In 2025, crypto investment will focus on the integration of AI and DeFi, the application of stablecoins, and the development of cross-chain ecosystems, bringing new growth opportunities to the industry.

Editor’s Note:
As the new year begins, the global investment landscape continues to evolve with emerging technologies and market trends. In this dynamic environment, how investors develop long-term strategies and assess and choose investment opportunities has become a widely discussed topic within and outside the crypto industry.

To address this, RootData, in collaboration with ChainCatcher, hosted this interview series, inviting leading investment institutions, including OKX Ventures, Bixin Ventures, and ABCDE Capital, to discuss the investment trends and recommendations for 2025.

What investment strategies and sectors are these institutions bullish on for 2025? What are the underlying reasons?

OKX Ventures:

In 2025, OKX Ventures will focus on driving the deep integration of AI, RWA, stablecoins, and emerging DeFi protocols. As blockchain technology matures, regulatory frameworks become clearer, and the global economy accelerates its digital transformation, these areas will play a crucial role in driving industry innovation and progress.

Our strategy will be based on supporting dual breakthroughs in Ethereum technology and ecosystem, while also continuing to focus on multi-chain ecosystems, including Bitcoin, Solana, Sui, as well as emerging public chains like Monad and Berachain. We aim to provide more options and possibilities for blockchain infrastructure and application scenarios.

Specifically, we believe that:

• The application of AI in blockchain will break traditional boundaries, becoming a core driver of innovation across industries, especially in the integration of smart contracts, decentralized applications, and AI agents.
• RWA will lead the diversification and compliance of blockchain assets, pushing traditional assets toward digitalization and enabling their circulation in DeFi and other blockchain applications. As the infrastructure of blockchain finance, stablecoins’ decentralization, cross-chain compatibility, and regulatory compliance will determine the stability and liquidity of future blockchain finance.
• In the DeFi space, we will focus on new liquidity models, modular architectures, and more efficient cross-chain solutions and user experiences (UX), providing better services to global financial users.

For more 2025 industry predictions and investment strategies, you can check out our release of “OKX Ventures Annual Report: 60+ Projects and 14 Major Trends Ahead》

AI Redefining the Internet Economy

The integration of AI and blockchain is redefining the economic structure of the traditional internet. Traditional models rely on a few internet giants controlling demand and content creators’ revenue through advertising or other means, but AI breaks this pattern. AI tools are now capable of generating and summarizing content, so users no longer need to click links to visit content providers, which undermines the traditional economic model for content creators.

However, AI cannot participate in market exchanges independently; it lacks the ability to operate and manage resources on its own. Blockchain provides AI with a decentralized transaction and data management mechanism, especially in building AI agents, where blockchain offers the self-management infrastructure. For example, AI agents can conduct transactions via cryptocurrency wallets, becoming independent market participants, and thus enhancing AI’s role in DeFi and other decentralized networks. In the future, over 80% of DeFi transactions might be completed by AI agents.

The global AI agent market is expected to reach $1.81 trillion by 2030, contributing around $16 trillion to the global GDP. The autonomy of AI agents is a key direction in current technological development. Traditional AI has mainly served as an auxiliary tool, but with advancements, AI is gradually shifting towards an “agent” role, gaining more decision-making and operational autonomy. For example, decentralized AI chatbots could build their fan base through decentralized social media, generate revenue, and manage assets with cryptocurrency. Furthermore, these AI agents could become fully independent business entities, creating unprecedented value.

As technology matures, AI agents will be able to better manage DePIN and other infrastructure networks. Their underlying technology, Trusted Execution Environments (TEE), allows AI to run independently, free from human interference. These agents coordinate through decentralized consensus protocols to ensure their activities and revenues are transparent and decentralized. The impact of AI on software development is also noteworthy. As AI agents can efficiently generate code and automate deployment, software development costs will significantly decrease. This change will accelerate blockchain application innovation and adoption, allowing more small projects to launch with lower costs and quickly iterate.

AI infrastructure, including frameworks for multi-agent interactions, is worth long-term attention. As AI agents become increasingly independent, ensuring their compliance and autonomy will be key indicators of their success. The investment opportunities in the current landscape primarily lie in the following areas:

• The automated combination of DeFi and AI

The current market size of DeFAI is about US$1 billion, which has huge room for development compared to DeFi’s US$150 billion. AI will improve the efficiency of the DeFi market through smart contracts and automated trading strategies. Areas such as automated trading, risk management, and liquidity allocation will become important directions in 2025. AI will enhance the trading algorithm of the DeFi platform and help the platform provide more accurate risk prediction and capital flow management.

AI will provide intelligent decision support for trading platforms such as DEX and derivatives by analyzing market dynamics, social media and on-chain data. Through real-time analysis of market sentiment, capital flow, opening interest, trading volume and other data, it provides traders with automated decentralized trading assistants. In addition, AI enables the wallet to become an intelligent and personalized transaction entity in addition to an asset storage tool. It can automatically optimize transaction routes, manage cross-chain bridging, reduce handling fees, monitor risks in real time, and prevent users from encountering potential fraud and bad projects. For example:

• Automated trading of smart contracts: AI will analyze data such as funding rates and market fluctuations, adjust trading strategies in real time, and further enhance market liquidity and trading efficiency.
• Risk management system: By automating the management of trading risks and users’ margin levels, it ensures that the DeFi platform remains stable despite large-scale transactions and fluctuations. Provide users with pre- and post-transaction data analysis and suggestions to help them make more informed decisions and improve their trading skills in complex markets.
• Agent to Agent payment: In the future, AI wallets and decentralized applications will be able to operate across chains. AI can optimize cross-chain transactions, asset management and risk control, making the payment experience for users and enterprises smoother. With the gradual liberalization of stablecoin supervision, “interoperable payment” by AI agents will become a norm.
• Decentralized AI economy, coordination and governance

As the agent’s PMF is gradually found, the multi-agent swarm intelligence and collaboration layer will receive more attention, promoting collaboration between more agents and forming an agent-agent economy. As more AI agents enter the decentralized economic system, how to coordinate the interaction between agents and establish an effective market mechanism will be an important aspect of future development.

• Decentralized AI governance model: AI will help DAO manage proposals and votes more efficiently through real-time data analysis support, making decision-making more intelligent and considering more variables. In the future, AI may become the governance subject of DAO, provide data-based decision-making, gradually replace the traditional voting mechanism, and promote the transformation of DAO into an AI-centered autonomous organization.
• Training and inference experiments: With the advancement of technologies such as model distillation, the AI ​​training platform will realize data sharing and decentralization of model training and inference through the blockchain. Through the improvement of coordination and incentive mechanisms, community members can jointly contribute data and computing resources to promote efficient and accessible AI models to run on edge devices and mobile terminals, further improving productivity.

From the user’s perspective, as these agents become more autonomous, they will ultimately form an agent-dominated workflow capable of automating tasks and significantly boosting productivity. Agents will begin using each other’s services, creating the desired outcomes for users through these services and interactions, thus addressing the fragmentation issue among AI agents.

• Reverse challenge and risk management

AI agents will play an active role in protocol governance, facing risks such as smart contract vulnerabilities, malicious attacks, technical failures, and the potential for the first AI-driven governance attack. Deepfake attacks have increased over the past year and are expected to grow by 50% to 60% in the future. Security-focused AI agents will find their PMF, and Trusted Execution Environments (TEE) will see exponential growth:

• Smart Contract Security: AI-driven static analysis tools will automate the identification of potential vulnerabilities in smart contracts, especially in code written in Solidity or Rust, improving developers’ efficiency in fixing these issues.
• Defensive AI: AI will not only detect attacks but will also enhance defense capabilities through real-time red team testing and vulnerability fixes, promoting the secure operation of decentralized projects and protocols.
• Smart Authentication/DID: AI will provide intelligent identity verification services by analyzing multidimensional user data, ensuring effective protection of user privacy in decentralized environments and solving the “Proof of Humanity” (PoH/PoP) issue.
• Privacy Computing & Data: Unique data sources will become a scarce resource, leading to an explosive growth of data markets. AI will improve the efficiency of privacy-preserving computations, particularly in encryption and zero-knowledge proof technologies, ensuring data privacy while offering efficient computation and data analysis.

RWA, Stablecoins, and New DeFi

By the end of 2024, the total market value of on-chain tokenized assets has surpassed $14 billion, with Ethereum capturing nearly 80% of the market share, becoming the core driving force behind the growth of this sector. RWA (Real World Assets) already constitutes over 20% of Ethereum’s on-chain assets (mainly high-credit assets such as U.S. Treasuries). As macroeconomic policies and regulatory frameworks stabilize, an increasing number of traditional financial assets are moving on-chain, offering higher yields and accelerating the maturation of DeFi.

The tokenization of RWA is a key strategic direction. Large asset management firms have recognized that by moving assets on-chain, they can achieve lower issuance and maintenance costs while increasing asset accessibility. As more traditional assets move on-chain, DeFi protocols are expected to gradually replace existing financial infrastructure, forming a new decentralized financial system.

The on-chain migration of traditional financial assets will lead to “capital outflows.” For a long time, DeFi has relied on the circulation of endogenous capital, such as on-chain lending via platforms like Maker or Aave and trading on DEXs. However, much of this capital originates from crypto-native assets, which are highly reflexive (i.e., capital quickly flows in and out as markets rise or fall).

On-chain activities related to RWA are expected to generate fees exceeding hundreds of billions annually. The inclusion of RWA brings external capital from traditional financial markets to DeFi. This influx not only improves DeFi’s liquidity and stability but also supports its diversification. Particularly in areas like lending, trading, and asset management, the tokenization of traditional assets on-chain can significantly reduce market volatility, enhance the predictability and stability of financial products, and attract more institutional investors. The tokenized treasury market has become a core component of the on-chain DeFi ecosystem, with a locked value exceeding $3 billion, accounting for 21.38% of the total RWA market value. We are particularly focused on the diverse applications of RWA, including stablecoins, in DeFi, providing stable liquidity and risk management tools for tokenized RWAs.

• The payment and settlement role of stablecoins

Stablecoins are no longer just a store of value in the DeFi ecosystem; their role has gradually expanded to become a core component of payments and settlement. As the global financial system undergoes digital transformation, traditional financial service providers and payment platforms are increasingly adopting blockchain technology. Stablecoins, as cross-chain payment tools, have become an integral part of the global payment system due to their programmability, low transaction costs, and high liquidity. OKX Ventures focuses on the following dimensions:

• Network Distribution and Penetration: The value of stablecoins lies in their wide range of use cases and cross-industry ecosystem penetration. The participation of merchants and users directly impacts the liquidity and market demand of stablecoins. Therefore, we place particular emphasis on projects that can achieve large-scale applications and cross-industry collaborations, such as stablecoin solutions supporting cross-border payments, supply chain finance, and other scenarios. We not only observe industry leaders like Circle and Tether but also pay attention to how emerging projects are expanding their market share through innovative network distribution mechanisms, accelerating their adoption in emerging markets.
• Compliance and Infrastructure Development: As financial regulatory frameworks gradually improve across the globe, compliance has become a key factor in the sustained growth of stablecoins. We focus on stablecoin projects that can operate under the legal frameworks of multiple countries and conduct in-depth evaluations of their investments in compliance infrastructure. Moreover, platforms offering “stablecoins as a service” with robust cross-chain payment support and compliance could become a core part of future financial network infrastructure.
• Innovative Applications of Stablecoins: The application of stablecoins extends beyond traditional payments and is showing significant potential in areas such as lending, derivatives trading, and cross-border remittances. We are particularly interested in projects that can drive market transformation through innovative applications in niche markets, especially in emerging economies and underdeveloped markets.
• RWA and the Platformization of DeFi

Protocols like Uniswap and Morpho are gradually evolving from single-protocol services to platform-based models, allowing stablecoins and other assets to flow more efficiently, further driving the scaling of DeFi. DeFi protocols are able to offer more flexible liquidity and customized financial products, not only providing more room for innovation for DeFi developers but also opening up more opportunities for the issuance and application of RWA assets, including stablecoins. Below are some key trends and opportunities:

• Cross-chain and Asset Integration: DeFi protocols that support cross-chain liquidity and integration of RWAs are becoming important players in the market. New protocols, through the incorporation of AI technology, are enabling more intelligent risk management, including automatic risk assessment, asset repricing, and dynamic adjustments to lending rates, ensuring market liquidity and asset security. At the same time, AI agents will become the core role in multi-chain validation networks, assisting in the widespread adoption and efficiency improvement of DeFi.
• BTCFi: As Bitcoin hits new all-time highs, institutional and regulatory interest continues to grow, creating opportunities for new breakthroughs for Bitcoin in DeFi applications. The current penetration of Bitcoin in DeFi is just 3% of its total market cap, but it could see a hundredfold increase in the future. The demand for Bitcoin-based yields is strong, and Bitcoin staking ETFs may also become increasingly popular.
• Platform Modularization: DeFi is evolving from single-protocol services to modular platforms, similar to the path taken by traditional SaaS platforms. By breaking down functions into independent, composable modules, DeFi platforms can provide shared liquidity, making capital allocation more efficient. They also offer developers flexibility to create customized lending protocols or exchanges, and by opening APIs and tools, they lower the entry barriers, attracting more participants.

As traditional assets gradually enter DeFi protocols, particularly with the help of stablecoins, the boundaries between traditional financial markets and DeFi will blur. DeFi protocols will provide more efficient financial services such as lending, clearing, and insurance for RWAs. RWAs, especially those backed by high-rated assets, will become the “engine” of the DeFi market, driving exponential growth in both market size and liquidity.

Pay Ventures:

Investment strategies for 2025

Our investment strategy at Bixin Ventures in 2025 will focus on the following points:

• Post-investment Empowerment: “Working for the Projects”

Over the past few years, Bixin Ventures has invested in over 100 projects. For those with potential, we provide more extensive support, such as whitepaper consultation and revisions, benchmarking against similar projects, market and competitor research, introducing media resources, writing investment research articles, and connecting projects with exchanges and other VC institutions. We don’t just provide funding; we work alongside the founding teams, helping the projects grow more effectively.

• Focus on Exit Strategies: Ensuring Capital Flow Back

Last year, the Federal Reserve began its interest rate-cutting cycle, injecting liquidity into global markets. At the same time, with the pro-Crypto Trump administration coming into power, we believe that favorable policies, such as Bitcoin reserves and stablecoin support legislation, will gradually be introduced.

These developments provide favorable external conditions for project exits. As such, we believe 2025 will be an excellent year for exits. Only with successful capital exits can we continue to support more projects in the future.

• Focus on Secondary Market and Promising Sectors

In 2025, our primary market investment strategy will be more cautious, taking into account the exit cycle, market rhythm, and the rotation of industries. We will focus on sectors with high potential, not limited to the Web3 space but also including traditional Web2 sectors like AI and biotech. By introducing different industries, we can hedge the investment cycle itself.

We will also keep an eye on opportunities in the secondary market, including AI-related infrastructure and applications, DeFi sectors (such as Lending, DEX, Restaking, LST, LRT, etc.), and US-political related tokens.

Sectors We Are Bullish On

• Artificial Intelligence (Web2)

As algorithms and data continue to mature, we are approaching a point of rapid development. We believe the time is right for AI to empower traditional industries, such as in autonomous driving, defense, and efficiency software. This sector holds enormous investment potential.

• Biotech and Pharmaceuticals

AI’s application in biotech can drive industry advancements, such as cancer screening, image recognition, and new drug development. We believe AI’s influence will bring numerous opportunities in this space.

• The Intersection of AI and Blockchain

The integration of AI with blockchain’s asset tokenization and liquidity offers a wide range of opportunities. We are focused on AI-related infrastructure, including AI-driven Layer 1 protocols, AI-powered compute networks, data management, and relevant applications such as AI agents, agent development frameworks, AI + DeFi, AI + gaming, and AI + social networking.

• Stablecoin-related Applications and RWA

With Trump and his team now in power, the previous opposition or ambiguous stance on Crypto is shifting, and many policies favorable to Crypto are expected. These policies will promote the development of stablecoins, RWAs, and related sectors.

• Decentralized Exchanges (DEX)

With the emergence of Hyperliquid, it has become increasingly clear that optimizing the underlying public chain and developing decentralized exchanges is a viable path forward. Compared to centralized exchanges (CEX), which are constrained by regulations across countries/regions, DEXs, including Spot and Perp, can naturally reach all corners of the globe with a higher ceiling.

• Gaming

Although the gaming sector has been somewhat overlooked recently, it has the potential to onboard a large number of users into the Web3 industry. This ability to drive mass adoption gives gaming considerable potential for future growth.

ABCDE Capital, Research Partner, Lao Bai

The logic is simple: AI is the biggest narrative both within and outside of the crypto space. Although the first wave of AI frameworks and agents is still quite simple, and many bubbles have burst, the next generation of more intelligent agents applied to DeFi or other sectors, along with the infrastructure and applications for agent collaboration, communication, cross-validation, trading, and governance, will definitely present opportunities.

ETH recently introduced the concept of Native Rollups, which is novel and should help empower and scale ETH L1. On Solana, hardware acceleration with Solayer, Magicblock, Soon, and other expansion layers, as well as the FireDancer new client, are likely to bring infrastructure opportunities to Solana as well.

RWA has gained momentum due to Trump’s administration, which has bought and supported tokens like WLFI, AAVE, Link, and ENA. It is clear that more policy-backed, compliant RWA tokenized assets will move on-chain in the near future.

Foresight Ventures, Co-Founder

Our investment strategy has always remained the same: discovering disruptive innovations with long-term value. To break it down further, we aim to find business models that solve big market demands with innovative approaches, technological breakthroughs that improve productivity, and tokenomics that change production relationships.

In terms of sectors, I believe the theme for this year will be infrastructure connecting DeFi and TradFi, as well as innovative crypto payment products or advantageous channels. We will be cautious about crypto AI, as it currently shows signs of overheating, and we must beware of trend-chasing entrepreneurship.

BTX Capital

In 2025, BTX Capital’s investment strategy will focus on three core areas: AI-driven blockchain applications, the scaling of RWA, and breakthroughs in next-generation blockchain infrastructure.

The logic behind these choices is that they lie at the intersection of three driving forces: technical maturity, market demand explosion, and the perfecting of regulatory frameworks. These areas have long-term growth potential and short-term feasibility.

(1) Deep Integration of AI and Blockchain

We believe that the combination of AI and blockchain will unlock far more value than either technology alone. AI can optimize blockchain efficiency and decision-making, while blockchain provides data trustworthiness for AI. We will focus on teams that have already validated the effectiveness of these technologies in real-world scenarios.

(2) Scaling RWA Applications

The core value of RWA is the combination of traditional assets with blockchain transparency and liquidity. We are optimistic about two types of opportunities: first, the on-chain mapping of standardized assets, which have high liquidity and clear compliance paths; second, the securitization innovation of non-standard assets. Overall, we focus on innovative solutions that can overcome regulatory and market entry barriers. Successful RWA projects will inevitably prove their compliance capabilities.

(3) Upgrading and Popularizing Blockchain Infrastructure

As user scale expands, the usability of infrastructure will become a key competitive factor. We focus on three areas: first, modular architecture, achieving high performance and low cost through layered design; second, innovation in user experience; third, cross-chain interoperability, ensuring that assets and data can flow seamlessly across multiple chain ecosystems.

What advice can you share for projects planning to finance in 2025?

OKX Ventures:

In 2025, new financial tools and structures for crypto financing will continue to emerge, and community-driven ICO platforms like Echo will provide founders with more innovative opportunities. The first piece of advice: leverage AI, become a seamless partner with AI early on, and fully utilize its potential to accelerate decision-making and iteration. Other suggestions include:

• Focus on solving specific problems and quickly launch MVPs.

  Don’t aim for large markets from the start. In the early stages, it’s crucial to focus on solving a small, specific problem. By using the product yourself and engaging with real users, you can focus on a small core group and gain deeper insights into user needs and pain points. This enables more efficient product iteration and minimizes distractions from market complexity. Launch your product early, gather user feedback, and validate core assumptions to avoid wasting time on excessive planning and overbuilding.

• Focus on the product and users, not over-relying on funding.

  For first-time founders in crypto, avoid getting obsessed with the speed of funding. What truly matters is the product and user experience. Often, the core competitive advantage of a product comes from user feedback and word of mouth. High-quality users are the best marketing channels. Therefore, don’t inflate product features or community size just to chase funding. Keep the product simple and focused, continue iterating and optimizing, and only then will you truly win the market.

• Practical token design, don’t hype it too early.

• Many teams focus too much on maximizing liquidity and short-term price during token issuance, often neglecting long-term community building. Start with a reasonable market cap and provide practical incentives for token holders. The value of the token should be supported by real use cases and a good product experience.

• Focus on developer ecosystem and community building.

  Build a healthy developer ecosystem and community, rather than relying on “fake activity” to maintain appearances on social media. Building a stable and sustainable ecosystem is more important than pursuing short-term market hype. The team and community’s long-term building capacity, whether there is strong developer support, and if there is systematic technical and financial input to drive project growth are key. Supporting the developer community will help elevate the project’s value and trustworthiness.

• Focus on the business model.

  The clarity of the business model is crucial for attracting investment. Once the product has a stable user base, you should start developing a commercialization path to ensure a continuous revenue stream. Whether it’s through transaction fees, value-added features, or token sales, find a business model that can weather market fluctuations and economic cycles. Optimize marketing strategies, product features, and resource allocation based on growth data to ensure the business model can operate stably in different market environments.

Bixin Ventures:

• Choose high-potential sectors

Just like big fish grow in a big river, selecting high-potential sectors is critical. High-potential sectors will attract a large number of entrepreneurs and capital, creating momentum and more opportunities. Smaller sectors are less likely to produce large-scale projects.

• Benchmark and leverage strengths

Identify the best projects in your chosen sector, conduct more research and analysis, and pinpoint their strengths and weaknesses. Then, use your creativity to inherit their strengths while improving their shortcomings, and heavily promote the improvements.

• Spend more time finding the “right” people.

Identify the core competencies required for the project and compare them with the existing team’s capabilities to pinpoint gaps. Then, find the right people to fill those gaps. During this process, focus not only on their professional skills but also on their creativity, sense of mission, passion, and focus.

ABCDE Capital, Research Partner, Lao Bai:

Control fundraising and burn rate. The market is no longer as receptive to high fundraising and high FDV as it once was. It’s crucial to raise funds and survive with a relatively low FDV.

Focus on the core or surrounding areas of the main sector and narrative, aiming to create projects with real users and real revenue. Last year, projects like HyperLiquid, PumpFun, Kaito, and GMGN were great learning examples.

If the sector is too competitive, consider thinking from a different perspective. For example, when everyone is focused on AI Agents or frameworks, consider the potential “water-selling businesses” for agents when thousands of agents are running on-chain in the next year, such as memory layers, communication layers, or collaboration layers between agents.

Foresight Ventures, Co-Founder:

Communities are becoming increasingly important, and funding structures need innovation. Distribute more to KOLs and communities, for instance, but remember that anyone unwilling to lock up their tokens is not truly part of your audience. Entrepreneurs also need to do enough work to make the community believe in their long-term value. Relying solely on discounts or token giveaways won’t create an effective community.

BTX Capital

For projects planning to raise funds in 2025, BTX Capital suggests building competitiveness in the following four areas:

(1) Clarify your value proposition. Ensure your project’s core innovation matches market demand and can clearly communicate its value. Avoid vague “disruptive narratives” and focus on quantifiable improvements.

(2) Design phased milestone systems. Break down the long-term vision into actionable short-term goals. Prepare detailed materials such as financial models, market analysis, and technical roadmaps to showcase execution ability and potential. Also, establish risk-buffering mechanisms, such as reserving 20% of funds to deal with extreme market fluctuations.

(3) Focus on long-term potential and find a differentiated niche. Investors care about sustainable growth models. Therefore, your project needs to demonstrate long-term competitiveness and differentiation. Showcase synergies with strategic partners, such as technical integration plans with mainstream public chains for infrastructure projects.

(4) Build strong industry connections and transparent project operations. Actively engage in industry events and build trust and recognition with potential investors and partners. At the same time, enhance trust by regularly disclosing on-chain verifiable data, such as TVL, user growth curves, and protocol revenue.

The success of 2025 will belong to projects that balance technical depth, compliance capabilities, and user value. Regardless of the sector, the core is to solve real pain points and continuously validate feasibility through phased results.

Disclaimer:

1. This article is reproduced from [Chaincatcher]. The copyright belongs to the original author [OKX Ventures, Bixin Ventures, ABCDE Capital, Foresight Ventures, BTX Capital]. If you have any objection to the reprint, please contact Gate Learn team, the team will handle it as soon as possible according to relevant procedures.
2. Disclaimer: The views and opinions expressed in this article represent only the author’s personal views and do not constitute any investment advice.
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