$ETH tokens will be required to stake in order to validate the network, given the shift from POW to POS.
In theory, this means that more tokens are locked (reducing supply), and well as increasing demand due to the higher APR achievable through staking (~7.5%).
Another 2 key factors come in to play when quantifying the impact of the merge:
β’ A reduction in issuance (ETH becomes a deflationary asset).
β’ A 99% decline in energy consumptions: Making $ETH more palatable from an institutional investment perspective.
β’ β’ β’
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SocialFi will be one of the biggest narratives this summer.
Friend Tech's V2 launch + airdrop could kickstart a broader SocialFi season.
You still have the chance to be early.
π§΅: My FULL guide to SocialFi (+ top picks).π
In this thread, I'll cover:
β’ What is SocialFi?
β’ Friend Tech V2 & Airdrop
β’ Why SocialFi could be a strong trade in the coming months
β’ The specific SocialFi projects I'm watching (best proxy plays)
Let's dive in.π
Firstly, what is SocialFi?
Social Finance, or SocialFi, combines the principles of social media with decentralised finance.
Simply put, it incentivises social media participation with crypto tokens.
Grayscale believes we're currently in the βMIDDLEβ stages of a crypto bull run.
They just released a report which breaks down their key findings, AND what comes next.
I read through its 2400 words, so you don't have to.
π§΅: Here's everything you need to know.π
Grayscale began by citing a number of signals that we're currently in the middle of a bull market.
β’ Bitcoinβs price breaching its ATH prior the Halving
β’ Total crypto market cap reaching its previous high
β’ Meme coins garnering TradFi attention
But in order to work out how long this rally will sustain, we must assert the underlying price drivers.