Blockchain and Tokenomics are great innovations, but they have now downgraded into a game of VCs dumping tokens to the retail, which hinders their mass adoption.
Yesterday, the Bank of Canada announced a 25 basis point interest rate cut, becoming the first G7 central bank to cut interest rates.
Today, the European Central Bank made the same decision and cut interest rates by 25 basis points. Recent U.S. employment data have weakened significantly, and the Federal Reserve is expected to cut interest rates once this year. Although inflationary pressure in Europe and the United States has not yet been relieved, the monetary easing cycle of G7 central banks has begun.
Yesterday, U.S. stocks hit a new high. Risk assets are being priced at a macro level, which is positive. The liquidity spillover caused by monetary easing can bring more incremental funds to the currency market. The market outlook remains optimistic.
No wonder BNB surged 20% yesterday. It may be related to IO mining. The dealers made a lot of money by making arrangements in advance based on inside information😂.
LIVE
Binance Announcement
--
Binance Launches 55th Newcoin Mining Project, Use BNB and FDUSD to Mine IO.NET (IO)
Important: Binance will be the first platform to list this token, and trading will open on June 11, 2024 at 20:00 (GMT+8). Any claims of selling this token before the stated timeline are false advertising. Please do your own research to ensure the safety of your funds! Dear User: Binance Launchpool now supports the 55th project - IO.NET (IO), a decentralized AI computing and cloud platform. Users can invest BNB and FDUSD into the IO mining pool on the Launchpool website after 08:00 (GMT+8) on June 7, 2024 to receive IO rewards. The IO can be mined for a total of 4 days. The website is expected to be updated within about five hours of this announcement before the mining activity is launched.
Just now, PHB released the third round of inflation rate reduction announcement. Starting tomorrow, PHB inflation rate will drop to 7.38%.
PHB is currently the AI token with the lowest inflation rate and market value in Binance AI sector, with a total of only 64 million, and is a seed player in AI tokens.
The Korean crypto market has a huge number of users and transaction volume, and the crypto community is very active. This is what I have experienced deeply in my recent marketing activities in Korea.
The Despread team released a research report on the Korean crypto community yesterday. The report disclosed a lot of valuable data and opinions. Here I share with you:
①Upbit's spot trading volume ranks second in the world, second only to Binance;
②Korean users love to speculate in cryptocurrencies more than stocks, which is rare in the world;
③Korean users like to speculate in cryptocurrencies on CEX, not on-chain transactions;
④There are more than 9.5 million registered users on CEX in Korea, and only 7.6 million in Japan;
In addition, Korean users like to participate in the speculation of altcoins and meme coins. Last year's popular Bitcoin L2 project $STX , Move series L1 token $APT , more than 70% of the trading volume came from Korea.
Korean users are highly involved in the hype of crypto market transactions, but they have little interest in ordinary small projects. If various Web3 projects want to enter the Korean market and attract the attention of Koreans, they need to adopt localized marketing strategies and promote in a way that Koreans like, which is more likely to succeed.
The technical breakthrough of RGB++ protocol has made CKB's value flywheel turn. Nervos Network has persisted for more than 5 years, and finally the old tree has blossomed, and the new tree has burst into sparks. The team has finally seen the bright moon.
I hope CKB will become the first 10 billion market value token in the Bitcoin L2 ecosystem, and let the market reward this team that sticks to its original intention.
The total amount of Wormhole token W launched tonight is 10 billion, and 1.8 billion (18% of the total) will be released tonight, and at least 150 million new tokens will be released every month in the next four months.
The token airdrop targets this time are mainly developers and ecological partners, not users.
The W token has no actual use scenario and is a governance token (air coin). Its liquidity cross-chain solution does not require the use of W coins at all.
The project party is not big, and the token is launched in a hurry. With such a large circulation, it has not been endorsed by top investment institutions and market makers. From the perspective of secondary investment, retail investors are not recommended to participate. Let the project party and partners issue coins and play by themselves. 😂
Recommended at 8:30 tonight, the price was 0.62 at that time, and now it is 0.77. The logic of the recommendation is very clear: 1. The circulation volume is small. The new currency has just been launched, with an initial circulation of 1.45 billion (9.5%) and a market value of about US$800 million; 2. The project background is strong, with many overseas DeFi track leaders and top institutions participating in incubation funds, including Binance Ecological Fund, OKX, and Bybit; 3. The data on the chain just showed that two top market makers, GSR and Wintermute, participate in market making; 4. Refer to the Launchpad tokens launched on Binance this year. They all experienced skyrocketing after being online for a period of time. Please refer to ETHFI, AWEO, ALT, and PIXEL (but there is no 100% probability of skyrocketing);
SYS is expected to explode. The core logic is that the Bitcoin L2 ecosystem will explode soon.
Referring to CKB's market capitalization of 1 billion, SYS should still have 4 times the potential.
Since this year, many Chinese teams and VCs in the currency circle with Chinese background have been working on Bitcoin L2. They want to occupy the ecological C position in Bitcoin L2, seize the right to speak, and make up for the fact that mainstream public chains such as Bitcoin, Ethereum, and Solana are all controlled by Americans. regret.
There have been many breakthroughs in technology recently. The day before yesterday, Polyhedra Network (Chinese team) announced a new breakthrough in Bitcoin zero-knowledge proof verification technology, thereby providing new solutions for the development of Bitcoin L2.
Syscoin has developed in-depth cooperation with this technology, and SYS is worth ambush.
Financial giant BlackRock has just launched its first real world asset (RWA) fund on Ethereum, with a scale of US$100 million.
This is just the beginning. The pace of traditional financial giants’ deployment of encrypted assets is accelerating, and blockchain has opened up a huge blue ocean for the transparency of traditional assets.
As I said yesterday, the Ethereum ecosystem will definitely explode, and everyone will wait and see.
The Ethereum ecosystem will definitely explode, and mainstream L2 transaction fees have dropped to close to 0, which is cheaper than Solana.
Now it just takes time and waiting, and when more and more users migrate their assets from the Ethereum mainnet to L2, the Ethereum community will surely be more powerful than Solana today with the largest number of users and the strongest capital.
Uniswap is the largest Dex in the Ethereum ecosystem. It is only a matter of time before its market value exceeds 50 billion US dollars. Let us wait and see.
The total market value of Solana has exceeded 110 billion, and the total market value of Jupiter, the largest transaction aggregator in the Solana ecosystem, has exceeded 13.4 billion. The market value ratio of the two is 8.2:1.
The total market value of Ethereum has exceeded 400 billion. Uniswap, as the largest DEX in the Ethereum ecosystem, has a market value of only 12 billion. The market value ratio of the two is as high as 33:1.
Uniswap's market value trading volume has been surpassed by Jupiter, which is reasonable in the short term because Jupiter's trading volume has surpassed Uniswap.
However, whether it is absolute market value or relative L1 market value ratio, I think Uniswap is undervalued.
Uniswap will launch on-chain voting for fee dividend proposals next month, launch V4 in the third quarter, and expand the liquidity cross-chain solution UniswapX to mainstream L2. These positive factors have not yet been reasonably priced in the market.
How long will this unreasonable market pricing continue?