ETH、SOL、DOT、TIA、SUI、ADA、AVAX、ATOM、TRX、MATIC、NEAR.......
These projects that have skyrocketed and conquered the market, or have become popular, all have a common label: public chain.
All old leeks should have this feeling: every once in a while, one or even several public chain projects will explode, with a 10-fold or even 100-fold surge, attracting the attention of the entire market.
Regardless of whether the market hot spot is DeFi, NFT, AI, GameFi, BRC20 Inscription, Metaverse, or MEME, there is no way to stop public chain projects from becoming popular. It can be said that hot spots are flowing and public chains are iron-clad.
Judging from the most intuitive indicator, "market value", among the top 10 projects currently ranked in global market value, from a narrow perspective, that is, excluding platform coins, stable coins, single payment scenarios, etc., 5 are public chains, accounting for half of the country; Among the top 30 blockchain projects, 15 are public chains, still accounting for half of the total. From a broad perspective, Bitcoin is actually a public chain.
Today, with the help of projects recommended by some currency friends, we will hold a special "Public Chain Special Session".
Note: The following data comes from third-party platforms such as CoinMarketCap, feixiaohao, defillama, and Binance. The deadline is: March 3, 2024;
ETH
Basic information about tokens
Market value: 413.1 billion US dollars, market value ranking: 2, current total circulation: 120,142,084 ETH, maximum supply: unlimited, investment return: +11159.00 times, TVL: 52.3 billion US dollars;
personal analysis
As the king of public chains, there is actually nothing to analyze, except for three things:
1. Who is better at playing ETH?
I think it is best if you are an A8 or A9 user, or a large A7 user. Otherwise, with your capital, there is no need to play. The pursuit of stable income is a matter for large investors and institutions. As a small retail investor, don’t say you just come to the currency circle to earn money to buy cakes.
2. In the fourth round of halving market, where is the top spot?
18,000-22,000 US dollars, Brother Gen is so direct and never vague. The main basis is that the market value of ETH at this price is about 2 trillion US dollars. No matter how high it is, I will be a little panicked.
Of course, if the Fed releases money again like it did during the epidemic, the upper limit will definitely be higher. After all, the crypto market is actually a product of sufficient liquidity; but it is obviously impossible for the Fed to be so aggressive again, and the interest rate hike has not yet been harvested or recovered. The released US dollars will continue to play like this, unless some Wall Street consortium only intends to die after having fun.
3. Will this bull market surpass the market value of BTC?
It’s more difficult, I believe it might be in the next round.
This round of BTC has been brought up by the BRC20 concept of the Bitcoin ecosystem, and because of the disappearance of Satoshi Nakamoto, Bitcoin no longer has shortcomings and loopholes. Those old money who have to allocate huge amounts of funds believe in BTC more. After all, BTC The core problem to be solved is to make "property truly belong to the people."
And because of the existence of V God, ETH can only follow the path of returning to old money, and the adoption of POS mechanism will also speed up this process. The young man who slays dragons eventually becomes an evil dragon.
SUN
Basic information about tokens
Market value: 52.4 billion US dollars, market value ranking: 5, current total circulation: 410,905,188 SOL, maximum supply: 557,228,276 SOL, investment return: +579 times, TVL: 2.4 billion US dollars, issuance time: 2020-03-23;
personal analysis
SOL is currently a popular public chain project. After emerging from the shadow of the FTX thunderstorm, it has risen from 20 to the current 133U, an increase of more than 6 times. It is already very impressive for this size, but it is now the third largest market value. For currencies above five, it is a bit difficult to rise further, so it is not recommended to chase the rise, but to reduce positions. We can only wait for the fourth round of halving to really start and a huge amount of new funds come in.
Solana's main focus is a high-performance public chain. According to the impossible triangle theory: decentralization, security and scalability (efficiency), it is difficult to take into account all three. If it focuses on high-performance public chains, SOL will sacrifice part of its security and decentralization. .
To be honest, as someone who comes from public chain projects, I have always been biased against so-called high-performance public chains: because the most important feature of the blockchain itself is decentralization, which requires each node to participate in verification and storage of data, and does not Power is concentrated in the hands of certain individuals to ensure the security of the system and ownership of property, but this limits the processing capacity and speed of the system. Of course, this kind of blockchain fundamentalism is no longer mainstream. After all, it is too idealistic and unrealistic.
I'm wrong. In fact, in the bull market, these high-performance public chains are the most likely to explode. Just like EOS and LUNA before, they all focused on high performance and high tps. Because the transaction volume in the bull market increased geometrically, ETH was blocked like a dog. The appearance and high gas are really unbearable.
Therefore, SOL will definitely make great achievements in the next bull market. It is only a matter of time before it exceeds the historical high of 260U. Where is the upper limit? I don’t know, I can only make a divination, and the divination shows: 800 pacesetters rushing to the north slope. Just kidding, Quan is having fun.
DOT
Basic information about tokens
Market value: US$11.2 billion, market value ranking: 14, current total circulation: 1,223,246,209 DOT, maximum supply: unlimited, investment return: +31 times, issuance time: 2019-05-05
personal analysis
The leading concept of cross-chain public chains is actually an idea: public chains are real infrastructure, just like roads. They need national roads, provincial roads, city roads, and even county roads and rural roads to determine their positioning. And this is what the market demands, so it can become a good project with skyrocketing growth.
The current market does need cross-chain. This is a rigid need, especially in the bull market, to "connect private chains, alliance chains, public chains, open networks and oracles, as well as future technologies that have not yet been created."
Therefore, DOT is a good project, and the team behind it is also a bonus. Although it has performed very well during this round of rise, you don't know when it will explode. The peak of the last bull market was 55. In the fourth round of the market that started after the Bitcoin halving, it must be at least over 55. In other words, no matter where you buy in the last bull market, you can unwind in this bull market. This is What I once said: As long as you don’t sell it, Dog Village can’t cut you off. PS: The premise is that this project is reliable.
LOVE
Basic information about tokens
Market value: US$2.6 billion, market value ranking: 45, current total circulation: 157,701,062 TIA, current supply 1,016,657,534 TIA, investment return: +4.8 times; issuance time: 2023-11-01
personal analysis
Celestia is a modular public chain token. I remember that the concept of modularity was hyped for a while in early 2022. Now a popular project has emerged. The top five CEXs have this coin. This is also a symbol of strength.
Just like DOT mentioned above, it is a good project if it has determined its positioning and this is what the market demands. Now the encryption market really needs such a point-and-shoot public chain that is easy to use, develop and expand. The current market value ranking is 45, and popular new coins in this ranking range are also prone to explosive sales.
But currently I have two worries:
1. Early project financing is a bit too much. The information I found shows that there are three rounds of financing: seed round, round A and round B, and there are industry leaders such as Coinbase Ventures and Binance Labs. On the one hand, this shows the high quality of this project, but on the other hand, these are all potential In terms of monetization needs, the most problematic project on this issue is ICP, one of the four major disasters. Learning from the past, we have to be cautious.
2. It has risen a bit too much. It has increased 10 times since the opening of the market, and there are a lot of gains. As all currency friends know, as an old leek who has been severely beaten by the currency circle, I am naturally afraid of this kind of currency after a sudden rise.
So at present, it is not easy to chase the rise. For those who don’t have it, please pay attention and wait for the subsequent correction before buying. Personally, I am very optimistic about it. It has become the most popular public chain in this round of halving market.
SUI
Basic information about tokens
Market value: US$1.8 billion, market value ranking: 56, current total circulation: 1,100,947,215 SUI, maximum supply: 10,000,000,000 SUI, investment return: +15 times; issuance time: 2023-05-03
personal analysis
Sui and another public chain Aptos come from the same school, and the founding team comes from Diem of Facebook. They are all based on the Diem programming language Move to explore and launch new public chains. It can be said that the background, technology, capital, etc. are all highly similar, but APT was issued in October 2022, more than half a year earlier; therefore, we can also look at the trend of SUI from the trend of APT after its launch, and the K-line patterns of the two are indeed the same. It's very similar. It's the high point when it goes up, and it starts to rise after two or three months of pullback.
Judging from the financing situation, after multiple financings in the second half of 2022, it will be valued at US$2 billion, which is similar to the current market value. From this point of view, the current SUI is just starting out.
From the perspective of the token model, the SUI Foundation accounts for 50% of the total number of tokens in the name of community reserves, and the rest is distributed to early contributors, investors, etc., and will become a strong currency.
Judging from the launch of CEX, the top five exchanges have already been launched. It can be said that high-quality public chain projects are basically standard. This also shows the importance of the public chain track.
As a public chain, SUI pays more attention to games and decentralized social media networks. This is not only the area of expertise of the project team, but also one of the first to be implemented in this round of market. GameFi and SocialFi have always been popular. So overall, this project is very good and worthy of long-term deployment.
THERE IS
Basic information about tokens
Market value: US$25.5 billion, market value ranking: 8, current total circulation: 35,347,151,736 ADA, maximum supply: 45,000,000,000 ADA, investment return: +277 times; issuance time: 2017-10-02
personal analysis
As an established public chain, Cardano has more than 60% of ADA pledged, which is the highest among all public chains and three times that of ETH. This shows the loyalty of the community to it. Of course, the hardware requirements for Cardano verifiers are the lowest among the major public chains. of. This makes Cardano one of the blockchains that least relies on hosted server solutions. However, the development progress is always slow, there is a lack of stable coins, and the ecology is not very prosperous, but it once reached the third place in market value, second only to BTC and ETH.
This is a public chain with obvious advantages and disadvantages, and it currently does not have much performance in this round of rise. There are more and more new high-quality public chains in the future, and competition pressure is also increasing.
AVAX
Basic information about tokens
Market value: US$15.5 billion, market value ranking: 10, current total circulation: 365,458,876 AVAX, maximum supply: 720,000,000 AVAX, investment return: +84 times; issuance time: 2020-07-14
personal analysis
Avalanche, another high-performance public chain, is a direct competitor to SOL. However, in this round of growth, its performance is far inferior to SOL, and its current price is in a chip-intensive area.
The biggest feature is the parallelism of three chains: the transaction chain, which is responsible for the transaction and issuance of virtual currency, etc.; the platform chain, which is responsible for platform operation matters, including node verification, governance, creation of subnets, etc.; and the contract chain, which is responsible for the creation and interaction of smart contracts, etc. . The intention is to solve the impossible triangle, but for now it still sacrifices a certain amount of security.
But as a public chain project that has been praised by Buterin, although it has not yet undergone enough market testing, it has ideas, a good team, and a good community, and it is worth having.
ATOM
Basic information about tokens
Market value: US$4.3 billion, market value ranking: 27, current total circulation: 364,201,868 ATOM, maximum supply: unlimited, investment return: 117 times; issuance time: 2019-03-15
personal analysis
Cosmos, as an ambitious project, is one of the best among public chains in terms of technology. It is similar to DOT in that it focuses on cross-chain, but it is different. But it has always felt like it hasn’t exploded much, and its performance has been poor during this round of rise. I feel that the value model of the token is not designed well, or the team’s marketing is poor. Although it is powerful, it feels like a teapot cooking dumplings.
At present, I think it is an underestimated one among high-quality public chain projects. If the value model can be solved and operations are done well, it is most basic to increase by 10 times in this round of halving.
TRX
Basic information about tokens
Market value: US$12.6 billion, market value ranking: 11, current total circulation: 89,222,486,143 TRX, current supply: 89,222,563,253 TRX, investment return: +93 times; issuance time: 2017-07-01
personal analysis
In the domestic public chain craze in 2018, the only project that is still alive and doing well can be said to have been screened by the waves. From this point of view, it is still very impressive.
Although the name "Sun Gao" is well known, this also shows what makes Sun Gao so awesome: he knows how to market and can tap into all the hot spots. Now the amount of USDT in TRC20 has exceeded that of ERC20, and the activity of projects on TRX is second to none (although there are many gambling projects).
I have a friend who bought this in 2018 and made 100 times the profit. After becoming wealthy, he started to focus on TRX to cook hot pot. This also illustrates a truth: in the currency circle, when you find a potential currency, the sooner you get involved, the better. Even if you are Tuo Xiang, you will be able to enjoy the benefits if you participate early. On the contrary, no matter how bragging you are about value investment, if you join late, you will be hollowed out and abandoned.
MATIC
Basic information about tokens
Market value: US$10.1 billion, market value ranking: 15, current total circulation: 9,319,469,069 MATIC, maximum supply: 10,000,000,000 MATIC, investment return: +416 times; issuance time: 2019-04-30
personal analysis
Polygon public chain, MATIC, has made many people rich. Its biggest feature is Layer 2, which was born out of ETH. It is naturally compatible with Ethereum and supports the multi-chain Ethereum ecosystem. This round of rise should be the worst-performing mainstream public chain project, which has only doubled from the bottom. However, the upgrade of ETH in Cancun on March 13 may be a good thing for a surge. When the big bulls come later, ETH is stuck in a doggy situation and expensive people are panicking, it is also a good opportunity for an explosion.
NEAR
Basic information about tokens
Market value: US$4.3 billion, market value ranking: 28, current total circulation: 1,004,666,471 NEAR, maximum supply: 1,168,565,949 NEAR, investment return: +113 times; issuance time: 2020-10-14
personal analysis
Another public chain that focuses on high performance, it mainly uses sharding technology to achieve a high degree of scalability. The essence of a high-performance public chain is actually to take advantage of the gambling and price of ETH. At present, Layer 2 is not fully mature, and there is a lot of room for development.
It has recently started to rise sharply and has completely left the bottom space. However, like most currencies that appeared in the last bull market, it rises step by step to pressure levels. The next pressure level will be 7.4, and then 11.6.
Summarize
The public chain is a track with a large market capacity and can accommodate many high-quality projects at the same time.
The industry is still in its early stages, and public chain projects will undoubtedly become the protagonist. Their development speed and maturity will largely determine the development speed and maturity of the entire industry.
In the future, with the development of the blockchain industry, the market's demand for public chain infrastructure will become increasingly diversified, just as economic development requires not only highways and high-speed rails, but also air and sea transportation. Diversified development will give various public chains enough room for survival. Fundamentally speaking, the competition among public chains still depends on who can provide better performance, higher security, lower cost and greater community support, so that the chain can carry a larger amount of assets.
In the current market, no type of public chain has an absolute advantage, or is absolutely correct. As long as the public chain is born at the right time, or its technical characteristics can be better combined with the target audience, it is a good public chain. chain, resulting in an explosion of value.
The word count reached 4,000, which is far more than I planned, so I will write a separate article later on how to judge whether a public chain is valuable.
To view the first article, please click the link:
