Source: Delphi Digital; Compiled by: Deng Tong, Golden Finance

1. BTC has more room to rise

- BTC continues to comply with Delphi’s cyclical strategy, which predicts that BTC will hit a record high in the fourth quarter of 2024 new high.

- So far, every new BTC high has coincided with a monthly RSI breakout >70. The previous bull market didn’t stop until the monthly RSI crossed 90.

- BTC remains 1-2 standard deviations below the trend that indicates a top, according to the monthly price regression channel.

- Institutional interest and a loose regulatory environment may be the driving forces of this bull run.

2. Solana is just getting started

- Solana will continue to surpass Ethereum for one simple reason: superior user experience and better content. No token approval or token wrapping required. On Solana, it just works.

- SVM is the fastest growing alt-vm ecosystem and helps enhance network effects. Additionally, Anza, Firedancer and improved wallet infrastructure will continue to improve the user experience.

-@aeyakovenko’s vision of increasing bandwidth and reducing latency could help Solana maintain its edge as competition intensifies.

3. Resurrection of NFT

- We believe that NFT will make a comeback through a mixture of extreme emotions and fundamentals that do not match.

- While tokens are easier to trade, NFTs allow for uniqueness to be encoded on-chain. Heterogeneous assets such as fine art and wine may be tokenized into NFTs.

- NFTs have also experienced some significant wealth creation events.

The @pudgypenguins, @MiladyCult and @Azuki airdrops may spark other NFT projects to follow suit.

- NFTs are also more suitable for retail investors. Not everyone likes trading. NFTs are a friendly alternative to displaying culture and status.

4. DeFi becomes DeAI

- DeAI will fundamentally change the way we interact with DeFi. Agents will replace the front-end, helping users transact, exchange, find gains, and simplify how we interact with natural language processing.

- In the future most capital allocation decisions will be automated by agents.

@griffaindotcom is a pioneer in this area, but other DeAI projects are also gaining traction, such as @HeyAnonai.

5. AI agents become first-level encryption VC

- The future is unlikely to be PVP human transactions, but will be mediated by agents.Agents are able to monitor the market around the clock and process more data.

- Trading will become a race for computing power and unique data sets.

- By 2025, at least three agency frameworks will become decacorns.

6. High-throughput chains will drive innovation

- High-throughput chains will open up new opportunities and experiments in 2025.

- The main projects we are following closely are @HyperliquidX, @SuiNetwork and @monad_xyz, but there are other chains (like @berachain) worth keeping an eye on.

- @megaeth_labs is also a project worth watching, but we believe MegaETH will compete for market share with L2 rather than L1.

7. DePin’s comeback

- A large-scale DePIN project successfully achieved self-sufficiency, thereby promoting rating upgrades for the entire industry and triggering “fundamental” reflexive increases in other industries.

- While competition is fierce, DePin has the potential to disrupt wireless services (@helium), network infrastructure (@doublezero), mapping (@Hivemapper), healthcare and grid operations.

8. This will be the year of change for zkVM

- zkVM will improve the interoperability between rollups, thereby achieving seamless interaction between chains.

- zkVM will greatly expand the developer market as developers will be able to develop zk applications using other languages ​​such as Rust.

9. AI will bring new opportunities to GameFi

-AI-driven development tools can improve the production capabilities of game developers.

- AI NPCs are under development, with projects like InWorldAI aiming to become an AI NPC service provider for games.

- Open source initiatives like the @virtuals_io Game Framework and Eliza’s integration with Unreal and Unity could be game-changers for AI gaming.

10. Consumer DeFi is the next frontier

- 2025 is the year when crypto-native applications can fully invest in on-chain finance.

- zkTLS will allow sensitive web2 data to be transmitted on-chain while maintaining privacy. This opens up many possibilities, such as personalized agents, trust scores, and more.

- Revenue sharing stablecoins will expand as incentives align between issuers and distributors.