post Bitwise Forecasts Five Crypto Unicorns, Including Circle and Kraken, to Go Public in 2025 appeared first on Cryptonews.
Read More
The Fight for Democratized AI: Tech CEO Calls out Big Tech Tactics
Solana’s Raydium outperforms Uniswap as the top DEX in monthly trading volume for two months straight
Matt Kreiser, a research analyst at Messari, reported that Raydium had eclipsed Uniswap to become the top DEX by trading volume across all chains for two consecutive months. Raydium(~$125B) outperformed Uniswap (~$91B) in monthly DEX volume by almost 30%.
Raydium’s success began in October, largely attributed to the platform’s consistent capture of over 60% of Solana’s daily DEX volume. The growth of Raydium reflected Solana’s broader trend of surpassing Ethereum’s daily DEX volume. Solana’s 50% share of monthly DEX volume across all chains was nearly 175% more than Ethereum’s 18% share in November. Raydium’s V3 launch in March and memecoin trading in November catalyzed the DEX’s rise to the leading volume share on Solana.
Solana’s Raydium beats Ethereum’s Uniswap in DEX volume supremacy
In October, @RaydiumProtocol emerged as the leading DEX by trading volume across all chains.
This trend accelerated in November, with Raydium processing $124.6 billion in monthly volume, surpassing Uniswap's $90.5 billion by 30%. pic.twitter.com/fpmyaye7YC
— Messari (@MessariCrypto) December 10, 2024
A report published by Kreiser on December 10th revealed that Raydium flipped Uniswap to become the top DEX in daily and monthly trading volumes for two straight months. The report highlighted that Raydium’s journey to the top of DEX rankings began in October, which was marked by strategic developments and consistent growth.
Raydium became the number one DEX by volume across all chains in October, and the trend was accelerated in November when it outperformed Uniswap by roughly $34.5 billion. Kreiser’s report noted that the shift reflected Raydium’s strength against other Solana DEXs and Solana’s increasing global share of DEX volume, which stood at ~49% as of November.
“A key factor in Raydium’s ascent has been its continuous innovation…Solana’s high throughput and low transaction costs have made it an attractive alternative to Ethereum, which has faced challenges with high gas fees and network congestion.”
Raydium’s share of Solana DEX volume this year grew substantially from March onwards as the platform consistently recorded higher daily volume than its main competitor, Solana Orca. Q3 of 2024 marked Raydium’s first quarter, leading Solana’s daily DEX volume and its second straight quarter, topping the daily DEX volume since 2022. According to Kreiser, this led to a migration of users and liquidity to Solana-based DEXs like Raydium.
Memecoin trading and strategic upgrades catalyze Raydium’s success
Kreiser claimed that the surge in memecoin trading was the most significant recent driver of Raydium’s DEX volume. He added that Raydium’s synergy with Solana’s memecoin launchpad Pump.fun also amplified the platform’s rise to the top. Kreiser disclosed that $12K was added to Raydium’s standard AMM pool when meme tokens on Pump.fun reached a market cap of $69K to create a consistent flow of new liquidity and trading opportunities.
Raydium averaged nearly $2 billion in daily memecoin trading in the month of November following Trump’s re-election. The figure almost tripled the average memecoin trading volume in October before the elections. Memecoin trading volume as a percentage of Raydium’s total daily volume steadily increased from 2% in November 2023 to 65% in November 2024, highlighting the growing importance of memecoin trading on Raydium.
The platform’s March release of its V3 user interface in beta introduced a new portfolio page for users to view and manage liquidity positions. According to Kreiser, the liquidity page consolidated all Raydium’s liquidity pools in one place, supported exact swap amounts, and provided charts for all tradable token pairs. Raydium V3 fully launched in May alongside the revamped CPMM (constant product market maker) pools that supported the Token-2022 token program and included a built-in price oracle. Raydium’s CPMM pools offered uniform liquidity distribution and asset pricing from zero to infinity, just like its legacy standard AMM.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Read More
