The crypto market has been highly volatile recently, largely due to uncertainty surrounding macroeconomic conditions. However, there have been several bullish regulatory developments, including the SEC dropping ongoing cases against multiple crypto companies such as Coinbase, Uniswap, OpenSea, Robinhood, Gemini, Kraken, and Yuga Labs. The ongoing deregulation in the United States is a positive signal for many companies that were previously constrained in their ability to build and launch new products.

At the same time, ETHDenver—a major annual conference dedicated to the Ethereum ecosystem—was held in Denver. Known for attracting developers, founders, investors, and enthusiasts from across the blockchain space, the event serves as a hub for networking, collaboration, and showcasing the latest advancements.

ETHDenver has evolved beyond just Ethereum, now representing a broader spectrum of the blockchain industry. This year’s conference was more subdued, with smaller crowds, less spending on activations, and an overall atmosphere of cautious optimism. Despite this, there were still plenty of exciting developments.

Key Takeaways from ETHDenver:

AI Agents & Blockchain

Speculative AI agents—such as memecoins for reply bots—recently saw a major crash, leading to growing fatigue. However, interest remains strong in AI agents with real utility, most of which don’t require their own token. AI struggles with trust, while blockchain faces challenges with app adoption—making them a natural fit for each other. Blockchain can provide transparency, verifiability, and on-chain execution for AI-driven applications.

Too Many Chains, Not Enough dApps

New chains continue to launch, each promising faster transactions and lower fees. However, with speed and cost now largely optimized, these factors are no longer major differentiators. The real challenge is attracting high-quality dApps that provide long-term utility and ensuring strong distribution channels to onboard new users. Without compelling applications, even the most efficient blockchains struggle to gain traction.

Zero-Knowledge: The Future of Privacy & Trust

While blockchain’s transparency is a strength, not everything should be publicly visible. For mainstream adoption—especially among institutions like banks—privacy must be preserved while maintaining trustless verification. Zero-knowledge (ZK) proofs unlock solutions like private identity and confidential transactions. Projects like ZKSync and Aztec stood out during the conference.

Stablecoins: Crypto’s Most Proven Use Case

Stablecoins remain one of crypto’s most successful and widely used innovations. As adoption grows, stablecoins are set to continue to dominate 2025, serving as a backbone for payments, remittances, and DeFi. The focus is shifting toward enhancing their regulatory clarity, efficiency, and integration across both crypto-native and traditional financial systems.

NFT Communities: Beyond the Hype Cycle

While the speculative frenzy around NFTs has cooled, strong communities continue to build. Bored Ape Yacht Club and Tribute Labs stood out for their authenticity and ongoing commitment to their ecosystems. With new infrastructure and use cases emerging, NFTs could surprise the market with a resurgence in 2025.

Farcaster: The Next Big Platform for App Distribution

App distribution is key, and Farcaster is here to stay. Developers are leveraging Frames to drive engagement and reach targeted users more effectively. Notably, Coinbase Wallet is integrating a Farcaster feed, allowing apps to distribute content via Frames directly within the wallet—highlighting the growing importance of seamless distribution and marketing for dApps.