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The president of the Avalanche (AVAX<\/a>) development firm Ava Labs is issuing his crypto predictions for 2024.<\/p>\n In the interview<\/a> with CNBC, Ava Labs president John Wu talks up the Friend.tech challenger Stars Arena, a decentralized social finance application (SocialFi) that launched on the AVAX blockchain in late September.<\/p>\n \u201cWe just talked about Stars Arena, and they\u2019re going back online, and we will see one of these SocialFi DApps figure it out. There\u2019s been a couple already, and they\u2019ve had booms and some busts, but sooner or later they\u2019re fixing the business model and it will work well. So that\u2019s one of my predictions.\u201d<\/em><\/p>\n Wu also predicts the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin (BTC<\/a>) exchange-traded fund (ETF), potentially even in the fourth quarter of 2023.<\/p>\n \u201cWhen that happens, I anticipate a lot of inflow.\u201d\u00a0<\/em><\/p>\n The SEC delayed decisions<\/a>\u00a0on a slew of spot BTC ETF applications, including BlackRock\u2019s, in late September.<\/p>\n The final deadline for the SEC to review one application, the ARK 21 Shares Bitcoin ETF, is on January 10th.<\/p>\n In terms of updates to Avalanche, Wu notes that Ava Labs plans to roll out real-world assets, some of which will be announced in November.<\/p>\n \u201cThese are, I think, game-changing developments with\u2026 TradFi banks and asset managers. These announcements will be really big, I\u2019m super excited for these institutional, real-world assets being deployed on Avalanche.\u201d\u00a0<\/em><\/p>\n Avalanche is an Ethereum (ETH<\/a>) rival. The project\u2019s native asset, AVAX, is trading at $8.93 at time of writing.<\/p>\n