Original title: Summary for Taipei @aba_summit and The Open Summit by TON

Original author: DWF Ventures

Compiled by: Alvis, Mars Finance

Image source: DWF Ventures

After the 2024 Asian Blockchain Conference (ABS 2024) and TON Open Summit were held in Taipei, DWF Ventures, a subsidiary of DWF Labs, shared some views from the perspectives of market sentiment, crypto liquidity, VC consensus, TON ecosystem and Taiwan’s crypto community. The following is compiled by Mars Finance for readers’ reference.

Changing market sentiment

Narrative Change: The main narratives in the past three quarters (such as re-staking, parallel EVM, AI, BTC L2, etc.) have gradually lost their popularity, especially as the altcoin market has not yet fully recovered.

Back to basics: When the market becomes quiet, the community turns to more fundamental work, such as protocol design improvements, product construction, and real-world application promotion.

Cryptocurrency Liquidity

New Liquidity: The market is looking forward to the next large-scale liquidity injection to boost the industry, especially after the approval of Bitcoin and Ethereum ETFs failed to bring the expected new capital injection.

Altcoin Supply: Despite the increase in overall liquidity, it has not been able to keep up with the growth in altcoin supply.

Next liquidity catalyst: The next key influencing factors are the Fed’s interest rate cut and the US election.

VC Consensus

VC layout: Most VCs have slowed down their capital investment, but DWF Ventures is still actively looking for high-quality investment opportunities with reasonable valuations.

Interest in TON: Venture capital firms (including US venture capital firms) have expressed interest in the TON ecosystem and projects, but most are still evaluating areas and projects worth investing in.

TON Ecosystem

Binance listing: During the Open Summit, Binance listed TON tokens, which is a positive for the TON ecosystem. (Binance Launchpool and Super Earn will list TON)

Developer growth: In the past two quarters, the number of developers on TON has increased rapidly, especially among Chinese developers. Chinese developers are innovative in user attraction, such as Catizen’s on-chain check-in mechanism and TikTok-style short video marketing. The TONX community is also working hard to expand the developer network.

About Mini Programs: TON maximizes its influence through Mini Programs and Telegram channels. Recently, it announced a strategic partnership with Cocos Engine and Tencent Cloud, and launched Citizen Game Center, which provides more than 200 mini games.

Verticals beyond Tap-to-Earn: In addition to Tap-to-Earn games (such as Notcoin and Hamster Kombat), other verticals of TON are also worth paying attention to, including WeChat-style mini-games, short video streaming, and social platforms (such as dating platforms).

DeFi: DeFi on TON is gaining momentum, with TVL growth and USDT integration helping to boost adoption.

Taiwan Crypto Community

Builder-driven: Taiwan’s crypto builders outnumber VCs and crypto institutions, with most involved in ecosystems such as Solana and Sui, working to expand the community.

KOL community: KOL culture is particularly popular in Taiwan, and KOLs on 𝕏 and Youtube can often be seen in the community.