Author: Biteye Community Core Contributor Viee
This year’s TOKEN 2049 conference has just concluded in Singapore, with significantly higher popularity than previous years, making it a major event in the global crypto industry. The conference attracted over 20,000 attendees from more than 150 countries and hosted hundreds of seminars, making it an unprecedented success.
This article by Biteye provides an analysis of the popular topics and related sentiments discussed on Twitter during TOKEN 2049, based on the latest statistical results from Cryptohunt.AI, a Web3 AI research tool. It aims to provide readers with a panoramic view of the industry’s pulse.
Please refer to the Cryptohunt official website for the data.
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Solana: Riding High, the Hottest Topic
During TOKEN 2049, the discussions on Solana online and offline almost surpassed those on BTC and ETH, making it the hottest topic.
Despite some challenges in the past, the Solana community has become more resilient.
Many new developers are joining and creating more interesting projects, such as Backpack, Cubexch, and FlashTrade.
In recent months, Solana has also launched the Seeker phone, a device that integrates Web3 functionality, aiming to enhance user experience and promote the use of cryptocurrencies.
There are also discussions about the saturation of the Solana ecosystem, which may lead to some technical transfers and overflow of traffic.
For example, some developers are considering migrating their projects to other blockchains like Sui and Aptos. The similarity between the Move language and Rust makes such migration relatively easy.
We can see that Sui has recently gained momentum, with its token price skyrocketing. Whether it will become the next Solana still needs further observation.
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ETH: The Old-School Public Chain Still Shining
Ethereum’s attention at the TOKEN 2049 conference is at least half due to Vitalik’s speech.
As the founder of Ethereum, Vitalik emphasized in his speech that the goal for Ethereum in the next ten years is to achieve mainstream adoption while maintaining the values of open-source and decentralization.
He mentioned that in the past, the main reasons for the failure of crypto payments were transaction fees and user experience issues. However, these problems are expected to be significantly improved in the next two years, including the reduction of transaction fees and confirmation time, as well as a significant improvement in user experience.
Despite Vitalik’s hopeful speech, many people still expressed certain doubts about the performance of the Ethereum ecosystem.
For example, Ethereum is facing application bottlenecks in the current market, and its liquidity and user attention are becoming fragmented, making the entire ecosystem somewhat fragmented.
It is well known that emerging public chains like Solana are actively challenging Ethereum’s position in this cycle.
As an old-school public chain, how Ethereum can maintain its important position when facing new challenges is also a direction worth paying attention to in the future.
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AI: New Track, New Opportunities
During the TOKEN 2049 conference, AI ranked among the top three in terms of discussion heat. Most people hold an optimistic attitude towards the combination of AI and cryptocurrencies, believing that the integration of AI and blockchain will drive industry innovation and transformation.
For example, Michael Heinrich, CEO of 0G Labs, emphasized that the potential risks of centralized AI systems have prompted people to seek decentralized governance through blockchain technology to enhance transparency and accountability.
If uncontrolled, future AI agents could pose a threat to society, so the combination of AI and blockchain is particularly important.
In terms of market performance, some AI-related tokens such as Near Protocol, FET, and Render have performed exceptionally well, outperforming the overall cryptocurrency market.
In the past 30 days, the market capitalization of AI-related cryptocurrencies has grown by 23%, from $27 billion to $33 billion. Especially top-ranking AI tokens like TAO have risen by 50% in the past four weeks.
Investors’ confidence in the AI field is recovering, and more and more funds are flowing into this emerging field.
However, most AI projects are still immature and even considered “gimmicks.” Many projects are still in the experimental stage, lacking mature business models and practical applications. There is uncertainty in achieving large-scale applications in the short term, so caution is still needed.
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TON: A Rising Star Gaining Momentum
The TON ecosystem has rapidly developed in the past year, covering various fields such as finance, storage, and payments. The emergence of multiple emerging projects like PunkCity and HyperGPT demonstrates TON’s diversity and innovation capabilities.
During TOKEN 2049, the integration of TON with the TADA ride-hailing service became a highlight.
TADA is the second-largest ride-hailing app in Singapore and has launched a mini-program called “TADA mimi” on the Telegram platform, which integrates TON cryptocurrency. Users can directly use TON to pay for their rides.
This innovation allowed many Web3 practitioners to experience the convenience of using cryptocurrencies for real-world transactions and generated a high level of discussion.
The market’s biggest focus on TON lies in its potential user traffic. With Telegram’s massive user base of approximately 900 million users, TON is seen as a strong competitor in the L1 space.
This user base provides unique advantages for the widespread application of TON and even the possibility of achieving true mass adoption.
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MEME: Continuously Trending, “Hot Chicken”
In this cycle, the “condemnation” of meme coins in the market has never diminished. Despite the poor performance of many traditional value coins, meme coins have stood out in the market, making traditional value investment concepts somewhat ironic.
Andrei Grachev, co-founder of DWF, posted a TOKEN 2049 speech photo on social media featuring the BILLY logo of the Solana ecosystem meme coin, hinting at “revealing some Alpha.” This implies important information related to BILLY or upcoming dynamics, sparking discussions in the industry.
During TOKEN 2049, some voices believed that meme coins and their related infrastructure have the potential to generate actual revenue and occupy an important position in future transactions.
Meme coins may face volatility in the short term, but their potential is still optimistic. Many “serious” project teams and investors have started paying attention to the meme-related track, reflecting the industry’s desire for true innovative projects and the gap between desire and reality.
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Market Sentiments
During TOKEN 2049, the sentiments in the Chinese and English communities were relatively similar, with an overall dominance of optimism, accounting for about 50%. In addition, only 10% of tweets conveyed pessimistic sentiments, and the rest were mostly neutral.
On the one hand, emerging projects and ecosystems have shown strong potential, generating expectations within the industry. For example, ecosystems like Solana and TON are becoming increasingly powerful.
Many people experienced using cryptocurrencies to pay for their rides during the conference and expressed excitement about the application landing. The emerging projects showcased innovation and the potential for practical applications, creating anticipation for the future development of the industry.
On the other hand, the market’s uncertainty and bottlenecks have left people feeling confused. Some tracks that were once highly anticipated are developing slowly, and the heat is starting to decline. For example, the Restaking track, which was booming six months ago, has gradually lost its enthusiasm, and the pre-market price of $EIGEN has dropped from a high of $10 to the current $4.
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Conclusion
The cycle continues to see recovery and decline.
Emerging tracks continue to rise and fall.
In this attention game, “Where is the future of crypto heading?” becomes the answer pursued by some people.
Nowadays, the market is beginning to reevaluate true value. Innovation and real-world use cases have become the focus of attention. Perhaps only projects that effectively address user needs can stand out in fierce competition.
TOKEN 2049 coincided with the announcement of the Fed entering an interest rate cut cycle, creating favorable conditions for market rebound. In the future, with improved market sentiment and increased capital inflows, projects with genuine application value and innovative capabilities will receive more attention. The crypto industry may find new direction and inject new vitality into future development amidst challenges.
