Pepe the Wick
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Ethereum L2 vs alt L1
To be honest, in the story of expanding the network for mass adoption, only Layer 2 on #Ethereum provides the highest level of reliability.
There will be no model that can solve the impossible trilemma: Decentralization, Security, Scalability. Developers are forced to sacrifice one aspect to trade for the remaining two.
Among the current top L1s, Solana, Sui, and Hyperliquid have already chosen to sacrifice decentralization from the beginning in exchange for speed and cost, so there's nothing more to say; there’s no need to discuss scalability anymore.
There will be no model that can solve the impossible trilemma: Decentralization, Security, Scalability. Developers are forced to sacrifice one aspect to trade for the remaining two.
Among the current top L1s, Solana, Sui, and Hyperliquid have already chosen to sacrifice decentralization from the beginning in exchange for speed and cost, so there's nothing more to say; there’s no need to discuss scalability anymore.
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Break out. The next few weeks will be the best time for $UNI to turn on the Fee Switch. If that happens, countless merits 🙏
Gm! Pump day.
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Wen #altseason
This season, users have become much smarter. It's no longer the case that a lengthy whitepaper and a beautiful website will entice users to invest. Users generally know or know how to find sources to evaluate the project's fundamentals. Not to mention that this season's capital flow comes largely from institutions, and institutions are not lacking in brains.
The thesis this season divides into two extremes: really good or gambling. If it's just mediocre without a narrative, then it’s clear that only market makers and day traders will be involved, with no holders. Therefore, since the beginning of the season, the trend has always been BTC + memecoins.
Another point is that this season, there are projects everywhere while the capital flow is not significantly better than last season, and with users being smarter, the difficulty of the game increases.
As Arthur Hayes said: “It’s fundamental szn btches”.
Alt season always exists, but it’s not for everyone. Only for projects with solid fundamentals.
This season, users have become much smarter. It's no longer the case that a lengthy whitepaper and a beautiful website will entice users to invest. Users generally know or know how to find sources to evaluate the project's fundamentals. Not to mention that this season's capital flow comes largely from institutions, and institutions are not lacking in brains.
The thesis this season divides into two extremes: really good or gambling. If it's just mediocre without a narrative, then it’s clear that only market makers and day traders will be involved, with no holders. Therefore, since the beginning of the season, the trend has always been BTC + memecoins.
Another point is that this season, there are projects everywhere while the capital flow is not significantly better than last season, and with users being smarter, the difficulty of the game increases.
As Arthur Hayes said: “It’s fundamental szn btches”.
Alt season always exists, but it’s not for everyone. Only for projects with solid fundamentals.
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$BTC closed the candle in the D frame with quite stable volume. Expecting a test around 103x with low volume then a pump afterwards would be stronger than going straight.
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QUICK OVERVIEW OF THE TOKENOMICS OF SOME TOP MARKET REVENUE PROJECTS - $UNI $CAKE $HYPE
UNI - Uniswap
Generating around $1.2 billion in fees annually.
0.25% of transaction volume is interface fees ($5 - $10M per month) flowing to Uniswap Labs, while the remaining LP fees belong to Liquidity Providers => UNI holders receive no value, lmao.
Moreover, UNI's tokenomic design does not cap the total supply. The initial total supply = 1B, and after the vesting period is over, the permanent inflation process of 2% per year begins. Although this figure is not too large (~21% after 10 years), it gradually erodes the value of holders.
Generating around $1.2 billion in fees annually.
0.25% of transaction volume is interface fees ($5 - $10M per month) flowing to Uniswap Labs, while the remaining LP fees belong to Liquidity Providers => UNI holders receive no value, lmao.
Moreover, UNI's tokenomic design does not cap the total supply. The initial total supply = 1B, and after the vesting period is over, the permanent inflation process of 2% per year begins. Although this figure is not too large (~21% after 10 years), it gradually erodes the value of holders.
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After the SEC did not list staking as securities, the staking queue increased dramatically to $ETH . The queue reached 346K ~900M, the highest number in the past 12 months.
Once staking ETF is approved, the amount staked is expected to increase even more.
$ETH
Once staking ETF is approved, the amount staked is expected to increase even more.
$ETH
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Positioning Projects in the Crypto Market
Most general-purpose blockchains and projects on them will gradually die if they do not find a niche.
We have too many blockchain networks, but looking back, only a few networks have real users.
First, in terms of surface, blockchain has two user segments: #consumer and #investor.
The consumer group is currently very small and often does not care what blockchain is; what they use is the product's features. So, essentially, blockchain is left with only one user segment, which is investors, including investors, airdrop farmers, yield farmers, and market makers. So don't be surprised when the market is purely PvP.
We have too many blockchain networks, but looking back, only a few networks have real users.
First, in terms of surface, blockchain has two user segments: #consumer and #investor.
The consumer group is currently very small and often does not care what blockchain is; what they use is the product's features. So, essentially, blockchain is left with only one user segment, which is investors, including investors, airdrop farmers, yield farmers, and market makers. So don't be surprised when the market is purely PvP.
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Previous seasons had a small BTC market capitalization, so it was easy for SM to take profits without needing too much liquidity to exit the cycle.
This season has the participation of ETFs, Blackrock, the United States, and many countries, so taking profits now requires a huge amount of liquidity.
The battlefield now is a battle of organizations, while liquidity from retail is like toothpicks. So in the coming time, don't be fooled by posts from organizations A, B, and C raising billions of dollars to buy BTC and feel bullish. That could actually be liquidity for larger whales to take profits.
Smart money is indeed smart money, but there are smarter big players.
This season has the participation of ETFs, Blackrock, the United States, and many countries, so taking profits now requires a huge amount of liquidity.
The battlefield now is a battle of organizations, while liquidity from retail is like toothpicks. So in the coming time, don't be fooled by posts from organizations A, B, and C raising billions of dollars to buy BTC and feel bullish. That could actually be liquidity for larger whales to take profits.
Smart money is indeed smart money, but there are smarter big players.
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In the middle of this year, we will have an Ethereum season, then at the end of the year, we will have a RWA, and another stablecoin season will be a complete success 🥹
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The market is in a comfortable trading range, do what you want to do. If you want to buy or sell, go ahead, but don't wait until the price moves and then chase it, because either you'll buy high or sell low.
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Organizations can use Private Blockchains and not issue tokens, but there is one thing they cannot do without, that is Oracle and Crosschain Solution. #Chainlink is always considered the standard of this field. Not to mention Swift.
$LINK
$LINK
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$ETH is in an important area to break out. That Short position may no longer be protected as whales have likely taken profit and reopened a Long position at shakeout.
Next retest & $2k8 👀
Next retest & $2k8 👀
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If there is no MM to trade, there will never be Spring trees like this.
Having MM means having a profit-making group = pump dump
Having MM means having a profit-making group = pump dump
$BTC is the biggest CTO.
Initially created by developers and then a group of technology enthusiasts joined CTO.
After a while, the profits were too high, and this group sold off => Whales entered CTO.
=> Whales sold off => VCs entered CTO
=> VCs sold off => Countries entered CTO
Decentralization or Permissionless is just a story. The ultimate goal is still profit extraction.
If the profit potential is not visible, the market will not move.
Therefore, to know if a project or coin is still alive, we need to see if that project still has a profit extraction group.
Initially created by developers and then a group of technology enthusiasts joined CTO.
After a while, the profits were too high, and this group sold off => Whales entered CTO.
=> Whales sold off => VCs entered CTO
=> VCs sold off => Countries entered CTO
Decentralization or Permissionless is just a story. The ultimate goal is still profit extraction.
If the profit potential is not visible, the market will not move.
Therefore, to know if a project or coin is still alive, we need to see if that project still has a profit extraction group.
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There is a notable trigger for #Ethereum this May, which is the approval of the Staking ETF.
Next deadline: 1/6. Final deadline: October.
The day of coming out of the cave is not far away 😂
$ETH
Next deadline: 1/6. Final deadline: October.
The day of coming out of the cave is not far away 😂
$ETH
See original
$BTC is the biggest CTO.
Initially created by developers and then a group of technology enthusiasts joined CTO.
After a while, the profits were too high, and this group sold off => Whales entered CTO.
=> Whales sold off => VCs entered CTO
=> VCs sold off => Countries entered CTO
Decentralization or Permissionless is just a story. The ultimate goal is still profit extraction.
If the profit potential is not visible, the market will not move.
Therefore, to know if a project or coin is still alive, we need to see if that project still has a profit extraction group.
Initially created by developers and then a group of technology enthusiasts joined CTO.
After a while, the profits were too high, and this group sold off => Whales entered CTO.
=> Whales sold off => VCs entered CTO
=> VCs sold off => Countries entered CTO
Decentralization or Permissionless is just a story. The ultimate goal is still profit extraction.
If the profit potential is not visible, the market will not move.
Therefore, to know if a project or coin is still alive, we need to see if that project still has a profit extraction group.
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