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Dubai, May 1, 2025 — At this year’s TOKEN2049 Dubai, CoinEx, a leading global cryptocurrency exchange, made a strong return as a Platinum Sponsor, showcasing its impressive platform strength. This event has become a key gathering for the crypto industry, attracting blockchain professionals and crypto enthusiasts from around the world.
CoinEx’s booth at the event drew considerable attention, thanks to its innovative design and user-friendly platform presentation, further solidifying CoinEx’s leadership in the crypto industry. During the event, Jeff Ko, Chief Analyst at CoinEx Research, participated in an exclusive interview with NewsBTC, sharing insights on TOKEN2049, global crypto trends, and CoinEx’s long-term growth strategies.
Global Perspectives & Industry Trends
NewsBTC asked: “At TOKEN2049 Dubai, the focus seems to have shifted back to infrastructure building and innovation. How does CoinEx Research interpret this market narrative? Does this indicate structural changes in the crypto market?”
Jeff Ko responded: “From our perspective, this shift signals that the crypto industry is maturing, gradually moving beyond speculative hype toward real-world applications and structural sustainability. Stablecoins have emerged as a cornerstone of crypto adoption, providing an accessible entry point for both crypto-native and non-crypto users, especially in facilitating cross-border payments and advancing financial inclusion. In the future, with the establishment of more robust compliance frameworks, stablecoins will further bridge traditional finance and decentralized systems, enabling mainstream adoption.”
He continued: “Another transformative trend is the convergence of AI and blockchain. While the synergy between AI and crypto is still in its early stages, its potential is enormous, ranging from automating financial services via smart contracts to enhancing on-chain data analytics.”
Additionally, Jeff Ko mentioned next-generation trading tools like GMGN and Axiom. These platforms incorporate advanced features such as real-time data analytics, on-chain wallet tracking, and automated strategies, signaling a market shift driven more by infrastructure and tools than by pure speculation.
Distinguishing Between Hype and Fundamental Trends
Regarding popular narratives like Restaking, DePIN, and AI, NewsBTC asked: “How does CoinEx distinguish between short-term hype and long-term trends in these emerging narratives?”
Jeff Ko said: “While these emerging narratives often generate significant market attention, only a subset will ultimately have a lasting impact. We assess these sectors across several key dimensions: First, we look at technology maturity and real-world application—whether the project has a tangible product and a viable business model. Second, we monitor capital inflows and on-chain behavior to see if the interest is driven by genuine long-term conviction or short-term speculation. Lastly, we also consider how well the infrastructure demand matches actual supply. For example, in the DePIN sector, we analyze whether there is authentic and growing demand for decentralized compute, bandwidth, or storage services.”
He added: “We also focus on community engagement and ecosystem depth. Short-term hype tends to attract users motivated by airdrops or financial rewards, whereas sustainable ecosystems foster active developer participation, technical discussions, and meaningful contributions to protocol evolution.”
Underrated Sectors and Rapidly Emerging Ecosystems
NewsBTC further asked: “Are there any underrated sectors or ecosystems that CoinEx Research sees as rapidly emerging, particularly those tied to real-world applications?”
Jeff Ko responded: “Recently, we’ve observed the rise of a niche yet rapidly maturing sector—the Bittensor ($TAO) ecosystem. Bittensor represents a new frontier in blockchain innovation with its subnet architecture, enabling the creation of specialized, application-driven networks. Unlike conventional general-purpose chains, these subnets are designed for highly specific and high-value use cases that bridge the digital and physical worlds.”
He continued: “What makes Bittensor particularly compelling is the breadth and depth of its applied use cases. Projects within its ecosystem are addressing challenges such as decentralized AI inference and model hosting, accelerated drug discovery, climate modeling and environmental prediction, decentralized storage, and procedural generation of in-game assets. These applications highlight a shift from abstract experimentation to real-world problem-solving, signaling a new phase of blockchain maturity.”
Bear Market Observations & Investment Strategy
In the context of a market that has not fully recovered, NewsBTC asked: “How does CoinEx define ‘opportunities in the bear market’? Do you focus more on infrastructure building or emerging narratives?”
Jeff Ko answered: “At CoinEx, we view bear markets not as downturns to fear but as strategic windows for accumulation, innovation, and long-term positioning. We believe that ‘opportunities in the bear market’ refer to both stable yield strategies and value-driven investments that align with fundamental progress rather than short-term narratives. For example, the dollar-cost averaging (DCA) strategy for Bitcoin has consistently proven to be one of the most resilient strategies for weathering volatility.”
He added: “While new narratives such as Restaking, DePIN, and AI integration may spark innovation, they often face execution risks, unclear monetization paths, or early-stage adoption bottlenecks. Therefore, from a research and investment standpoint, we place greater emphasis on infrastructure projects that have real products, traction, and revenue models.”
Liquidity Reconstruction & Global Capital Shifts
NewsBTCcontinued to ask: “In the context of global capital flight and geopolitical risks, is there a shift in liquidity centers? Will the Middle East and Asia become new hubs?”
Jeff Ko responded: “We must keep in mind that the ample liquidity seen during the previous cycle, driven by QE, a low inflation and zero-interest-rate environment, is now a thing of the past.
Speaking of the shifting liquidity centers, Asia’s share of global crypto activity is undoubtedly significant, reflected by the flow of centralized exchanges, trading volume and institutional adoption, but regulatory heterogeneity and geopolitical risks temper its emergence as a dominant liquidity center. The Middle East’s potential as a liquidity center is growing, but it remains secondary to established hubs like North America and Asia due to scale and infrastructure constraints. In short, we think North America remains the primary liquidity center due to regulatory frameworks and institutional investment. Shifts toward Asia or the Middle East are incremental rather than transformative.“
He concluded: “The reconstruction of liquidity in the crypto market is not a zero-sum shift; traditional finance and the crypto market will coexist and complement each other.”
About CoinEx
Established in 2017, CoinEx is an award-winning cryptocurrency exchange designed with users in mind. Since its launch by the industry-leading mining pool ViaBTC, the platform has been one of the earliest crypto exchanges to release proof-of-reserves to protect 100% of user assets. CoinEx provides over 1400 coins, supported by professional-grade features and services, for its 10+ million users across 200+ countries and regions. CoinEx is also home to its native token, CET, incentivizing user activities while empowering its ecosystem.
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