On January 9, Alvin, co-founder of Daily Coin Research, was a guest on Binance Live and brought everyone a trading analysis of "What tracks are worth paying attention to in 2023". Among them, three friends posted their wonderful sharing in the Binance Chinese Community Miaobishenghua Channel. The editor selected some wonderful viewpoints to share with everyone. The content of this article is contributed by users and is not intended as investment advice. Everyone is welcome to communicate together.
#XDORZ
This AMA highlights:
1. The market has rebounded recently. How do you view the market?
1. The previous FTX and recent DCG panic events caused investors to lose confidence in the market, but there are signs of recovery recently, which may benefit from the rise of some meme coins, and also caused SOLANA to change 180 degrees from its original bearish sentiment!
2. The NFT and DEFI tracks also showed signs of recovery, with both transaction volume and floor price increasing.
3. There are some good news about GALA and APE, such as the GALA chain (GALA is used as fuel) and future integration with life applications (movies, music), etc.
4. You can also look forward to the update of OP chain in January.
5. ZK's technical potential is also very large. Although it will not be implemented so soon, it is a track that can be laid out in advance!
6.OPâs early airdrop opportunity ends on 1/23, so remember to participate if youâre interested.
7. Ethereumâs Shanghai upgrade (March), the beacon chain allows the originally pledged Ether to be withdrawn.
8. Many protocols on Ethereum have performed well and have good liquidity, so LDO has increased a lot!
9. In addition to Ethereum itself, L2 is also a focus of attention, and ZK-related tracks can also be paid attention to.
10. Another potential hotspot is SOCIALFI, such as the social protocol on POLYGON, which has some applications. You can learn more about it through activities!
11. The market may not necessarily turn bullish this year, but the bottom may not be far away. You can participate in some opportunities through short-selling or fixed investments.
2.What projects are worth paying attention to in 2023?
1. Because of the high transparency on the chain, some privacy issues can be balanced through the protocol. Some projects are led by large institutions such as A16Z, and the prospects are very promising.
2. Investments in ZK-related projects, TON NETWORK (originally developed by the TELEGRAM team, now managed by the TON Foundation), decentralized domain names and accelerators.
3. TG's payment application has great potential, benefiting from TG's large number of users. Unlike other public chains and applications, it can be realized through a wider customer base.
3. How to get airdrops?
1. Unlike before when the number of airdrops available was relatively small, now there are 5 to 10 airdrops available every 2 to 3 days, so filtering becomes very important!
2. Accumulate points in the community in the early stage, but you are not sure whether there will be airdrop rewards. You can give it a try or communicate and learn in the community.
3. The airdrop can be divided into a main account and several sub-wallets. For example, you can use a small account to test the testnet airdrop first. Donât use the wallet that is mainly used for transactions!
4. Donât be afraid of the trouble of taking advantage of airdrops, there are opportunities if you do it! For example, last yearâs OP airdrop gave you the chance to get a share of tens of thousands of dollars, which is an opportunity in a bear market!
5. Information sources can be obtained from Twitter and TG.
4.What are your experiences in the bear market?
1. The FTX incident has a huge impact, and we must develop the ability to read the media and the ability to think independently to judge the information provided by the media. A lot of preliminary research homework must be done in advance to prevent unfortunate events from happening.
2. Asset allocation must be done well. There should be a portion of fiat currency and stablecoin. Whether it is on the chain or in a cold wallet, it must be well managed. Donât put all your eggs in one basket!
3. The FTX incident has caused many exchanges to begin to pay attention to customer asset issues and improve transparency and security, which is good for the entire industry in the long run.
4. The past financial tsunami and the ICO events in the cryptocurrency circle in 2019 can allow the industry to reform and move forward on the right path!
5. How to allocate assets in 2023? What is the market direction?
1. In the second half of 2023, there may be a soft landing of the economy, a relatively mild economic recession, which will give everyone enough time to adapt.
2. You can pay attention to some countries in Central and South America or Africa and start to adopt the application of cryptocurrency. There may be opportunities to derive some products or projects.
6. My thoughts
There are still many potential projects under development in 2023. There is no need to be overly pessimistic. Working silently in the bear market and studying hard will definitely pay off! The FTX incident in 2022 taught everyone a lesson, but it was also because of this incident that many people inside and outside the circle faced the importance of the problem! In the early days of blockchain, discovering the crux of the problem early and correcting it can promote the accelerated development of the industry. From another perspective, it is not a bad thing. Let us work together for the future of blockchain!
#Spot Trader
Thank you for the live broadcast sharing by the guests, which is full of useful information. It is so exciting to be able to listen to such a wonderful live broadcast in the deep bear market. We, the newbies in the cryptocurrency circle, have gained a lot and improved our understanding of the industry. Due to the short length of the live broadcast, I decided to change the way of writing. If it is offensive, please forgive me.
Combining Brother Alvinâs answers, I have the following general thoughts: Paying attention to the track essentially requires us to build a good foundation, on which we can derive many applications. From this perspective, Web3 is still in a very basic stage. For example, computing represented by Ethereum, and applications represented by the Metaverse and NFT, may require the cooperation of many links to solve basic user experience problems. The layout of all these tracks may see a better ending in the next cycle, and time will prove everything.
I personally am more optimistic about the DEFI track, perhaps because I am an old user. Since the summer of DEFI in 2020, there are countless ways to play. For example, (1) arbitrage. For some reason, there will be a relatively large price difference between the chain and the exchange. For example, the hacker of FTX operated on Cake last time, which caused the price of BNB on the chain to rise to 320, while BNB on Binance Exchange was only 270 at that time. The huge price difference is still risk-free profit. Here is the application of DEX knowledge. (2) Mining. First of all, you need to audit the project code. For this purpose, learn Solidity language for a month. In this way, when you rush to many first mining projects, often before the official audit of the project comes out, you can basically judge the security of the project, and you can rush in earlier and more confidently to get the income of the first mining. The second is the charm of compound interest. Use the profit to continuously increase the position. Of course, the safest way is to mine-withdraw-sell. It is best to choose the first mining, because the profit you get is the principal of the miners behind. (3) Oracles. When Luna crashed last year, the oracles of some protocols could not keep up with the sharp fluctuations in the market in a short period of time. Luna has been re-listed on Binance, with a rise of several hundred times, but the oracle still shows the previous numbers. This is simply a legitimate way to rob money. No matter how the bull market track evolves in the future, it will contain elements of DIFI finance. Looking forward to it...
#Bruce
Letâs talk about the GameFi track today and why it deserves attention in 2023.
1. Let me first briefly introduce GameFi to you.
GameFi is actually a combination of Game + Defi. In simple terms, it presents financial products in the form of games, gamifies DeFi, NFTs game props derivatives, introduces PK battle mode, increases user/player interaction, improves fun, and allows players to earn money while playing. Compared with traditional game modes, blockchain games increase their uniqueness.
2.What is the difference between GameFi and traditional gaming mode?
Here are three points:
1. Game platforms no longer lock characters and treasure equipment within their own platforms, but are more willing to allow players to resell them in the form of NFTs. These NFTs are not purely for collection, but still have the function of enhancing players' combat power or attracting players/users to appreciate them in order to earn cash flow. Because they have some practical value, players are active in trading.
2. The game platform encourages players to participate in the game in a âPlay to Earnâ manner. However, in order to participate, players usually have to spend money to purchase some initial characters or virtual assets before they can enter the game.
3. Usually the game platform will also issue its own virtual currency. Players can not only buy this virtual currency to exchange for treasures/equipment, but also exchange it for other currencies on many cryptocurrency exchanges, or use its currency for investment, etc. This operation is the same as using Bitcoin or Ethereum.
3. Talk about the future development trend of X to Earn
There are various X to Earn in the market now. The ones we know so far are Play to Earn, Move to Earn, Learn to Earn, Drive to Earn, Write to Earn, Post to Earn, etc. There are also more novel and diverse ways, such as Sing to Earn, Sleep to Earn, Eat to Earn, Meditate to Earn, etc., which are all-encompassing. For example, after Axie Infinity's play to earn (earn while playing) and move to earn (earn while running) modes became popular, the X mode gradually evolved into a state of "everything can make money", and X to Earn has a wider narrative space than Play to Earn. Now here comes the point, how can X to Earn innovate to maintain its sustainability? After all, there are so many types of X to Earn in the market. At this time, several factors should be considered:
1. The project should build an ecosystem around X, which may include sponsors, advertisers, traders, collectors, loyal fans, gamers, gold farmers, etc. A closed-loop economic system is achieved through production and exchange among multiple parties within the ecosystem. Only with the continuous development of this economic system can X to Earn truly realize its value.
2. Focus on X, not Earn. After all, X is the starting point of the project narrative and one of the main cores to solve the real needs of users/players. As long as X is done well, then Earn will naturally not be a problem. After all, Earn is just one of the selling points in the Web3 field that can attract users to enter. If players/users can find their own sense of accomplishment or belonging in the X mode, then the project has a stable foundation and the sustainable development of the project can be guaranteed.
3. Always seek real feedback from players/users. This is inevitable. After all, Web3 is no longer dominated by one company, so user experience/feedback is one of the points that must be taken seriously, and the X model should take this as a consideration and make improvements and enhancements to the user experience. Only in this way can a healthy profit model and a stable economy be generated, which is a necessary condition for the long-term development of the project.
4. Some data about GameFi According to data from Statista, the revenue in the gaming sector has been growing year by year, from $91 billion in 2017 to $196 billion in 2022, an increase of about 40%, and mobile games account for a large proportion. In addition, the number of game players has also increased significantly year by year, from 1.7 billion players in 2017 to 2.4 billion players in 2022, introducing 700 million players to the gaming sector in just 6 years. It can be seen that the rise of the gaming sector has the potential to drive the entire GameFi market. But the premise is that GameFi must solve the following challenges: security issues, gaming experience, regulatory factors, and technical challenges.
4. My thoughts
With the arrival of 2023, various potential GameFi projects are ready to go. After all, Rug Pull projects basically cannot survive the bear market. Only those projects that are really doing things and keep building can survive.
The above views do not constitute risk investment, please analyze DYOR rationally. For more high-quality activities and views, please join the Binance Chinese official discord community to learn more: https://discord.gg/bnb
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