Out with the Old, In with the New: Bitget Celebrates Lunar New Year — "Reviewing 2023, Exploring 2024" AMA Highlights
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Out with the Old, In with the New: Bitget Celebrates Lunar New Year — "Reviewing 2023, Exploring 2024" AMA Highlights
On January 23, Meta Era, Bitget, and Bitget Wallet jointly hosted a Lunar New Year AMA event themed "Reviewing 2023, Exploring 2024".
Navigating Web3 tides with focused insightsArticle author: Echo, Meta Era
This event aimed to thoroughly review the industry developments of 2023 and explore new opportunities in 2024, offering participants rich information and profound insights.
The AMA was hosted by Jason Xie, Head of Bitget's Chinese-speaking region, featuring prominent guests including Jack Kong, Founder of iPollo; Joy Lou, Partner at LD Capital; Vito, Co-founder of Meta Era; Junlong Huang, Co-founder and CEO of Gao Nuo International Accelerator; Ren Junfei, Founding Partner of Hong'an Fund; Karry, CEO of Bitget Wallet; Tommy, Head of Research at Bitget Wallet; Chris Lee, Co-founder of Merkle 3s Capital; Kevin, Asia Partner at CGV; Zheng Yushan, Founder of Waterdrip Capital; Thomas Zhu, Founder and Secretary General of the RWA Working Group; Gu Qianfeng, Co-founder of ChatPuppyNFT; Paolo Chen, CSO of VDX; Yang Liu, Professor at Nanyang Technological University, Singapore, and Co-founder of MetaTrust Labs & Scantist; Runnie Shang, Co-founder of EMC Labs; Roger Zhang, Founder of Substance Exchange; Victor Gao, Chairman of the Board at Triangle Technology; Harry, Founder of Snowballx; Jan Chan, Business Vice President and Hong Kong Lead at Kun KUN; Tim, Chief Analyst at PSE; Wang Zhizhong, Chinese Ambassador of Velo Protocol; Dr. Blackey, CFO and Co-founder of MUA DAO; Bao Er Ye (a.k.a. "Uncle Bao"), early Bitcoin OG; and Xu Ke, early Bitcoin code contributor.
At the beginning of the event, Jason Xie, Head of Bitget’s Chinese-speaking region and host of the session, delivered opening remarks. Aligning with the theme of this Space, he joined fellow panelists and attendees in reviewing key market highlights from the past year and expressed optimism about emerging opportunities in the crypto industry for 2024!
Below is a summary of highlights from the guests' insightful discussions:
Question One: How will ChatGPT trigger a modern "industrial revolution," and what transformative changes might it bring?
Professor Yang Liu, Professor at Nanyang Technological University, Singapore, and Co-founder of MetaTrust & Scantist, took the floor first on this topic. Drawing from his research in security applications, he demonstrated how ChatGPT can simulate the work of security auditors and explained the process of transforming general-purpose models into expert models.
On the same topic, CGV Asia Partner Kevin analyzed both ToB and ToC sectors, noting that Web3 can offer superior incentive models for each. He particularly emphasized distributed computing power, suggesting that combining AI with physical devices—amplified by Web3’s influence—could attract substantial capital inflows.
Under the same theme, Vito, Co-founder of Meta Era, added further insight, emphasizing that while tools themselves lack intelligence, they act as extensions of human capabilities. While endorsing AI agents, he remained optimistic about AI’s role in decision-making within Web3, believing it could help resolve many issues arising from centralization.
Question Two: What are your views on the future development of Blur and the broader NFT market, as well as the liquidity boom in NFTs?
Tommy from Bitget Research shared insights on Blur’s product strength and the future trajectory of the NFT market. He endorsed the principle of “liquidity above all” and highlighted that airdrops may represent one of the most certain wealth opportunities in 2024.
Question Three: Amid banking trust crises, the FTX collapse, and an environment rife with risks in blockchain’s "dark forest," how can asset security be protected? How should we view de-pegging events involving major stablecoins like USDC, USDT, and DAI during extreme incidents or amid FUD?
Roger Zhang, Founder of Substance Exchange, argued that discussions around asset security must begin with understanding the nature of exchanges. He stressed the need for reputable auditing firms capable of protecting user assets while assuming only acceptable levels of risk for returns. He believes liquidity should be unlocked to support ecosystem growth rather than remain trapped in inactive cold wallets.
Question Four: Ethereum’s Shanghai upgrade marked a critical step in its transition from PoW to PoS. How will the Layer2 market landscape evolve following the Dencun upgrade?
Gu Qianfeng, Co-founder of ChatPuppy NFT, discussed the potential market impact of the Cancun upgrade. He noted two key effects: reduced gas fees would attract more users into Web3, and the upgrade could generate speculative momentum for Ethereum.
Jan Chan, Business VP and Hong Kong Lead at Kun KUN, stated that every technological advancement improves efficiency, productivity, and production relationships. He predicted that within one to two years after the Dencun upgrade, the total value locked in Layer2 could surpass that of Layer1. However, he added that deeper Layer2 development depends on future Ethereum upgrades and whether bull markets continue attracting new participants from traditional finance.
Question Five: With the Hong Kong government championing Web3 development, what are your expectations for the city’s cryptocurrency industry?
Responding to news of the world’s largest Bitcoin summit launching in Hong Kong this May, Huang Junlang, Co-founder and CEO of Gao Nuo International Accelerator, offered his outlook. He expects Hong Kong to host increasingly more international events in 2024 and hopes the SAR government will establish additional matching funds to attract major tech firms and public chains. He also raised a thought-provoking question: if Hong Kong launches its own stablecoin, what real-world economic use cases beyond virtual trading might emerge?
Paolo, CSO of VDX, observed that recent significant user growth has largely come from traditional finance. In the short term, progress lies in bridging the gap between Web2 and Web3 asset ecosystems to onboard users. Long-term, however, the industry needs innovation at the asset layer, including deeper breakthroughs in underlying value creation.
Chris Lee, Co-founder of Merkle 3s Capital, pointed out differences between Hong Kong ETFs and U.S. ETF approvals, expressing hope that Hong Kong’s push for Web3 will open up new directions for its Web3 sector.
Question Six: Amid the meme-driven wave, how do you view the massive wealth effect of meme coins? How can ordinary users identify opportunities within them?
Karry, CEO of Bitget Wallet, sees meme coins as true RWAs (Real World Assets), highlighting their ability to turn social trends into tradable assets. Victor, Chairman of Triangle Technology, emphasized the accessibility of meme coin issuance mechanisms for retail users and foresaw strong potential in merging meme coins with DePIN. Wang Zhizhong, Chinese Ambassador of Velo Protocol, underscored the importance of community engagement in uncovering opportunities, noting that active participation builds valuable experience and increases the chances of catching the next big trend.
Question Seven: Why is BlackRock’s application for a spot Bitcoin ETF considered a milestone moment?
Runnie Shang, Co-founder of EMC Labs, viewed BlackRock’s spot Bitcoin ETF filing as a major breakthrough and a landmark contribution to crypto history. He noted that without Grayscale’s legal battle against the SEC, the approval of a Bitcoin ETF might still be far off. He believes Hong Kong holds a late-mover advantage, where physically-backed cryptocurrency index funds could offer greater value compared to U.S. spot ETFs. Furthermore, the realization of a Bitcoin ETF not only opens wider investment channels for Bitcoin but also positively impacts Hong Kong’s ETF ecosystem and active strategy funds like his own.
Question Eight: With the SEC frequently taking action, how should we interpret the lawsuits between Grayscale, Ripple, and the SEC?
Ren Junfei, Founding Partner of Hong’an Fund, suggested drawing parallels from the SEC’s lawsuit against Coinbase. The SEC classified over ten tokens listed on Coinbase as securities, triggering broad regulatory scrutiny—a core issue when discussing Grayscale and Ripple’s cases: the definition of token types. From another perspective, this also reflects the distinction between investment and speculation. If a token is perceived as having intrinsic value and expected to generate ecosystem dividends—similar to investing in a public company—it falls under regulation. But if it's seen merely as a vehicle for hype with no inherent value, it may escape SEC oversight.
Question Nine: Regarding the Tia project airdrop, what are your thoughts on getting rich through airdrops and how does this affect the project’s long-term development?
Tommy from Bitget Research stated that airdrops may be one of the most certain wealth opportunities this year. Taking Tia as an example, he highlighted its solid technical foundation and regulatory alignment. Its wealth effect has been remarkable—users who participated in the airdrop and staked Tia have seen returns of at least 20x. He predicts many application-layer projects will launch tokens based on Tia, potentially offering a portion of their airdrops to Tia stakers to drive traffic and acquire seed users. He also warned that if too many “shovel sellers” flood the market, the value of the shovels themselves will depreciate.
Question Ten: By enhancing the liquidity and composability of real-world assets, can RWA become a super gateway for new capital entering the crypto market? What future innovations might arise? And how should we approach regulatory and compliance challenges?
Dr. Blackey, CFO and Co-founder of MUA DAO, emphasized RWA’s essence lies in “de-risking,” aiming to enhance real-world asset liquidity and streamline regulatory compliance services. Harry, Founder of Snowballx, explored RWA’s composability from a private equity (PE) perspective. Meanwhile, Thomas, Founder and Secretary General of the RWA Working Group, stressed the importance of selecting projects that are standardizable, institutionalized, and conducive to compliance—especially in cross-border payments where stablecoins and RWA technologies can simplify investment processes, improve capital efficiency and turnover speed, thereby boosting market liquidity.
Question Eleven: With the “Summer of Inscriptions” upon us, how do you view the evolution and opportunities in the BTC inscription era?
Karry, CEO of Bitget Wallet, approached this from the user or investor angle, arguing that the current wave of inscriptions—exemplified by BRC20—is essentially a derivative of meme coins. Whether in cultural concepts, virality, or community building, it clearly exhibits strong meme coin characteristics.
Zheng Yushan, Founder of Waterdrip Capital, believes inscriptions have already fulfilled much of their historical mission. Despite the constant emergence of new protocols and inscription types, he doubts any new inscription will surpass the current market leaders.
Tim, Chief Analyst at PSE, emphasized that the greatest innovation of inscriptions lies in their redefinition of asset attributes. When small in scale, they trade like NFTs—fragmented liquidity but easy to operate. As they grow, they can list and transform into fungible tokens, achieving high liquidity and trading volume. Thus, he finds the innovation in asset design highly commendable.
Question Twelve: SOL price breaks $100—will it reach new highs in 2024? What are your expectations for Solana’s ecosystem and its notable projects?
Joy from LD Capital noted that SOL’s price trajectory heavily depends on broader market conditions, especially Bitcoin’s annual trend and when Grayscale’s market dominance ends. She anticipates a major market upswing this year, despite the current correction phase and bottom-finding period. Once complete, she expects a substantial rally—even if not matching the scale of 2021’s liquidity surge. Regarding Solana’s ecosystem, she considers it one of the most promising this cycle, especially its hyped DePIN and meme ecosystems, including inscription projects, which she expects to perform strongly throughout the year.
Question Thirteen: Please share investment opportunities worth watching in 2024.
On this topic, Jack Kong, Founder of iPollo, expressed optimism about Bitcoin’s future. He noted that 2024 marks the 15th anniversary of Bitcoin going from 0 to 1, and the next 20 years will be its journey from 1 to 100. In this new macro cycle, he believes Bitcoin has a strong chance of surpassing gold and becoming a key driver of digital asset and virtual economic development.
Joy from LD Capital believes timing is now more crucial than stock selection. In today’s FOMO-driven environment, the key is consistent investment and holding through volatility—especially during the darkest hours before dawn. Even amid sharp price swings, one should avoid being shaken out. Of course, choosing quality assets is essential, and Bitcoin remains one of the top candidates.
Xu Ke, early Bitcoin code contributor, likened today’s Web3 industry to the opportunity-rich era depicted in the popular TV drama *Blossoms*. “It’s not blossoms we love, but the era filled with opportunities.” She believes the past decade of Web3 resembles the stock market of the 1990s. With the approval of spot Bitcoin ETFs and the gradual mainstreaming of Web3, opportunities persist. What matters isn’t temporary wins or leads, but sustained participation—never leaving the field.
The successful conclusion of this AMA owes much to the insightful, clear, and compelling contributions of our distinguished guests, who helped us deeply understand the industry’s developmental trajectory and feel the exhilarating energy of an approaching bull market. Under the leadership of the Web3 era, technology will continue to drive positive societal transformation. We look forward to continuing our journey together, exploring the boundless possibilities of the Web3 age!
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