The 100-fold coin track in the current bull market
In each market cycle, there are different mainstream narratives. Therefore, we can only use the patterns presented by the 100x coin projects in the previous cycle as a reference. The current market environment has changed a lot compared to the previous cycle (although some internal logic still exists). Therefore, we can make some predictions based on the current market trends.
1. The rise of Bitcoin ecosystem
In the current bull market, the Bitcoin ecosystem has performed well, and the basic protocol Ordinals has fully opened a new chapter in the Bitcoin ecosystem. The DeFi concept in the last bull market will be revived in this round of Bitcoin ecosystem.
Compared with other public chains, the Bitcoin ecosystem has a broader consensus. As the basic asset of the crypto market, the potential released by Bitcoin will far exceed that of other public chains.
Therefore, the market value of DeFi applications in the Bitcoin ecosystem is likely to be much higher than that of DeFi applications in other public chain ecosystems. We can be more imaginative when evaluating DeFi projects in the Bitcoin ecosystem. At present, in the Bitcoin ecosystem, including DEX, Lending, Oracle, Bitcoin Layer 2 and other fields, many 100x or even 1,000x coin projects have emerged, and inscription tokens like ORDI have achieved more than 10,000x growth. However, in the current Bitcoin ecosystem, the situation is still unclear, and each project has the opportunity to become a leader in its own track.
In these infrastructure segments of Bitcoin DeFi, more projects with ten-fold and hundred-fold coins will emerge in the future. In addition to copying the madness of Ethereum DeFi, Bitcoin may also usher in some sub-segments that are only suitable for the Bitcoin ecosystem. In addition, Bitcoin also faces problems similar to Ethereum, such as slow transaction confirmation and high gas fees. These problems are even more prominent in the Bitcoin ecosystem, which provides development opportunities for Bitcoin's Layer2 solution.
At present, many projects have emerged to promote the development of Bitcoin's Layer2. In the future, some high-quality projects with the potential to increase tenfold or even a hundredfold will also emerge in the Bitcoin Layer2 track. In fact, the future development outline of the Bitcoin ecosystem seems to be becoming clearer. With the influence of factors such as the halving of Bitcoin production and the spot Bitcoin ETF, the Bitcoin ecosystem will become a fertile ground for the most 100-fold coin projects, and we must keep paying attention.
To sum up, in this round of bull market, the Bitcoin ecosystem will be one of the eye-catching narratives, and more high-yield, high-quality projects will surely emerge.
2. Solana Ecosystem: The Rising Hundred-fold Coin Project
In addition to the Bitcoin ecosystem, the Solana ecosystem is very likely to breed some high-quality 100x coin projects. Compared with Ethereum, the Solana ecosystem performs well in terms of gas fees and TPS. This year, the performance of the Solana ecosystem was unexpected. Not only did the TVL grow significantly, but most of the Solana ecosystem DeFi platform tokens experienced explosive growth, and several projects with tenfold potential emerged.
The development of the Solana ecosystem this year has been remarkable, and various projects have shown strong airdrop efforts. This year, the airdrops of multiple projects in the Solana ecosystem have shown considerable magnitude, bringing rich returns to users.
In addition to the DeFi field, the current leaders in the highly anticipated DePIN track basically choose to build on Solana. For example, Helium, Hivemapper, Render and other projects are currently popular DePIN projects, and are also outstanding representatives in the Solana ecosystem. In addition, currently popular meme coin projects such as BONK and Silly are also products of the Solana ecosystem. These projects have not only brought huge attention to the Solana ecosystem, but also attracted more users and funds to flow in.
The number of users and funds in the Solana ecosystem is growing rapidly, so we have every reason to pay attention to and deploy Solana DeFi, meme coins, and other niche tracks. In the current bull market, it is recommended to pay close attention to various innovative applications in the Solana ecosystem.
3. New tracks (DePIN, DeSoc, DeSci, etc.)
In this round of bull market, from the perspective of public chain ecology classification, Bitcoin and Solana ecology will become the main tracks for the birth of the most 100-fold coin projects. In addition, with the continuous improvement of blockchain infrastructure, the application of blockchain technology has gradually expanded to traditional fields, giving rise to some emerging tracks, such as DePIN, DeSoc and DeSci. These new tracks explore the organic combination of traditional fields and blockchain technology, and achieve more efficient operations through resource integration.
In general, the blockchain ecosystem is showing a diversified trend, providing investors with a wider range of choices. When pursuing 100x coin projects, in addition to paying attention to the traditional Bitcoin and Solana ecosystems, it is also worth paying close attention to the development trends of these emerging tracks.
Something is not going well. The selling pressure of 7 billion Bitcoins in Mentougou has come. Is this true or false? What should we do? Let's take a look together.
The biggest concern in the market recently is that Mentougou is selling 7 billion bitcoins to compensate users. This may be more serious than you think. Recently, many netizens said that they received part of the compensation from Mentougou, especially many Japanese netizens posted their payment records on Reddit or Twitter. So many people posted it, it doesn't look fake.
What's even more frightening is that Mentougou's compensation is not in Bitcoin, but in legal currency. In other words, Mentougou will sell all the 7 billion Bitcoins into legal currency to repay everyone, which will put huge pressure on the market. What is the concept of this 7 billion US dollars? The daily spot Bitcoin trading volume of Binance, the world's largest exchange, is currently about 1 billion, so 7 billion is really not a small amount.
In fact, just a month ago, the trustee of Mentougou announced that they would postpone the payment of Mentougou compensation to the end of 2024, which was also reported by many media. But what many media did not write is that this date is the deadline.
Therefore, his actual compensation is actually divided into three times, and the earliest one starts from the end of this year. Although there is no movement in the wallet address of Mentougou, it does not mean that there is no sale, because after all, many big players now use OTC.
They may even sell the entire wallet address directly to a certain institution or big player, but no one can be sure. So no matter whether it is true or not, if someone sells it, it is bad news. Just when this news came out, this Bitcoin whale transferred 30,000 Bitcoins to Binance Exchange for sale.
Oh my god, 30,000, that’s worth 1.3 billion US dollars. You should know that Binance’s Bitcoin trading volume for the whole day is just this number, so the impact is actually not small. In addition, after the ETF is passed next year, it is likely that all the good news will be exhausted, so as early as when Bitcoin reached the second peak of 44,000, we led members to arrange short orders, and we are still making floating profits.
In the past few days, they have collected tens of thousands of U in funding fees for long positions, which is really great. In fact, if Bitcoin can reach the resistance level of 44,000 again due to some news recently, I think I can try shorting it again. I think there is a chance that it will pull back to 38,000 in the next one or two months.
Now that we have finished talking about the overall market, let’s take a look at small currencies.
Solana is really awesome right now, and it’s not just a flash in the pan. Its on-chain data is very scary.
TVL has surged by more than 100% compared to a month ago, and even its daily transaction volume is close to Ethereum, reaching 860 million transactions per day. And as we mentioned in last week's program, its transaction volume on multiple exchanges has also surpassed Ethereum, with rising prices and rising volumes.
Sure enough, after the program was released last week, it continued to rise by more than 30%, which is simply outrageous. Many friends became rich overnight. This shows that Solana is getting out of the shadow of FTX's thunderstorm, and its various ecological projects on the chain are recovering, which is very worthy of our attention. Now I am more optimistic about Orca.
This project is the largest Defi on Solana, with a current market value of only 600 million. Its current market value is not high, ranking 200th, and there is a lot of room for growth compared to several coins in the same track. For example, Cake has a market value of 1.4 billion, and Uni is more than 7 billion, so this coin has room for growth.
But this alone does not meet the standard. What really impressed me is that it has been more than two years since it was launched as the largest Defi project on Solana, and it has not yet been listed on mainstream exchanges such as Binance. I feel that there is a great chance that it may be listed one day. After all, the second largest Defi on Solana, Ray, has been listed on Binance. As the Defi leader on Solana, how can Orca not be listed? Right?
Moreover, it has been listed on Coinbase, which is known for its strictness, so I think it may only be a matter of time before it is listed on other major mainstream platforms. By then, it may directly rise by 50% or even more. Of course, this is a long-term layout, so don’t be too anxious to enter the market at a high position. After all, it has risen a lot with Solana before, and we can wait patiently for it to pull back before making a layout.
In addition, we can also take a look at memecoin.
For example, the new star Silly on the Solana chain that we talked about last week has tripled, and many friends are saying that they have won a lot! And now Solana has another popular dog called Analos.
The name of this coin is exactly the reverse of the English name of Solana, and it is quite popular.
But I must say that although local dogs are good, they also have the risk of returning to zero, so you can only play with a light position. Behind huge opportunities there are also very big risks.
Then the first inscription SOLS on Solana is also quite popular, but I always feel that the inscriptions of other chains are just following the trend. If you want to play, it is more stable to play with Bitcoin inscriptions. At present, I think these are all at high levels. I will consider entering the market after it falls back. After all, only by entering the market at a low price can you get big profits, and the cost-effectiveness of chasing high prices is too low.
However, compared to local dogs, I prefer tokens with practical applications, such as Orca or Cake, the leading Defi chains. The good news about Cake mentioned in the last half of the article also successfully made it continue to soar in the past few days, and it has almost doubled.
He is just like Silly, the secret code to wealth, right? Many viewers were very excited, as if they had really gotten a good deal.
Now Binance is booming, and various Binance-related coins are starting to catch up, such as Bake, which has also risen very well. I remember that in 2021, Binance would launch a new product every month, and each time it would cause Binance-related coins to surge by about 20%, and this continued for several months, so now it may just be a small hit, and everyone can expect a bigger explosion next year or the year after.
Let's wait and see.
And if your baby is interested in the daily operations, you can also come and have a look.
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