Research Summary

The report discusses the potential of decentralized AI in the crypto space, highlighting the synergy between AI and blockchain. It also covers the resurgence of gaming-related cryptos, the rise in volume of Bitcoin Ordinals and Solana DEX, and the potential of Solana’s DeFi ecosystem. The report further mentions the use of AI in games like Parallel and the role of projects like Bittensor in the AI-crypto convergence.

Key Takeaways

Decentralized AI: The Future of Crypto?

  • AI and Blockchain Synergy: The report suggests that the ousting of Sam Altman from OpenAI and his subsequent hiring by Microsoft has sparked discussions about decentralized AI. The synergy between AI and blockchain is highlighted, with decentralized data storage and computation networks, peer-to-peer markets for AI models, on-chain verification of videos, and value storage and transfer for autonomous agents being the key points of convergence.
  • Bittensor’s Role: Bittensor, a decentralized network for incentivizing and collaborating on AI models, is mentioned as an interesting project in this space. Its TAO token has seen significant growth recently.

Gaming Crypto Resurgence

  • Growth of Gaming Cryptos: The report notes the recent growth of gaming-related cryptos, with a total market cap of around $12 billion. The overlap between crypto users and gamers, along with the concept of digital assets in a digital world, is seen as a potential driver of crypto adoption.
  • Parallel’s Success: The sci-fi trading card game Parallel is highlighted for its successful incorporation of AI and autonomous agents, as well as its approval for release in the Epic Games store.

On-Chain Analysis: Bitcoin Ordinals and Solana DEX

  • Bitcoin Ordinals Volume: The report notes a rise in the volume of Bitcoin Ordinals, inscriptions similar to NFTs on Bitcoin, with total volume on Ordinals marketplaces hitting an all-time high.
  • Solana DEX Volume: Solana DEX volume has also reached an all-time high, nearly 40% of Ethereum’s total volume over the past 24 hours. The report suggests that Solana DEX volume has grown from less than $200M per week in September to over $2B last week.

Solana’s DeFi Ecosystem

  • Solana’s Potential: The report suggests that Solana and its ecosystem have significant potential, especially with the upcoming airdrop season. The author expects many new users to experience DeFi for the first time on Solana.

Actionable Insights

  • Investigate the Potential of Decentralized AI: The report suggests that the convergence of AI and blockchain could lead to significant developments in the crypto space. Projects like Bittensor could be worth investigating for their potential in this area.
  • Explore Gaming Cryptos: With the resurgence of gaming-related cryptos, there could be potential opportunities in this sector. Games like Parallel that incorporate AI and autonomous agents could be particularly interesting.
  • Monitor Solana’s DeFi Ecosystem: The report suggests that Solana’s DeFi ecosystem could see significant growth, especially with the upcoming airdrop season. Monitoring this ecosystem could provide valuable insights.

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