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The launch of ChatGPT in November 2022 has opened the eyes of various industry players to AI large language model. This frenzied dynamic permeated the Crypto space, and this article aims to introduce the development of AI, its current status, and the industry that has emerged from the combination of AI+Crypto.

June’s crypto market cap declined by 7% due to negative news and lack of catalysts. TVL growth adjusted to token price was positive, growing by 6.7%, outpacing the market cap decline. Wallet activity increased for Bitcoin (+26%) and Ethereum (+34%), and Bitcoiners owning ≥1 BTC surpassed 1 million.

There are still many unsolved problems in the current blockchain field. Among them, the difficulty of using blockchain, that is, the user experience (UX) of interacting with the chain, must be the most criticized area by the public.

May 2024 was a positive month for the crypto market, with some catalysts such as the FIT21 bill, U.S. Presidential campaign and the sudden Spot ETF approval bringing a renewed bullish sentiment to the market.

The total crypto market cap increased 27% since the start of the year. Bitcoin nomination stands at 53% 78 crypto assets have a market cap higher than $1 billion. From January to April 2024, Bitcoin returned 5 times the S&P 500. Bitcoin’s Sharpe ratio is sitting at 3.

There has been a recent wave of discussion in the Bitcoin community about re-enabling opcodes such as OP_CAT, and Taproot Wizard has attracted a lot of attention by launching Quantum Cats’ NFT, claiming to have gotten assigned BIP-420. Proponents claim that enabling OP_CAT will realize “covenants”, and thus bring smart contracts or programmability in Bitcoin.

In an increasingly digital world, investors face challenges in engaging meaningfully with real-world assets. A recent report by HashKey Capital titled “DePIN Based RWA” offers an innovative solution by advocating the concept of tokenizing real-world assets through Decentralized Physical Infrastructure Networks (DePINs). This groundbreaking approach allows for unprecedented transparency and liquidity while reshaping global asset management.

The Liquid Staking Tokenized Finance (LSTfi) space is poised to become one of the most significant narratives in 2024. As Liquid Staking continues to expand, so do the opportunities and use cases in the DeFi space that utilize these liquid staking tokens.

As one of the most active crypto VCs, HashKey Capital regularly analyzes every Web3 sector internally. In the New Year of 2024, we “open source” our internal sector analysis and insights as our contribution to the industry.