Dr. Han defined that the blockchain trade has made exceptional enhancements and technological developments to date, enhancing the effectivity of blockchain. Moreover, in recent times, governments and regulators have additionally begun to acknowledge the significance of blockchain and are working to create a supportive setting for the trade to proceed to thrive. Increasingly customers are adopting blockchain expertise each day, making the expertise's person base extra various and influential. Presently, extra establishments are displaying curiosity in blockchain expertise, proving that the trade is turning into extra mature and secure.

Dr Han’s speak lined the evolution of cryptocurrencies throughout seven completely different areas: launch, token/coin, trade/buying and selling platform, buying and selling quantity, market cap, chain and customers.

Dr Han stated initially, Bitcoin was mined utilizing computer systems, then altcoins borrowed the identical thought, after which blockchain initiatives started to be launched utilizing ICOs, IEOs and IDOs.

1. ICO It pioneered a brand new wave of cryptocurrency fundraising however has seen its reputation decline resulting from regulatory scrutiny and market evolution.
2. IEO Credibility is strengthened by way of established exchanges, offering a safer and extra dependable platform for buyers and initiatives alike.
3. IDOs Tasks can now launch immediately on decentralized exchanges, democratizing entry for members, reflecting a shift in direction of a extra decentralized, community-driven method.

Transferring in direction of community-driven launches

Group-driven launches are a distinguished development within the cryptocurrency trade. For instance, meme cash garner vital consideration and participation as a result of they depend on robust neighborhood assist and viral advertising. Moreover, ICO launches have declined considerably because the trade shifts to extra community-focused strategies reminiscent of airdrops. This shift alerts a maturing market the place neighborhood participation is more and more prioritized.

The tokens/cash of curiosity had been beforehand BTC and ETH, then moved to stablecoins in 2017. Then centralized trade (CEX) tokens grew to become fashionable. DeFi adopted in 2020, and GameFi in 2022. Now meme cash are fashionable (though they’ve a protracted historical past so far). There has additionally been a dramatic improve within the variety of tokens issued annually.

Buying and selling platforms present safety and liquidity to tens of millions of individuals around the globe. Solana and Base are fashionable decisions for brand spanking new token launches resulting from their cost-effectiveness. Dr. Han famous that trade veterans nonetheless bear in mind the launch of Mt. Gox and its subsequent hack, in addition to the rise and fall of FTX. Earlier than 2018, it was comparatively low cost to launch a centralized trade (CEX). Nevertheless, since 2018, this has develop into tougher as competitors has elevated and limitations to entry have risen. Conversely, the decentralized trade (DEX) panorama has develop into extra accessible and the prices of launching a DEX have additionally develop into decrease.

After the summer time of DeFi, many extra DEXs have launched. Their market share in comparison with CEXs continues to be pretty small, however it’s rising. CEXs nonetheless dominate, with a better share of total buying and selling quantity.

Buying and selling volumes for cash outdoors the highest 10 are declining, as buying and selling volumes are concentrated within the high cash. Dr. Han warned these shopping for smaller cash to watch out as there will not be sufficient liquidity in the event that they need to promote later. Total, buying and selling volumes are nonetheless concentrated in BTC, ETH, and stablecoins.

Dr. Han acknowledged that BTC's market cap is near FB's and predicted that BTC will surpass Fb's market cap in a yr or two. From 2022 to 2023, BTC's market cap decreased as a result of bear market, nevertheless it has elevated this yr. BTC nonetheless dominates amongst different tokens/cash, accounting for greater than 50% of the cryptocurrency market cap.

Blockchain serves as infrastructure for total industries. Presently, Solana is dominating and is on the verge of overtaking ETH as the most well-liked blockchain, which nonetheless boasts the very best DEX buying and selling quantity and TVL, and has essentially the most energetic builders.

Over the previous 20 years, the variety of web customers has elevated considerably. Nevertheless, whereas the general quantity is declining, the variety of cryptocurrency customers is rising a lot quicker. 11 years in the past there have been just one million cryptocurrency customers, however now everybody is aware of about cryptocurrencies and over 500 million persons are thought-about cryptocurrency customers.

Dr. Han concluded by saying that whereas blockchain expertise is advancing, it’s nonetheless comparatively new and knowledge suggests we’re on the daybreak of an period of revolution. He emphasised that because the trade continues to evolve, it is going to develop into more and more essential to construct connections and foster collaborations. Dr. Han known as on trade leaders and new entrants to proceed to push the boundaries and discover the huge potential of blockchain expertise.

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