The cryptocurrency investment paradigm is rapidly changing. As investors increasingly choose transparent asset portfolios over uncertain startup futures, Digital Asset Treasury (DAT) funds are emerging as the new protagonists in the blockchain investment ecosystem.
From January to August this year, cryptocurrency startup VC investments dropped by 56% to 856 deals compared to the same period last year. The investment scale also decreased by 26% to $6 billion, excluding large investments from Binance.
The reasons for DAT's popularity are clear. It allows immediate market valuation, has excellent liquidity, and creates a virtuous cycle where capital inflows increase when trading at a premium relative to net asset value.
There are concerns that this trend towards 'easy money' is constraining the early startup ecosystem, which is the foundation of innovation. However, paradoxically, it also indicates that the cryptocurrency industry is maturing. This is because investors are focusing on substantial value creation rather than illusory visions.
Currently, funds are concentrated on projects with clear revenue models and verified regulatory compliance, such as stablecoins, DePIN, and zero-knowledge proof technologies. Experts predict that the DAT market will soon undergo restructuring, with only 2-3 large DATs surviving per asset.
For the Korean blockchain industry, this is an opportunity. Its strengths in creating sustainable value under strict regulatory frameworks align well with market changes. The cryptocurrency market is transitioning from speculation to value investment.
