Ripple's CEO, Brad Garlinghouse, is looking forward to 2025, stating that there will be a significant development coming next year, centering on the cryptocurrency industry's growth.
According to the executive, crypto will see it double in size come next year, further claiming that he sees a combined market capitalization of the crypto market that will reach $5 trillion this 2024.
It also came at a time when Ripple recently introduced its US dollar-tied stablecoin, another blockchain-based development of the company since XRP.
Ripple's Brad Garlinghouse Believes in Crypto's Growth Come Next Year
(Photo : PATRICK T. FALLON/AFP via Getty Images)
I'm very optimistic. I think the macro trends, the big picture things like the ETFs, they're driving for the first time real institutional money.
Brad Garlinghouse
The Ripple CEO claimed that there are macro factors that contribute to this, including the arrival of the first US spot bitcoin exchange-traded funds (ETFs), and the Bitcoin 'halving.'
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Five Trillion this Year, Crypto to Double in Size by 2025
Moreover, Garlinghouse claimed that Ripple sees the combined market capitalization of the crypto market to achieve $5 trillion this year, and more.
Ripple's Garlinghouse also said that there is a massive drive in demand now, with a decreasing supply in the crypto market now.
The Bitcoin halving event will take place later this April, since its last event in 2020, is said to take place every four years.
Cryptocurrency Development this 2024
In 2024 alone, the world of cryptocurrency saw its healing and return to its former glories like what it experienced in 2021 and 2022, following a staggering performance in early 2023. While the last few years saw the dwindling performance of Bitcoin, particularly with its fall to an alerting valuation at around $16,000, its rise this late Winter saw it climb to above $50,000 and even reach a $72,000 all-time high.
Other cryptocurrencies also followed, with Ethereum, Binance Coin, Tether, Solana, and more experiencing a significant pull from Bitcoin for a higher valuation.
Additionally, Coinbase reported an 11 percent stock increase after seeing massive bullish returns in the last quarter of 2024 thanks to crypto's growth.
Ripple is now making waves in the crypto industry as the XRP creator is moving towards a USD-based stablecoin which would go against top coins in the market, USDt and USDC.
Garlinghouse has massive beliefs in the current track of the crypto market, claiming that it would double in growth by 2025, with Bitcoin halving being one of the top reasons behind it.
Related Article: Ripple's Stablecoin Is Coming, Going Against US Dollar-based Crypto Like Tether, USDC
