JamesX's On-Chain Observation Diary 🧙♂️ Issue Eleven 6.10
Today, many friends are discussing a rumor — Hangzhou has started investigating blockchain practitioners, fortunately, I am a blockchain consumer (retail investor), so they shouldn't be able to find me.
Below is today's on-chain project review + a brief discussion on new alpha opportunities 👇
1️⃣ @virtuals_io
Recently, the quality of projects has been average, but tomorrow night they will launch $IRIS. This project has been pinned by @virtuals_io, retweeted by @ethereum, and rated as a Tier 1 project by @VaderResearch, so of course, I am going all in with my points.
The simplicity of the Virtual ecosystem lies here; good projects don't need much investigation, everything is clearly communicated to everyone.
2️⃣ $KTA fud incident
On-chain detective @zachxbt commented on $KTA:
L1s w/ token preproduct + large tax at launch for a “serious” project = pumping to insane valuation will always be funny
https://t.co/8hqKoJWovk
He believes this KTA product is technically rough, has a high trading tax, and is highly controlled. This comment directly caused $KTA to shrink by 1/3.
However, after everyone calmed down and thought about it, aren’t most of the coins we play with just buying an ethereal, “potentially realizable” product? At least the KTA's backers are much wealthier than others. From my personal perspective, “the product is bad” is hard to become a reason for selling.
3️⃣ $HYPE ATH
I have said the word “Congratulations” so many times now.
Is it possible that the overflow of hype emotions could lead to hype producing cash cows? At least the platform token $liqd of the dog-fighting platform has already risen.
I found a tutorial on hype dog fighting for everyone.
https://t.co/C6TSvMOjuC by: @Huang2024
4️⃣ New creation from Pump — $verse
vRseBFqTy9QLmmo5qGiwo74AVpdqqMTnxPqWoWMpump
The project party itself took 97% of the supply; pump first supported a token, reaching a peak of 1b (circulating market cap 30m)
Looking at the circulating market cap, considering the pump retweet, it’s actually not particularly high. However, they cleverly created a 1b market cap by locking 97%, which indeed clears the cognitive barriers for their coin's 4b valuation, allowing the market to see that merely being under the pumpfun brand can easily reach 1b.
Interestingly, @Pumpbtcxyz, who was forced to give up their ticker, expressed strong dissatisfaction: “Say NO to the Cabal🫵”
