“CryptoCurrency Market in 2024: Potential and Opportunities” AMA Recap
During Uquid’s recent Ask Me Anything (AMA) session on February 29th, participants were exposed to a valuable and informative discussion of Uquid, Alpha Mobile Topup, and their strategic partners in the crypto wallet market. They are Fox Wallet, Onto Wallet, and XDEFI Wallet. Hosted by Diego — Uquid’s representative, the 1-hour AMA session aimed to shed light on the perspective of all parties about both the potential and opportunities of the Crypto Market in 2024.
The AMA session featured insights from representatives of XDEFI Wallet, Fox Wallet, Onto Wallet, and Alpha Mobile TopUp, which are the big players in this market, showcasing the strengths and achievements of each project. XDEFI Wallet emphasized its support for multiple blockchains and upcoming features like the gas tank for streamlined on-chain transactions. Fox Wallet highlighted its focus on security and user experience, while Onto Wallet emphasized decentralized identity systems and cross-chain functionality. In 2023, significant milestones were achieved by each project, including integrating new chains, partnerships, and user growth. In 2024, plans include innovative features like staking, cross-chain swaps, and enhanced support for the Bitcoin ecosystem. Moreover, they also share about their partnerships with Uquid, which aims to enhance the crypto shopping experience in Web3, focusing on simplifying transactions and improving overall user experience.
For those unable to attend the AMA, we’ve also created a full recap of the AMA here. Please note we’ve made slight grammatical adjustments to the content for easier comprehension and smoother reading.
[Diego — Uquid]
Hello everybody, can you hear me? We will kick off our AMA today. Firstly, thank you all for coming to this AMA today.
My name is Diego from the Uquid team, and I will be your host today using the Uquid account. Firstly, for the people who need to learn Uquid, Uquid is the leading web-free e-commerce platform. We offer 160 million products, including physical and digital products.
Right now, we are serving over 150 customers globally through our network partners, so we are enhancing the shopping experience. So, in today’s AMA, we will dive into some great insights with our partners. We are talking about the current recovery of the crypto market and thereby assessing the potential opportunity and risk of the market in 2024 from our guests’ perspective. So, we’ve got three awesome guests and speakers with us today from XDEFI Wallet, Fox Wallet, Onto Wallet, and my teammate at Uquid.
It’s time to learn about these folks and their fabulous projects. So firstly, we got our speaker from XDEFI Wallet. Hi there. Can you give a quick introduction about yourself and what XDEFI Wallet is all about?
[Jordan — XDEFI]
Yeah, sure. Thanks for having us in space. I’m Jordan, I’m the head of marketing for XDEFI. So, XDEFI is a multi-ecosystem self-custody wallet.
We currently support 36 blockchains natively. And if you include custom networks on EVM and Cosmos, it’s over 200. This makes us the wallet that supports the most blockchains out there.
There isn’t any other wallet that does EVM and Cosmos custom networks simultaneously. We enhance the user experience by allowing them to see their total balance across all chains and swap and bridge cross-chains within the wallet. So, this makes us an ideal wallet for anyone holding crypto across different networks and constantly moving to other chains to explore, whether like new gems and altcoins or if you’re trying to hunt airdrops.
[Diego — Uquid]
Yeah, cool. Thank you for your introduction. So next, I would like to hear more about Fox Wallet.
[Natalie — Fox Wallet]
Thank you so much, Uquid, for inviting me to speak here today. My name is Natalie, and I have been doing business development with Fox Wallet for over two years, which is as long as Fox Wallet has existed. So, Fox Wallet is a decentralized non-custodial wallet that has over 60 different networks at the moment.
And we are ZK-focused as well as Bitcoin ecosystem-focused. Our wallet has been audited twice. We’re focusing on creating this very seamless and easy-to-get-in-get-away for web3 users. So yeah, I’m just trying to be very sure here; we audited twice but slowly missed and searched. So that’s what comes to safety. Then, we started as a Filecoin wallet and have good experience in ZK privacy chains. So yeah, a very experienced team here as well. And I’m super happy to have other wallets here. Well, it’s always good to have competitors and listen to what other people are doing. Also, just know that the wallet industry and web3 are evolving, and things are happening. And yeah, I’m thrilled to be here today and hear what others can check.
[Diego — Uquid]
Thank you for the lovely introduction from Fox Wallet. So, we would love to know more about Onto Wallet and welcome. We are waiting for the introduction from Onto Wallet.
[William — Onto Wallet]
Okay. Thank you. So, first of all, thank you for having us in space.
I’m William, in charge of social media for Onto Wallet. So, Onto Wallet has been in the space for quite a while, and we launched our product over six years ago. And so, we are a decentralized identity-based Web3 wallet to offer you a decentralized and non-custodial experience.
So, with Onto Wallet, users can securely manage all their identities, data, and digital assets in one place. And so, your digital assets, including your crypto assets and NFTs, and you can perform cross-chain swaps and bridge all in our wallet and access a variety of decentralized applications. One of our main strengths is an in-app decentralized digital identity system that allows our users to create and manage their multi-chain wallet addresses with only one click.
And so, I’ll come to that in more detail later. And so that’s a quick overview of us. Thanks.
[Diego — Uquid]
Okay, cool. Thank you for your introduction. So, of course, for the last one, we are waiting to hear our speaker from Ukraine.
Hey, Hannah, can you hear me?
[Hannah — Alpha Mobile Topup]
Yeah, I can hear you. I’m thrilled to join in the AMA with our other speaker. So, I’m using an Alpha Mobile TopUp account.
Here is a quick introduction. Alpha Mobile TopUp is a B2B solution providing TopUp and data services for Web3 generation businesses. So, my teammate Diego already gave you a brief introduction about Uquid.
I just want to emphasize our business again. So, we are the world’s favorite e-commerce platform with the best shopping experience. So, we have the most extensive selection with more than 160 million products.
So, you can find the physical items, the digital goods, and even NFT in our shop. But we don’t just have a traditional retail; we also have the NFT marketplace and a lot of products that you can find easily in our shop. So, our ambition is to dominate the crypto market by offering a buy now, pay later option to all the users.
So, when users shop at Uquid, they can flex for a convenient payment method, including cryptocurrency, fiat, wallets, and so on. So that’s why we partner with XDEFI Wallet, Fox Wallet, and Onto Wallet to ensure the security of all users during online shopping and make crypto shopping more accessible than ever. Thank you so much.
[Diego — Uquid]
Okay, thank you for your introduction, Hannah. Okay, firstly, I want to thank all of you guys for the fantastic introduction. So, it’s been incredible to get to know your projects. So now, let’s deep dive into the central part of our AMA today. We’re about to tackle the big topic today, the current recovery of the cryptocurrency market, and explore the potential opportunities and risks of the market in 2024 from our guests’ perspective. We also have a review of each project.
These reviews give us updates on what milestone each project has reached and what they are planning for 2024. This will be an exciting part of our AMA. So, make sure you stick around till the end and ask your questions in the comment section.
So, we don’t want to let you wait. So, it’s time to learn more about our guests and their products. So, the first question is for all the speakers from XDEFI Wallet, Fox Wallet, and Onto Wallet.
In the position of the project providing payment solutions and access management for the users through the decentralized Web3 wallet, what are the strengths of your project that resonate with the users’ perspective? Okay, I will go first with XDEFI Wallet.
[Jordan — XDEFI]
I’m sure. Okay. For our strengths, because we’re a multi-ecosystem wallet, a user could have crypto, like all the leading different cryptos, like Bitcoin, Solana, Ethereum, and even Dogecoin, and it’s all into one wallet. They don’t have to have five other wallets to manage all these assets. And so, when it comes down to payments, that becomes convenient for the user because now they don’t have to, like, it’s like real life, right? You don’t have five different wallets to carry around when you go shopping and make payments, you just have one.
And so just like with XDEFI, you can just have that one wallet, and have all your different cryptos in it. And what’s good and how we connect with Uquid is that now you can use all those different cryptos and shop directly with it without having to find a fiat and off-ramp, like moving your crypto back into an exchange and withdrawing it into fiat. You could just go directly into crypto using your native assets across different networks.
[Diego — Uquid]
Okay. Thank you for your sharing for the project. And I’m sure that the community has a better understanding of the strengths.
Also like as you shared before, the XDEFI wallet has supported more than 36 blockchains. I think it’s also a great way for users they store and also, and they can swap, and send a token by XDEFI wallet. So, okay.
Let’s move on to FOX wallet. Can you share more about your project’s strengths? Thank you. Absolutely.
[Natalie — Fox Wallet]
Yeah. Thank you for letting me speak.
So, I think this question should be looked at from very different perspectives in terms of what the user is looking for, but also what is important generally, because there are different aspects to it, right? That’s the most important aspect in the way that if there’s no safety, nothing matters. Right. So, yeah, Fox Wallet has been, what is it twice? As I mentioned to you, we got an audit and each of those reports was very, very successful in our case and also the audit itself.
Like it’s a sort of investment, you know, so it also shows that the team has the means to do something like that. Another strength that we have is of course the experience, the experience of our developers in general. And that comes to the fact that our team has worked on core development of very, very early chains like quantum.
And then also the fact that we have created other web3 projects. For example, there is an Explorer on Filecoin, which is the most popular Explorer. And there are other things on Filecoin that we did before as well.
And the other thing is, of course, just general user experience and user interface. And that’s something I believe Fox Wallet is very, very strong at because the general, generally we have a very, very sleek design. And Fox Wallet is very, very easy to use, to be honest.
It’s extremely easy to navigate. And anybody, any beginner, or even somebody who knows absolutely nothing about web3, whenever they open Fox Wallet, it will be very, very easy for them to generally use it. So that’s one of the strengths, one of the things that always makes because Fox wallet is indeed very, very easy to use.
And of course, last but not the least, is general function. For example, we have natively integrated swaps provided by 1inch, because we’re trying to make sure that we use the best, the most trustworthy provider in our opinion. Then also the discovery page, where you can find out about all the DApps and all the different ecosystems.
And in general, having only different networks, which we have currently over 60 different ones. They all include EVM, non-EVM, and ZB privacy, which by the way, also shows our strength in terms of code. Yeah, because ZB privacy is very hard to generally integrate into a wallet like Ironfish or Alio, for example.
And we’re currently working on Cosmos networks as well. So that’s another point here. And yeah, of course, working a lot, another strength that we have is the community as well.
But I believe that every single Web3 project works a lot on their community and they make sure that something, that’s a very strong point of theirs because, well, I guess the community shapes the project itself and any product.
[Diego — Uquid]
Thank you for your sharing. I agree with you that security is the first thing we put at first when we join Defi. And I think it’s more important than security.
And yeah, I do believe that Fox Wallet is also to have users who can use the EVM chain, non-EVM chain, and especially the GK chain. So this is one of the strengths, multiple strengths of the Fox Defi wallet. So, okay.
For the last one, we would love to know more about Onto Wallet. So, could you please share more with us about your project’s strengths? Yeah. Okay.
[William — Onto Wallet]
Thanks for the question. So first of all, for a wallet, of course, security is foremost and foremost. And first and foremost, security is at the core of our product.
And since our launch over six years ago, and we have had a stable and secure operation since then. So not a single incident has happened during our operations. Also, we think that to help people, especially those who migrate from traditional wallet services and banking services to the Web3 world, it is very important to help them on board and get started with Web3 wallets very easily and seamlessly.
So that’s why we designed our product with a very nice and easy-to-use interface. And we also think that, well, for a wallet, for a very general-purpose wallet, you need to help users manage all kinds of digital assets. That’s why we already have over 70 popular public blockchains supported in our wallet and allow users to manage over 20,000 tokens in the wallet.
And well, we think that for a decentralized Web3 wallet, privacy is also very important for our users. So, we protect our user’s data with a decentralized identity system. So all the data is stored offline, locally, so users can manage their data with just one click.
So apart from multi-chain wallets, we also have a lot of other functions and features in our wallet. For example, users can manage their NFTs. We have a separate section dedicated to NFT management and trading.
Also, we support over 1000 decentralized applications where users can navigate the Web3 world with a lot of different applications and services. This is thanks to our partnership with a lot of outside projects whose services are integrated into our wallet so users can use them in the app. So, I think these are very important things, security, multi-chain support, and also a lot of interesting but indispensable features.
[Diego — Uquid]
Thanks. Okay, thank you for your introduction and also your sharing about the strength of the project. I love the message that people migrate from traditional on both the Web3 environment and manage all the digital currency by using the decentralized identity ecosystem.
So that’s one thing that is very interesting to me. So okay, thank you for all your response and I’m aware that the strength of this project coming to a bigger market as well as the unique selling point of each project to attract loyal customers. So let’s take a moment to recap the year 2023 for each project with the following question.
So okay, for this question, the question is what were the key achievements and milestones that your project experienced in the past year? Yeah, I will go first with the XDEFI wallet.
[Jordan — XDEFI]
Yeah, sure. So, for the past year, we’ve been working hard on expanding the wallet and covering more chains.
So, I believe in the past year, we’ve integrated close to 10 new chains in the wallet natively. The most recent ones are Maya Chain and Tron. And then the other most prominent feature that we launched in the past year is the custom networks feature.
So again, that gives users access to over 200 chains on EVM and Cosmos chains. So, if a user wanted to interact with like Blast, which is coming out tomorrow, or Zeta chain, which recently came out, they could easily do so on day one by just adding a chain into the wallet. And then, in terms of growth, we’ve been growing quite steadily.
We’re currently at around 230,000 users. And we’re continuing to see growth even more going into this whole market.
[Diego — Uquid]
Okay, thank you for sharing that.
Firstly, congratulations on all the achievements in 2023, especially the integration of 10 chains. So yeah, thank you for your sharing about the achievement. Next up, we would love to know about the Fox Defi wallet.
Okay, I think. Okay, Natalie, can you hear me?
[Natalie — Fox Wallet]
Okay, thank you. Yeah, so regarding the achievements, there’s been a lot this year. So apart from the fact that we have integrated a lot of networks, especially the very popular L2s like Linear, Tyco, and Scroll, we also worked on, as I mentioned before, ZKey privacy chains like IronFish and Alio.
We launched it because Fox Wallet is a mobile app that is a multi-chain wallet. But then we launched a browser extension just for Alio chains. So it’s just one, but I mean, it’s just one network there at the moment, but it’s focusing on the Alio chain.
And then, yeah, so that was another thing that we’ve built. And we’ve been, I mean, you can imagine if you have to launch a whole extension, that’s a lot of work as well. So, shout out to our developers for that.
There’s been other, a lot of other networks, as was just mentioned also, ZetaChain there, and ZKFair, and oh God, I can’t remember every single one, but I can just very quickly probably check it out. Nautilus chain as well, ScrollMiner dimensioned, also Quantum and stuff. So yeah, there’s been a lot of networks.
Also apart from other very important things, so we integrated swaps natively, as I mentioned before, that was one inch. So we did that in August. So now users can swap assets across 12 different networks.
No, sorry, across, but in between, let’s put it this way. But yeah, so swaps are already available on Fox Wallet natively here. And then we also, have another important milestone, and at the same time, a very important kind of trend that is happening right now is the Bitcoin ecosystem.
So, Fox Wallet has integrated the Bitcoin ecosystem. We’re working closely with some of the ecosystem, like generally BRC20 projects. Also, we have introduced batch inscriptions.
So, on most of the networks that Fox Wallet has integrated, users can inscribe, which is another super cool tool that is available to very well-experienced users. And at the same time, even for beginners, it’s quite easy to understand and navigate it. And another important achievement I would say is the fact that we of course had a partnership with Uquid by the way, and we had them listed on Fox Wallet’s discovery page and users can easily redirect to Uquid and shop there and experience that.
And also, I would say that I mean, especially Uquid has been endorsed by Binance itself, and I keep receiving the messages and stuff and some cool discounts and some cool campaigns that you guys are having. I’m pretty sure that you’re doing great, and you’re doing a very cool thing in this industry as well.
RECAP 2:
Well, in terms of Web3, another important thing is that we had a second anniversary, so we had a whole month of campaigns, and during that, we had like, god, like 50 different projects that participated in this campaign over the month, and then we had so, so many cool ecosystems, how they call AMAs, with like Linea, with Quantum, with ZK-Sync, with Scroll, with Tyco, got a country member, there were a few more, so yeah, and during that time we reached over 50,000 daily usage activity, which was super cool, and yeah, then since then it’s been only going up, so super happy, and to share with you about our achievements.
[Diego — Uquid]
Yeah, it’s great to know that; shout out to your team about some achievements in 2023, for example, working on the GKE privacy, developing the browser, and also integrating the swap function, and especially the partnership with Uquid. For the next step, we would love to hear from OntoWallet, could you please share more about your achievement in 2023?
[William — Onto Wallet]
Yeah, sure, so in 2023 we continued to focus on improving our product, and optimizing our in-app features and functions to provide our users with a more user-friendly and intuitive experience, and we’ve racked up a few good numbers in 2023, in this year we achieved a total of 1 million registered users, and also we’ve integrated quite a few blockchains, and so now the total number of networks available in our wallet amounts to over 70, and we also cover over 1,000 decentralized applications, and over 20,000 tokens, and we’ve also partnered up with a lot of nice projects, and we now have over 300 ecosystem partners bringing a lot of exciting services to our users, so we’ve done quite a few things in 2023, and we’re very excited for the year to come to provide more exciting features for our users. I would love to summarize a little bit about some notable numbers of Onto Wallet to the community. Onto Wallet has reached over 1 million active users, with 17 networks available at the moment, and with more than three ecosystem partners that onboard Onto Wallet.
[Diego — Uquid]
Yeah, thank you for all of you guys, so the last speaker to answer this question is Hannah from Uquid. I’m sure my colleague has many things to share about our milestone in 2023. Hannah, this is your turn.
[Hannah — Alpha Mobile Topup]
Yeah, thank you, Diego. Last year, we focused on expanding our platform’s offerings, so we also improved user experience and built strong partnerships. For each partner, we focused on maximizing cooperation through educational content, engaging events, and long-term projects, exciting events on the horizon, going up, and spreading wellness to build trust and confidence in shopping on the Uquid platform. Furthermore, we are introducing several new product features.
We offer daily deals and the category, the specific e-commerce, so users can provide a quick update on the hand-picked hot products with great prices. They’re also directly linked with major online marketplaces. For mobile top services, we call for 2,100 operators in nearly 200 countries all over the world.
Moreover, direct integration with PayPal top-up for one-click payments. We have already launched Uquid Dapp as a one-stop destination for users to connect with other platforms, and we also deployed a new function that allows users to enter the custom denomination while purchasing several gift cards, payment cards, and top-ups. Regarding the payment methods, we’ve expanded our network to include five new tokens, accepting various stablecoins.
And lastly, we deployed a new function that allows users to enter the custom when they purchase a lot of stuff on our website. Thank you so much.
[Diego — Uquid]
Yeah, thank you so much for your sharing. So, what is the roadmap for your project in 2024? Are there any significant events community members should be looking forward to? Yeah, I will go to XDEFI Wallet.
[Jordan — XDEFI]
2024 is a pretty exciting year for XDEFI. Our “gas tank” feature is the first coming up. With this feature, you will have a single balance in your wallet, which you could fund with XDEFI tokens or USDC, and it will let you pay for your on-chain gas fees across any of our supported networks from a single balance.
So that means if you are doing a transaction on Bitcoin or Solana, you would typically need native Bitcoin or native Solana on each of those chains to pay for the transaction. But with the “gas tank,” you no longer need that. So this gas abstraction solves a lot of problems for either new users who don’t understand what the “gas tank” is, or how gas fees work, or even for experienced users who are constantly engaging on different chains and having to bridge funds over to various networks just to pay for gas.
It’s a real pain in the butt. So the “gas tank” just solves all of that. Another big thing that’s coming to launch is our mobile app.
So there are a lot of people who constantly ask us when the mobile app is coming out. That’s coming out soon, towards the end of Q2 or early Q3. And along with the mobile app will be a revamped version of the extension.
So, we’re building a much more improved version of the current wallet extension on the browser. This will significantly improve the UX-UI for all of our users. Those are the three biggest things coming up in our roadmap’s short term.
[Diego — Uquid]
Okay, thank you for sharing about the roadmap. The gas discussing features are an innovative idea for 2024. Okay, let’s move on to FoxWallet. Can you share more about the roadmap in 2024?
[Natalie — Fox Wallet]
Yep, yes, I’ll try to be very fast. Yeah, so we already have a few things that will be rolling out in Q1 at the end of Q2 or the beginning middle and Q2. So that’s number one is staking.
So we’ll have to stake within Fox Wallet for different networks, assets, etc. Number two is cross-chain swaps because we have general swaps for now, but cross-chain swaps are coming very soon, which is super good. Many networks will have many options, so we’ve chosen the best integration partner possible. So that’s something that users will like.
Number three, we hope to have an offline event or events this year because last year, we participated in many conferences and traveled to many places. Still, we needed to have a chance to participate in something properly. So yeah, this time, hopefully, we’ll partner up with some of the hosts that already have hosting events and have some partnership with them and, you know, have an offline event there and speak and stuff.
So that’d be super good. And another important thing is, of course, focusing on the Bitcoin ecosystem and working towards that. These are the main focuses of 2024 for FoxWallet.
[Diego — Uquid]
Yeah, cool. Yeah, we wish you luck on all your plans in 2024. And I hope that all things can happen this year. Okay, let’s move on to Onto Wallet.
[Williams — Onto Wallet]
Here is an overview of our roadmap for 2024. First, coming up in the first quarter, as in 2023, we already enabled some features for the Bitcoin ecosystem and supported the transfer inscriptions function.
And so, in the first quarter of 2024, we’ll continue to focus on boosting our support for the Bitcoin ecosystem. And so we’ll enable BRC20 inscriptions and other protocols on top of the Bitcoin network. Then, we will upgrade our in-app functions to offer users a smoother experience.
So, features include a user management system, and we’ll launch a dedicated section for influencers in our app. And we’re also thinking of empowering content creators in the Web3 space. So, we’ll work with our ecosystem partners to provide an excellent platform for them to unleash their creativity.
There is a lot more coming up on that, so stay tuned. And we’re also trying to integrate and develop an account abstraction function in 2024. So you can see many things to do in the year to come, in this year.
So, well, stay tuned. We’ll have a lot more announcements and exciting news.
[Diego — Uquid]
We will be waiting for more updates from your team. So okay, thank you for all of the introductions and the sharing about the roadmap in 2024. So, moving on to the exciting part of today, the discussion on the market outlook in 2024.
So, in 2023, we have a fantastic year. As you know, Bitcoin’s value has skyrocketed. It’s increasing around 172%, and it wasn’t just Bitcoin.
Ethereum and other digital cryptocurrencies also show massive growth, with their combined value growing to 90%. And it was a strong year overall for the whole market. And we have also witnessed the recent approval of spot Bitcoin ETFs.
And we are anticipating an upcoming event such as Bitcoin halving. And in 2024, especially with the latest news from yesterday, you may know that Bitcoin is quickly reaching 60k for the first time since November 2021. The market is going into a frenzy.
Many are asking if this is a new signal indicating an upward trend in the market. So, while we don’t provide financial advice in this AMA, we are just sharing insight into the market and discussing how each project learns to adapt to this potential new recovery trend. So, how will this event impact the market dynamic in 2024? And what are the trends do you foresee in the cryptocurrency market for the same year? Okay, I will move on first with the XDEFI wallet.
[Jordan — XDEFI Wallet]
With the market game heated, a lot of people could say that we’re in a bull market. I think with XDEFI in particular, we’re pretty well positioned for it. Any positive news for crypto means more adoption. And we are the wallet that supports the most chains.
A lot of people who use crypto on a central exchange they’re used to trading a lot of different cryptos. But once they move to self-custody, if they’re only going to like a Metamask, they might find an issue because, like, oh, they can’t have their Solana on their Metamask. So, if someone wants to store various cryptos, such as Bitcoin, Ethereum, and Solana, in a single wallet off of a central exchange, their best option is XDEFI.
If they want to chase a new altcoin or airdrop, they can also do so with XDEFI. With the bull market, there’s going to be a lot of liquidity being swapped around — everyone’s swapping assets, chasing the new shiny object.
So, we capture this directly in the wallet because users can swap directly in there. We have a very deep rooting in our wallet. And this also benefits token stakes as well.
XDEFI stalker gets 75% of net revenues to go back to them. Also, in terms of new trends, wallets will be one of the narratives in the bull market, similar to AI or gaming, especially as new users come into DeFi. Right now, new users are mostly going to Metamask by default.
However, the experience is not very good. It takes a lot of work for new users to grasp all the concepts of DeFi. And so what we’re building with XDEFI, especially with our new revamped version of the extension and the mobile app, is an experience where new users can come from traditional finance or centralized exchanges and have a very seamless experience that they’re used to and not having to learn kind of everything that there is in DeFi.
[Diego — Uquid]
Yeah, thank you for your sharing. This will be a great deal for the crypto market, and the XDEFI wallet can catch the opportunity to bubble up along with this with a great opportunity. So, okay, I will move to Fox Wallet.
[Natalie — Fox Wallet]
Yeah, we would love to know your thoughts on the trend in 2024. Yep, I guess I would probably just top-up what’s been mentioned by XDEFI Wallet because I guess many of us have very similar views on what’s going to be trending in 2024. But yeah, I do agree with the whole AI trend.
It’s not going to be the main thing in Web3, but it’s going to be more like an assisting tool. It will bring a lot of assistance to Web3 projects. And there will be many kinds of merges with AI and different blockchains or AI and trading and stuff.
Also, still, like if we were predicting for the end of 2023 and, I guess, 2020, this trend will continue in 2024, of course, the L2 dominance, sort of dominance, and Bitcoin dominance as well as Bitcoin ecosystem dominance. We have to follow that, especially once the ordinals were introduced. It all had a different turn in the Bitcoin ecosystem. That’s something we have to follow in 2024.
Well, and in general, I guess, let’s see what happens after the halving because the usual trend was that the halving happens and then within, I don’t know, in the span of a few, at least a few weeks and then a few months that’s when the Bitcoin price would go higher, you know, and the market would get better. But we are seeing a different situation right now due to specific reasons. So, yeah, it’s going to be interesting.
And as for me, it’s hard to predict. But at the same time, I’m not a professional here, so I can’t say much. And again, in 2024, the trend with the regulations will continue.
And probably I hope that it’s going to get better in the way that the whole, all the terms of regulations will be much better defined, you know, for us and the SEC, you know, so that we also understand what kind of guidelines we have in Web3 projects, you know, for operating. So, that’s my view. So, I’m not going to give advice here, just saying what’s been noticed recently.
[Diego — Uquid]
Yeah, but it’s also an excellent perspective from your team. This is the perspective from XDEFIWallet, ProxWallet, and OntoWallet. What do you think about that?
[Williams — Onto Wallet]
Okay, yeah, sure. Over the past few days, I’m sure we’ve all been watching the recent price surge of Bitcoin and the bigger market. Many people are excited about a bull rally, which is continuing. And experts say two factors mainly drive the surge.
The enthusiasm of institutional investors is represented by the ten newly approved Bitcoin ETF spots and the imminent Bitcoin halving event in April. The market seems quite good right now. But I think that for the general Web3 community and for all the people who are out there trying to figure out where we’re heading next, I think I believe the regulatory approval and attention of the past couple of months is a good thing for the global community of cryptocurrency and Web3 as a whole because it helps people outside this space to get to know what the market is and beyond the speculation to understand what blockchain technology will bring to the world indeed.
These ETFs also provide investors a regulated and accessible pathway into the crypto market. This is a good thing to gain recognition from the mainstream. But for investment-wise, it’s not financial advice from our side.
And we’re excited to see the current situation. And we’re looking forward to seeing what’s next. We’re excited about 2024.
[Diego — Uquid]
Thank you for all the perspectives from our guests today. Overall, we are very positive in the market this year. And I hope we have a great year in 2024 and see the market mass-adopt soon.
So okay. For the final question today. So, let’s focus on the benefit our customers will receive from the partnership between Uquid, XDEFIWallet, PopWallet, and OntoWallet.
So, what is your perspective on using wallets in Web3 shopping, particularly in partnership with Uquid? I will go with XDEFI Wallet.
[Jordan — XDEFI]
Because I’ve mentioned this a little bit before, but at the core of why crypto was made was to be like a new type of money, like a sound digital currency, and use the currency to buy things. It only makes sense that you can spend your crypto directly to shop. We feel Uquid is heading in the right direction because it is easier for users to buy anything they want with their crypto while not having to find an off-ramp or convert their crypto to complex fiat.
But yeah, that’s our stance on it. Yeah. Thank you so much for the recent partnership with us.
[Diego — Uquid]
We want to see more users using the XDEFI Wallet to shop on Uquid. Yeah. I’ll move to Fox Wallet, who is like the partners in the past year with Uquid.
[Natalie — Fox Wallet]
Yeah. So, first of all, I agree with the previous speaker in terms of why crypto was initially created for the purpose of it and how we can do shopping seamlessly right away with crypto. And I want to top it up then because Uquid here, in this case, is early.
Right. And you guys have built this excellent product, and you have such a superb background here, which helps you now to enter this bull run at full speed, you know, with the product ready and people ready to use it. So now is the perfect time for you.
You know, it’s a good market. You know, people are also going to be more enthusiastic about spending. So, that will also help you work on the product because you will have, I guess, a massive influx of users who would be using Uquid, thus giving you the feedback response, you know.
So the more of that, the better you will get, the better your understanding of how you can move on in shopping and not just improve it but make something even more out of it. Right. So, yeah, this is your time, and you’re early in this specific thing.
So, I do hope that this bull market brings Uquid, you know, a lot of, first of all, a lot of users, which is essential, and a lot of feedback and growth. Yeah.
[Diego — Uquid]
Thank you for all of your news about the partnership with Uquid. Let’s move on to Onto Wallet. We would love to hear your thoughts.
[William — Onto Wallet]
Okay. As I mentioned, the market is on the upswing, so that’s a good thing for the whole community. For Web3 and crypto users, now is an excellent time to explore use cases in the crypto space, and I believe a Web3 shopping experience offered a wonderful, perfect place to start and explore. So, I think that definitely is a good opportunity for Uquid, and we’re also very excited that we’ve partnered with Uquid to offer our Wallet users a place to shop real-world stuff and digital stuff with their crypto assets in a very seamless and intuitive way and a very smooth experience.
I’m looking forward to doing things together this year to give our users a better experience, and we also hope that Uquid can grow even better and faster.
[Diego — Uquid]
Yeah. We would love to see that, too, to enhance the crypto shopping experience, and we hope that Onto Wallet and Uquid make that more reliable. Yeah. Okay. For the last one, we would love to know. Yeah. Hannah, please share more about your thoughts on this question.
[Hannah]
So, with the integration of wallets as the payment method at the Uquid platform, users have many benefits. Firstly, we offer a better user experience and easier web3 shopping. Users can now shop with Uquid right from their wallets without jumping between the different apps. You know, just the seamless digital shopping experience to dive into the products. Users’ transactions at the Uquid shop will get extra security from our partners like XDEFI Wallet, Fox Wallet, and Onto Wallet. It’s like adding a layer of confidence to the online shopping adventure. But I do believe that we didn’t stop there. Our goal is not only to educate users but also to empower users to experience web3 shopping. Thank you.
