路人蝙

July 10, 2023

1. Bitkub completed US$17.8 million in financing last Monday, which was mainly funded by Asphere Innovations, a Southeast Asian entertainment giant headquartered in Bangkok. It is worth noting that Asphere’s current market value on the Thai Stock Exchange BKK is only about 1.2 billion yuan and US$170 million. If If there is no water in the amount of investment, I am extremely optimistic about this new exchange startup.

Their CEO was the founder CEO of Coin.co.th, the largest exchange in Thailand at the time, in 2014, and later turned to start up Bitkub in 2018. When I was writing this article, I went to CMC to take a look. The current daily trading volume is US$13 million, accounting for 95% of the local market in Thailand. As early as November 21, it sold 51% of its shares to Thailand's SCB. This time The financing seems to be just a game among chaebols.

Starting around July last year, I have been updating Twitter every week for a long time on financing news that I think is worth paying attention to. At that time, I paid slightly more attention to the GameFi and NFT categories, and I only lasted for more than three months and 100 days. It’s July again this year, and although Bitcoin has now returned to a price of over 30,000 US dollars, according to historical statistics, the monthly financing volume of Web3’s primary market is still at a new low in 21 years.

In fact, the crypto market has a strong four-year regularity due to the Bitcoin halving cycle. Now is also the time when the best batch of projects have the lowest valuations. Now try to start introducing some primary market projects every week again, hoping that the market will notice those truly outstanding startups and allow these best builders to survive the cold winter bell of the primary market.