Hi, and welcome to our February Issue celebrating our love for crypto!
I have a small favour: help us spread the crypto love! Share this issue of MoonMag now! Pretty please?
This editorial is inspired by Josh's article and our passion for cryptocurrency. This month's edition of The Moon Mag is all about the love of crypto so let’s share the love, empower others, and spread the knowledge!
Imagine a world where financial freedom isn’t reserved for the few but available to everyone. That world exists, and it’s built on blockchain. Yet, despite the explosive growth of cryptocurrency since its inception after the 2008 financial crisis, too many people still know nothing about it. That’s where you come in.
If you’re reading this, you’re early.
You understand that crypto is more than just magic internet money, digital money, or whatever your friends and family say; it is also more than the scams mostly reported in headline news as people fear change! Change is where real growth occurs; crypto is a movement, a revolution against the old financial system. But what about your friends, family, or work colleagues who are still in the dark? It’s time to change that.
I have a challenge for you: Send this article to five people you believe know nothing about crypto. Share TheMoonMag.com with them. Let them know this is a free resource packed with knowledge that could transform their financial future.
I’ve been in the crypto space since the beginning. I’ve seen the ups and downs, the scams and the success stories, the breakthroughs and the setbacks. That’s why I built The Moon Mag with Josh. It was my vision and as always, I dream it and he brings those ideas to life Our aim was also to cut through the noise and bring you real, researched insights on the projects that matter.
Our team doesn’t just skim the headlines we dig deep, analyse, and break down projects to help you make informed decisions. We look at the tech, the teams, the market trends, and the real-world use cases to separate hype from reality. Knowledge isn’t just power, it’s profit, protection, and the foundation of long-term success in crypto.
Bitcoin was built for the people, by the people. The Bitcoin whitepaper even states that its purpose is to create a decentralised financial system free from the control of traditional institutions. It is a financial empowerment tool designed to give individuals control over their wealth.
The biggest barrier to crypto adoption isn’t regulation or market swings. It’s simply a lack of knowledge. The more people understand blockchain and crypto, the faster we move towards a decentralised, fairer financial system. And it starts with you.
Remember those chain emails that warned you'd have bad luck forever if you didn't forward them? This time, sending this to five people might change their financial future.
So, who are your five? Do you really want them to be stuck in an outdated system and left behind…
If you love them, set them free… that is the true meaning of love
Send them this message:
"Hey, I know you might not be into crypto yet, but check out
TheMoonMag.com. It’s a free resource that includes everything you need to know about Bitcoin, Ethereum, and the entire crypto and blockchain space. I believe you will love it as much as I do! The person behind this has been in crypto since the beginning. There is no hype, just real knowledge. Thought you might find it interesting!“
Let’s spread the knowledge and our love from this space and watch it grow and soar!.
Share the love and send this now.
Lisa
Crypto never stands still. Whether it’s the battle between CEXs and DEXs, the rise of new tokens like $MOVE and $VIRTUAL, or the lessons learned from chasing pumps, this space just gets bigger and bigger, and we somehow have to squeeze it into the Moon Mag! In this issue, we dive into the psychology of the typical crypto user - what makes us tick, take risks, and keep believing in the future of decentralisation and we also highlight the top 10 crypto moments to watch in 2025 amongst plenty of other epic content!
As we navigate a year packed with innovation, regulation, and market surprises, one thing is clear: adaptability is key. Whether you’re a DeFi degen, a cautious investor, or just here for the memes, crypto has a place for you. Let’s embrace the chaos, spot the trends, and, hopefully, WAGMI. Enjoy this issue!
A note from Josh
SPONSORS
We are incredibly grateful to the following sponsors for their support. We run a ‘Sponsor A Writer’ campaign where crypto projects take part in an altruistic act of sponsoring our talented writers. By doing so, they play a crucial role in keeping the crypto economy alive and thriving, not only for our readership, but for the writers who provide the awesome articles.
DISCLAIMER
All the content provided for you as part of the Moon Mag has been researched thoroughly and to the best of our ability however it is your choice, and your choice only, whether you wish to invest or participate in any of the projects. We cannot be held responsible for your decisions and the consequences of your actions. We do not provide financial advice. Please DYOR and above all, enjoy the content!
CONTRIBUTORS
Daniel
Daniel has been a blockchain technologyevangelist since 2012 and is a faithful believer in the Crypto ecosystem. Daniel also writes for Coin Telegraph!
Samantha
Freelance journalist dedicated to digital media, enthusiast of the crypto ecosystem and disruptive technologies MDC writer since 2018, currently writer for CryptoTrendencia.
Chris
I joined the crypto party in 2017 Worked as a DAO contributor, startup advisor, lead researcher and co-author My superpower? Translating complex blockchain concepts into clear, engaging content that resonates.
TRADERS PERSPECTIVE
From FOMO to Forever
written by Lisa N. Edwards
Building a Loving Relationship with Your
Portfolio
February is known as the month of love; this Valentine’s Day, while roses and chocolates may be on your mind, why not take a moment to reflect on your relationship with trading? Like any good romance, a successful trading journey requires trust, commitment, and the ability to manage emotions. But all too often, traders let feelings like FOMO (Fear of Missing Out) and greed dominate their decisions, leading to heartbreak in the form of losses.
So, how can you trade with love instead of fear? Let’s explore how to create a strong, lasting relationship with the crypto market.
The Emotional Rollercoaster of Trading
Trading crypto can feel like a whirlwind romance: thrilling highs when the market pumps, gut-wrenching lows during dips, and those sleepless nights spent obsessing over charts. Many traders fall into the trap of letting emotions dictate their actions, especially when FOMO takes over.
Think of FOMO as that toxic ex always enticing you to chase impulsive trades or jump into markets without proper research. Acting on these (2 am booty calls) impulses might bring short-term excitement but often lead to regret. The key to avoiding heartbreak? Learning to control your emotions and approach the market with a clear, rational mindset.
Romancing Risk Management
Risk management is like the foundation of any healthy relationship it’s all about balance, trust, and making smart decisions. Without it, your trading journey can quickly turn into a toxic affair. Here’s how to fall in love with risk management:
1. Set Boundaries (Your Trading Stop-Loss):
Just like setting boundaries in a relationship, you need to establish limits in trading. Decide how much you’re willing to risk on each trade and stick to it. A stop-loss is your safeguard against emotional decision-making.
2. Avoid Love at First Sight (Do Your Research):
That flashy new altcoin might look irresistible but don’t rush in. Take the time to research projects thoroughly before committing your hard-earned capital. A solid relationship with an asset is built on trust, not hype.
3. Don’t Chase What’s Gone (Forget the Pump):
Missed out on a pump? Let it go. Chasing after a skyrocketing coin is like trying to rekindle a short-lived fling that’s already moved on it rarely works out and often leaves you worse off. Instead, focus on identifying new opportunities before they break out.
4. Consolidation: The Market’s Therapy Session
And remember, consolidation isn’t a bad thing it’s like that moment when someone realises their mistakes during therapy. The market might reflect, reassess its direction, and prepare for something stronger and healthier. Keep an eye on those consolidating assets they could set the stage for their next big move.
5. Commit to Balance (Portfolio Management):
Like in a healthy, monogamous relationship, you need balance and security. While staying committed to your trading goals, don’t rely entirely on one asset to carry all the weight. Diversify thoughtfully within your portfolio, ensuring every choice contributes to the stability and growth of the whole. It’s about finding harmony, not spreading yourself too thin.
Avoiding Heartbreak: Have a Plan
Imagine heading into a relationship without a plan or clear expectations a recipe for disappointment. The same goes for trading. A well-thought-out strategy is your roadmap to success. Here’s how to craft one:
▪ Set Clear Goals: Know why you’re trading. Is it for short-term gains, long-term wealth, or to grow your knowledge?
▪ Plan Your Entry and Exit: Before entering a trade, decide on your buy and sell levels. Stick to them, no matter how the market moves.
▪ Use Stop-Losses and Take-Profits: These tools are your safety net, ensuring you don’t lose more than you can afford or miss out on gains.
Trading Self-Love: Take Care of Yourself
A healthy relationship with the market starts with a healthy relationship with yourself. Trading can be stressful, so it’s important to practice self-care:
▪ Take breaks from the charts to avoid burnout.
▪ Reflect on your trading decisions to learn from your mistakes.
▪ Celebrate your wins no matter how small they may be.
Remember, the market will always be there tomorrow. Taking time to recharge and refocus will make you a better, more disciplined trader.
Conclusion: Love the Journey
This Valentine’s Day, build a strong, lasting relationship with your portfolio. By managing risk, controlling your emotions, and sticking to a plan, you can avoid the heartbreak of impulsive trades and enjoy the rewards of disciplined investing.
Whether it’s love or trading, the best relationships are built on trust, patience, and a little bit of effort every day.
Virtuals and the VIRTUAL Token
written by Chris
AI is transforming industries at an unprecedented pace, but its potential to revolutionise the entertainment sector remains largely untapped. While productivity tools, autonomous driving, and educational AI applications dominate headlines, the entertainment industry (worth over $100 billion at the time of writing!) is poised for a seismic shift.
AI’s capabilities in gaming, companionship, and dynamic content creation offer immense opportunities to reimagine user experiences, from personalised gaming narratives to adaptive entertainment and beyond.
This is why Virtuals Protocol was born, at the forefront of this transformative wave. Designed to democratise access to AI agents and enable monetisation on a decentralised platform, Virtuals Protocol is building a future where AI agents aren’t just tools but companions, creators, and contributors to an immersive Web3 era.
Virtuals Protocol: Redefining AI
At its core, Virtuals Protocol is a decentralised ecosystem that empowers users to create, deploy, and monetise AI agents. These agents are more than just sophisticated algorithms; they are interactive entities capable of functioning as game NPCs, virtual influencers, and personalised companions. Leveraging blockchain technology, Virtuals Protocol enables users to tokenise and co-own these AI agents, fostering new revenue streams for creators and contributors alike.
The platform is designed to address three critical challenges in the AI sector:
1. Simplifying AI Integration: By offering plug-and-play solutions, Virtuals Protocol eliminates the complexity of integrating AI agents into games and consumer applications, making it as simple as deploying a Shopify store.
2. Rewarding Contributors: With its Immutable Contribution Vaults, the protocol ensures that every dataset contributor, AI fine-tuner, and developer is rewarded for their input, creating a decentralised and equitable revenue model.
3. Democratising AI Ownership: Through its Initial Agent Offering, Virtuals Protocol makes AI agent ownership accessible to non-technical users, allowing anyone to coown and benefit from the success of these agents.
Unique Capabilities
The agents developed on Virtuals Protocol go beyond basic interactions. They are equipped with:
▪ Autonomous Planning: These agents can execute complex tasks without constant human input.
▪ Multimodal Communication: From text and speech to 3D animations, they offer immersive interaction.
▪ Environmental Interaction: Imagine an agent that can wield a sword in Roblox or collect gifts on TikTok.
▪ Blockchain Integration: On-chain wallets allow these agents to perform blockchainbased tasks, seamlessly merging AI with Web3.
Virtuals Protocol can be considered as a movement, to redefine how we interact with AI in entertainment. By creating a revenue-sharing model powered by ‘’inference costs’’ the computational resources used during interactions the platform generates value for agent token holders.
With its first AI agent, Luna, already operational, Virtuals Protocol is setting the stage for a future where AI agents are central to entertainment, companionship, and digital ownership.
In the following sections, we’ll explore how Virtuals Protocol is leading the charge in disrupting the entertainment industry, one AI agent at a time!
Vision and Beliefs
Virtuals Protocol envisions a future where AI agents transcend their roles as mere tools to become productive assets revenuegenerating powerhouses that drive innovation and engagement across consumer applications.
They are somewhat rewriting the narrative. AI agents are not passive instruments but active contributors to the new digital economy. They represent a new paradigm where individuals can invest in and co-own these agents, similar to owning shares in a company. These agents whether as companions, NPCs in games like Roblox, or virtual influencers on platforms like TikTok are poised to redefine economies as we know them today.
But why Gaming and Entertainment first?
The journey begins in gaming and entertainment because of the unparalleled user engagement these industries foster. These sectors can unlock:
▪ Infinite Content: AI agents generate endlessly unique interactions, breaking the monotony of repetitive content and creating experiences that surprise and delight. This unpredictability fuels the dopamine-driven anticipation-reward loop, enhancing user retention.
▪ Tailored Connections: With hyper-personalisation, AI agents forge deep emotional bonds with users, evolving from parasocial relationships into meaningful, interactive engagements.
Why Crypto and Tokenisation?
By integrating blockchain technology, Virtuals align individual incentives with collective goals. Tokenisation transforms AI agents into community-owned assets, enabling a borderless, decentralised model of ownership. This approach ensures:
➢ Equitable Participation: Public co-ownership encourages broad community involvement and decentralises control.
➢ Incentive Alignment: Users with a financial stake in AI agents act in the ecosystem's best interest, fostering long-term success.
Virtuals Protocol is building an economy where AI agents are not just tools but co-owned, profit-driven, and decentralised assets.
The Team Behind Virtuals: Visionaries, Innovators, and Builders
The team at Virtuals Protocol represents a dynamic blend of AI researchers, blockchain enthusiasts, gaming experts, and crypto veterans, all united by a singular mission: to redefine digital economies through the transformative power of AI agents
Under the visionary leadership of Jansen Teng, Virtuals is not just another AI project, it’s a movement poised to disrupt how we think about AI, entertainment, and ownership in the digital age.
The philosophy revolves around a groundbreaking belief:
“AI agents are not slaves; they are productive assets. They are the future of digital economies.”
Jansen envisions a future where AI agents transcend their role as mere tools and become co-owned, revenue-generating entities that redefine digital interactions. These agents will power applications across gaming, entertainment, and beyond, creating entirely new economic opportunities.
Why start with gaming and entertainment? For Virtuals, the answer is simple: it’s all about dopamine, the reward-driven chemical that keeps users engaged. Virtuals Protocol leverages this by:
1. Infinite Content
Virtuals’ AI agents offer endless possibilities. From emergent gaming experiences to AI companions, no two interactions are the same. This randomness, coupled with the allure of unpredictability, fuels a dopamine loop that keeps users engaged and returning for more.
2. Tailored Experiences and Real Connections
AI agents create hyper-personalized content and interactions, turning parasocial relationships into genuine connections. As these agents carry memories and personalities across platforms, they forge deeper emotional bonds with users, enhancing engagement.
The roadmap for Virtuals Protocol is equally ambitious:
▪ Crypto Infrastructure: Completed in just seven months, the foundation for co-building and co-ownership is live.
▪ Agentic Capabilities: Virtuals’ AI agents are already autonomous, capable of achieving goals, perceiving digital environments, and managing crypto wallets.
▪ Demos in Progress: From 2D web simulations to Roblox integrations, the team is building immersive showcases of their agents’ capabilities.
▪ Cross-Platform Integration: Soon, users will experience seamless interactions with AI agents across five different applications.
▪ Initial Agent Offerings: A revolutionary model allowing users to invest in AI agents at an early stage.
▪ Gaming and Entertainment Expansion: The ultimate goal is to integrate AI agents into mainstream consumer apps, driving scalability and revenue.
▪ Revenue Generation: With dopamine as the catalyst, the protocol will unlock sustainable monetization opportunities.
Jansen’s journey began with mining Ethereum in 2016, and he has since become a serial entrepreneur specialising in deep tech, AI, and biochemistry. A graduate of Imperial College London, he brings both strategic vision and technical expertise to the table.
Core Contributors: The Brains Behind the Vision
The Virtuals Protocol team is a powerhouse of talent, blending academic brilliance with real-world experience. Each member brings unique expertise, driving the protocol’s innovation and execution.
▪ Wee Kee (Core Contributor)
BTC/ETH investor since 2016. Former BCG consultant and private equity expert. Imperial College London graduate.
▪ Bryan (AI Core Contributor)
AI researcher at the Adaptive and Intelligent Robotics Lab, Imperial College London.
▪ Javier (AI Core Contributor)
AI specialist with over five years of experience. Developed cutting-edge AI models, including LoRAs for Stable Diffusion and voice models.
▪ Ernest (AI Core Contributor)
Kaggle Competitions Grandmaster. Harvard and Carnegie Mellon graduate with extensive experience in fintech AI applications.
▪ Bernard (AI Core Contributor)
PhD in Physics from Cambridge University. Former Head of AI/ML.
▪ Viktor (AI Core Contributor)
Expert in speech processing and computer vision AI models.
▪ Celeste (Ecosystem Core Contributor)
Former Lead Data Scientist at Oliver Wyman and Senior Data Scientist at Grab. Master’s in Computer Science from Georgia Tech.
▪ Matthew (Ecosystem Core Contributor)
An engineering graduate from Cambridge University and former BCG consultant.
▪ Serkan (Gaming Core Contributor)
Founder of a Japan-based game market consulting agency and advisor for Animoca Brands.
▪ Wei Xiong (Engineering Core Contributor)
Developer with experience in fintech, smart contracts, and co-generative NFT art. Imperial College London graduate.
▪ Kahwai (Engineering Core Contributor)
Builder of L1 blockchains, crypto mining tools, and trading bots.
▪ Brianna (Engineering Core Contributor)
Product and data engineering expert, Imperial College London graduate.
A Culture of Innovation and Passion = Success?
The Virtuals Protocol team is a group of experts, yes, but they are also a collective of visionaries. They describe themselves as a mix of PhD nerds, gamers, and crypto degens an unconventional yet potent combination that fuels their groundbreaking work.
Their shared mission is clear: to democratise access to AI agents and transform them into productive assets that redefine digital economies.
The VIRTUAL Token
In Q4 2024, Virtuals Protocol opened its ecosystem to third-party developers, game studios, and consumer app creators. This expansion allows external stakeholders to deploy AI agents using intuitive, plug-and-play tools akin to Shopify’s model.
By decentralising development, the protocol aims to scale its ecosystem exponentially, fostering innovation and significantly amplifying revenue inflows. This strategy positions VIRTUAL as a critical asset for developers and investors, further enhancing its utility and value.
Tokenomics and Vesting Schedules
Virtuals Protocol’s tokenomics are meticulously crafted to ensure rapid adoption and sustained growth. With a capped supply of 1 billion tokens, the $VIRTUAL token is structured to balance scalability and sustainability:
▪ 60% Public Distribution: Promotes liquidity, accessibility, and active community engagement.
▪ 35% Ecosystem Treasury: Held in a DAO-controlled multi-signature wallet, funding initiatives such as developer incentives, marketing, and ecosystem expansion.
▪ 5% Liquidity Pools: Ensures seamless trading and supports liquidity pairs for AI-AGENT tokens.
To maintain supply-demand equilibrium, the protocol enforces a 10% annual emission cap over three years, strategically allocating tokens for long-term growth.
Liquidity Dynamics and Adaptive Mechanisms
VIRTUAL serves as the base asset for all AI-AGENT tokens. Every agent’s liquidity pool is paired with VIRTUAL, and once an agent token achieves a $420,000 market cap, additional liquidity pools are created. This mechanism locks VIRTUAL tokens into pools, reducing circulating supply and increasing demand. Users must swap other currencies, such as USDC, into VIRTUAL to engage with AI-AGENT tokens, creating a steady influx of demand.
Revenue generated by user activity fuels aggressive buyback-and-burn programs, reducing supply and driving upward price momentum. Additionally, a 1% transaction tax on agent token trades is allocated to operational expenses, such as GPU scaling and inference costs, ensuring a sustainable economic cycle.
Integration with Coinbase’s Base L2
Virtuals Protocol’s decision to build on Base, Coinbase’s Layer-2 solution, amplifies its potential for success. Base combines Ethereum’s security with low transaction costs, offering developers a scalable and secure environment.
The integration with Coinbase’s ecosystem is seamless, including its wallet and exchange, and provides unparalleled access to millions of users and institutional liquidity. This alignment with Base enhances VIRTUAL’s scalability, interoperability, and accessibility, positioning it for long-term growth.
Market Performance & Stats
The VIRTUAL token’s market cap recently reached an all-time high in early 2025, reflecting the protocol’s growing adoption and robust tokenomics. The number of AI agents being deployed, along with their native token minting highlight the ecosystem’s scalability and user demand.
The Virtuals Protocol facilitates an intuitive value exchange among stakeholders, ensuring mutual benefit across its ecosystem.
Revenue Sources and Allocation
▪ User Payments:
Real-world users interact with AI agents in diverse ways, such as purchasing concert tickets, personalised interactions, or virtual merchandise. These payments generate steady revenue streams for application developers managing the AI agents.
▪ AI Inference Costs:
A portion of this revenue covers the operational costs of AI inference services, ensuring that agents continue to deliver real-time, high-quality interactions.
▪ Agent’s Onchain Treasury:
Part of the revenue flows into the agent’s treasury, which funds the agent’s future growth, development, and operational needs.
▪ Buyback-and-Burn Mechanism:
Revenue collected in the treasury triggers periodic buybacks of the agent’s tokens (e.g., $SWIFT). These tokens are burned, reducing supply and increasing the token’s value.
Liquidity Pools and Token Value Growth
Each agent’s tokens are paired with VIRTUAL tokens in a liquidity pool, directly linking the agent’s performance to the value of the VIRTUAL token. As agents generate revenue and tokens are burned, the scarcity and value of both the agent-specific tokens and VIRTUAL’s price increase, creating a cycle of growth that benefits all stakeholders and ecosystem participants.
What are the Benefits?
▪ Token Holders:
Investors in both agent-specific tokens and VIRTUAL tokens benefit from increased scarcity and value appreciation.
▪ Users and Creators:
Users enjoy innovative AI-driven interactions, while creators gain financial rewards and influence over their agent’s development.
▪ Developers and Agencies:
Application developers and agencies gain revenue from user engagement, ensuring their efforts are rewarded within the ecosystem.
Initial Agent Offering (IAO): Pioneering Fair AI Launches
IAO is an innovative mechanism through which new AI agents are launched into the Virtuals Protocol ecosystem. It ensures fairness, transparency, and stability while fostering decentralised ownership.
How the IAO Works
1. Agent Creation:
A creator initiates the launch of a new AI agent on the Virtuals platform.
2. Locking $VIRTUAL Tokens:
The creator locks a predefined amount of VIRTUAL tokens, which are used to establish a bonding curve for the agent’s token.
3. Token Generation Event:
Once the tokens are locked, the agent-specific fungible token is minted.
4. Liquidity Pool Creation:
After the bonding curve limit is reached (currently at a $420,000 market cap), a liquidity pool is created for the agent’s token, paired with VIRTUAL tokens.
5. Liquidity Ownership and Validation:
The creator owns the locked liquidity pool, which is locked for 10 years to ensure long-term stability. Validation power for future agent upgrades initially rests with a bot for efficient management.
Fair Launch Principles
Virtuals Protocol adheres to a fair launch philosophy, ensuring inclusivity and equal opportunities for everyone:
▪ No Pre-Mine or Insider Allocation:
All agent tokens are distributed via the liquidity pool, with no reserved allocations for insiders.
▪ Fixed Total Supply:
Each agent token has a fixed supply of 1 billion tokens, ensuring predictable tokenomics
▪ Locked Liquidity:
Liquidity pools are locked for 10 years, promoting long-term commitment and ecosystem stability.
▪ Trading Fees:
Trades involving agent tokens incur a 1% tax, which funds essential costs like AI inference and GPU usage. This tax is adjustable based on future conditions and ensures the sustainability of each agent.
Driving Value
This decentralised co-ownership model, combined with the Initial Agent Offering, creates a robust and self-sustaining ecosystem. By aligning the interests of users, developers, and token holders, Virtuals Protocol positions itself as a leader in a decentralised AI ecosystem. The result is an innovative platform that not only monetises AI agents but also fosters a thriving community of stakeholders sharing in its success.
Agent SubDAO: Decentralised Governance for AI Models
As AI agents become essential in platforms like Roblox, TikTok, and Telegram, maintaining superior model quality is critical. Virtuals Protocol introduces the Agent SubDAO, a governance framework that ensures top-tier AI performance through a decentralised, incentive-aligned system.
Key Components
▪ Liquidity Providers (LPs): LPs stake their tokens with trusted validators, aligning incentives to enhance AI model quality and drive revenue growth.
▪ Validators: Validators evaluate AI models and are rewarded or penalised based on the quality of their decisions. Voting power depends on the tokens staked by LPs, fostering accountability.
Governance Mechanics
Validators oversee model validation and upgrades, ensuring only high-performing models are deployed. Their voting power, derived from LP delegation, influences governance decisions, including:
▪ Model Validation: Anonymous model comparisons ensure unbiased assessments.
The process employs a refined Elo Rating System, enhancing stability in model evaluation. Validators engage in 10 rounds of interactions with anonymised model pairs, selecting superior outcomes.
Reward System
Agent SubDAO distributes rewards through:
1. Agent Inference Payments: Revenue supports token buybacks and burns.
2. Protocol Emissions: Incentives for top-performing validators and agents.
Dataset contributions are assessed via the Elo rating of fine-tuned models. High-impact datasets improve model performance, enabling the protocol to maintain stringent standards.
The Agent SubDAO exemplifies decentralised governance, aligning stakeholder incentives to deliver unparalleled AI quality and enhance user experiences.
Charting the Future of AI and Cryptocurrencies?
Virtuals protocol represents a bold step forward in the evolution of AI and its role in entertainment. By combining a decentralised infrastructure, blockchain technology, and advanced AI capabilities, the protocol creates a dynamic ecosystem where users can co-own, deploy, and monetise AI agents in innovative ways. From hyper-personalised gaming experiences to groundbreaking virtual influencers, Virtuals Protocol is unlocking entirely new revenue streams for crypto natives and AI enthusiasts alike.
The potential impact of Virtuals protocol extends far beyond gaming and entertainment. Its tokenisation model introduces a fresh paradigm for decentralised ownership, aligning user incentives with platform success.
Looking ahead, the use of the VIRTUAL token to fuel liquidity, reward contributors, and drive revenue generation underpins a robust and sustainable economic model.
In an era where AI shapes how we connect, play, and create content, Virtuals Protocol perhaps has the answer, redefining entertainment for a more interconnected Web3 world. As the ecosystem expands, its influence on digital economies and creative industries could be transformative, making Virtuals Protocol a project to watch in the years to come.
Top 10 Crypto Moments To Watch For In 2025
written by Daniel
2025 promises favourable conditions for significant advancements in the crypto world With 2024 remembered as one of the most relevant years in the industry, this year is probably setting the foundations for the new decentralised digital economy to get established worldwide
In our opinion, there are some “key trends” to watch that could shape the narratives in crypto throughout 2025. You can take advantage of the opportunities as an average user or investor Let’s explore the outlook for these trends and the key highlights to keep in mind for the Top 10 Crypto Moments to Watch for in 2025!
Key Narratives | Source: Santiment
1. Stablecoins
The role of blockchain technology adoption through the digital trade of stablecoins (especially those backed by the dollar) will continue to rise in 2025. Currently, if we look at the spectrum of stablecoins, we can see that 16 of the top 20 fiat-backed stablecoins have "USD" in their ticker.
Source: Pantera Capital with data from rwa.xyz
To contextualise the potential of stablecoins in 2025, consider the following key facts:
▪ The United States has hinted at the possibility of approving legislation on stablecoins, recognising the pivotal role these assets play as “strategic” tools for extending the reach of its native currency, the dollar.
▪ Using blockchain technology through tokenisation further facilitates the presence of dollar-backed stablecoins in global trade, countering attempts by some countries to reduce reliance on the dollar in international commerce.
▪ Additionally, some nations are already considering using stablecoins (backed by their preferred fiat currencies) as an alternative to the dollar dominance.
▪ Stablecoins are prompt to replace traditional banking systems in emerging markets as primary tools for crossborder payments and savings. A report by Castle Island and Brevan Howard indicates that 72% of respondents expect to increase their use of stablecoins in the future.
As we can see, 2025 appears poised for stablecoins adoption as a geopolitical strategy in the commercial arena, alongside their use in facilitating peer-to-peer trade under environments controlled by governmental entities to counter the misuse of currencies in illicit activities
From a market perspective, stablecoins reached a historic market cap of $203.36 billion by the end of 2024, reflecting a growth of up to 56%. Coinbase reports that the sector could grow to $3 trillion in five years
Source: CCData
In 2024, the transaction volume of stablecoins reached $8.3 trillion, nearly matching Visa's $9.9 trillion in payment volume, according to Bitwise
2. Tokenisation of Real-World Assets (RWAs)
One trend that gained momentum throughout 2024 and is expected to solidify in 2025 is the tokenisation of real-world assets, popularly known as RWAs.This sector's most noticeable "catalysts" remain private credit, Treasury bills, and commodities, as RWA.XYZ's data shows that the total value of this sector grew by 67% throughout 2024, reaching $13.9 billion
In 2025, the trend shows RWAs expanding beyond loans, commodities, and U.S. Treasury bills the three leading sectors currently dominating this market. Analysts believe that financial transactions such as derivatives, corporate equities, ETFs, and more complex on-chain financial products will accelerate the adoption of RWAs in 2025.
Some predictions suggest that the tokenised RWA market could surge to $2 trillion by 2030, a significant leap from the $2 billion in real-world assets (RWAs) that existed just three years ago.
3. Institutional Adoption and Bitcoin as a Strategic Asset: The Resurgence of DeFi Powered by BTC
We can't discuss 2025 without mentioning Bitcoin. In 16 years, the currency has positioned itself as one of the favourite assets among investors of all sizes, including those on Wall Street. Who would have thought this a decade ago?
With significant institutional interest and successful experiments like El Salvador's Bitcoin initiative, more announcements, such as those from Russia and the U.S., regarding Bitcoin as strategic reserves can be expected in other regions in 2025, establishing Bitcoin as a strategic asset for the world's leading nations.
However, beyond institutional adoption and Bitcoin’s growing geopolitical role, the real potential seems to be in the Bitcoin-Fi ecosystem a DeFi ecosystem centred on Bitcoin. This ecosystem aims to enable BTC holders to earn yields on their holdings natively on the industry’s leading blockchain network.
According to experts like Kevin He from Bitlayer, BTC holders could achieve up to 40% of annual returns on their holdings. Currently, BTCFi represents a market opportunity of $6.5 billion, according to DeFiLlama data, marking a 2,000% increase during 2024.
The main trigger for this sector's growth has undoubtedly been the activation of native Bitcoin staking for the first time in history by the Babylon protocol, which controls 80% of the TVL in BTCFi
Additionally, the U.S. debut of spot Bitcoin ETFs and some of the world's leading economies has provided significant momentum for Bitcoin's price and the decentralised finance sector emerging around this network, as highlighted in Binance Research's latest report.
With the world's largest asset manager dominating Bitcoin ETF holdings (BlackRock), it’s no surprise that as this manager continues to show interest in acquiring more Bitcoin, the asset's price will likely respond positively to demand in the next bullish cycle, with an increasingly pronounced scarcity due to Bitcoin’s upcoming halving.
The DeFi sector could experience a revival as it stands as a more mature and resilient ecosystem The all-time highs we are witnessing in decentralised lending protocols’ total value locked (TVL) and the rising volumes in decentralised exchanges (DEX) are just some of the key metrics indicating that decentralised finance is heading toward a new DeFi Summer in 2025.
4. Regulatory Support
The rise of Trump to the U.S. presidency couldn’t have come at a better time. The pro-crypto president has signalled that 2025 will be highly favourable for the sector, especially for blockchain technology companies in the United States
Additionally, the new head to lead the previously crypto-adverse SEC could bring more favourable signs to an industry eagerly awaiting measures that support the technological development of new solutions leveraging blockchain technology and cryptocurrencies as part of their infra-tech stack
If Trump's administration takes the right course toward a crypto-friendly regulatory framework, we could witness a resurgence in development, innovation, and utility that drives global crypto adoption, thanks to the domino effect the SEC can have on other regulatory bodies in the world's major economies
G20 nations currently work on regulatory frameworks to facilitate global digital asset innovation
5. AI Bots and Crypto: AI Agents
The unexpected success of the Truth Terminal bot is just the beginning of what’s to come in 2025 and beyond Advances in the Artificial Intelligence field have found a natural ally in blockchain technology, creating a wide range of on-chain opportunities These include handling basic human interactions in crypto, such as generating transactions, safeguarding wallets, and even producing creative content on decentralised networks
This AI agent's potential can reach a futuristic level, where they become players in real cryptobased games (GameFi) and even operate their blockchains According to data from Cookie.fun, the market cap of AI Agents is currently valued at around $9.42 billion, with Solana leading the market share, followed by Base Chain.
The development of zero-knowledge (ZK) proofs and the advances in cryptography allow humans to prove their identity without revealing personal information. In this space, AI Agents will help with on-chain ID verification in the coming years, which is another factor.
On-chain biometric verification will grow with artificial intelligence and ZK proofs. Worldcoin, RisedID, and OnchainID are just some examples of the future of on-chain verification empowered by AI Agents.
The market cap of AI Agents is in an early stage, valued at around $15.5 billion, having seen a 222% increase just in the last quarter of 2024, following the launch of GOAT on Solana in October.
Interest in this niche has grown following the backing from major firms such as Franklin Templeton, which highlighted the potential of AI agents in its latest report.
Source: X
For now, we are still observing a niche of practical AI agents executing complex transactions through blockchain on behalf of a few users, suggesting we are in the early stages and there will be much development in 2025.
6. Rise of Decentralized Physical Infrastructure Networks (DePIN)
In 2025, we may see significant progress in decentralised physical infrastructure networks the launch and use (also known as DePIN), given the expansion of blockchain applications beyond purely digital realms
DePIN applications drive part of the resurgence of DeFi expected this year, as they allow users to own a portion of the infrastructure they use (internet, electricity, data, etc.), creating new opportunities for financial inclusion.
Data Depin.Ninja states that there are currently only 1,500 projects focused on this sector development, with a market cap of $45B, experiencing a 78% growth in just the last 30 days
The sector will surpass 2024's annual revenues of $500 million, with growth expectations ranging from 100 to 1,000 times over the next decade due to the interaction of over 13 million devices connected to some decentralised physical network (Messari).
7. Maturation of the NFT Market and Blockchain-based Games
We have seen a resurgence in the NFT sector, with wealth effects catalysing digital collections reinventing themselves with new utility tokens for NFT holders while generating immediate effects in some blockchain games that benefit from this narrative.
DePIN Map | Source: Messari
Scalability in NFTs and protocol advances on various networks and Layer 2 solutions are attracting creators and investors, resulting in record sales in some iconic collections and others less known
This type of technology can be integrated into identity transactions, transfers, ownership, and memberships, in addition to representing and valuing assets This flexibility is what makes NFTs a strong utility vehicle that goes beyond a mere speculative investment instrument
Data from CryptoSlam shows that NFT sales in 2024 surpassed those of the previous year, reaching $8,717,690,339.66.
Although sales in 2024 are almost a third of the peak reached in 2022, the news about the launch of fungible tokens for blue-chip collections and the public sale of iconic collections like Crypto Punks by their creators are just some of the headlines generating buzz in the industry. Along with the increasing use cases of NFTs by major companies like Sony, Lamborghini, and IWC, these developments show that NFTs are not dead and are evolving alongside technology.
8. Fintech Drives Crypto Mainstream
In 2024, we observed how TON, with its 950 million users on Telegram, accelerated the race for crypto adoption through traditional apps. Now, Venmo, PayPal, and WhatsApp are experiencing growth in the crypto space thanks to the easy way to access or interact with cryptocurrency-friendly applications
Nowadays, it is easy to execute instant money transfers with just a message via apps and associated merchants on WhatsApp with networks like Stellar in the background and acquire cryptocurrencies from Metamask using traditional fintech platforms like Venmo
By 2025, fintechs will adopt more third-party applications to drive cryptocurrency trading from their interfaces with low entry barriers, thus capturing a share of the attractive crypto market and, in the background, pushing for the mass adoption of these assets
9. Market Dynamics: New ATH for Bitcoin?
In 2025, the institutional appetite for acquiring BTC for their reserves as a store of value or simply as a measure to expand their client portfolio, as well as the development of favourable regulatory frameworks that promote crypto adoption, will be key ingredients to catalyse Bitcoin's price, pushing it to new highs Analysts predict a price range between $180,000 and $200,000 by the end of this year
Of course, the altcoin market could also experience growth in 2025, with altcoins like Solana, XRP, and Ethereum leading the way as the expectations of their networks are met based on scalability, performance, and real-world utility, such as the creation of investment derivative products focused on these assets for institutional clients.
10. The Battle of L1s Resurges
The battle between the Layer 1 networks vying to dominate the decentralised application ecosystem is a trend to watch closely in 2025.
With Pectra on the way and an ambitious long-term roadmap, Ethereum, the undisputed leader of the ecosystem denoted by smart contracts, seeks to maintain its dominance by focusing on improving scalability that allows it to expand its RWA dominance and continue being the foundation for the development of institutional-grade dApps.
Solana, on its part, with its high speed and low costs, will attempt in 2025 to overcome the deficiencies concerning network stability and concerns about its centralization to continue driving NFT markets with Magic Eden as its principal driver while also expanding its dominance in the irreverent memecoin market
Finally, SUI, a Layer 1 network focused on scalability and performance, founded by the team at Meta who worked on Libra, aims to expand its capacity to handle massive transactions to increase its adoption in a strong blockchain technology sector: gaming
Additionally, the network seeks to attract developers to build fast and low-cost DeFi applications, trying to stay relevant alongside its closest competitors.
Final Thoughts
The cryptocurrency market is highly dynamic, and the trends outlined here can serve as a guide to finding the next “big project” that drives a gem for trading enthusiasts. However, remember to conduct your due diligence and research and consider that facts can change. New narratives could take precedence, just as memecoins did when no one considered them an investment
For that reason, in this unpredictable market, it is imperative to stay informed daily about the latest developments in crypto to be ahead of the key moments to watch in 2025.
Movement Network and MOVE Token
written by Chris
‘Move’ Forward? Introducing the Movement Network
Movement Network is a Layer 2 solution using MoveVM secured by Ethereum. It is primarily designed to provide developers with a powerful, efficient, and scalable platform for creating the next generation of dApps
This vision is becoming a reality thanks to the innovative advancements of the Move programming language and the incredible efforts of Movement Labs. They're building a network of blockchains, spearheaded by the Movement Network, that leverages the power of Move to deliver an unparalleled user experience.
Think of it this way: Move is like a new, supercharged engine for blockchain applications. It's designed with security at its core, making it much harder for hackers to exploit vulnerabilities. This translates to a safer and more reliable experience for everyone using dApps built on the Movement Network.
Here are some of the key features that set the Movement Network apart:
▪ Lightning-fast Speeds: Transactions are processed at incredible speeds, thanks to MoveVM's parallel execution engine.
▪ Uncompromising Security: The Movement Network prioritises safety and minimises the risk of exploits.
▪ Instant Finality: The Movement Network delivers instant finality, ensuring transactions are processed quickly and securely.
▪ Seamless Interoperability: The network is designed to connect with other blockchains, enabling the smooth flow of value and information.
In the following sections, we are diving deeper into these key features, exploring the history and the team behind the Movement network and how it is positioned to compete with its existing competitors.
The Genesis of the Movement Network
The Movement Network emerged from a simple yet profound belief: Move, the innovative programming language, should be accessible across the entire blockchain landscape, removing fragmentation. This vision was born from the realisation that the progress of decentralised technologies often stagnates when dominated by monolithic Layer 1s.
Movement Labs, driven by a shared passion for Move, is dedicated to democratising its adoption. Founded in 2022, the company secured a significant investment from Binance Labs in May 2024, further solidifying its commitment to bringing "Move Everywhere." This funding round, following a successful $38 million Series A, will fuel the development of open-source tools, frameworks, and protocols, empowering developers to effortlessly launch secure and performant Move-based rollups on various blockchains.
The Movement Network aims to bridge the gap between the technology of Move and the robust security and liquidity of Ethereum. Recognising the immense potential of the Asia-Pacific region, Movement Labs is actively fostering the growth of the Move development community within this dynamic region, providing resources and support to Asian developers.
Objectives & Motivation
Blockchain technology offers a decentralized platform for executing smart contracts, enabling a wide range of applications beyond simple currency transfers. However, the widespread adoption of Ethereum faces significant challenges, including:
▪ Scalability limitations: High transaction latency and low throughput hinder the user experience.
▪ Security vulnerabilities: Exploits in smart contracts pose a significant risk to users and the ecosystem.
While solutions like rollups have addressed some scalability issues, they have not fully mitigated security risks or significantly reduced transaction latency.
The Move programming language has its focus on resource-oriented programming and formal verification, offering a promising path towards addressing these challenges. However, the current Move ecosystem, primarily focused on nascent L1 chains like Aptos and Sui, lacks the established security, liquidity, and developer activity of Ethereum.
The Movement Network aims to capitalise on the strengths of both Move and Ethereum. By building a network of interoperable Move-based rollups secured by Ethereum, it, provides a secure and robust environment for developers to build innovative and scalable decentralised applications.
The Team
The team of Movement Labs consists of passionate builders and innovators united by a shared vision: to democratise and decentralise the growth of the Move programming language and build a vibrant ecosystem around it. They believe that Move has the potential to improve how we build and interact with blockchain networks, and they are committed to making it accessible to developers and users worldwide.
Meet the founders driving this exciting protocol:
Cooper Scanlon, Co-founder: Cooper's journey into the blockchain space began with a leap of faith, choosing to pursue his passion for building innovative solutions over traditional academia. This unconventional path led him to pioneer the first yield aggregator leveraging Move, a moment that ignited his vision for Movement Labs. With a unique blend of financial expertise and a deep understanding of decentralized systems, Cooper provides strategic direction and fosters a collaborative and innovative culture within the team.
Rushi Manche, Co-founder: A seasoned engineer with a background in database systems and security, Rushi brings a wealth of technical expertise to Movement Labs. His experience spans the Ethereum and Cosmos ecosystems, where he honed his skills as a smart contract engineer and contributed to the development of cutting-edge decentralized technologies. Recognising the limitations of existing Move-based networks, Rushi and the Movement Labs team embarked on a mission to bring the power of Move to the robust and secure Ethereum network.
Of course, that’s just the co-founders behind Movement Labs. The team is a diverse and talented group of individuals passionate about pushing the boundaries of blockchain technology. They believe that by working together and fostering open collaboration within the community, they can unlock the full potential of this transformative shift and build a more decentralised and inclusive future. All current team members can be found here
The MOVE Token
At the heart of the Movement Network lies the $MOVE token, the main token of the whole ecosystem. Designed to fuel the network's growth and empower its community, $MOVE plays a critical role in driving innovation while securing the future of Move-based blockchains.
source: Movement’s Blog
MOVE has a total supply of 10 billion tokens, with an initial circulating supply of 22.5%. This carefully designed token distribution prioritises community involvement, with 60% of the total supply allocated to the Movement Network ecosystem and community:
▪ Ecosystem & Community (40%): This portion is reserved for fostering a vibrant and thriving ecosystem, including:
▪ Staking Rewards: Incentivising validators who secure the network and ensure its smooth operation.
▪ Ecosystem Initiatives: Funding promising projects and initiatives built on the Movement Network through a grant program.
▪ Incentives & Liquidity Provisioning: Rewarding users and providing liquidity to bootstrap the ecosystem on Movement Network.
▪ Initial Claims (10%): Recognising the early supporters of the Movement Network, 10% of the tokens are dedicated to community members through mechanisms like MoveDrop and other initial claim activities.
▪ Foundation (10%): This allocation supports the ongoing operations of the Movement Network Foundation, ensuring the continued development, growth, and decentralisation of the network.
▪ Early Contributors (17.5%): Recognising the invaluable contributions of the dedicated team at Movement Labs, 17.5% of the tokens are reserved for early contributors across various participants.
▪ Early Backers (22.5%): Acknowledging the crucial support from early investors and strategic partners, 22.5% of the tokens are allocated to those who have played a vital role in the success of the Movement Network.
Token Utility
MOVE also serves as the utility token of the Movement Network, having a wide range of functionalities:
▪ Staking for Economic Security: MOVE holders can stake their tokens to become validators, securing the network and earning rewards in return. This staking mechanism, coupled with a fast-finality settlement mechanism, ensures the robust and secure operation of the Movement Network.
▪ Gas Fees: MOVE is the primary currency for paying gas fees on the Movement Network.
▪ Governance & Decentralization: MOVE holders will have a significant voice in shaping the future of the Movement Network through on-chain governance. Everyone is invited to participate in key decisions, propose and vote on governance proposals, and actively contribute to the decentralisation of the network.
▪ Native Asset: MOVE will serve as the native asset of the Movement Network, enabling liquidity, collateralisation, and payment within the ecosystem.
Therefore the MOVE token is not just a currency; it's the cornerstone of the Movement Network, empowering community members, and holders and also incentivising the innovation that can drive the future of Move-based blockchains.
The Movement Network has a novel approach to scalable and secure decentralised applications. At its core lies a sophisticated architecture that leverages some innovations to deliver a superior user experience:
1. MoveVM and EVM Convergence
The Movement Network distinguishes itself by its unique ability to execute both Move and EVM smart contracts within a single environment. This integration offers several key advantages:
▪ Developer Onboarding: By supporting both Move and EVM, it significantly lowers the barrier to entry for developers. Existing Ethereum developers can readily deploy their existing EVMbased applications on the network, while also exploring the enhanced security and performance benefits of the Move programming language.
▪ Enhanced Interoperability: The ability to interact between Move and EVM contracts within the same ecosystem unlocks new possibilities for interoperability and opens doors to the development of more sophisticated and interconnected applications.
2. Fast-Finality Settlement
The Movement Network introduces a fast-finality settlement mechanism, a significant departure from traditional optimistic or validity rollup approaches. This mechanism relies on a network of validators who stake their native tokens to ensure the accuracy of the network's state.
▪ Enhanced Security: By requiring a consensus among validators, the fastfinality settlement mechanism significantly enhances the security of the network, minimising the risk of fraudulent transactions and ensuring the integrity of the system.
▪ Rapid Transaction Confirmation: This approach enables near-instant transaction confirmation, providing a superior user experience and facilitating the development of high-performance applications.
3. Decentralized Shared Sequencing
The Movement Network utilises a decentralised shared sequencer (DSS), a key differentiator that provides several advantages:
● Sovereignty and Control: By employing a sovereign sequencer, the network maintains control over transaction ordering, minimising reliance on external sequencing marketplaces and ensuring the network's independence.
● Customization and Flexibility: The DSS enables customisable transaction ordering, allowing for the implementation of features such as fair ordering mechanisms to mitigate front-running attacks and enhance censorship resistance.
● Improved Token Utility: By collecting transaction fees directly, the DSS contributes to the increased utility of the MOVE token, further incentivising network participation.
4. The Move Rollup Framework
The network is built upon a secure and flexible framework known as Move Rollup. This modular architecture provides a foundation for creating a diverse range of Move-based rollups, each tailored to specific needs and requirements.
▪ Core Components: The Move Rollup framework comprises several essential components, including:
▪ Move Executor: The core engine that executes both Move and EVM transactions.
▪ Bridge Contracts: Facilitating seamless asset transfers between the rollup and the Ethereum mainnet
▪ Data Availability: Ensuring the accessibility of transaction data to the settlement mechanism.
▪ Settlement Mechanism: Verifying the correctness of transaction execution and ensuring the integrity of the network state.
➢ Flexibility and Customization: This modular architecture allows for flexibility and customisation, enabling developers to tailor rollups to specific use cases and optimise performance based on their needs.
5. The Move Executor: Powering Parallel Execution
At the heart of the Move Rollup framework lies the Move Executor, a powerful engine that integrates the MoveVM and EVM execution environments.
▪ Parallel Execution: The Move Executor leverages the parallel execution capabilities of the MoveVM, significantly enhancing transaction throughput and improving overall network performance.
▪ EVM Equivalence: By integrating with existing EVM interpreters, the Move Executor ensures that EVM-based applications execute seamlessly and predictably within the Movement Network environment.
Why Choose Move?
Ok, now the language called ‘’Move,’’ is a programming language designed specifically for building secure and efficient smart contracts. Unlike traditional languages like Solidity, Move prioritises ownership and safety, ensuring that assets are managed with precision and minimising the risk of vulnerabilities.
Here's a breakdown of key differences between Move and other popular platforms:
Data Storage
Parallelisation
Stored within the owner's account associated with a program Stored at a global address Stored at a global address
Capable of inferring parallelisation at runtime
Stored within the account associated with a smart contract
Key Advantages of Move:
▪ Enhanced Security: Move's strong ownership model and built-in safety features significantly reduce the risk of common vulnerabilities like reentrancy attacks, making it a safer and more reliable platform for building critical applications.
▪ Improved Performance: The MoveVM, with its focus on parallelisation and optimised execution, enables faster and more efficient transaction processing, leading to a smoother and more responsive user experience.
▪ Developer-Friendly: Move's intuitive syntax and robust tooling make it easier for developers to write secure and efficient smart contracts, accelerating the development process.
▪ Community and Ecosystem: The growing Move community and ecosystem provide developers with access to valuable resources, support, and a wealth of shared knowledge.
Developers choosing Move language can gain access to powerful and secure tools that empower them to build innovative and reliable decentralised applications with confidence.
The MOVE Launch
On December 9th, 2024, a significant milestone was reached for the Movement Network: the successful launch of the MOVE token generation event (TGE). This marked a key milestone by introducing the utility token to the community members, contributors and everyone who participated, fuelling the growth and development of the entire Movement Network ecosystem.
The MOVE token officially entered circulation around 12pm UTC on December 9th. It is now available on major centralised and decentralised exchanges, with the latest listings available on the official Movement Network Foundation X account
Mainnet Beta Launch
Just before the TGE, on December 2nd, the Movement Network Foundation successfully launched the Mainnet Beta. This phase allows validators to begin operations, including the deployment of follower nodes and RPC nodes. The Mainnet Beta also enables the network to commence building economic security on the Ethereum mainnet, a vital step in testing and refining the post-confirmation processes for the Movement Network.
A Bright Future Ahead
The MOVE TGE marked a new chapter for the Movement Network. With the launch of the core utility and governance token and the ongoing development of the Mainnet, the stage is set for a thriving ecosystem where innovation and community growth will flourish.
The team is excited to witness the positive impact of the MOVE token and the fact it surpassed $1.5 billion in market capitalisation since its launch. The contributions of the dedicated Movement community in bringing the superior security and performance of Move to the Ethereum ecosystem and vice versa.
The Movement Network: A New Era for Secure and Scalable Blockchain Applications?
The Movement Network is committed to offering a powerful and secure platform for building next-generation decentralised applications. The initial network's core functionalities along with the MOVE token, have the potential to bridge the gap between the security of Ethereum and the efficiency of Move.
The Foundation has been Built
The Movement Network leverages the strengths of both Ethereum and Move to provide developers with a unique set of advantages:
▪ Security: Move's emphasis on resource-oriented programming and formal verification minimises the risk of vulnerabilities often found in traditional smart contracts. Additionally, the network leverages Ethereum's established security measures for added peace of mind.
▪ Fast Speeds: The MoveVM's parallel execution engine enables the network to process transactions at incredible speeds, resulting in a significantly smoother user experience compared to traditional blockchains.
▪ Finality: Transactions are processed and finalised almost immediately, eliminating the waiting times associated with other networks.
Interoperability
The Movement Network prioritises interoperability, allowing developers to build dApps that can interact with other blockchains. This fosters a more interconnected and collaborative web3 space, unlocking new possibilities for innovation.
The Power of MOVE
Last but not least, the MOVE token serves as the lifeblood of the Movement Network ecosystem. Here's a final look at its key functionalities:
▪ Network Utility: $MOVE is used for various purposes within the network, including staking for validator rewards, paying gas fees, and participating in on-chain governance.
▪ Community Governance: $MOVE holders have a say in the future of the network by proposing and voting on governance proposals. This ensures a decentralized and community-driven approach to the network's evolution.
▪ Enhanced Security: Staking $MOVE incentivises validators to secure the network, further strengthening its overall security posture.
A Bright Future for Blockchain Innovation
The Movement Network, with its emphasis on security, speed, and interoperability, is wellpositioned to become a leading platform for building the next generation of dApps.
The successful launch of the MOVE token further strengthens the network's foundation and empowers the community to play a key role in its future success.
As the network continues to evolve, it has the potential to bridge the gap between the established security of Ethereum and the innovative potential of Move, ushering in a new era for blockchain technology.
CEX vs DEX Showdown
written by Daniel
We are in the midst of a bull run, and as a participant in this fascinating crypto world, choosing the right platform for trading digital assets that suit your needs is crucial.
With centralised options, known in crypto jargon as CEX (centralised exchanges), and their decentralised counterpart (aka DEX), understanding the differences between these two categories can help you select the platform that best aligns with your trading interests
Let us explore the key differences between these platforms, the current state of both sectors in cryptocurrency trading, and the advantages each offers users in general.
Understanding CEXs and DEXs
One of the most noticeable benefits crypto has given us is the ability to operate without intermediaries through a user interface where you have total control of your assets. Platforms that meet this criterion are known as Decentralised Exchanges (DEXs).
DEXs use smart contracts to enable peer-to-peer (p2p) transactions directly from users’ wallets, offering a certain degree of privacy and anonymity regarding funds.
On the other hand, we have centralised cryptocurrency exchanges, popularly known as CEXs. While these platforms provide high liquidity and customer support akin to traditional financial institutions, these advantages come at the expense of the decentralised control of funds that inspired the creation of Bitcoin and the crypto sector.
The State of DEXs
We observed a significant increase in DEX trading volume in the second half of 2024, which reached $985.1B, driven by the wide range of options available across various blockchain networks.
It is crucial to highlight that the last month of the previous year surpassed the figures achieved during the same period in the last DeFi Summer, with more than $3.5B added to the volume reached in December 2021, demonstrating users' growing interest in this type of platform ahead of the next bull cycle
Moreover, December 2024 was very close to reaching the highest recorded DEX trading volume, registering $255.6B, just 13% below the ATH DEX trading volume recorded in May 2021 at the peak of DeFi Summer.
Uniswap remains the preferred DEX among users, capturing 41.3% of the market share of the volume registered in the past week, which, when writing this post, amounted to $44B, followed by PancakeSwap, a Uniswap fork on BNB Chain, and Aerodrome as the top three DEXs by trading volume in the last seven days.
With over 135 million unique trading addresses on-chain, the DEX market continues to rise sharply, making it possible to surpass the milestones reached in the sector during the last DeFi Summer in 2021.
Ethereum remains the chain with the largest share of this market, accounting for 33.4% of the volume traded on decentralised exchanges. Solana continues to capture attention with solutions focused on the memecoin sector, such as Pump.fun
When writing this post, data from DefiLlama indicates that Solana has captured more than half of the daily volume on decentralised exchanges, with $3.36B.
Market Share in DEX by Volume |
Source: Dune Analytics
DEXs Volume by Chain | Source: DeFiLlama
DEXs Perpetual Swaps
There is one area that has captured attention in recent months, within the category of decentralised exchanges, mainly due to the hype surrounding the recently launched Hyperliquid protocol.
This platform has managed to establish itself among the established options for decentralised perpetual trading, surpassing sector leaders such as Jupiter, dYdX, and SynFutures, registering up to $8.44B in daily volume to dominate the sector with a market share of 58.78%.
Hyperliquid gets deployed on its own chain, and unlike its competitors, it offers users highperformance trading with a fully on-chain order book, enabling gas-free trading and specific mechanisms for high-frequency (HF) trading, which aligns it with centralised options
Hyperliquid has surpassed options like Jupiter and dYdX, which have previously dominated this market, which totals a daily volume of $14.35B, generating ⅓ of the total DEX trading volume in the last month of the previous year
Why do crypto users love DEXs?
Decentralised exchanges offer an advantage range that drives their adoption Since the rise of popular platforms like Uniswap and the fall of some relevant centralised exchanges (FTX, Mt.Gox), users have been adapting to the learning curve of using these platforms for crypto asset trading.
Look at some of the advantages of using DEXs, which can help you make an informed decision when selecting between the two significant options in the crypto trading industry.
● User control of funds: You always maintain your crypto's custody through wallets, where only you know the private key.
● Privacy and anonymity: Some decentralised platforms do not require registration or identity verification processes (KYC), allowing for privacy and anonymity in your transactions.
● Transparency: Transparency is another key feature of DEXs Its blockchain technology allows operating with visible smart contracts and verifies the entire onchain record in real time.
● Regulatory freedom: As the crypto market still enjoys an ambiguous regulatory window, most DEXs are outside the radar of local regulators, allowing global use from anywhere in the world without restrictions
● Access to early-stage tokens: One of the major advantages of using DEXs is the ability to acquire newly launched tokens in the early stages of promising projects, which could generate good profit, even when they are not yet available on traditional exchanges (CEXs).
● Direct transactions: Not being controlled by any central entity, DEXs facilitate direct transactions between users without intermediaries while avoiding being blocked by third parties as they do not depend on a central authority
What should I consider when evaluating the use of a DEX?
Decentralised exchanges represent the original spirit of Bitcoin and cryptocurrencies in general, and this applies to the positive aspects and some factors to consider when using this type of platform.
● Liquidity challenges: This remains one of the key considerations when using any decentralised platform These exchanges have lower liquidity, unlike CEXs, which can lead to high slippage and create difficulty when exchanging significant positions.
● Learning curve: For new crypto users, the learning curve can be slow due to the need to interact with wallets and smart contracts
● Speed and scalability: Especially on L1 solutions like Ethereum, DEXs often face slower transactions and high gas fees during usage peaks, which puts them at a disadvantage
● Smart contract vulnerabilities: Although DEXs are transparent, the smart contracts that underpin their architecture may have vulnerabilities that hackers can exploit.
● No recovery options: On the flip side, if a user makes a mistake in a transaction or loses access to their wallet, there is no way to recover their funds, as there is no customer support or protection against user errors
The state of CEXs
Now that we have a clearer picture of the key features of DEXs and their current situation in the market, it’s time to turn our attention to their centralised counterpart: CEXs.
Unlike decentralised options, CEXs have very deep liquidity, meaning their volumes surpass those of DEXs by a ratio of up to 80:20, as shown in the following chart:
In the past seven days, the total crypto spot volumes amounted to $686.9B ($35.8T annualised), with 82% coming from centralised options. In this category, exchanges such as Binance, Crypto.com, and Bybit stood out by volume Together, they represent 50% of the daily volume in the crypto exchange (CEX) market
It's interesting to look at the general ranking of Crypto Exchanges by Messari chart to highlight the stark contrast between DEXs and CEXs, where the top 8 positions are held by centralised options, even while only two decentralised options make it into the Top Ten Crypto Exchanges by Volume (24h).
CEX vs DEX Volume | Source: Messari
On the other hand, it is imperative to highlight a current reality in the cryptocurrency exchange sector: the slowing down of CEX volume after FTX vanished While it is true that CEXs will remain, the ratio between DEX and CEX indicates higher DEX activity in recent months, even with Binance consuming a considerable portion of the market share.
Some analysts speculate, pointing out that this high activity in DEXs is associated with whales and degens busy making multiple trades, reflecting a growing adoption of decentralised platforms.
As Hayden Adams, founder of Uniswap, pointed out, the DEX-to-CEX volume ratio has reached an all-time high of 20%, highlighting a growing shift towards decentralised trading platforms driven by their enhanced transparency, security, and control over assets
Top 10 Crypto Exchanges by Volume | Source: Messari
| Source: The Block
Benefits of CEXs
● Similar to DEXs, centralised exchanges offer several advantages for users that are important to highlight:
● The first aspect is ease of use. Unlike the decentralised counterpart, CEXs offer an intuitive interface and simplified features that allow them to adopt a broader user base.
● One of the most noticeable benefits of CEXs is undoubtedly their deep liquidity They have higher trading volumes, facilitating large transactions without significantly affecting prices
● By operating in centralised environments and processing orders off-chain, the transaction speed on CEXs is much higher than that of their decentralised counterparts
● Another significant benefit for users adopting these platforms for crypto asset trading is the integration with fiat currencies.
● On the other hand, CEXs provide direct technical assistance to users and customer support, which helps resolve issues or errors
DEX to CEX Ratio
The Grey Side of CEXs
Since the conception of the fateful Mt. Gox, trust in centralised cryptocurrency exchanges has always been the focus of discussion. And it’s not without reason: the hacking risks to which various CEXs have been exposed, with unfortunate consequences for users, have highlighted the lack of transparency in the control of users' funds and the vulnerability due to errors in their interfaces.
According to data from Chainalysis, during 2024, stolen funds increased by approximately 21.07% year-on-year, reaching $2.2 billion, with the number of incidents rising from 282 in 2023 to 303 in 2024.
Total
Value Stolen in Crypto Hacks | Source: Chainalysis
The report highlights that although DeFi continued to represent the majority of stolen assets in the first quarter of 2024, centralised services were the most attacked in the second and third quarters of the previous year.
The custody of users' funds in the hands of the exchange is one of the major weaknesses of these platforms, making them vulnerable to hackers.
The reliance on third parties for the security of funds and the lack of transparency in internal operations, where users cannot audit independently, create a perfect environment for hiding bad practices that put users' funds at risk
The main issue with centralisation remains the contradiction with the decentralisation principle of cryptocurrencies, as private companies that can even freeze funds and restrict user access under the guise of regulation are the ones managing them
Equally important, a final factor worth highlighting about CEXs is the payment of high transaction fees, especially for frequent transactions or large volumes compared to DEXs
In conclusion, while CEXs are a convenient and efficient option, particularly for newcomers to the crypto world or experienced traders seeking advanced functions and quick market access, the dependence on third parties and the risks associated with centralised custody are crucial factors you should consider when selecting a platform Remember: "Not your keys, not your funds."
Key Differences Between CEX and DEX
▪ Liquidity: Due to the considerable number of users and market-making assets, using a CEX can benefit liquidity. DEXs may face liquidity issues when executing highvolume trades, possibly resulting in wider spreads and higher slippage, especially for less popular trading pairs
▪ Privacy and Anonymity: Due to the strict regulatory compliance in the sector, CEXs require users to go through identification procedures (KYC). If this inconveniences you, you might consider using a decentralised platform that allows trading without requiring personal information
▪ Fees: Transaction fees are a factor to consider if you're a regular crypto trader. In this regard, DEXs offer the lowest trading fees, although gas fees fluctuate on platforms operating on L1 solutions
▪ User Experience: CEXs offer the most user-friendly interface with advanced trading features However, while this is not the strength of DEXs, platforms like Hyperliquid are working to close this gap without risking user control of funds
▪ Security: Although CEXs frequently claim to implement robust security measures and conduct Proof of Reserves, their centralised nature makes them more attractive targets for hackers. The user control of private keys in DEXs is an unmatched point that almost eliminates the risks associated with centralised custody. However, any possible vulnerabilities in the code are a point to consider when evaluating DEXs
Which Exchange Is Right for You?
Choosing between a CEX and a DEX depends on your individual needs and priorities:
● A DEX may be more suitable If you prioritise privacy and control over your assets.
● If you value higher liquidity, faster transactions, and user-friendly interfaces, a CEX might be the better choice.
Final Thoughts
In the fascinating world of cryptocurrency trading, centralised and decentralised exchanges play a key role in these asset's adoption in an increasingly digitalised world with a strong focus on privacy and transaction anonymity
While these platforms offer unique advantages and considerations to study when choosing them, don't forget that only you can control funds custody and safe practices when trading with your choice
I love the original decentralisation driven by the birth of Bitcoin. I am also aware of the fundamental role CEXs play in crypto adoption to achieve the desired liquidity when executing a trade. Who doesn't remember the risks involved in the Bitcointalk forums when executing a trade?
The ghosts of the past, such as the collapse of Terra and the downfall of FTX, are just examples of what is not exempt in crypto if you don't make wellinformed decisions. As Lisa pointed out in Moon Mag - Issue 13, in this world, no one is too big to fall!
WAGMI or NGMI?
A Typical Crypto User
written by Josh
I am grateful to have close friends around me with whom I regularly keep in touch. I’ve known these friends for years, decades even, and they are very aware that I have been in crypto for a solid amount of the last 4 years. They are often very thoughtful enough to ask me how crypto is going and sometimes they are even intrigued enough to entertain the conversation for longer than 5 minutes. Usually, the conversation culminates with one or two of them suggesting they ‘must get into crypto and see what it’s all about’, but I sometimes wonder if it’s said for conversation's sake. And perhaps as a gentle nudge to keep me from wittering on and on about why the tech behind crypto can actually be a force for good….
It got me thinking, however. We all make choices every day, and there is always a reason why someone does or does not do something, so I wanted to explore the traits and behaviours behind the ‘typical crypto’ enthusiast and explore how crypto could become more diverse as a result of these understandings.
Broadly speaking, crypto attracts a diverse array of individuals. However, research indicates that certain personality traits are more prevalent among crypto enthusiasts. Understanding these traits sheds light on the current demographic and offers insights into how the crypto landscape might evolve to appeal to a broader audience.
Are You a Typical Crypto User?
Take the Test!
Before diving into the psychology behind crypto adoption, take this quick five-question test to see how well you align with the typical crypto user:
1. Do you enjoy exploring new technologies and financial systems?
○ A) Yes, I love discovering and testing innovations.
○ B) Sometimes, if it seems interesting.
○ C) No, I prefer sticking with what I know.
2. How do you feel about financial risk?
○ A) I embrace it I see risk as an opportunity.
○ B) I take some risks but prefer stability overall.
○ C) I avoid financial risk whenever possible.
3. What’s your attitude toward traditional banking?
○ A) I distrust banks and prefer decentralized systems.
○ B) Banks are fine, but I like having alternative options.
○ C) I trust traditional banks and see no need for alternatives.
4. Do you like to be in control of your own financial decisions?
○ A) Absolutely, I prefer managing everything myself.
○ B) I like some control, but I also value expert advice.
○ C) I’d rather let professionals handle my finances.
5. How do you react to market volatility?
○ A) I thrive on it and see it as part of the game.
○ B) It makes me nervous, but I try to manage it.
○ C) I avoid volatile investments at all costs.
Results:
Mostly A’s: You fit the typical crypto user profile! You enjoy innovation, financial independence, and risktaking.
Mostly B’s: You share some traits with crypto enthusiasts but might prefer a more balanced approach.
Mostly C’s: Crypto may not be your natural environment, but as the industry evolves, it might offer more options that suit your preferences.
The Typical Crypto User: A Psychological Profile
Studies have identified a correlation between crypto adoption and specific personality characteristics. Notably, individuals drawn to crypto often exhibit traits such as openness to new experiences, curiosity, and a strong sense of independence. Many crypto users are early adopters of technology, eager to explore new financial innovations and challenge traditional banking systems (Frontiers in Psychology).
A high tolerance for risk is another significant factor. Crypto is known for its volatility, and those who invest in it typically exhibit a greater comfort with financial risk. This aligns with findings suggesting that entrepreneurial-minded individuals who embrace uncertainty are more likely to engage with crypto assets (UEEX Blog).
Additionally, the fear of missing out (FOMO) plays a crucial role. The rapid appreciation of certain crypto assets has led some individuals to invest hastily, driven by the anxiety of missing potential gains. This impulsive behaviour is often linked to personality profiles that prioritize immediate rewards over long-term planning (ResearchGate).
Other research has highlighted that crypto investors tend to be more independentminded, sceptical of traditional financial institutions, and drawn to decentralized finance (DeFi) due to its promise of financial sovereignty. A study by Cambridge University found that crypto adopters often have a libertarian or anti-establishment mindset, preferring self-custody and control over their assets rather than relying on banks and regulatory bodies (Cambridge Centre for Alternative Finance).
Why These Traits Align with the Crypto Industry
The decentralized and often unregulated nature of crypto offers an appealing playground for individuals with these traits. The promise of substantial returns in a short period attracts those with high-risk tolerance and a desire for financial independence. Moreover, the autonomy and lack of oversight in crypto markets may appeal to individuals who prefer operating outside traditional systems, aligning with entrepreneurial and pioneering mindsets.
The novelty and complexity of blockchain technology also attract those who see themselves as innovators and problemsolvers. The ability to navigate this complex landscape successfully can reinforce a sense of competence and forward-thinking. Additionally, crypto trading, NFTs, and decentralized finance gamification appeals to those who enjoy strategic decision-making, exploration, and learning about cutting-edge technology.
Evolving Crypto to Attract a Broader Audience
While individuals with specific traits dominate the current landscape, the future of crypto depends on expanding its reach to a broader demographic. Here are some ways crypto could evolve to appeal to different personality types:
1. Reducing Risk and Increasing Stability
● The extreme volatility of crypto deters many potential investors. Stablecoins and more regulated digital assets could offer a bridge for those who prefer stability and predictability.
● Government-backed digital currencies (CBDCs) may provide a compromise between decentralization and trust for risk-averse individuals.
2. Enhancing Security and Transparency
● Improved consumer protection measures, including insurance for crypto holdings and stricter regulatory oversight, could make digital assets more appealing to mainstream investors.
● Transparent governance models, such as decentralized autonomous organizations (DAOs) with clear rules and accountability, could increase trust among those wary of scams and manipulation.
3. Simplifying Access and Education
● The technical barriers to entry put many people off. Simplified onboarding, user-friendly wallets, and educational resources tailored for beginners could attract a broader audience.
● Crypto exchanges and DeFi platforms could offer more intuitive interfaces, catering to those who are less tech-savvy but still interested in digital assets.
4. Appealing to Community-Oriented Individuals
● The social aspects of crypto could be expanded to attract those who value collaboration over competition. DAOs, cooperative investment groups, and blockchain-based social impact projects could cater to those who prioritize collective growth over individual gain.
● Charity and sustainability initiatives within blockchain could appeal to ethical investors who want to support environmental and social causes.
5. Integrating Crypto with Everyday Life
● If crypto transactions become more seamlessly integrated into everyday payments such as through debit cards linked to crypto accounts or direct payments at retail stores adoption may rise among those who currently see it as impractical.
● Tokenised rewards systems and loyalty programs could encourage broader engagement from those who might not otherwise invest directly in crypto assets.
WAGMI or NGMI?
While the current crypto user base may skew toward individuals with specific personality traits, there is ample opportunity for the industry to evolve. By addressing concerns related to risk, complexity, and trust, crypto can become more inclusive, appealing to a wider range of individuals and fostering a more diverse and stable financial ecosystem.
The key to mass adoption lies in making crypto accessible and appealing to people beyond the traditional tech-savvy, risk-taking demographic. As blockchain technology continues to mature, its potential to reshape the financial world will depend on its ability to cater to different personalities, risk appetites, and financial goals.
The telltale sign of this having been successfully implemented will be when that conversation with my friends finally clicks with them and inspires action to take place!
Until then, they’ll have to ensure my persistent explanations a few more times. Not that I mind, though. Have I told you about why the technology behind crypto can actually be a force for good?
