Bankless 2024 Predictions: EigenLayer TVL to Surpass $10 Billion, Ethereum to Burn 1 Million ETH

David Hoffman's specific predictions are as follows:

EigenLayer's TVL Surpasses $10 Billion

My first prediction is that EigenLayer's momentum will continue to rise throughout 2024. I've been emphasizing this repeatedly, and as an advisor to the project (disclosed by Bankless), you might be skeptical of my enthusiasm, but you shouldn't be.

EigenLayer's mainnet is scheduled to launch in either the second or third quarter of 2024, with billions of dollars' worth of ETH to be deposited into its staking contracts. Following this, AVS services will roll out, commencing the increase in ETH yields. Initially, the added ETH yields may seem insignificant, but they are anticipated to steadily rise over EigenLayer's initial 24 months. Prediction: If EigenLayer conducts a token airdrop in 2024, it will be the largest-ever airdrop in terms of funds distributed to users.

1 Million ETH Burned

In the 461 days since the merge, Ethereum has burned 335,000 ETH.

In 2024, Ethereum is expected to burn 1 million ETH. Amid the fervor of the bull market, we have just barely scratched the surface of the full impact of PoS + EIP1559. The furnace is going to get very hot.

Over $4 Billion Airdropped in 2024

StarkNet, LayerZero, and Zksync airdrops to users could potentially reach $2 billion, excluding EigenLayer, which itself might offer airdrops worth $2 billion.

The criteria for receiving airdrops will become more specific and diverse, eventually evolving into a large-scale gambling game during the bull market of 2024-25. Airdrops will also be the most perilous and toxic elements of this cycle. New entrants and quick followers will roll out cheap airdrops to gain instant liquidity.

ETH L2 Narrative Shifts Towards Optimized VM and Parallel EVM

In 2024, several Layer 1 (L1) solutions focused on virtual machine (VM) optimization are expected to enter the stage, including Monad and Sei. Eclipse plans to introduce SVM to Ethereum's mainnet in 2024.

The narrative surrounding L2 VMs will shift from the Ethereum Virtual Machine (EVM) to more performance-optimized VMs. The Ethereum community will request Monad to transition into an L2 solution, but Monad is likely to decline this request.

What are the crucial matters to keep an eye on？ The progress of Arbitrum, Optimism, and other EVM chains in terms of virtual machine optimization and how far they are from departing from the EVM.

Solana Deserves Attention

Solana has recently entered the top 5 in market capitalization, drawing considerable attention as everyone watches to see if it can fulfill its supporters' belief: becoming the most likely place to host groundbreaking consumer-facing crypto applications in the upcoming bullish market.

Solana will need to develop novel applications in the

cryptocurrency

space that have never been seen before, leveraging the unique attributes provided by its network. Presently, DePIN appears to be a standout contender.