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VanEck's Crypto Predictions for 2023

VanEck, a leading ETF and mutual fund manager, has released 11 cryptocurrency predictions for 2023.

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VanEck Logo

These predictions cover many topics, including price developments, tokenization, and other industry trends.

Bitcoin Price Predictions

According to VanEck's predictions, Bitcoin will test $10-12K in Q1, marking the low point of the current crypto winter. However, the fund manager expects Bitcoin to rise to $30,000 by the second half of 2023, driven by lower inflation, easing energy concerns, and potential improvements in the Ukraine situation.

Tokenization and Adoption by Financial Institutions

VanEck predicts financial institutions will tokenize over $10 billion in off-chain assets in 2023. The fund manager also expects Brazil to emerge as one of the most crypto-friendly nations in the world, with tokenization of a portion of its sovereign debt offerings on the blockchain.

Twitter's Payment Offerings and Competitor to Venmo and Cash App

According to VanEck's predictions, Twitter will expand its payment offerings with state money licenses, positioning itself as a direct competitor to popular payment apps Venmo and Cash App.

Oil-Exporting Nation Adding Bitcoin and Digital Assets to Sovereign Wealth Fund

VanEck predicts that a nation heavily dependent on oil exports will announce the addition of Bitcoin and other digital assets to its sovereign wealth fund in 2023.

The Outcome of Ripple vs. SEC Lawsuit

VanEck's predictions suggest Ripple will lose the ongoing lawsuit with the SEC. The fund manager also expects Gary Gensler to leave the SEC as his proposed legislation lacks widespread support.

The Rise in Web3 Monthly Gamers and Ethereum Enabling Beacon Chain Withdrawals

VanEck predicts that the total number of web3 monthly gamers will increase from 2 million to 20 million in 2023. Additionally, the fund manager expects Ethereum to enable withdrawals from the beacon chain.