Não é dito que no mercado em alta, “especular sobre o novo, não sobre o velho”? O que é XLM? O que é o HBAR? Nunca ouvi falar dessas moedas, então por que elas estão sendo oferecidas sem motivo aparente?
O que as tias coreanas estão comprando?
Quem está comprando essas “moedas zumbis”? Resumindo: “compra institucional” liderada pelos Estados Unidos e “compra a retalho” liderada pelo Japão e pela Coreia do Sul. Escusado será dizer que sobre as compras institucionais nos Estados Unidos, vamos dar uma olhada nos dados da nossa vizinha Coreia do Sul.
De acordo com a mídia coreana naver.news, nas plataformas de negociação de criptografia mais ativas da Coreia do Sul, Upbit e Bithumb, as contas de usuários com mais de 60 anos aumentaram 30,4% em comparação com o mercado altista anterior, atingindo 770.000 contas. E todos conhecem a situação da distribuição social na Coreia do Sul. Os idosos detêm um total de 6,760 trilhões de won em ativos criptográficos, e o valor do investimento per capita é de cerca de 8,72 milhões de won. Entretanto, o número de depósitos em bancos coreanos também atingiu um novo mínimo, caindo 26,95 biliões de won em relação ao final de Junho. Pode-se dizer que os coreanos tiraram dinheiro do banco e o usaram para comprar moedas.
Here is the trading volume list from Upbit, where you will find that BTC can only be considered 'younger brother' in this ranking. The trading volume of XRP is more than 10 times that of BTC, and projects like XLM (Stellar) and HBAR (Hedera), which are rarely seen in the Chinese-speaking world, are also quite famous on the list.
XRP
One of Ripple's famous products is RippleNet, a global payment network that connects banks and payment providers to facilitate secure, almost instant cross-border transactions. Ripple's technology includes its Interledger Protocol (ILP), which aims to reduce settlement times and significantly lower transaction costs, thereby enhancing transparency and liquidity management for financial institutions. Additionally, Ripple plans to issue stablecoins in the future, which could be a significant positive factor.
Upbit 24-hour trading volume: $5.557 billion
Binance 24-hour trading volume: $5.627 billion
HBAR (Hedera Hashgraph)
Hedera Hashgraph utilizes a novel algorithm called hashgraph consensus to achieve high levels of scalability, security, and fairness. The platform is designed to create and deploy decentralized applications (dApps) and services across various industries, from finance and supply chain management to gaming and social networks. Unlike traditional blockchains, Hedera Hashgraph employs a directed acyclic graph (DAG) structure to achieve fast and efficient consensus among network participants, enabling rapid transaction speeds and minimal energy consumption.
Upbit 24-hour trading volume: $1.224 billion
Binance 24-hour trading volume: $1.297 billion
XLM (Stellar)
The core of the Stellar network is the Lumens (XLM) cryptocurrency, which acts as a bridge asset for seamless value exchange between different currencies, facilitating cross-border transactions. Lumens also play a crucial role in preventing spam attacks and ensuring the security and reliability of the Stellar network. In addition to payment capabilities, Stellartron strongly supports micropayments and enables the issuance of digital assets through its decentralized trading functionality.
Upbit 24-hour trading volume: $1.264 billion
Binance 24-hour trading volume: $736 million
ENS
ENS stands for Ethereum Name Service, which provides domain name services similar to how we access information on the internet today through domain names, specifically for Ethereum. Built on Ethereum, ENS allows users to purchase secure, private, and censorship-resistant .eth domain names, which can be linked to crypto wallet addresses or other information stored on Web3 infrastructure. The ENS token had previously often seen price surges due to endorsements from V God, and Korean retail investors also share a fondness for ENS that aligns with V God’s 'aesthetics'.
Upbit 24-hour trading volume: $841 million
Binance 24-hour trading volume: $166 million
SAND
Sandbox is a metaverse gaming platform on Ethereum, where users can create and share crypto assets and games through Sand. The Sandbox has actually been in the 'cold palace' of the market for a long time, but Sand has become a favorite among Korean aunties, with daily gains often exceeding 60% and 24-hour trading volume being double that of Binance.
Upbit 24-hour trading volume: $582 million
Binance 24-hour trading volume: $267 million
Retail investors' battle against Wall Street behind the logic of the launch of Bull Market 2.0
But it's not just antique coins; there are many compliant coins (including XRP, HBAR, XLM mentioned above). These coins have many commonalities: retail investors generally do not pay attention, they were in a downward trend or sideways before November 5, and they skyrocketed without giving an opportunity to get in. So why these coins?
To understand these, we need to sort out the underlying logic of this bull market.
This bull market mainly follows the US, and Web3 information in Chinese actually exists in an 'information cocoon'. Many people do not know what is happening in the US, Japan, and South Korea (which follows the US market).
The initiation of this bull market is fundamentally different from the logic of the first half of this year. The first half was a bull market driven by favorable ETF news, with the market following hot topics like meme and AI, hence 'hot coins' > others; the second half is a compliance bull driven by the understanding of regulations, so the speculation is all compliant assets, 'compliant coins' > 'hot coins' > others. The tokens that surged this time mainly meet the compliance standards of ISO 20022.
ISO 20022 is a standard for electronic data exchange between financial institutions, covering the financial information transmitted between them. ISO 20022 is more advanced than the traditional formats used by banks because it supports larger volumes of data and faster processing rates. Therefore, it is very suitable for fast payments.
Tokens that comply with ISO 20022 will be prioritized for international payments.
IOTA
IOTA tokens are the native digital currency of the IOTA network, used to facilitate transactions and data transfers within the Tangle. Its fee-free nature eliminates barriers to small transactions, making it very suitable for microtransactions in IoT scenarios. IOTA's focus on scalability, security, and seamless transactions aligns with its vision of becoming a foundational technology for the rapidly developing IoT industry.
Upbit 24-hour trading volume: $321 million
Binance 24-hour trading volume: $181 million
ALGO
Algorand focuses on scalability, low transaction fees, and fast confirmation times, making it suitable for various applications, including financial services, decentralized finance (DeFi), and asset tokenization. One of Algorand's key innovations is its proprietary consensus mechanism, Pure Proof of Stake (PPoS), which enables fast transaction confirmation times while maintaining a high degree of decentralization.
Upbit 24-hour trading volume: $388 million
Binance 24-hour trading volume: $317 million
ADA
Cardano (ADA) is a blockchain platform designed to provide a secure and scalable infrastructure for developing decentralized applications (dApps) and smart contracts. Cardano is developed through a rigorous research-driven approach, focusing on scalability, sustainability, and interoperability to address the limitations of existing blockchain technologies.
Upbit 24-hour trading volume: $534 million
Binance 24-hour trading volume: $1.122 billion
When will the bull market end?
However, when these coins skyrocket 5 times, when will it end? Perhaps the answer lies behind the Korean aunties. According to Upbit's daily trading volume data for altcoins, the recent trading volume has reached the peak of the mini bull market in March. The daily trading volume of Upbit altcoins can be seen as a signal indicator for bull market FOMO.
A bull market is a great retreat, often signaling a peak when Korean aunties start FOMOing.
