Panel 1: Inventory of major events in 2024 Question 1:

Bitcoin broke through the US$100,000 mark, the MEME sector exploded, and the crypto market ushered in a large number of new investors. In 2024, many tracks will see general growth. Can the guests here help us review and analyze the major events in the encryption circle in 2024, their impact on the market, and the reasons behind them from the perspective of focusing on the track?

4E PR Manager Ann

At the beginning of the year, the US SEC approved the listing of Bitcoin spot ETF. Investing in Bitcoin has become as convenient and compliant as buying US stocks, and the funds are sustainable. Inflows have fueled this BTC bull run. Trump won the election at the end of the year and his crypto-friendly stance pushed Bitcoin to the $100,000 mark.

amber.ac Head of Accelerator Yukun Hao

Bitcoin will be the largest beta in the industry in 2024, and everyone has truly experienced the benefits brought by BTC. At the same time, the emergence of AI technology has brought disruptive innovation to the era, and the integration of Crypto and AI has made breakthroughs this year. In addition, the ideology of the times has shifted towards sovereign individuals and the underlying logic has changed, which will bring new opportunities to the industry.

Uweb Co-founder Romeo

The source of funds will change in 2024, and the operations of listed companies such as micro-strategy will have an important impact on the market. The new accounting standards in the United States allow listed companies to include the fair value of crypto assets on their balance sheets, which will attract more listed companies to participate and is expected to bring greater miracles to the market in 2025.

Question 2:

Bitcoin’s growing acceptance as a legitimate asset class has also played a positive role in legalizing and mainstreaming the entire crypto industry. What significance does the approval of a Bitcoin spot ETF in 2024 have on the Bitcoin market and the entire crypto industry? Can you make a bold prediction about what other targets may be included in the spot ETF list in 25 years?

4E PR Manager Ann

The approval of the Bitcoin spot ETF has opened up institutional bullishness, driving up prices in the crypto market and paving the way for other cryptocurrencies to enter the mainstream market. ETFs for cryptocurrencies such as Solana and XRP are expected to be approved in 2025.

Waterdrip Capital Investor Elaine

The approval of Ethereum and Bitcoin spot ETFs has increased market acceptance of cryptocurrencies. Solana has deep participation from Wall Street capital, so its ETF has a high probability of being approved. In addition, some of Grayscale Trust’s targets, such as Ripple (XRP) and ADA, have also attracted attention. There is also the possibility that projects like uni, if related problems are solved, may also be listed as having a business model that Wall Street can understand. List of ETFs.

Youbi Capital Investor Jims

The approval of the Bitcoin ETF is more instructive than substantive. It opens the door for institutions to buy Bitcoin and increases the attention of the asset. In the future, more institutions may pay attention to blockchain industry technology. At the same time, the concept of index is also worthy of attention, and some small currencies can be packaged into better statistical targets.

Question 3:

The acceleration of the 2024 US election has brought cryptocurrency into the discourse system. Trump will be inaugurated next year. What impact will this have on the market trend? What measures may be introduced in terms of market supervision? What will the macroeconomic situation of the entire world be like next year, and how will this affect the crypto market?

Waterdrip Capital Investor Elaine

After Trump won the election, his attitude toward cryptocurrencies The stance may make Bitcoin a strategic currency reserve, which will arouse global popularity and push the price of Bitcoin to rise further. In the future, Bitcoin is expected to benchmark gold, and its valuation may reach US$1 million.

amber.ac Head of Accelerator Yukun Hao

The price is affected by the capital chain. It is important to pay attention to the underlying liquidity indicators. Market sentiment also has a great impact on the price. Regulatory compliance is an important direction for the development of the industry. With the improvement of supervision, the industry will move to a new level, and it is only a matter of time before asset prices respond.

Youbi Capital Investor Jims

Although the market trend is difficult to predict, it should generally be upward, because factors such as the advancement of ETFs indicate that there are still opportunities for the market to rise, but it is affected by many factors. The top is hard to pin down. In terms of supervision, relevant regulations may be revised after Trump takes office. For example, companies including Bitcoin in financial reserves are worthy of attention. Some new developments may appear in the future, such as clearer dividends and encryption to solve financing difficulties. Macroeconomically, the trend of U.S. stocks is difficult to predict, but there is a possibility of market adjustment, and wealth transfer may become a trend rather than a simple increase in wealth.

Panel 2: 2025 Market and Trend Analysis Question 1:

The bull and bear trend of the market has always been the issue that investors are most concerned about. I would like to ask the guests, which stage of the bull market are we currently in? What will be the specific market situation at the upcoming first critical time point, that is, before and after Trump’s official inauguration on January 20, 2025? How long will the bull market last? How much did you see in Bitcoin this time the bull hit?

Data Analyst Crypto_Painter

The market does not need to clearly divide the bull market and the bear market, but should pay attention to the current situation. The current changes in chip distribution indicate that market volatility may intensify, and large fluctuations may occur. Eventually, the market may fluctuate upward or downward, and the amplitude of fluctuations will increase.

Independent trader Miki Trader

Judging from the weekly level MA60 moving average of trading tools, the current Bitcoin marketIn a positive state, prices not falling below this moving average indicates the health of the larger cycle. However, the Bitcoin market is different from previous years. It is moving more steadily, similar to the trend of gold or Nasdaq. It may fluctuate widely in the future for most of the time, but the long-term trend is still upward.

Independent researcher Dale

Judging from the main rising wave trend, it is currently at a high level and fluctuating. The market will rise after the election. The real climax will be when Trump takes office on January 20, which is Q1 next year. . Historical data shows that risk assets usually have good expectations within 100 days after the U.S. president takes office, but after March next year, we need to pay attention to the U.S. economic situation, unemployment rate, etc. From a macro perspective, the current market is similar to the end of 19 and early 2020, but with the addition of the general election, the market sentiment is FOMO. Then if there is a recession in Q2, a black swan event similar to the 312 incident in 2020 may be a bargain hunting opportunity.

Question 2:

The current macro risks are still the biggest uncertainties in the market. Affected by the rebound in inflation and the imposition of tariffs, the market has generally lowered expectations for the Federal Reserve to cut interest rates next year, and some Wall Street institutions have even given forecasts to start raising interest rates in the second half of next year. Next, I would like to ask the two guests, what is your judgment on the macro level? How will this impact the crypto market? In this case, what should investors pay attention to in terms of trading? What trading strategies can be implemented?

Blockchain lecturer at the world's top 10 universities and currency circle OG Dr Hugo

Personally, I think it is unlikely to raise interest rates, but the rate of interest rate cuts may slow down. Macroeconomics has a diverse impact on the crypto market. Bitcoin is affected by macro factors because most of its players are large financial institutions, and Trump may implement Bitcoin strategic reserves. In the long run, Bitcoin has greater room for growth, and investors can Consider fixed investment or long-term holding.

Crypto researcher Claude

The probability of raising interest rates is not high. The market has already expected an interest rate cut, and stopping QT (quantitative tightening) will have a greater impact on market liquidity. If the first quarter of 2025 Or stopping QT in the first half of the year will be a good thing. In addition, interest rate cuts may prompt more funds to enter the crypto market, and investors can pay attention to the flow of funds. In terms of trading strategy, you can focus on leading assets and adjust strategies according to market hot spots and emotions. At the same time, embracing Bitcoin is still a relatively stable choice.

Question 3:

With Trump taking office and the U.S.’s regulation of encryption gradually becoming clearer, from a U.S. perspective, which tracks do you think this will mainly benefit? What's the reason? What projects are you optimistic about in these tracks?

Independent trader Miki Trader

Focus on the compliance sector, including projects listed on U.S. exchanges and where funds can participate; in the RWA sector, as the market shifts to compliance, more RWA assets Possible inflow; MEME sector, which will become a larger framework with more subdivisions and opportunities, can look for opportunities in the primary market, focus on hot spots and projects with good liquidity in the secondary market, pay attention to the continuity of hot spots, and adjust transactions in a timely manner Strategy.

Encryption researcher Claude

Trump mainly benefits the encryption market and companies that comply with US regulations. You can pay attention to US compliance exchange listing opportunities, such as circle; pay attention to the gray sector and related assets; at the same time, the real estate and energy fields in RWA may have opportunities during the interest rate cut cycle, but be aware that related projects are affected by real asset companies, and you need to pay attention to compliance regulatory issues.

Question 4:

In 2025, what technological innovations do you think will appear in the blockchain industry? What related Alphas will be spawned from this? Which tracks and projects can investors focus on?

Data analyst Crypto_Painter

is optimistic about the direction of combining blockchain with the application of real-world life, such as the combination of traditional finance and blockchain finance. Blockchain technology innovations in each bull market mostly provide financing convenience and channels. Investors can focus on projects that can attract more liquidity. At the same time, they should be aware that popular projects in the previous bull market may no longer be popular in the next round.

Blockchain lecturer at the top 10 universities in the world, currency circle OG Dr Hugo

Technological innovation is difficult to predict, but business models will have new ways to play. AI agents are a hot topic at the moment, and will continue until at least the first quarter of 2025. In the long term, the integration of RWA and finance is worthy of attention. At the same time, there will be new ways of playing in the defi field, the essence of which is value transfer, such as projects such as Hyperliquid and centralized investment strategies. Platform etc.

Independent researcher Dale

Pay attention to the dominance of US capital, and financial sentiment affects the crypto market speculation. At the same time, keep learning, pay attention to new opportunities, and do not underestimate emerging tracks, because new changes in the market may bring opportunities for wealth growth.

Panel 3: 2025 Encryption Project Development and Speculative Questions 1:

Among the existing public chain landscape, who is most likely to stand out in the public chain boom in 2025? What's the reason? For example, in terms of technical advantages, application innovation, embracing craze, or the friendliness of the Meme community, etc., invite guests to talk about it.

Bouncebit COO YC

Technological innovation is very important. Projects need to be favored by large capital and conform to the main theme of the industry cycle. You can pay attention to projects with strong consensus such as movement. The leading investment situation is relatively Good reference indicator.

APOLLO Lead Peter

The project has experienced the test of cycles, the community is stronger, and it is confident in its development in 2025. The memecoin explosion attracts attention. New technologies will be launched next year to improve blockchain performance, such as increasing transaction volume, slowing down delays, and enhancing network stability and scalability. At the same time, there are opportunities to explore the liquidity and income of Bitcoin on the chain. Apollo will make arrangements in this regard and cooperate with institutions to promote the development of Bitcoin on the chain. It is expected that Bitcoin will be more widely used on the chain next year.

Star AI Allen

AI agenThe t track is valued by mainstream blockchains. It can create more AI assets for C-end users on the blockchain, bring more users and interactions, and enhance the value of the underlying tokens, such as digital people, agency transactions and other application scenarios. . In 2025, the actions of many major outsourcing companies in the AI ​​field will bring continuous impact and opportunities to the track. The project itself is also exploring directions such as combining AI agents with games. The combination of AI and defi can empower two-way, and we are optimistic about the development of related tracks. .

Question 2:

As a battleground for military strategists, what will be the development trend of stablecoins in 2025? Will there be a dark horse born? There are differences in the development paths of stablecoins in regions such as Asia, Europe and the Americas. So how can the stablecoin market in different regions meet regulatory requirements and ensure its competitiveness in 2025? What will be the future development of compliant stablecoins? Are there any competitive application scenarios for compliant stablecoins?

Curve Contributor Haowi.eth

From a relative concept, the living space of globalized, centralized stablecoins with assets placed in traditional financial infrastructure will shrink relative to decentralized stablecoins. , due to the tightening of regulations in various countries. The application scenarios of compliant stablecoins are limited. For example, USDC has limited liquidity outside Coinbase, but decentralized stablecoins still have advantages from the perspective of on-chain application and settlement. We are optimistic about decentralized stablecoins in the long term.

StakeStone Core Contributor BlueWharf

The stablecoin track has different categories. In the strict sense, the issuance and liquidity of stablecoins (such as USDT, USDC, etc.) are the key, and supervision has been strengthened. New entrants need to embrace regulation, but face fierce competition. The essence of interest-bearing stablecoins (such as USDE, etc.) is asset management services. The track is developing rapidly, and the underlying assets may expand in the future. The competitive advantage lies in asset management capabilities.

Question 3:

With changes in the regulatory environment and the accelerated integration of traditional finance and crypto-assets, what do you think of the future development of innovative financial products such as DeFi, BTCFi, and PayFi? Which of the above tracks are you more optimistic about? In your opinion, as an innovative project with more than one track, what aspects should be considered most during the development process? Does your project have any development plans for the above tracks in 2025?

APOLLO Lead Peter

Optimistic about DeFi and BTCFi related parts, there are opportunities to explore Bitcoin income, more Bitcoins will be put on the chain, and its income will be transparent and come from real business. In 2025, Apollo will focus on improving the security and stability of Bitcoin on the chain, providing users with liquidity income solutions through custody or user independent operation, while cooperating with other projects to improve on-chain transactions and project performance, paying attention to Bitcoin The overall currency flow direction and the development of Solana and other developments.

Bouncebit COO YC

Follow the RWA track, combining on-chain and off-chain assets for product innovation, such as integrating U.S. bond products into quantitative asset management products, providing users with arbitrage benefits and supporting the entry of large funds. Currently, there is no similar direction in the market, and I believe this is a good opportunity. , the project will be deployed in aspects such as BTCFi and PayFi. It is expected to launch blockbuster products next year to solve existing industry pain points and improve asset liquidity. It will focus on Bitcoin in the early stage and may expand to other leading blockchains in the later period. It will also be based on customer needs. Incubating related projects is expected to bring new changes to the industry.

StakeStone Core Contributor BlueWharf

BTCFi mainly includes three meaningful aspects of BTC on-chain, BTC analysis and BTC on-chain lending, but the limited liquidity of BTC on the chain affects related DeFi develop. In terms of PayFi, the rise of high-performance public chains has brought opportunities for upgrades in the payment business. StakeStone will have products next year to improve the performance and friendliness of the payment business, and is optimistic about the development of the payment field next year.

Star AI Allen

is optimistic about the DeFi track. AI can improve the efficiency of asset issuance and make asset issuance more convenient and diverse. However, AI assets currently have value fluctuations. DeFi needs more standard asset types, and AI can help convert them into mortgage protocols, etc., enhance asset liquidity and durability, and achieve two-way empowerment. Regarding BTCFi, we currently see the TGBTC project officially launched by TG, but its development requires further observation of the micro-innovations and gameplay of DeFi protocols on other chains.