Zach Anderson
Nov 04, 2024 14:06
OKX Ventures emphasizes investments in blockchain ecosystems and AI technologies, focusing on Bitcoin, Ethereum, and innovative projects like zkLink and Monad in its Q3 2024 report.
In its Q3 2024 report, OKX Ventures has highlighted a strategic focus on promising projects within leading blockchain ecosystems, including Bitcoin (BTC) and Ethereum (ETH), as well as advancements in AI technologies. According to OKX Ventures, the Federal Reserve’s recent rate cuts have positively impacted decentralized finance (DeFi) protocols, enhancing the macroeconomic environment.
Industry Insights
Bitcoin’s long-term outlook remains robust, with substantial inflows into spot ETFs totaling $21.3 billion. Ethereum’s network stability is anticipated to improve with the upcoming Pectra upgrade, boosting security and efficiency. The combined utilization rate of stablecoins USDC, USDT, and DAI on major lending platforms has reached 87%, the highest since June 2024, indicating a revitalization of the crypto credit market.
Public chain ecosystems, notably Sui, have shown remarkable performance with a total value locked (TVL) exceeding $1.4 billion and daily trading volumes reaching $180 million. The concept of a “meme supercycle” has gained traction, significantly impacting AI development and blockchain transaction volumes.
Overview of OKX Ventures Q3 Investments
OKX Ventures’ Q3 investments targeted the Bitcoin ecosystem, Ethereum Layer-1 networks, AI, and blockchain data platforms. Key projects include zkLink, Monad, aPriori, Space and Time, and Prodia.
zkLink
zkLink, a multi-chain DeFi infrastructure, leverages Zero-Knowledge Proof technology to solve liquidity fragmentation and cross-chain transaction costs. Its Layer-3 zkEVM network facilitates seamless connectivity between Ethereum and its Layer-2 networks.
Monad
Monad is a high-performance Layer-1 blockchain supporting up to 10,000 transactions per second. It is fully compatible with the Ethereum Virtual Machine (EVM), offering low fees and fast confirmation times, enhancing scalability and decentralization.
aPriori
aPriori, built on Monad, optimizes blockchain transaction efficiency through a block space auction mechanism, reducing MEV-related spam and enhancing transaction predictability.
Space and Time
Space and Time is a decentralized data warehouse for blockchain applications, offering enterprise-grade SQL and APIs for seamless onchain and offchain data analysis.
Prodia
Prodia focuses on AI and distributed cloud computing, providing image and music generation services. It utilizes a distributed GPU network for cost-effective cloud computing, supporting diverse applications.
Conclusion
OKX Ventures remains optimistic about the market outlook, driven by macroeconomic boosts from rate cuts, Ethereum’s innovations, and the growth of public chain ecosystems like SUI. The quarter’s investments reflect a strategic focus on projects with unique competitive advantages, expanding application scenarios in blockchain and AI.
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