1/ I just read #KuCoin's 2021 Annual Report and 2022 Forecast on the Crypto Industry.
Here are my key takeaways, a thread. 🧵
Lets go! 👇👇👇
#DeFI / #NFT / #DAO / #Stablescoins / #Memecoins / #Risks
2/ #BTC and #ETH remain the undisputed market leaders.
🔸BTC was the best performing major asset in 2021
🔹ETH has also been gaining traction as a store of value
ETH becoming deflationary is a big change (pictured).
More on ETH next 👇
3/ #ETH Gas Fees
ETH network occupancy rate was over 98% in 2021 (pictured)!
This is close to its resource critical point leading to high gas fees / the scaling problem.
#DeFI ecosystem is limited by the performance of ETH.
ETH2.0 is expected in 2022. Next, #shitcoins 👇
4/ Best #shitcoins to watch in 2022:
🔹49 / 100 top projects on CMC are underlying ecosystem projects.
Top ecosystem coins:
👉 #ETH, #Binance Smart Chain (BSC), #Polygon, #Cadano, #Cosmos, #Terra, #Polkadot, #Kusama, #Solana, #Flow, #Algorand, #NEAR
Next, #memecoins👇
5/ #Memecoins
#Dogecoin & #Shiba topped the list in 2021.
Memecoins have yuuuge / unlimited tokens in circulation (1st red flag), can be purchased for cents on the dollar (2nd red flag) and rely on branding/herd mentality - look mom, I am a #frognation member!
Avoid. Next 👇
6/ Permanent Blockchain Storage
Surprised to see #Arweave featured in the report.
It is a revolutionary blockchain storage platform focused on PERMANENT storage.
Keep an eye on this (buy it on #KuCoin/#Binance).
Next, decentralization 👇
7/ #Decentralization - key point for #DeFI
Validating nodes ranking:
1️⃣ #ETH - 3.7 million nodes (sexy)
2️⃣ #SOL - 1,375 (meh)
3️⃣ #AVAX - 1,203 (meh)
4️⃣ #Terra - 130 (WTF)
5️⃣ #BinanceSC - 21 active nodes (WTF, RUN)
Next, transactions 👇
8/ Transactions/s or tps
1️⃣ #SOL - 3,290 (ok)
2️⃣ #Terra - 1,000 (ok)
3️⃣ #AVAX - 300 (meh)
4️⃣ #BinanceSC - 75 (WTF, RUN)
5️⃣ #ETH - 14 (meh, at least this is decentralized!)
ETH2.0 can be expected to reach 100,000 tps.
More on #DeFI next. 👇
9/ #DeFI stats
🔹Increase to >$100 bil in 2021!
🔹#DeFI lending & #DEX exchanges account for approximately 90% of the whole DeFI (by TLV)
🔸DeFI has extended to #NFT, #GameFi, #SocialFi, but it is attracting regulators now...
Top #DeFI platforms next 👇
10/ Top #DeFI platforms:
🔹Lending ($40 bil): #Maker, #Aave & #Compound dominate
🔹DEX ($20 bil): #Uniswap, #Sushiswap & #Curve
🔹Derivatives ($3 bil): #SNX, #DYDX, #Nexus
Beyond 2022 - combining DeFI with NFT + Play to Earn (#PTE) + #SocialFI+ #GameFI
Next, stablecoins 👇
11/ #Stablecoins - at risk of regulation!
Centralized (at risk):
#USDT ($80 bil) - risky
#USDC ($52 bil) - ok
#BUSD ($18 bil) - meh
Decentralized:
#UST ($12 bil) - meh, artificial growth
#DAI ($10 bil) - ok
#FRAX ($2.6 bil) - ok
#LUSD ($0.7 bil) - ok
NFTs next 👇
12/ #NFT / #Metaverse - industry giants are getting in big
🔹The greatest single-day NFT trading volume in 2021: $570 mil (Nice #FOMO!)
🔹NFT users went from 193k at the start of 2021 to 1,3 mil (717% increase)
#DAOs next or Decentralized Autonomous Organizations 👇
13/ #DAOs
🔹They are open, fair and secure, based on blockchain technology and decentralized. Easy to set up
🔹 #Vitalik (ETH founder) first mentioned DAOs in 2013
🔹Almost all decentralized projects can be called DAOs, such as #Bitcoin and #Ethereum
Types of DAOs next 👇
14/ Types of DAOs:
🔹Protocol DAOs (#Uniswap, #Compound, #Sushi, #MakerDAO)
🔹Investment DAO (Yield Guild Games - play to earn)
🔹Social DAOs (Friends with Benefits)
🔹NFT collectible DAOs
🔹Media DAOs (#Forefront, #Bankless, and #DarkStar)
🔹Service DAOs
Risks next 👇
15/ Security risks in crypto:
1️⃣ Oracle attacks = price manipulation
2️⃣ Flash loan attacks = buy low, sell high manipulation
3️⃣ Cross-chain attack = siphoning funds / stealing
4️⃣ Free airdrops = enter your email & wallet keys to get it! #Recked 🤣
Best crypto audit firms 👇
16/ Security & Privacy:
🔹Best crypto audit firms: #CertiK and #SlowMist
🔸Coin mixer (on #ETH): Tornado.cash - popular with hackers, scammers to cover their tracks
More next 👇
17/ If you liked this thread, #retweet the first post to get more of this content in the future! 😍
Stay in touch + follow:
Discord: bit.ly/3n2gng0
TradingView: bit.ly/3FUjwHj
YouTube: bit.ly/3p8vPdf
Newsletter: bit.ly/3BuXf13
18/ Link to #KuCoin's full report where you can also download it.
Thanks for reading! 🤩
businesswire.com/news/home/2022…
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