In her forecast, Long stated that the cryptocurrency market will no longer be seen as speculative in a negative sense by 2024. She believes that the industry has matured significantly, and that cryptocurrency services can now be offered on a large scale. This could result in the decentralized finance (DeFi) sector complying with regulatory requirements.
Long also expressed confidence that the industry will regain the trust of governments, following recent controversies involving exchanges like FTX and Binance. Adhering to regulations set by various authorities will be crucial, and she urged the industry to develop tools to ensure that the DeFi sector remains compliant.
Furthermore, Long suggested that major financial institutions such as BlackRock, Fidelity, and Visa will continue integrating blockchain-based payment solutions in 2024. The appeal of low fees and instant transfers makes cryptocurrencies attractive for traditional financial institutions, who will incorporate them into their payment and settlement processes. Additionally, traditional companies will increasingly rely on their cryptocurrency partners, including Ripple, to manage operations and leverage the capabilities of blockchain technology.
Last year, Long expressed confidence that Ripple would be able to scale its business even during an extended crypto winter. Moreover, in November, the Central Bank of Georgia chose Ripple as their partner to develop and launch a state digital currency.