OKX Ventures Reports Steady Progress in Crypto Investments for May-June 2024

OKX Ventures has reported steady progress across multiple fields in its latest bi-monthly investment report for May and June 2024, according to OKX Ventures. The report highlights significant developments in the cryptocurrency market, driven by technological innovation and advancements in various sectors.

Continuous Efforts in Multiple Fields

According to OKX Ventures, the crypto industry is experiencing a “steady and positive” development trend. The approval of the Ethereum spot ETF by the U.S. Securities and Exchange Commission (SEC) on May 23, 2024, marks a significant milestone. If trading begins in July 2024, the scale and buy-in volume of the ETH spot ETF could reach tens of billions of dollars.

On-chain data shows slight stability, with Ethereum and Bitcoin's on-chain transaction volumes in May and June 2024 being $390 billion and $338 billion, respectively. The supply of stablecoins increased to $142.6 billion, and Ethereum burned 26.7k and 26.3k tokens in May and June, respectively. Meme-type assets maintained high popularity, especially on the Solana chain, where Meme transaction volume accounted for more than 50% of total transaction volume.

Infrastructure and Ecological Projects

The industry’s infrastructure is improving, with the number and total value locked (TVL) of Bitcoin Layer-2s growing. OKX Ventures notes the importance of native infrastructure, including artificial intelligence (AI), GameFi, and social networks. The TON ecosystem, supported by Telegram's 900 million active users, continues to grow, with TVL surpassing $700 million and multiple applications attracting over ten million users.

Security Concerns

On-chain security remains a critical issue, with losses from security incidents reaching $688 million in Q2 2024, a 37% increase compared to Q1. DeFi and public blockchains are the main targets for hacker attacks, highlighting the need for improved on-chain security measures.

Latest Investment Updates

OKX Ventures continues to invest in innovative projects across different sectors. Notable investments include Bedrock, Codatta, GoPlus, and Nubit.

Bedrock

Bedrock, the world’s first multi-asset liquid restaking protocol, secures users' digital assets with non-custodial solutions. It has introduced multiple restaking assets in collaboration with Babylon, EigenLayer, and IoTeX, enhancing security and boosting rewards for users.

Codatta

Codatta is the first decentralized data protocol that builds infrastructure for developers, protocols, and AI. It enhances data transparency and integrity in the crypto ecosystem by providing metadata annotation capabilities for blockchain addresses.

GoPlus

GoPlus offers a modular security layer for Web3, enhancing user security with comprehensive protection for every stage of the transaction lifecycle. It integrates with any blockchain platform and uses advanced AI-driven solutions for thorough risk analysis.

Nubit

Nubit is a secure and scalable Bitcoin data availability layer designed to expand Bitcoin’s data capacity. It aims to address bottlenecks in the Bitcoin ecosystem due to data throughput constraints, enhancing the scope and efficiency of the network.

The Market Outlook Remains Optimistic

Positive momentum is growing in the cryptocurrency industry, fueled by technological innovation, increased institutional investment, and advancements in the regulatory environment. More enterprises and institutions are adopting blockchain technology, developing decentralized applications, smart contracts, and decentralized finance.

Overall, the crypto industry is expected to continue growing through further technological innovation and financial inclusion efforts. OKX Ventures remains optimistic about the market’s prospects and is committed to supporting and investing in innovative projects.

Risk Warning and Disclaimer:

This article is for reference only. The views expressed do not represent the position of OKX. This article does not offer investment advice, recommendations, or solicitations to buy, sell, or hold digital assets. Holding digital assets involves high risks and may fluctuate significantly. Consult legal/tax/investment professionals for your specific circumstances.