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eGirl Capital: 2023 Recap and 2024 Outlook

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How do eGirls, who are popular among KOLs, view 2024?

Original Title: "UPDATES FROM OUR 2D HEDGEFUND AND 2024 PREDICTIONS"

Original Source: eGirl Capital

Translated by: 0x26

Editor's Note:

eGirl Capital is a magical crypto capital that is not the kind of institution that always appears in financing PR releases, but the projects it participates in are well-known projects, such as Arbitrum, Blur, Blast, Celestia, Lido, Gearbox, and Gem.

Unlike traditional VC, eGirl, which originated in crypto and is loyal to crypto, is extremely active on social media. In fact, almost everyone in eGirl is a KOL, involved in secondary market contract trading, narrative trading, meme masters and shitposts, and even crypto project founders. Some of the better-known members include DegenSpartan, Loomdart, CL, and hedgedhog.

The loose but well-rounded characters of eGirl are like superheroes in the Marvel Universe. Even the outlook of each member in this article for 2024 is completely different. Through the outlook of different eGirl members, we can understand the most authentic views of these KOLs with different strengths on the 2024 crypto market.

With the arrival of Christmas, it is a pleasure to summarize the progress of eGirl Capital in 2023 and make predictions for 2024.

After completing a small investment in Celestia in 2022, we made two investments in 2023, leading the first and second rounds of investment for OhBabyGames, who are developing multiple games and a Steam-like client for CT (Crypto Twitter), which we are proud of. We also led the community round of investment for BLAST, which did not receive recognition despite receiving support from Paradigm (note: Paradigm partner: there are differences in marketing strategy with Blast, and we will take seriously its responsibilities in the ecosystem). We believe that BLAST is the future of multi-signature contracts.

We will continue to invest with a target of approximately twice a year. Here are our predictions for 2024:

G:

The rise continues, and most Tradfi still don't believe in the entire upward process (the arrival of a bull market), and human investment psychology remains unchanged. 2024 marks the clear beginning of the decades-long supercycle of BTC (and later ETH), with permanent DCA (continuous investment) entering spot ETF.

CL: Uponly, but not like the straight upward trend in 2021. Currently, the open interest of CME contracts indicates that investors are optimistic about approved spot Bitcoin ETFs and have good participation. Market participants seem to be more specialized in this cycle, involved in areas including mainstream coins on centralized trading platforms, altcoins on centralized platforms, altcoins on chains, and small picture collectors. I believe this situation will continue to exist.

Loomdart: The super cycle has started again. We will slowly and steadily rise, without the craziness of 2021. People are realizing how to invest in cryptocurrencies more steadily and securely.

Scoopy: Better versions and more of everything: RWA, infrastructure, derivative gambling, Ponzi, rug pull, DeFi, small pictures, etc. All emotions related to cryptocurrency will be amplified except for indifference. The market is generally rising, but the weak economy is suppressing what should have been a comprehensive bull market.

knlae // 0xKNL__: The "fundamentals" of Bitcoin remain the center of market action, and the market is more difficult than expected, with significant uncertainty (cash flow, elections, first interest rate cuts, quantitative easing, etc.).

Most traders suffer significant losses throughout the year; by the end of the year, over 100 registered investment advisors (RIAs) using BTC ETF-based SMAs have entered the market and are actively promoting them, but they need some time to adapt; Ethereum catalysts (such as ETFs and LSD) + EIP-4844 are driving a sharp rise in ETH. SOL's market performance can still surpass ETH.

The combination of cryptocurrency and artificial intelligence may give birth to multiple projects worth more than $5 billion. RWA is running at full speed for Tradfi and the public. Interest-bearing stablecoins (over $30 billion by the end of the year) and better cryptocurrency infrastructure will finally begin to serve unbanked users in Latin America and Africa, becoming the second real killer application of cryptocurrency (after speculation). The US Treasury and the IRS will take strict regulatory measures, and cryptocurrency will slump again by the end of 2024.

Loma: It seems that Ethereum's deflation and CEX holdings are not important, but the rise in institutional interest and speculation about ETFs in 2024 have caused ETH prices to soar above $3,000. The recovery of ETH prices has reignited interest in NFTs among ordinary users, ushering in the next NFT bull market. However, previous NFT blue chips (BAYC, PUNK, Pudgy Penguins) did not create new highs priced in ETH. Do Kwon returns and founds another project under a new name.

PopcornKirby: 2024 is a good time to become the biggest Ethereum maximalist. Looking at the open interest of CME contracts, Tradfi has no Ethereum position at all. All it takes is a popular crypto game/NFT collection to reshape the entire industry.

Emily: The return of quantitative easing in 2024. As people seek alternative value storage solutions, cryptocurrencies and bulk commodity/physical asset prices rise. Tradfi shifts from purchasing FTX shares to spot ETFs.

Eva: Ethereum. The infrastructure and user experience are ready to provide high-quality decentralized application experiences, institutional capital is pouring in, and DeFi is about to explode. And then there's zero-knowledge proofs. When we look back on the history of cryptocurrency in the future, we will see the difference before and after the widespread adoption of zero-knowledge technology; 2024 will mark the beginning of the zero-knowledge era.

CryptoCat: The first Tradfi Layer 2 is about to be announced. There are a lot of games built on Layer 2, but none of them are fun. Lido survived the first Sheldon crisis. Account abstraction was implemented, but users suffered losses due to confusion. The exchange rate between ETH and BTC has reached its highest point.