In the cryptocurrency market, besides looking at technology and data, I also pay special attention to community and market sentiment. Because in a highly narrative-driven industry, sentiment often determines the pace of capital influx.
The community atmosphere of Bitlayer has noticeably warmed up in the past few weeks:
The discussion volume about Bitlayer on Binance Square and X continues to rise;
Community users have a strong sense of participation, not only in sharing information but also in actively creating content, such as sharing tutorials, writing experiences, and even organizing small discussions;
The 'self-propagation' effect driven by activities is prominent, such as the Booster Campaign and airdrops, all of which have formed secondary dissemination within the user group.
This phenomenon has two key values for investors:
Traffic equals consensus
In the crypto world, a project's market value is often highly related to its narrative dissemination ability. The ability of Bitlayer to form self-propagation indicates that it has surpassed the stage of 'needing official continuous communication' and has truly formed a community-driven approach.
Community is the moat
Technology can be imitated, capital can be diverted, but once community sentiment is established, it is difficult to shake. Especially in the unique track of the Bitcoin ecosystem, the beliefs and emotions of users often determine the lifecycle of a project.
Of course, investors must also remain rational. Sentiment can sometimes exaggerate short-term value, such as a sudden increase in TVL during an event, but it may fall back afterward. Therefore, the focus of observation is not on 'short-term fluctuations,' but on whether the community's enthusiasm can continue to translate into long-term user retention.
From the current signs, the community sentiment of Bitlayer is gradually forming a 'self-circulation,' which means it has the opportunity to become one of the representative projects of Bitcoin Layer2 narratives.
For investors, such projects often have a higher risk-return preference ratio.