Crypto Midday Roundup: Funding Milestones, Price Forecasts & Risk Alerts
Several significant developments emerged across crypto and traditional finance this morning (Oct 13, 7:00-12:00), spanning AI funding, blockchain price predictions, institutional shifts, and security advisories.
Major Moves in AI and Layer-1 Sectors
The intersection of AI and blockchain saw a major update. AI project DeepSeek is nearing the completion of a funding round reaching 100 billion yuan. This colossal investment, if secured, would set a new benchmark for the AI sector and potentially accelerate integrated applications of AI and blockchain technology.
In parallel, asset manager Bitwise released a long-term outlook for the NEAR protocol. The report forecasts that NEAR's price could surpass $500 by 2030. This optimistic projection is based on an evaluation of NEAR's technical architecture, developer ecosystem, and its leading position in sharding technology, offering a long-term valuation perspective for the Layer-1 landscape.
Macro Winds Shift, Institutions Adopt Caution
Warning signals flashed in broader markets. Tom Lee, co-founder of Fundstrat Global Advisors, highlighted that the recent sharp decline in South Korean equities could spill over into the cryptocurrency market. Such cross-market risk contagion has been observed in past cycles, reminding investors to monitor sentiment across financial markets.
Global asset management giant BlackRock made a notable tactical pivot. The firm has shifted to an overweight position on short-term U.S. Treasuries for the first time in six years, while simultaneously downgrading its rating on U.S. stocks. This move is often interpreted as a defensive stance against rising near-term volatility or uncertainty regarding interest rate paths, potentially affecting liquidity for risk assets overall.
Long-Term Conviction Meets Immediate Security Concerns
Ark Invest, led by Cathie Wood, maintained its long-term bullish stance on Bitcoin. The firm reiterated its five-year optimistic outlook for Bitcoin, specifically noting that stablecoins are altering the financial narrative in emerging markets, creating new infrastructure and use cases for Bitcoin and broader crypto adoption.
On the user security front, prominent NFT creator Yuga Labs issued an urgent advisory. It recommended users immediately review and revoke any old contract approvals granted to the third-party marketplace Blur. This precaution aims to mitigate risks associated with potential smart contract vulnerabilities and future compatibility issues during platform upgrades, safeguarding user assets. Regularly managing wallet approvals remains a critical security practice.