Animoca’s Yat Siu says crypto’s Trump moment is over

Core Insights - The cryptocurrency market's previous reliance on political figures, particularly Donald Trump, is diminishing, indicating a shift towards structural factors driving the market [1][2][4] - Institutional capital is becoming a significant and permanent force in the crypto markets, leading to a long-term asset class perspective rather than short-term trading based on political events [2][5] - The relationship between Bitcoin and altcoins is evolving, with Bitcoin being viewed as a reserve asset akin to gold, while altcoins are expected to demonstrate real utility in the productive economy [6] Industry Dynamics - The convergence of cryptocurrency and artificial intelligence is highlighted, with blockchain technology providing the necessary trust and sovereignty for autonomous systems [3][7] - Hong Kong is positioned as a key player in the intersection of global finance and emerging technology, particularly as the Consensus event returns to the city [3] - The recalibration of the crypto market is seen as a response to the realization that previous momentum was driven more by expectations than by fundamental value [4][5]