1. Real yield market, optimistic about the potential of this track.
I estimate that the 'real yield market' mentioned by this reader refers to the yields generated by the on-chain assets after tokenizing RWA assets?
If that's the case, I have previously shared my views on this topic: the yields of assets in this track are essentially the yields of various financial assets in real life. The difference is that these yields are distributed in the form of on-chain tokens (like stablecoins).
In reality, the yields of financial assets typically reaching an annualized rate of 10% is considered quite good; if better, it is about 15% to 20% annualized returns in the stock market.
However, this yield is probably not appealing to most users in the crypto ecosystem at this stage.
Regarding the future development of this track, my view is that for it to succeed, it must have regulatory support, and only those traditional large institutions and big capitals can navigate this.
In the process of bringing RWA assets on-chain, those large institutions and big capitals can earn substantial intermediary fees and transaction fees, so they have strong motivation to promote the development of this track.
The development of this track has been very rapid recently; for example, Fidelity has already issued tokenized U.S. Treasury bonds on several Ethereum layer-2 expansions.
However, I am curious about what kind of people would buy these tokenized government bonds.
Are big institutions and big capitals buying it?
They generally have their offline channels that are more direct; why would they go around to buy on-chain?
Are retail investors and speculators trading to make price differences?
Making this price difference isn’t as good as playing with MEME coins.
Are you buying it for long-term investment?
It would be better to directly put stablecoins into AAVE or similar lending apps; even if the yield is a bit lower, it won't differ too much.
In short, if it’s just for fun or novelty, I can understand buying a bit of these on-chain government bonds, but I don't see the appeal of making large investments specifically to buy these on-chain government bonds.
When I assess whether a track has potential, I pay special attention to my own interests; I will see if I can participate in this track. If I can participate, what benefits can it bring me? Does this benefit have an advantage over the yields of other assets?
From these perspectives, the asset yields of the RWA track do not attract me much at this stage; I will pay a little attention to it but won't spend too much effort on it.
2. Buffett is out of the question, but if Duan Yongping changes his view and enters the crypto market, it would have quite an impact.
Buffett and Duan Yongping often mention in their speeches that they don't understand many industries and many assets.
Duan Yongping has also said that it took him several years to understand XXX, or that it took him several years and he still doesn't understand XXX.
For investors of this level, when they say they 'don't understand,' it's generally impossible for an average outsider to change their views; don't expect just anyone to change their opinions with a few words.
Only they themselves can change their views.
Another senior, Dan Bin, has been focusing on Bitcoin and has invested in it.
Actually, I don't care too much about how they see it; I believe my understanding of this field is deeper than theirs.
For senior investors of this level, I think focusing on their alternative views on crypto assets is not very meaningful; what is more meaningful is to learn investment wisdom and thinking from them.
They have reached top levels among their peers in their fields; can we achieve top levels in the fields we are deeply engaged in?
3. Will there still be a season for altcoins in the future? Does Ethereum's layer-2 still have potential?
Yesterday's market seemed to be a small 'rehearsal'.
During the process of Ethereum rising to $2800, mainstream DeFi tokens surged significantly.
The market interprets this as: after Trump comes to power, there may be a relaxation of regulations on the crypto industry, and in the crypto ecosystem, DeFi is undoubtedly the most scrutinized sub-sector.
So the market interprets this as: after relaxing regulations, DeFi will have new developments, attract new users, and expand new markets, hence the tokens received positive stimulation.
However, it should be noted that those that have risen, especially those with large increases, are all tokens from well-known DeFi projects.
So by analogy, even if there is a season for altcoins in the future, only the tokens of well-known blue-chip projects will have that season, and not just any token will rise.
I estimate that Ethereum's layer-2 will have similar effects, but the premise is that there must be a strong application ecosystem for their prices to rise.
Once a certain layer-2 application ecosystem develops, and its token is stimulated by positive factors, this effect will also transmit to other layer-2 expansions.
This Saturday, November 9, at 8 PM, we will hold an online exchange in the Twitter space.
If anyone has questions, you can reply to this post: https://x.com/DaosViews/status/1852148588790583613
