# VC Strategy İlgili Makaleler

HTX Haber Merkezi, kripto endüstrisindeki piyasa trendleri, proje güncellemeleri, teknoloji gelişmeleri ve düzenleyici politikaları kapsayan "VC Strategy" hakkında en son makaleleri ve derinlemesine analizleri sunmaktadır.

Reflections and Confusions of a Crypto VC

An encrypted VC's reflection on the current crypto investment landscape, which is undergoing a significant reset. Token exits, once the primary driver of outsized returns, are being redefined in real-time, with no established valuation framework yet emerging. Key market shifts include: the rise of tokens like HYPE, which demonstrated that token prices can be backed by real, on-chain revenue, forcing a reassessment of governance tokens with weak fundamentals; a massive supply shock from meme coins (e.g., PUMP) fragmenting liquidity; and the diversion of retail speculative capital into prediction markets, stock perps, and leveraged ETFs. Major questions VCs are now grappling with: whether they are underwriting equity, tokens, or a hybrid; what constitutes best practices for on-chain value accrual beyond potentially toxic token buybacks; and whether the "crypto premium" will vanish entirely, compressing token valuations to traditional equity multiples and potentially crashing Layer 1 valuations by over 95%. The author argues the pendulum has swung too far towards quantitative DeFi metrics and that qualitative factors like culture, innovation, and security remain crucial for non-DeFi projects. The conclusion is that token return expectations have compressed significantly, pushing later-stage investors towards "Web2.5" companies with tangible revenue. Crypto VCs must now prove their value beyond capital by offering strong branding and value-add to founders to survive.

marsbit04/13 01:33

Reflections and Confusions of a Crypto VC

marsbit04/13 01:33

Where Is Crypto VC Money Flowing in 2025? Analyzing 6700+ Funding Rounds

In 2025, cryptocurrency funding rebounded strongly, reaching $25 billion—the second-highest year on record after 2021. A key difference this year is the more sustainable nature of the investments. After analyzing 6,723 funding rounds, three major trends emerged: Prediction markets (e.g., Polymarket and Kalshi) were the biggest winners, becoming the only Web3 sector to attract mainstream adoption. Real-world assets (RWA) and cybersecurity also saw significant investment, reflecting crypto’s maturation as part of the global financial system. Seed-stage funding has evolved: AI enables leaner product development, allowing startups to bootstrap longer and raise later with stronger traction. The largest funding rounds highlight crypto’s divergence into three parallel tracks: speculative and cultural assets (e.g., meme coins, niche L1s like Monad), information and prediction markets, and financial infrastructure (e.g., stablecoins from Circle, Ripple, and Bullish). Major exchanges like Kraken and Gemini also raised pre-IPO rounds. Overall, the data shows crypto is maturing, with growing institutional participation and clearer use-case differentiation.

marsbit01/08 07:22

Where Is Crypto VC Money Flowing in 2025? Analyzing 6700+ Funding Rounds

marsbit01/08 07:22

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