In April 2024, during the Blockchain Life Forum, industry leaders gathered to discuss trends in the Web3 market, as well as predictions on when the next bull market would arrive. Now, in early 2025, the accuracy of their predictions and insights can be evaluated.
Andrei Grachev, Managing Partner of DWF Labs, shared his insights alongside Sergei Khitrov (Founder of Listing Help, Jets Capital, Blockchain Life), Danilo Carlucci (Founder and CEO of Morningstar Ventures), and Bhavik Patel (CIO of Arrington Capital).
Bull or Bear? A Look Into the Panellists’ Predictions
The panel’s bullish outlook on the market has largely proven accurate. Danilo Carlucci's prediction of continued growth following the Bitcoin halving, despite potential interim dips, was generally accurate. The market did experience a slowdown in late summer 2024, in tandem with a slowdown in TradFi markets.
However, the slowdown was followed by significant growth. Today’s Bitcoin price of over $100,000 validates this optimistic stance, especially in light of recent geopolitical developments such as the election of Donald Trump as President of the United States.
Andrei Grachev also shared his inputs on the bull market: he believed the market had completed its first wave of growth, but the lack of retail interest such as low Google search volume suggested room for further expansion. His prediction was also correct, as Google search volumes surged following the summer of 2024.
Crypto Trend Predictions and Outcomes: Gaming, RWA, and Institutionalisation
While the panelists correctly anticipated several trends, their emphasis on Web3 gaming as a major driver of mass adoption did not materialise as expected. Danilo’s hope for a “gaming summer” similar to the DeFi boom did not come to fruition, as well. Instead, the integration of AI technologies with gaming has emerged as a more prominent narrative in 2025.
The panel’s forecast regarding Real-World Asset (RWA) tokenisation has proven remarkably accurate. Grachev predicted that “real-world asset tokenisation will gain traction, especially with firms like BlackRock paving the way.” Circle’s recent acquisition of Hashnote, a $1.3 billion tokenised RWA firm, demonstrates the growing importance of this sector. This move aligns with the panellist’s observations about the vast potential of tokenising real estate and other traditional assets.
Grachev predicted that institutional adoption would become key for projects, sharing that “projects must also be relevant to the market and have a long-term vision that aligns with current trends, such as institutionalisation and retail-driven markets.” The approval of Bitcoin and Ether ETFs, and increasing institutional partnerships have validated this forecast.
2024 Predictions and 2025 Outlook
Looking back, while not all predictions materialised as expected, the panel’s overall market analysis provided valuable insights into the crypto ecosystem’s 2024 trends. The accuracy of their major predictions regarding institutional adoption, RWA tokenisation, and market trajectory demonstrates the maturing understanding of crypto market cycles among industry leaders.
One significant development that the panel didn’t anticipate was the rapid rise of AI Agents in the crypto space. While artificial intelligence was discussed, the specific impact of AI Agents on market infrastructure and trading systems wasn’t foreseen in April 2024.
The unexpected developments serve not as failures but as valuable lessons for future market analysis. It is important to remain open-minded as the crypto industry continues to evolve and to always monitor innovation and new use cases for blockchain technology.
Watch the panel’s discussion below:
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