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Thursday, July 20, 2023
Research
Binance Research 2023 H1 report source
- Market Overall
- Although it was not without difficulties, it showed resilience, such as the overall market cap closing at +.
- BTC dominance ends halving at its highest level since April 2021
- Year-to-date price increase of more than 87% significantly outpaces general trading finance investment
- Correlation between Bitcoin and traditional finance also hit a multi-year low
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Ordinals and Inscriptions have breathed new energy into the entire Bitcoin ecosystem, and sustainable development and innovation are expected in the future.
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L1 is eventful
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Ethereum's liquidity staking hits record high
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LSTfi was born as the BNB chain focused on scalability
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Solana rebounds after turbulent 2022 and launches web3 phone
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Tron's dominance of USDT continues to increase
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Avalanche makes progress in subnetting and corporate partnerships
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Cosmos advances in the sharing economy security model
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Ethereum L2
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Launch of first fully functional zkEVM, while optimistic rollup continues to dominate
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Many key players present ideas future visions for blockchain networks: L3, Superchain, Hyperchain, etc.
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Stablecoins
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Global stablecoin market value decreased by 7.0%
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Significantly reshaped the market composition due to adoption trends, the regulatory environment, and changes in the approach of certain players.
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USDT stands tall as TOP with an astonishing 25.8% increase in market share compared to the beginning of the year
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DeFi
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User migration to DeFi has increased since the beginning of the year
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This is due to the remarkable rise of liquidity staking
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DeFi continues to discover new use cases
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However, DeFi's share decreased by 0.5% compared to the global cryptocurrency market
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NFTs
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Increased trading volume compared to the second half of 2022
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Appears to have been driven by increased activity at Blur at the beginning of the year
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However, the floor price of many NFT collections has declined year-on-year
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NFT performs poorly compared to the overall market
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Games
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Broadly benefited from rising prices, broader market recovery
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Over 67% built on BNB Chain, Ethereum, and Polygon
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VC investment
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Reduced overall trading activity due to decrease in VC funding
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The infrastructure sector attracts the most investment, followed by gaming/entertainment and DeFi.
AI will probably be a part of the hype trend in the 2025 bull rush. If it hasn't already passed.
As we look ahead to 2025, it's evident that the cryptocurrency landscape will continue to evolve, shaped by advancements in technology and shifting trends. After witnessing the rise and fall of ICOs, the surge in small-cap coins, the NFT frenzy, and the emergence of the metaverse, it's natural to wonder what the next big trend will be. One significant factor to consider is the Bitcoin halving in 2024, which could lead to new dynamics in the crypto market. A strong contender for the next trend could be the integration of AI (Artificial Intelligence) into the cryptocurrency space.
Some of these points are written from the perspective of an average user outside of the crypto-space. It is in my opinion that true integration will happen when people can as easily use crypto as they can use a home computer or a smart-phone. It still feels as though you need a technical knowledge of crypto to use it effectively and safely.
The potential of AI in cryptocurrency is vast, and its application can be seen in various areas:
- AI-Driven Trading Strategies: As the market continues to mature, we'll likely see an increase in AI-powered trading platforms and algorithms. AI can analyze vast amounts of data, recognize patterns, and make informed decisions in real-time. This could lead to more efficient and profitable trading strategies for both institutional and retail investors.
- Decentralized AI Networks: We might witness the rise of decentralized AI networks, where AI models are distributed across nodes on blockchain platforms. These networks could leverage the power of distributed computing to perform complex AI tasks, like data analysis, machine learning, and pattern recognition, while ensuring data privacy and security.
- AI-Backed Crypto Projects: In the coming years, projects may emerge that combine AI and cryptocurrencies to create innovative solutions. For instance, AI-powered prediction markets that allow users to bet on the outcomes of real-world events could gain popularity.
- AI-Generated NFT Art: NFTs could see a resurgence with the integration of AI-generated art and means of owners. AI artists could create unique and dynamic NFTs, opening up new avenues for digital creativity and expression.
- Smart Contracts and Oracles: AI-powered smart contracts and oracles could streamline and enhance the capabilities of blockchain platforms. These intelligent contracts could autonomously execute actions based on AI-generated data, making them more adaptable and self-executing.
- AI-Powered Security and Fraud Detection: With the growing complexity of the crypto landscape, AI could play a significant role in enhancing security measures. AI algorithms could detect fraudulent activities, protect user identities, and secure transactions, thus bolstering trust in the crypto ecosystem.
- AI for Personalized Financial Services: AI-powered platforms could provide personalized financial services tailored to individual crypto investors' needs. These services could range from portfolio optimization to risk management, helping users make informed decisions.
As we delve into this potential AI-crypto future, it's crucial to recognize the challenges that lie ahead. Privacy concerns, AI bias, regulatory hurdles, and potential centralization issues may need to be addressed to ensure a sustainable and inclusive future for AI and cryptocurrencies.
The crypto world is ever-changing, and while AI seems poised to be the next frontier, surprises are always possible. The best way to navigate the evolving landscape is to stay informed, engage in thoughtful discussions, and be open to technological innovations that may shape the world of cryptocurrencies in the coming years.
What are your thoughts on the potential integration of AI into the cryptocurrency space in 2025? Do you foresee any other trends that could disrupt the crypto market post-2024?
GiveAway Event
What happens if the Black Rock ETF gets rejected?
Everyone can remember how good sentiment was when the announcement was first made. Then the SEC rejected the initial application, although it turned out they only asked them to refile the application and change some small details. Despite this there was a big dump down to 26,000,
BlackRock’s SEC ETF Approval Record is 575 to 1, and they are known to be one of the most powerful and influential companies in the world. But we also know the SEC have rejected Bitcoin spot ETFs before. Gary Gensler may feel he needs a win after recent events in the XRP case.
In the unlikely event the Black Rock ETF gets rejected, I could see sentiment shifting very quickly. The Black Rock ETF news has been the most positive narrative and market catalyst we've had this year, and is almost solely responsible for getting Bitcoin up to, and keeping it at, around $30,000.
If the ETF is rejected Bitcoin would be likely to revisit 20-25,000 range, which might not be so bad alone, but we all know what would happen to ETH and the alts. Some or even most alts are already 90-95% down from ATHs and still can't catch a bid. It would be a bloodbath. Are you prepared for that?
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