Market Opportunities
Liquidity staking revolutionizes the way assets are managed in PoS networks by turning traditionally illiquid staked assets into liquid assets. Staking typically involves locking up cryptocurrency holdings to support the security and operation of a blockchain, which makes those assets inaccessible during the staking period. However, Liquidity Staking issues Liquidity Staking Tokens (LSTs) in exchange for staked assets. These LSTs represent the amount staked and the accumulated rewards, allowing users to trade, use in DeFi applications, or use as collateral for leverage without having to wait for the staking period to end.

Market Insights
Web3, the next generation of the Internet, will be built on three fundamental pillars: consensus, storage, and computation. Blockchain technology started the decentralized revolution, and Web3 expands this concept to decentralize the entire Internet.
Decentralized storage, represented by a peer-to-peer network, creates a global, trustless and immutable hard drive. As a leader in this field, Arweave provides a cost-effective solution that ensures permanence, immutability and censorship resistance to meet the growing needs of NFTs and dApps.

Market Opportunities
Liquidity staking revolutionizes the way assets are managed in PoS networks by turning traditionally illiquid staked assets into liquid assets. Staking typically involves locking up cryptocurrency holdings to support the security and operation of a blockchain, which makes those assets inaccessible during the staking period. However, Liquidity Staking issues Liquidity Staking Tokens (LSTs) in exchange for staked assets. These LSTs represent the amount staked and the accumulated rewards, allowing users to trade, use in DeFi applications, or use as collateral for leverage without having to wait for the staking period to end.

Introduction
According to the Global Social Market Report 2024, the social media industry has experienced significant expansion, and its market value is expected to grow from US$219.06 billion in 2023 to US$251.45 billion in 2024, representing a compound annual growth rate of 14.8%. About 62.3% of the world’s population uses social media, with an average usage time of more than two hours a day.


Source: Smart Insights
Decentralized Social Media (DeSoc) offers a fresh perspective by revolutionizing the way creators monetize their content and manage online relationships. It promises to improve privacy, security, and most importantly, give creators full control over their data and its monetization.

The global situation is unpredictable, and although you may have noticed, it is still worth sharing some of Greythorn's insights.
While we are primarily focused on the crypto market, especially after Bitcoin’s post-halving bull rally was confirmed, the market may now be entering a “do nothing phase.” In this phase, most cryptocurrency holders are already invested, and waiting and watching may be a strategy.
For most investors, adopting a long-term perspective can simplify the investment process and reduce the need for frequent adjustments. At present, the best option seems to be either long-term holding or betting on meme coins.

Introduction
Welcome to Greythorn Asset Management's monthly market update for April 2024. We are pleased to share insights and analysis that will help you understand our work and the market trends we observe. Our mission is to invest in breakthrough technologies and asset classes to generate significant value and have a positive impact on the world.
At Greythorn Asset Management, we are committed to providing monthly updates on the cryptocurrency markets. These updates include in-depth analysis of market dynamics, regulatory developments, and macroeconomic factors affecting digital currencies.

The Saga Protocol is revolutionizing the way blockchains are deployed through its product, Chainlets, which are automated, high-performance blockchains that are interoperable and customizable within the Saga ecosystem.
Project name: Saga
Project Type: L1
Code: $SAGA

Cryptocurrency ranking: 221
Market Cap: $22.5M
Fully Diluted Value (FDV): $3.6B
Circulating Supply: 90M (9%)
Total supply: 1B
Max Supply: ∞

introduction
Modular blockchain provides solutions to the difficulties in achieving decentralization, security, and scalability in blockchain technology. This innovative approach distributes the basic functions of blockchain, such as execution, settlement, data availability and consensus, across specialized networks. Unlike traditional blockchains that rely on a single network to handle all operations, modular blockchains separate these tasks, significantly increasing the efficiency of each function.

Project name: Toncoin
Project Type: L1
Code: $TON
Cryptocurrency ranking: 10
Market value: $22.5 billion
Total Issue Value (FDV): $33.2 billion
Circulating supply: 3.47 billion (68%)
Total supply: 5.11 billion
Max Supply: Unlimited
Opening words
Telegram was founded in Russia in 2013 by Nikolai and Pavel Durov. Today, it is the third most downloaded messaging app in the world, the eighth most popular social network, and one of the top five messaging apps with 800 million monthly active users. Its CEO Pavel Durov is one of the richest social media billionaires with a net worth of over $15 billion.

opening words
In the world of Web3, sharing data securely and easily across blockchains is key. To overcome interoperability challenges in the crypto space, bridging technology is crucial, connecting different blockchains to enable token exchange and liquidity enhancement.
Last month, combined transaction volume across all bridges exceeded $11 billion, underscoring their critical role in the industry.

Source: DeFiLlama
Cross-chain bridges do more than just transfer tokens; they enable a variety of operations across blockchains, from governance to launching new tokens to enhancing gaming experiences.

Project name: AltLayer
Project Type: Rollup, Restaking
Token symbol: $ALT
Cryptocurrency Ranking: 161
Market value: 572 million
FDV (fully diluted valuation): 5.19 FDV
Circulation supply: 1.1 billion (11%)
Maximum supply: 10 billion
opening words
In the space of Ethereum scaling solutions, Rollup has emerged as a key innovation, offering a promising way to alleviate the network’s scalability challenges. By aggregating transactions off-chain and efficiently adding them to the Ethereum blockchain, Rollup not only increases the number of transactions the network can handle, but also maintains the security and integrity of the main layer. This process has played a significant role in enhancing Ethereum’s ability to handle a wider range of dApps. As it stands, eight of the top ten Ethereum scaling solutions are Rollup.

Project name: Io.net
Project Type: DePin - Artificial Intelligence (AI)
Token symbol: $IO
Cryptocurrency Ranking: N/A
Market cap: N/A
Fully diluted market capitalization (FDV): N/A
Circulating supply: N/A
Maximum supply: N/A
opening words
In the digital age, computing power has become key to technological advancement, defining the ability of a computer to perform operations through its memory, processor speed, and number of processors. This capability determines how efficiently the device performs tasks and its ability to handle multiple processes, thus affecting performance and cost. With the rise of artificial intelligence (AI) and deep learning models, demand for accelerated computing power such as GPUs has surged, leading to a global shortage.

Project name: Morpheus
Project Type: Intelligent Agent Artificial Intelligence (AI)
Token symbol: $MOR
Cryptocurrency Ranking: N/A
Market cap: N/A
Full Issue Value (FDV): N/A
Circulation supply: N/A
Maximum supply: 42 million
opening words
Greythorn recently analyzed several AI projects, highlighting that artificial intelligence and its significant impact in the coming years are worthy of attention. At the same time, Greythorn sees growing demand for open source large language models (LLMs). It is worth noting that these LLMs usually lack basic features such as user-friendly interface and effective management of user data. To solve these problems, smart proxy protocols are introduced. It facilitates the management of local LLMs through a Web3 wallet, enhancing user experience and control.

Beginning
DePINs are quietly leading a revolution. This movement is based on a simple logic: moving from traditional, centralized approaches to a more open, collaborative and innovative model; it leverages the appeal of cryptocurrency incentives to bring people together to build and manage the things we all rely on infrastructure.
This research explores the DePINs track. Against the background of fluctuations in the entire encryption market, DePINs has shown stable and lasting development performance. It is worth mentioning that DePINs’ revenue model has proven to be based on practicality rather than speculation. While the overall crypto market has experienced a steep decline of 70-90% over the past few years, DePINs’ revenue has only dropped 20-60% from its peak.

Author: Greythorn
introduction
Welcome to Greythorn's February 2024 market research report. As cryptocurrencies become increasingly important in finance, we will continue to provide readers with the latest trends and cutting-edge information on digital assets and blockchain technology.
Greythorn will continue to provide readers with monthly analysis reports on the cryptocurrency market, including detailed analysis of market trends, updates on regulatory developments, and macroeconomic factors affecting these digital currencies.
To learn more about us, please visit our website.
Bitcoin Analysis
February market trends

Project Name: Bittensor | Project Type: Artificial Intelligence (AI) | Codename: $TAO | Cryptocurrency Ranking:#30| Market Cap: $3.3 billion | FDV: $3.3 billion | Circulating supply: $6.23 million (total supply 29.69%) | Maximum supply: $2.1 million
introduction
The artificial intelligence industry has boomed in recent years, especially the emergence of breakthrough technologies like ChatGPT, attracting US$25 billion in investment in 2023 alone, five times the amount in 2022. This massive influx of capital fully demonstrates people’s positive expectations for artificial intelligence to become a trillion-dollar industry.

Source: Hyper Oracle
introduction
Currently, decentralized applications (DApps) encounter many challenges in securely organizing and processing data off-chain. HyperOracle launches zkOracle, an innovative solution that uses zero-knowledge proof technology to achieve seamless connection between on-chain data and off-chain environments.
As a bridge to introduce machine learning to on-chain technology, HyperOracle not only opens the door to scalable AI capabilities, but also ensures that the dual requirements of decentralization and data verifiability are met.
At the intersection of AI and blockchain technology, transparency is particularly critical. Despite continued commitment to the openness of the chain, the opacity of AI models remains a major challenge. Vitalik Buterin, founder of Ethereum, believes that the combination of AI and encryption technology has great potential, and the transparency of blockchain can help eliminate the inherent ambiguity of AI.

Project name: Jupiter
Network: Solana
Project Type: Decentralized Exchange Platform (DEX)
Token symbol: $JUP
Cryptocurrency Ranking: 98th
Total market value: $718.6 million
Fully diluted market capitalization (FDV): $5.29 billion
Circulation supply: 1.35 billion coins (accounting for 13.50% of the total supply)
Total supply: 10 billion pieces

Opening overview
On January 15, 2024, a report released by the Binance research team showed that the encryption market experienced a significant recovery in 2023, with the total market value increasing by 109%. At the same time, the decentralized finance (DeFi) sector has also achieved strong growth, with its total value locked (TVL) increasing by 38.9% year-on-year to $53.4 billion.

Beginning:
Welcome to the first edition of Greythorn's market update report. In an era where cryptocurrencies are increasingly in the spotlight, it is crucial to ensure that our readers have a solid understanding of the latest developments in digital assets and blockchain technology.
At Greythorn, we are committed to providing monthly market updates, providing in-depth analysis of the latest developments in the crypto market and their interaction with the macroeconomic environment.
Each report will include analysis of key market indicators, in-depth interpretation of adoption trends, changing trends in market sentiment, and the latest news on regulatory developments. Additionally, we'll delve into the evolving role cryptocurrencies play in the global economy, helping you stay ahead of this dynamic industry.

Project Name: Magpie XYZ
Network support: Arbitrum, Binance Smart Chain
Project type: Multi-chain revenue provider platform
Token symbol: $MGP (native cross-chain token)
Cryptocurrency Market Rank: #752
Market capitalization: approximately US$29.3 million
Fully diluted value (FDV): approximately $92.2 million
Circulating supply: 319.44 million MGP (31.94% of total supply)
Total supply: 1 billion MGP
opening remarks
Magpie XYZ, a leading multi-chain yield protocol, recently announced a strategic integration with Ethereum-heavy staking protocol EigenLayer. This major move gave birth to SubDAO Eigenpie, which greatly improved the capabilities of heavy-staking services through the use of EigenLayer technology. Also worth noting is that Eigenpie is gearing up to launch its governance and profit-sharing token EGP.

Project name: Picasso Network
Project type: cross-chain, re-pledge (Restaking).
Codename: $PICA (natural cross-chain token)
Cryptocurrency Ranking: #489
Market cap: $67 million
Fully diluted valuation: $149 million
Circulating supply: 4.53 billion (45.34%)
Total supply: 10 billion

                               
Project Overview:
Amid recent technological advances and collaborations in the blockchain field, the Picasso Network has demonstrated its vision as a cross-chain communication hub. Initially launched within the Kusama ecosystem, Picasso’s mission is to promote interoperability across the ecosystem and build a robust infrastructure within the Polkadot network. In parallel with this is the development of Composable Cosmos, which aims to expand the ability to transfer assets across chains and break through the limitations of a single ecosystem.