In 2024, there will be $13.7 billion invested by VCs in crypto, an increase of 28% compared to 2023, but still far behind 2021 and 2022. Currently, the activity level of the funds is considered average (normal). So will the funds invest heavily in 2025 and what will they invest in?

1. @dragonfly_xyz focuses primarily on Cefi, Defi, and Stablecoin, while new fields like Depin or Crypto-AI will be tested

2. @PanteraCapital is excited about crypto-AI, DEPINs, and new Layer 1s

3. @multicoincap is very bullish on the Solana ecosystem; they will prioritize Defi on Solana and are optimistic about stablecoins

4. @cbventures continues to focus on onchain, including Payment, Stablecoins, Defi, Crypto-AI, and application layers such as Gaming, Social, creator apps, and is also interested in the infrastructure layer

5. @BinanceLabs focuses on real product projects that can reach many users such as web3, AI, or biotechnology. Binance Labs has a long-term investment orientation and is for real users

6. Galaxy Ventures is bullish on Stablecoins and tokenization (RWA). They believe that stablecoins are very suitable for this market and will develop strongly

7. @hashed_official will invest heavily in data infrastructure, enterprise-level DeFi applications, managed stablecoin payment systems, and crypto-AI infrastructure. Conversely, Hashed will reduce capital for fields like L1 and L2 that lack uniqueness, short-term Gamefi, non-functional NFTs, or DeFi applications in banned countries

8. @hack_vc bets on Crypto-AI, Defi, and infrastructure layers. Among them, Crypto-AI includes both Depin GPU, scalable market infrastructure, and security; additionally, the Stablecoins sector is seen as a "once-in-a-thousand-year" opportunity

9. @PortalVentures focuses on infrastructure layers and user experience applications; these folks believe that the fundraising situation in 2025 will generally not be as vibrant as in 2021-2022 due to the economic context

10. @blockchaincap focuses on infrastructure for stablecoins and Defi

*Personal conclusion: I see that the funds are mainly still around the fields of Stablecoins, Defi, AI, while areas like Gaming are less mentioned, and fields like NFT or Metaverse are even excluded from the list of interest. Some funds evaluate that only a few bluechip NFTs hold value, while the rest are almost worthless

- What are your thoughts?