As the world greets a new year, I dedicate my holidays to reading research and sharing highlights with my subscribers.

Today, I'm focusing on the latest report, "The Year Ahead for AI and DePIN in 2025" from Delphi.

Read the report summary on my Substack.

When TON's price rises, staking TVL tends to fall, suggesting that investors withdraw tokens from staking to sell them.

Recently, staking TVL hit a new low, coinciding with what appears to be TON's local price bottom.

The BTC supply on layers chart reminds me of the DeFi TVL chart across chains in 2021.

Two core players, WBTC and BTCB, dominated at the beginning of the year. Sliced pie today, with WBTC's dominance already below 50%.

Current ranking:
• WBTC (BitGo)
• BTCB (Binance)
• cbBTC (Coinbase)
• LBTC (Lombard)
• SolvBTC.BBN (Solv)

Source: BitcoinLayers

Ethereum's relevance was under pressure in 2024, with competitors outpacing its innovation and raising doubts about its leadership and vision for decentralization.

The delayed Dencun upgrade missed key opportunities, as trends like the meme coin craze had already shifted to Solana.

The master list of potential TGEs in 2025 ↓

Blockchains:
• Linea | Probability ▨▨▨▨⛶
• Base | Probability ▨⛶⛶⛶⛶
• Monad | Probability ▨▨▨▨▨
• Berachain | Probability ▨▨▨▨▨
• Story Protocol | Probability ▨▨▨▨⛶
• Sonic | Probability ▨▨▨▨▨

BTCfi:
• Babylon | Probability ▨▨▨▨⛶
• Solv | Probability ▨▨▨▨▨
• Lombard | Probability ▨▨▨⛶⛶
• Ignition | Probability ▨▨▨⛶⛶
• Corn | Probability ▨▨▨▨⛶

Infrastructure:
• Particle | Probability ▨▨▨▨▨
• Pumpdotfun | Probability ▨▨▨▨⛶
• Symbiotic | Probability ▨▨▨⛶⛶
• Karak | Probability ▨▨▨⛶⛶
• Rabby | Probability ▨⛶⛶⛶⛶
• Sentient | Probability ▨▨⛶⛶⛶

DeFi:
• KelpDAO | Probability ▨▨▨▨▨
• Spark | Probability ▨▨▨▨⛶

NFTs:
• Azuki | Probability ▨▨▨▨▨
• Doodles | Probability ▨▨▨⛶⛶

Other:
• Polymarket | Probability ▨▨▨⛶⛶
• Kaito | Probability ▨▨▨▨⛶
• DeBank | Probability ▨▨⛶⛶⛶

What other projects you'd add to the list?

USDC transfers surged past $15T in 2024, propelled by Solana, Ethereum, and Base.

Solana dominated initially but saw a decline as MEV bot-driven trades waned.

The top 10 stablecoin transfer volumes of 2024 showcased Solana and Ethereum leading the way, with emerging chains like Base making significant gains:

• Solana – $10.5T
• Ethereum – $7.8T
• Tron – $5.4T
• Base – $2.3T
• BNB Chain – $899B
• Arbitrum – $704B
• Polygon – $255B
• Avalanche – $246B
• Optimism – $228B
• TON – $38.7B

Finding quality and helpful content on CT is not easy.

To simplify this quest, I've joined @curatedcrypt0 as a core contributor.

Here's the simple idea:

• @curatedcrypt0 aggregates the most valuable content daily in research, news, and investment categories.

• Once a week, there's a comprehensive newsletter with insights for everyone, from traders to airdrop farmers.

Make sure to follow @curatedcrypt0; you won't regret it.

Additional links:
X (Twitter)
Substack

Grayscale Research unveiled their Q1 picks for high-growth potential tokens, based on upcoming catalysts and market trends.

• Newly added: HYPE, ENA, VIRTUAL, JUP, JTO, and GRASS.

• Removed: TON, NEAR, Stacks (STX), Maker (SKY; MKR), UMA, and CELO.

Binance reached $31B in stablecoin reserves, a fivefold increase from June 2023.

This growth reflects heightened buying pressure and active investor positioning.

In 2024, Tron processed 749.5 million USDT transfers, averaging 2.05 million daily.

The total transfer volume hit $5.46 trillion, marking a 48% increase from 2023.

During the last few weeks, I’ve been obsessed with thoughts about our AI-centric future.

The more I think about it, the more unanswered questions keep surfacing.

Here’s an article from me on our AI Future.
Not much crypto related, but impotrant nevertheless.