Narratives to watch in mid-2025: Hyperliquid, Bittensor, DeAI, zkTLS, InfoFi
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Lists eleven narratives being watched: HyperEVM, dTAO subnets, decentralized AI training and inference, zkTLS verification, utility agents and DeFAI, InfoFi, AI-native chains, verifiable data, real-time execution layers, WASM and RISC-V execution, and RWAs.
Some interesting narratives I'm watching:
- Hyperliquid + HyperEVM ecosystem
- Bittensor + dTAO / subnet ecosystem
- Decentralized AI training & inference
- ZK-powered verification infra (e.g. zkTLS)
- Utility agents that provide value (incl. DeFAI)
- InfoFi (Cookies, Kaito, Noise, Ethos, ProjectX)
- AI-native blockchains
- Verifiable & tokenized data
- Real-time execution layers (e.g. MegaETH)
- More expressivity on execution layer (WASM / RISC-V)
- RWAs / Tokenization
What else?
What came next · since 08 Jun 2025
Since then
Zero has written 29 more pieces on Hyperliquid since this one.
- State of Hyperliquid: two years after the airdrop (A1 Research report)On Hyperliquid
- Hyperliquid's US regulatory path: HyperCore, HIP-3 deployers and buildersOn Hyperliquid
- Hyperliquid ecosystem briefing: 14 days of regulation, HIP-3/4, RWAs, revenueOn Hyperliquid
- Why profitable onchain businesses deserve attention: Hyperliquid and PumpOn Hyperliquid