1confirmation: The market size is expected to grow 100 times in the next few years, and DeFi and NFT will grow stronger

In its Q2 2024 LP letter published on the X platform, cryptocurrency investment institution 1confirmation said it expects DeFi and NFT to grow bigger than ever, and SocialFi and other new use cases will emerge through application chains, L2, and L3. Non-custodial products will continue to grow, which enable users to trade, borrow, lend, mint, and earn without trusting third parties. L2s such as application chains, Base, and application chain-specific L3s will bring scalability and improved UX to cryptocurrencies, ultimately making the pie bigger. L1 tribalism will disappear, and great developers will build where they can capture the most value and have the most control. Prediction markets are a breakthrough use case that emerged in the crypto space in 2024, and the market size will grow 100 times in the next few years. Polymarket is indeed the best way to track elections and other world events, and it is also a product that really stood out this year.