Binance Research analysts outlined eight areas they anticipate significant progress on throughout this year — including the Bitcoin ecosystem, artificial intelligence, real-world assets and institutional adoption.

In 2023, the crypto market witnessed a significant rebound, with a 109% increase in market cap, amid optimism surrounding spot bitcoin exchange-traded fund approvals and a favorable macro environment, the analysts wrote in a report published today. Bitcoin regained its dominance, and Layer 2 solutions saw a 321% rise in total value locked. The decentralized finance sector also grew notably, fueled by innovations in liquid staking tokens and the integration of real-world assets, they said.

Conversely, the global stablecoin market saw a 5.2% decline in market cap, with Tether's …