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🔥 **Is the 'vein' of Web3 bleeding?** @WalletConnect $ETH
WalletConnect——the invisible highway of the on-chain world (connecting 90% of dApps to wallets), yet trapped in the **'powering with love' dilemma**: annual revenue of $2 million vs $190 million market value, a 60x price-to-sales ratio comparable to a tech bubble!
💥 **Magical realism is unfolding:**
- User frenzy: free connections 27.5 billion times, cross-chain payments are exhilarating ✅
- Token collapse: private placement institutions are harvesting retail investors, a flash crash of 60% in May 📉
- Giants strangling: MetaMask is using Snaps to steal homes, security vulnerabilities frequently targeted by phishing groups ⚔️
🛑 **Deadly paradox:**
Technology is revered yet fails to make money, ecological hegemony cannot stop the token economy from #crashing! If within six months the **'free highway' cannot be turned into a 'toll road'**, this Web3 vein may be burned to ashes by fierce competition.
#WalletConnect
WalletConnect——the invisible highway of the on-chain world (connecting 90% of dApps to wallets), yet trapped in the **'powering with love' dilemma**: annual revenue of $2 million vs $190 million market value, a 60x price-to-sales ratio comparable to a tech bubble!
💥 **Magical realism is unfolding:**
- User frenzy: free connections 27.5 billion times, cross-chain payments are exhilarating ✅
- Token collapse: private placement institutions are harvesting retail investors, a flash crash of 60% in May 📉
- Giants strangling: MetaMask is using Snaps to steal homes, security vulnerabilities frequently targeted by phishing groups ⚔️
🛑 **Deadly paradox:**
Technology is revered yet fails to make money, ecological hegemony cannot stop the token economy from #crashing! If within six months the **'free highway' cannot be turned into a 'toll road'**, this Web3 vein may be burned to ashes by fierce competition.
#WalletConnect
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WalletConnect serves as a core infrastructure for Web3, connecting over 600 wallets and 61,000 dApps through cryptographic protocols, having processed 27.5 billion connections, with a penetration rate exceeding 90%, becoming the de facto standard in the industry. Its recent additions of payment, cross-chain (20+ public chains), and login features significantly enhance the DeFi experience, and the launch of the WCT token (with a circulation rate of only 18.6%) empowers governance and staking.
**Advantages**: Strong technical barriers, significant ecological network effects, and leading multi-chain compatibility.
**Risks**:
1. **Competitive Pressure**: Solutions like MetaMask Snaps threaten its role as a neutral connector;
2. **Token Defects**: Small price difference between private placement and opening price leads to selling pressure, with a 60% flash crash in May exposing liquidity crises;
3. **Revenue Dilemma**: 90% of connections are free, with annual revenue of only $2 million, resulting in a severely overvalued 60 times price-to-sales ratio;
4. **Security Vulnerabilities**: Historical phishing attacks have weakened trust.
In the short term, it needs to accelerate the practical utility of the token (such as fee tiering) to support a market value of $190 million, while in the long term, it must break through the “tool attribute” dilemma, or it may fall into the trap of high valuation and low circulation. #WalletConnect
**Advantages**: Strong technical barriers, significant ecological network effects, and leading multi-chain compatibility.
**Risks**:
1. **Competitive Pressure**: Solutions like MetaMask Snaps threaten its role as a neutral connector;
2. **Token Defects**: Small price difference between private placement and opening price leads to selling pressure, with a 60% flash crash in May exposing liquidity crises;
3. **Revenue Dilemma**: 90% of connections are free, with annual revenue of only $2 million, resulting in a severely overvalued 60 times price-to-sales ratio;
4. **Security Vulnerabilities**: Historical phishing attacks have weakened trust.
In the short term, it needs to accelerate the practical utility of the token (such as fee tiering) to support a market value of $190 million, while in the long term, it must break through the “tool attribute” dilemma, or it may fall into the trap of high valuation and low circulation. #WalletConnect
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WalletConnect as the Core Connection Protocol of the Web3 Ecosystem
WalletConnect, as the core connection protocol of the Web3 ecosystem, has performed outstandingly in enhancing user experience and expanding functionality in recent years, but its token economic model, market competition, and security risks still face challenges. The following is a comprehensive analysis from multiple dimensions:
### 🔗 1. Technical Value and Ecological Position
- Core Infrastructure: WalletConnect has achieved secure connections between dApps and wallets through end-to-end encrypted communication protocols, covering over 600 wallets and 61,000 applications, with a cumulative connection of over 275 million times and a penetration rate of over 90%, hailed as the 'TCP/IP protocol of Web3.'
### 🔗 1. Technical Value and Ecological Position
- Core Infrastructure: WalletConnect has achieved secure connections between dApps and wallets through end-to-end encrypted communication protocols, covering over 600 wallets and 61,000 applications, with a cumulative connection of over 275 million times and a penetration rate of over 90%, hailed as the 'TCP/IP protocol of Web3.'
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#WalletConnect WalletConnect's innovations in technological infrastructure and user experience (such as payments and cross-chain support) have built a competitive moat. If it can optimize the fee tiering model in the short term (with a target annual revenue of $30 million) and activate token utility, its valuation may recover to a reasonable range. However, in the long term, it must address three major challenges: **insufficient token economic conversion rate** (90% of connections are free), **competitive protocol squeeze** (such as the closure of the MetaMask ecosystem), and **security and trust crises** (historical flash crashes and phishing risks). If breakthroughs such as "fee revenue accounting for over 30%" are achieved in the next six months, it may complete the leap from a tool to a value gateway; otherwise, it may be trapped in a valuation pitfall of high FDV and low liquidity.
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$MERL is no longer competing with you for the trading competition, the earnings are not even as good as a single empty trade.
MERLUSDT
Short
Closed
PNL (USDT)
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A new address for buying wool, hurry up and buy it. Maybe it will be the next big wool
https://wump.xyz/join?ref=530408525239681034
https://wump.xyz/join?ref=530408525239681034
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Taker Protocol, which raised $3 million in its first round of financing, has launched a lightweight mining on the Taker mainnet + point tasks, allowing you to earn points that can be exchanged for airdrops at TGE. I mainly introduce it because it's very simple, easy for beginners to get started, and it's a guaranteed profit opportunity, plus it's free to participate! 👍
🔗 Mining link: https://earn.taker.xyz?start=FKW9ZRGP
1️⃣ Enter the link above, connect your wallet, and bind your Twitter account to start lightweight node mining;
2️⃣ The Taker mainnet is now live, and the token $Taker is confirmed for issuance and will be used as network gas;
3️⃣ Click the 'Mine' button once every 24 hours for on-chain operations, which will consume a small amount of $Taker (0.001 $Taker is automatically issued upon first login, which is enough, so it's free to participate);
4️⃣ Scroll down the page, as shown in the image below, there are some small tasks like following on Twitter and daily check-ins that can increase your diamond points earnings, it's recommended to do them.
Alright, that's all, isn't it very simple? Go start mining!
🔗 Mining link: https://earn.taker.xyz?start=FKW9ZRGP
1️⃣ Enter the link above, connect your wallet, and bind your Twitter account to start lightweight node mining;
2️⃣ The Taker mainnet is now live, and the token $Taker is confirmed for issuance and will be used as network gas;
3️⃣ Click the 'Mine' button once every 24 hours for on-chain operations, which will consume a small amount of $Taker (0.001 $Taker is automatically issued upon first login, which is enough, so it's free to participate);
4️⃣ Scroll down the page, as shown in the image below, there are some small tasks like following on Twitter and daily check-ins that can increase your diamond points earnings, it's recommended to do them.
Alright, that's all, isn't it very simple? Go start mining!
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Broccoli Perspective
Broccoli virtual currency is a typical phenomenon of 'meme coin' in the cryptocurrency market, directly related to the name of Binance founder Zhao Changpeng's (CZ) pet dog 'Broccoli.' This event highlights the enormous influence of celebrity effects on the crypto market, but also exposes deep-rooted issues such as market speculation, manipulation, and lack of regulation.
1. **Short-term speculation and high-risk attributes**
The explosion of Broccoli Coin originated from CZ's inadvertent action on personal social media, but the market frenzy it triggered led to the emergence of hundreds of tokens with the same name on the BNB and Solana chains, some of which had market values exceeding tens of millions of dollars at one point, only to plummet later due to whale sell-offs and liquidity depletion, causing significant losses for many retail investors. This 'narrative-driven' speculative model relies on market sentiment and lacks fundamental support, posing extremely high risks.
1. **Short-term speculation and high-risk attributes**
The explosion of Broccoli Coin originated from CZ's inadvertent action on personal social media, but the market frenzy it triggered led to the emergence of hundreds of tokens with the same name on the BNB and Solana chains, some of which had market values exceeding tens of millions of dollars at one point, only to plummet later due to whale sell-offs and liquidity depletion, causing significant losses for many retail investors. This 'narrative-driven' speculative model relies on market sentiment and lacks fundamental support, posing extremely high risks.
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