Ethereum
Let's start with Ethereum. Recently, 'pessimism about Ethereum' seems to have become the consensus in the market, and the market seems unable to find reasons to prove that Ethereum is better than Solana. Solana outperforms Ethereum on various metrics, and some radical market participants have begun to believe that Solana will have the chance to flip Ethereum. But I believe Ethereum still has a chance, with its core advantages being two points: ETF and RWA.
Image source: PANews
A friend compared ETF inflows to liquidity with a condom—although they are buying Bitcoin, this money is not flowing into the crypto market. Ethereum also has ETFs; if we believe Bitcoin will reach $100,000 in this cycle, then Ethereum will undoubtedly benefit from some overflow of capital inflows. This is beyond doubt. If the $SOL ETF passes, Ethereum will lose this advantage.
Although my previous view was: 'Ethereum will shift from DeFi narrative to RWA narrative', a core issue is that even if the RWA track has sufficient funding, it is not a very attractive track for the market. Even if the RWA track expands, it will not bring significant market attention to Ethereum. Attention = Money.
I believe 2025 could be a year of widespread adoption. AI Agents will be key to the large-scale adoption of crypto, and their widespread adoption will occur on Basechain, with Ethereum benefiting from it (market attention). Next, I will discuss this matter from two aspects.
1. Why AI Agent?
First, let's clarify one thing: the future development potential of AI Agents is limitless. Perhaps by the year 2300, the future world may be dominated by a massive and unified AI in our lives (assuming future computing power can meet the demand). But in this era, AI Agents will be a better application scenario for AI technology. Imagine that after being trained on data from various professional fields, each AI Agent could become an expert in its corresponding industry, executing tasks in specific scenarios to meet our needs.
Secondly, in my view, the main intersection of Crypto x AI in the current AI cycle (similar to the previous internet cycle) is 'what Crypto can do for training AI', such as computing power and data. The explosion of AI Agent memes will make the market realize that AI technology can also empower Crypto. The wallets, DeFi, NFTs, and other infrastructures previously launched by the crypto industry will become the breeding ground for the development of AI Agents.
So, why is the Crypto infrastructure so important for the large-scale emergence of AI Agents?
- Interaction of code
The essence of Crypto's smart contracts is automated execution, and AI Agents can easily achieve behaviors like payments, quantitative trading, market prediction, liquidity mining, and asset issuance through the interaction of these codes. What about AI in the traditional world? It's difficult to achieve.
Imagine, will banks customize accounts for AI Agents? Will the financial industry provide services for AI Agents? Currently, it is very difficult to accomplish these tasks, whereas the decentralized Crypto world has no barriers, no KYC, and AI Agents can easily create their accounts through Coinbase Wallet (or other infrastructures) and perform more complex and diverse behaviors (especially economic behaviors) under the premise of achieving human-set goals.
For example, $LUNA is rewarding Twitter Followers who complete tasks through tipping, and the Aether AI Agent launched by the $HIGHER community has already accumulated $150,000 in its vault through donations and NFT minting.
- Composability and Monitoring of AI Agents
These two points benefit mainly from the composability and transparency of blockchain technology. Using blockchain technology, AI Agents can collaborate like DeFi Legos to achieve more complex task objectives. At the same time, various behaviors of AI Agents will leave imprints on the chain for better human monitoring of AI behavior.
I personally believe that the initial tasks of AI Agents may focus on on-chain scenarios like meme coin trading, DeFi Farming, and DeFi arbitrage trading. Subsequently, AI Agents will be expanded into the Web2 world to accomplish broader tasks from the traditional world.
2. Why Basechain?
The logic here is that I am more optimistic about Base becoming the main scenario for AI Agent applications. In my view, Base has a first-mover advantage—Coinbase has launched the Based Agent toolkit, allowing users to create an AI robot with a wallet in just a few minutes using this toolkit. In addition to the push from Coinbase, more AI Agent infrastructures have already been or will be deployed in the Base or Ethereum ecosystem, such as Wayfinder (which can be mined through $PRIME) and Spectral.
As for my holdings, I currently mainly hold three tokens: $LUNA, $GOAT, $HIGHER.
$GOAT is the first AI Agent meme to be massively speculated, related to culture, attracting significant market attention for a long time. If there are no issues with the broader market, I expect its price to rise again in the near future.
$LUNA is an AI Agent (virtual idol) on Base, characterized by its ownership of a crypto wallet, which will be used according to the goals set by humans. I think it might be the only meme that can wrestle with $GOAT (at least for now).
Aether was created by Martin for the High community ($HIGHER), deployed on Farcaster, and has control over a crypto vault. It has raised $150,000 for the vault through donations and NFT minting. It might be the first AI millionaire? Compared to the previous two, it has the native quality of crypto and is deployed on Farcaster, a social platform with fewer restrictions than Twitter.
At the same time, I am also looking forward to the emergence of more interesting AI Agents. I believe the AI Agent track may see a speculative path from memes to infrastructure. In the future, I will focus 80% of my energy on the AI Agent track and will bring more related content.
Election
There's really not much to say about the election; whoever wins Pennsylvania wins the country. Many people can analyze the election trends professionally, so I won't make a fool of myself here. After the election results come out, it's highly likely there will be a sell the news wave, followed by continued growth.
The election of the Republican Party is favorable for Bitcoin, Dogecoin, and $AAVE.
The election of the Democratic Party is favorable for $XRP, which also has an ETF narrative.
However, I believe that regardless of who comes to power, the regulatory environment for crypto will become more lenient, and I am optimistic about the crypto market in 2025.
Alpha
Hyperliquid will have its TGE after the election. If Hyperliquid announces its TGE, $PURR will likely see a wave of early speculation. I am optimistic about the liquidity aggregation model of Hyperliquid, so I am also optimistic about Hyperliquid's official mascot $PURR.
Moreover, you can clearly see that projects like Jupiter and Hyperliquid have fully understood the current market operating model—launching memes before TGE for market speculation to attract market attention.The Avalanche Foundation may have already bought back 1.97 million $AVAX from LFG OTC. One risk has been eliminated, which is definitely good for Avalanche's long-term development. However, it should be noted that after 'buying' back these $AVAX, the foundation will split them and store them in multiple wallets (each wallet holds about $2.5M worth of $AVAX).
Image source: PANews
I've mentioned MakerDAO's rebranding many times before, so I won't elaborate here. I think MakerDAO completely messed this up. Nov 4 $SKY - Start Re-rebranding ($MKR) Governance Voting
I've also mentioned my outlook on Maple, changing currencies.
Nov 13 $MPL - SYRUP Token Launch
November Event Calendar:
Image source: PANews
[Disclaimer] The market has risks, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article match their specific circumstances. Invest at your own risk.
This article is reprinted with permission from: (PANews)
Original author: Crazy Sleep in the Rain
