I sorted out the data over the weekend and found an interesting research angle on the "pan-Jump series" crypto projects.
The reason is that after INJ was cleared at a floor price of around $1 last year, I had a strong urge to slap my thigh almost every month~ So I dug up Jump Trading (Jump Crypto's parent company), a key role behind Injective. Yes, Jump should not be unfamiliar to old users.
In addition to Terra, Wormhole, Pyth, and Monad, which has just completed another huge financing of $225 million, are essentially "pan-Jump series" projects.
If we count these projects, we will find that they all have some common features:
1. They are all financial-oriented & have a high starting point, and are very good at catching the market's FOMO point for narratives, such as INJ-global liquidity L1, PYTH-Chainlink & financial market data on Solana, Wormhole-full-chain interoperability, Monad-parallel EVM & 10,000 TPS Ethereum;
2. The full circulation market value (FDV) is extremely high, but the circulation market value is extremely low, which can easily discourage people. According to the latest data from CMC, even though W has been halved recently, FDV is still as high as 6.3 billion US dollars (MC is 1.1 billion US dollars), while PYTH is 6.4 billion/950 million;
3. It is precisely because the FDV/MC ratio is extremely exaggerated, so it is generally unlocked while reversely pulling up abnormally - the trend after going online is to "fall down continuously" to wash the market, then "rise in doubt" to blow up the shorts, and finally "convince people with the rise" FDV/MC approach, especially once the capital side, news side, etc. begin to catalyze, it will be determined to blow up waves of shorts and never look back~
In order to verify the speculation at that time, PYTH was tracked at the beginning of its launch, and it was speculated that it might follow the rhythm of deep fall first to wash the market and then pull up. Later, starting from November last year, PYTH fell from about 0.5 to a minimum of 0.2 (Binance contract) amid the community's applause, and finally, with the catalytic factors such as the launch of Binance spot, it was unstoppable and pulled up to a maximum of 1.1 in just two months. Above~
Having said so much, I just think that W may follow a similar path again. Students who have ideas can continue to follow it (disclaimer of interest, no marketing fees received, not holding W yet, but indeed considering buying it)😀
