Crypto: 5 events that you may have missed

This week, the crypto ecosystem was marked by several notable facts and developments. Here they are:

Five major crypto events that you may have missed

From the rise of AI in DeFi to the restructuring of THORChain, soaring revenues on Solana and the market downturn, here are the key points to know.

This week, the crypto ecosystem was marked by several notable facts and developments. Here they are:

A $88 million fund for AI-powered DeFi agents

The 0G Foundation announced the creation of a fund of $88.88 million aimed at accelerating the development of projects integrating artificial intelligence in decentralized finance (DeFi). This fund aims to support autonomous DeFi applications, known as DeFAI agents, in partnership with investment firms such as Hack VC, Delphi Ventures, Bankless Ventures, and OKX Ventures. According to Michael Heinrich, co-founder and CEO of 0G Labs, this initiative comes at a crucial time for the convergence of blockchain and AI.

213% increase in application revenues on Solana in the fourth quarter

A report from crypto research firm Messari reveals that application revenues on the Solana network increased by 213% in the fourth quarter of 2024, rising from $268 million in the third quarter to $840 million. This growth is mainly attributed to speculation around memecoins, with platforms such as Pump.fun recording significant revenues.

THORChain approves a $200 million debt restructuring plan

The decentralized liquidity protocol THORChain has suspended its lending and savings programs for bitcoin and ethereum to avoid a solvency crisis. THORChain node operators approved a proposal to convert debt into equity, thus stabilizing the crypto network’s operations and compensating affected users.

Support from Christopher Waller for regulated stablecoins to strengthen the dollar

Christopher Waller, governor of the American Federal Reserve, expressed support for the adoption of stablecoins with clear rules, believing that this could reinforce the dollar’s status as a global reserve currency. He emphasized that dollar-backed stablecoins could expand the international reach of the American currency.

Drop in the DeFi market?

According to crypto data, the majority of the top 100 cryptos by market capitalization finished the week in decline. The Virtuals Protocol token (VIRTUAL) dropped by more than 46%, while Arweave (AR) fell by over 38% over the past week.

Between crypto innovation and challenges

These events illustrate the dynamics and current challenges of the crypto ecosystem, marked by technological innovations, market fluctuations, and regulatory developments.

This week highlighted the opportunities and challenges of the crypto market, between innovation and turbulence. The rise of AI in DeFi, the restructuring of THORChain, and the explosion of revenues on Solana contrast with falling prices. These trends depict a sector in full evolution, one to watch closely.