Weekly Editors Picks (0316-0322)

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郝方舟
3 months ago
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High-quality in-depth analysis articles and a weekly cram session on hot topics.

Weekly Editors Picks is a functional column of Odaily. In addition to covering a large amount of real-time information every week, it also publishes a lot of high-quality in-depth analysis content, but they may be hidden in the information flow and hot news and pass you by.

Therefore, our editorial department will select some high-quality articles worth spending time to read and collect from the content published in the past 7 days every Saturday, and provide those in the crypto world with data analysis, industry judgment, opinion output, etc. You bring new inspiration.

Next, come and read with us:

Weekly Editors Picks (0316-0322)

Investment and Entrepreneurship

Bitcoin is facing a demand shock. What is a demand shock? What is its impact?

So far, the ETF launched on January 11 has resulted in an average daily demand of 4,500 Bitcoins (trading days only), while at the same time, the average daily mining volume of new Bitcoins is only 921. The supply of newly mined Bitcoin has not kept pace with demand, resulting in ETF issuers having to source primarily from the secondary market. Bitcoin price surges.

At the current demand rate of about 4,500 Bitcoins per day, it would take 573 days to balance the exchange, so its clear theres still a long way to go.

Given the inflexible supply of Bitcoin, a new equilibrium can only be found at the price level. We’ve seen Bitcoin prices rise so much in recent months, the demand for ETF issuance and the upcoming halving exacerbating the problem.

There are several other factors supporting Bitcoin prices this year, the most important of which are the U.S. platform allowing registered investment advisers (RIAs) to include Bitcoin ETFs in client portfolios and the Federal Reserve’s expected move later this year. Cut interest rates.

A brief discussion on Ethereum spot ETF: approval probability and price impact

There are “securitization risks” associated with ETH ETF approval. It seems that spot whales and derivatives traders are not expecting enough and preparing for the approval of the spot ETH ETF.

In terms of price growth, the price performance of ETH is not inferior to that of BTC. On the one hand, the inertia of investors in the crypto market prompts them to sell BTC and buy ETH when the price of BTC rises sharply, bridging the cash liquidity stored in BTC to cryptocurrencies such as ETH. At the same time, the rapid return of cash liquidity provides more support for the price of ETH, and the relatively high volatility of ETH brings higher growth potential. It’s only a matter of time before ETH prices reach new highs.

The approval of spot ETFs will only speed up the above process, but it doesnt matter if it is not approved. The price of ETH may see some volatility or even a significant correction. But in a bull market environment, the gap caused by the decline will be quickly filled, and the upward trend of ETH prices will not fundamentally change.

Other competitors will undoubtedly take away more of the cash liquidity that originally belonged to ETH. Competition for existing cash liquidity will be one of the main challenges for ETH.

Chainalysis: 2023 Global Cryptocurrency Market Revenue Overview

On-chain data is used to estimate investors’ cryptocurrency returns based on the flow of crypto assets into and out of services where crypto assets can be transferred in and out of fiat currencies. The total return for all cryptocurrency investors in 2023 is $37.6 billion.

Weekly Editors Picks (0316-0322)

Now that MEME coins are rampant, where should the five mainstream narratives such as Layer 2 go?

the author thinks:

  • AI+DePIN will definitely be the main narrative of this bull market. The reason is very simple: a new story, highly malleable and slow to implement.

  • The scalability of the Layer 2 track is also strong enough. Modular combination new chain, Rollup As A Service, Stack strategy, Layer 3 application chain, Paymaster subsidy war, Tokenomics catalyst, Primitive component commercialization output, etc. can all be used. point. The current Layer 2 is essentially a soft fork of the Layer 1 main network, standing on the shoulders of giants, carrying out Crypto-Native chain changes in a more flexible and autonomous way, which to some extent also empowers Ethereum. A second life.

  • BTC seems to be more suitable for promoting a series of BTC Layer 2 derivative ecology, because it has stronger consensus, obvious technical flaws, and weak sense of technical boundaries and principles. Use the BTC main network as the settlement layer, and then build a system that can release The BTC derivatives market is uniquely endowed with huge liquidity.

  • The potential of Solanas high-concurrency transactions in DePIN narrative, the reshaping of SUI Move language in DeFi security, and the development of a series of parallel EVM chains such as Sei, Artela, and Monad.

  • Chain abstraction is the culmination of account abstraction + modularity. Based on user experience, it lowers the threshold with more to-B service forms such as intermediate chains or chains-in-chains, allowing a wider group of Web2 people to enter web3 There will be a smoother and silkier user experience, thus changing the fundamentals of Crypto’s niche and existing market game.

Airdrop opportunities and interactive guide

Potential airdrop? Taking stock of 12 Web3 game projects worthy of attention in March

The article briefly introduces Saga Protocol, Notcoin, BlockGames, Nifty Island, Nyan Heroes, Upland, Apeiron, BloodLoop, Shuffle, Earn Alliance, AI Arena, and WUFFI.

Tool Guide: Track VC Trends and Find the Next High Potential Coin

The article first introduces the common functions of DeFillama, Spot On Chain, and CryptoRank, and then gives a method to profit from these VC data: Create an X (Twitter) list and add to it the projects that have raised funds from VC and that you find the most interesting. Official

What are the necessary development knowledge for airdrop enthusiasts?

A technical basic post.

Meme

Exploring the value of a meme: Financial nihilism, a new social security

Meme coins reflect society’s commitment to safeguarding digital property rights through free and open markets. Meme coins are one of the purest expressions of citizens exercising their freedom to transact, and people do not need to justify legal purchases and sales; their preferences should be the arbiters of economic decisions, highlighting the principles of individual autonomy and market freedom.

It is easy to view such activities as"financial nihilism". Some of the reasons for meme coin activity are likely driven by financial nihilism. The sentiment reflects a broader trend of pessimism, fueled by inflation, uncompetitive wages, unaffordable housing, unsustainable sovereign debt and political polarization.

What meme coins have in common with social security is community-based value, redistribution mechanisms, and reliance on new participants.

Safety

Cobo Security Team: Guide to Blockchain Secure Transactions

The core principles of safe transactions: reject blind signatures, do not sign transactions or messages that you do not understand, and take the trouble to verify repeatedly.

Bitcoin Ten Thousand Coin HouHow do they keep their Bitcoins?

Wanbihou have different options: multi-signature, SSS, MPC and single signature.

There is no consensus on the best way to protect Bitcoin.

Bitcoin Ecology

Bitcoin native economics, understand the rules behind this bull market in one article

A basic introduction to Bitcoin, suitable for newcomers to understand.Weekly Editors Picks (0316-0322)

The Ultimate Guide to the 2024 Bitcoin Halving

Before and after each halving, Bitcoin’s price is driven by multiple factors beyond scarcity. The 2024 halving event takes place against the backdrop of massive Bitcoin ETF inflows, increased on-chain activity, strong momentum, and overall market maturity.

As the macro environment improves, including expected Federal Reserve rate cuts, Bitcoin seems destined to emerge in the corridors of the law of power. It has been through its longest bear market, and large miners have braced themselves for the consequences of the halving of rewards.

EarnBITs analysis team believes that Bitcoin will rise to $55,000 to $60,000 before the halving, with a full-year range of $32,000 to $85,000.

Ethereum and Scaling

Cancun upgrade completed, will the LRT track catalyze the Ethereum ecosystem?

The core driving force behind the launch of this round of LRT narratives are two key conditions: the interest-earning ability of LRT’s underlying assets and the application scenarios of LRT.

At present, many LRT protocols do not issue tokens, and the homogeneity of projects is serious. But the more optimistic ones are KelpDAO, Puffer Finance, and Ion Protocol. These three types of protocols have development routes that are obviously different from other LRT protocols.

Weekly Editors Picks (0316-0322)Weekly Editors Picks (0316-0322)

LRT protocol

The logic behind re-pledge is mainly divided into two parts. One is the shared security of the ecosystem within ETH, and the other is users’ demands for higher returns.

The Pendle protocol supports the explosion of LRT. Using Pendle, users can lock in ETH-denominated airdrop earnings (based on market airdrop expectations for EigenLayer and LRT protocols) and leveraged liquidity mining.

EigenLayer is a super connector that simultaneously connects the three major sectors of Staking, infrastructure middleware and DeFi; it plays the role of a bridge in Ethereum re-pledge and is an extension of Ethereums encryption economic security; its market demand and supply are very Sturdy.

EigenDA is a pre-explored version of Danksharding, the expansion solution under Ethereums Rollup-centric Roadmap. To put it simply, it is the youth version of sharded storage.Weekly Editors Picks (0316-0322)Weekly Editors Picks (0316-0322)

EigenLayer ecological related projects

The future of LRT racing remains a rapidly growing niche market. Future opportunities include: multiple combinations with other DeFi protocols (such as lending), security improvements, and multi-chain expansion.

A look at the top four parallel EVMs: Monad, Sei V2, Neon and Eclipse

Weekly Editors Picks (0316-0322)

Monads are well positioned in the upcoming parallel EVM narrative. Despite slightly lower performance than Sei, Monad has received the most hype and attention. However, the cryptocurrency story is quickly disappearing. Monad will have to capitalize on this short-term hype to bootstrap their ecosystem.

In addition to competing with each other, these competitors must also compete with Ethereum, Layer 2, and second-generation blockchains such as Solana, Avalanche, and Polygon. These adversaries have all had more time to develop their communities and ecosystems.

The appeal, innovative technology and impressive performance of shiny new products will likely turn heads when Monad, Sei and Eclipse are launched. Long-term success will depend on their ability to capitalize on this attention and allow users and developers to continue to develop their own thriving ecosystems and communities.

A look at 35 noteworthy modular protocols

The article reviews Aethos, AltLayer, Astria, Avail, Babylon, Blockless, Caldera, Cartesi, Celestia, Conduit, Drosera, Dymension, Eclipse, EigenLayer, EigenDA, Espresso, Ethos, Fluentxyz, Fuel, Hyperlane, Hyperspace AI, Initia, Karak , LaGrange, Lava Network, MegaETH, Mitosis, Movement labs, Neutron, Omni, Plume, Risc Zero, Ritual, Ternoa, Taiko.

Multiple ecology and cross-chain

Stronger than Ethereum, take a look at the 8 major public chains worth paying attention to

Solana: a model model for post-disaster reconstruction; Avalanche: RWA + chain game dual-line narrative takes shape; Sui: on-chain liquidity is greatly improved; NEAR: DA + chain abstraction + AI; APT: Web3 mobile phone learns Solana, and on-chain liquidity accelerates; Arweave: Developing AO and developing new narratives; Telegram: The elephant turned around with 900 million users; Filecoin: The FVM ecology is dying.

Analysis of 10,000 words dYdX development history: Why did you abandon L2 and decide to build your own L1?

When dYdX met Starkware, a turning point came. The V4 version is coming, and dYdX has transformed into Layer 1.

Some lessons learned from the evolution of dYdX: infrastructure development is still critical; Rollup is not a panacea, and flexibility is crucial.

LD Capital: Return to AI’s NEAR, superimpose multiple narratives or usher in value discovery

NEAR currently has three main narratives, namely Chain Abstraction (CA), Data Availability (DA), and AI.

AXL has risen by more than 30%. What other projects can be ambushed in the cross-chain interoperability track?

Entangle、Connext、Hyperlane。

DeFi

Solana MEV Guide: Another Dark Forest Beyond Ethereum

MEV on Solana isnt going away.

Not all MEVs are bad.

Profitable front-running is possible not only in AMMs, but also in DEX liquidity venue structures.

Solana’s constant block production and lack of an in-protocol mempool changes the default behavior and social dynamics of the blockchain.

Others might fork or otherwise try to replicate Jitos off-protocol memory pool to extract more MEVs, but this would be difficult both technically and socially.

Many validators support the decision to remove the Jito mempool and give up sandwiching revenue to support the long-term development and health of Solana.

GameFi

Taking stock of 12 AI+GameFi worthy of attentionproject

AI+GameFi is divided into three categories: improving player experience through AI agents, introducing AI to generate content to enrich the game ecosystem, and decentralized physical infrastructure projects close to DePIN for gamers - the boundaries between categories are not clear.

The article further introduces colony, NIM Network, Futureverse, Palio, Ultiverse, Today, Sekuya Multiverse, Sleepless AI, Ai Hero, GameGPT by PRISM, GamerHash Al, GAIMIN.

Web3×AI

Metrics Ventures Research Report: Starting from Buterin’s article, what are the subdivided tracks of Crypto×AI that are worth paying attention to?

Except for a few celebrity topics (such as ARKM and WLD), the AI ​​​​track as a whole is more like a MEME dominated by technical narratives.

From the four possible combinations proposed by Vitalik, we can see the trade-off between narrative charm and implementation possibilities:

  • AI as a player in a game

  • AI as an interface to the game

  • AI as the rules of the game

  • AI as the objective of the game

In the first and second categories represented by AI applications, we have seen many GPT Wrapper. The products are launched quickly but the business homogeneity is also high. The first-mover advantage, ecosystem, number of users and product revenue become Stories to tell in homogeneous competition. The third and fourth categories represent the grand narrative of the combination of AI and Crypto, such as the Agent on-chain collaboration network, zkML, and decentralized reshaping of AI. They are all in their early stages. Projects with technological innovation will quickly attract funds, even if Its just a very early implementation.

Hot Topics of the Week

Over the past week, Bitcoin spot ETFs have traded for four days in a rownet outflow, BTC hits highest since FTX crashBiggest one-day dropEthereum FoundationHas been subject to official investigation by a certain country,Ethereum Spot ETFApproval was postponed again;

SlerfThe founder mistakenly destroyed LP and airdrop reserved tokens, which unexpectedly became popular, and later launchedPre-sale rescueAction will be taken to provide refunds to affected pre-sellers and contributorsIssue soul-bound NFT, Meme ProjectCOCOOver 42,000 SOL raised in 2 hours, Meme projectSNAPRaised over 50,000 SOL, Binanceonline Book of Meme(BOME),Fundraising MemeThe project exploded,SolanaWelcome the Golden Age, Meme ProjectLADYS: Milady Wif Hat pre-sale refund has been initiated, SOL will be sent to the original wallet,Solana LianchuangAnatoly Yakovenko calls for an end to funding pre-sale projects;

In addition, in terms of policy and macro markets, the Fed dot plot maintains this year’s cumulativecut interest ratesThree expectations,GPIF, the world’s largest pension fundSeek information on assets such as Bitcoin and plan to diversify your investment portfolio.GenesisAsking the court to approve the settlement agreement, Gemini Earn users may receive US$2 billion in assets;

In terms of opinions and voices, Grayscale CEO: It is expected that in the next few monthsLower GBTC feesCoinGecko: The RWA wave is rising, and tokenized U.S. debt has grown more than 6 times last year.SBF: A 50-year sentence is only suitable for a supervillain,Current CEO of FTX: When he took over, there were only 105 BTC left on the FTX exchange.ether.fiFounder: Justin Sun’s huge airdrop is in compliance with the rules and more airdrops will be provided to small depositors in the first quarterairdrop68 million tokens, ETHFI will gradually transition tocommunity governance

In terms of institutions, large companies and leading projects,CZA new project, Giggle Academy, will be launched to provide free basic education,Polyhedra NetworkAirdrop application is open,AevoOnline trading and staking incentive plan,StarknetIt is planned to introduce parallel trading functions in the second quarter of this year;

NFT and GameFi areas,OpenSeaLaunching the Seaport 1.6 NFT Marketplace Protocol…well, another week of ups and downs.

Attached is the Weekly Editors Picks seriesportal

See you next time~

Original article, author:郝方舟。Reprint/Content Collaboration/For Reporting, Please Contact report@odaily.email;Illegal reprinting must be punished by law.

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