Australia's largest crypto exchanges are anticipating a surge in market activity in early 2024 as the cryptocurrency market enters a bullish phase. The leaders of these exchanges, including Independent Reserve, BTC Markets, Swyftx, Kraken Australia, and Binance Australia, have expressed their positive outlook for crypto market conditions next year.
Adrian Przelozny, the CEO of Independent Reserve, predicts that market activity will pick up in early 2024. He revealed that they are making preparations to handle the anticipated rapid growth that accompanies a bull market. Meanwhile, CEO of BTC Markets Caroline Bowler acknowledged the overall bullishness of the market. She pointed out the rise in asset prices, technological advancements, growing user base, and increased trading volumes as indicators of an early-stage bull market.
Tommy Honan, the product strategy head at Swyftx, reported an increase in buying activity on their exchange. Honan attributed the heightened activity to attractive market fundamentals that are attracting investors who had previously stayed on the sidelines during the bear market. Managing director of Kraken Australia, Jonathon Miller, acknowledged positive developments such as the upcoming Bitcoin halving and Ethereum's Dencun upgrade. Miller also highlighted that while attention is on the spot Bitcoin ETFs, the expanding appetite among institutional clients should not be overlooked.
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