Sentiment and mindshare for alts are becoming increasingly bearish.

However, did you know that around June each year, crypto experiences a similar situation to what we're seeing now?

I believe that this Q3 is the perfect time for a “DCA Summer” — all the reasons I'm bullish🧵 1/ History might be repeating itself, with alts mirroring Bitcoin's summer 2021 pattern.

- Alt meltdown
- S&P hitting ATH
- Crypto lagging behind
- Extremely negative sentiment

The current situation is similar to back then, suggesting we might be near the bottom. H/T @resdegen

Some thoughts on the Memecoin cycle🧵 1/ Meme coins are emerging as an alternative to 'VCs, CEXs, and high FDV' in this crypto cycle.

Community-driven + Fair Release have captured the mind share of retail investors and have started to exert influence in the actual bidding stage.

BlackRock's entry signals 10x-100x potential in RWA sector.

Then, which RWA projects are most relevant to BlackRock?

Why you should pay more attention to Aptos🧵👇 1/ In Feb, the AI narrative was driven by 1) "OpenAI Sora" and 2) the "GTC 2024".

Now, RWA narrative is being led by the BlackRock tokenization fund #BUIDL

Considering recent narratives have lasted at least a month - the rise in the RWA sector is still in its early stages.

RWA sector is set to dominate the market.

- BlackRock
- Coinbase

2 months after the Bitcoin ETF approval, the key narrative to watch now is RWA🧵 1/ Following the approval of the Bitcoin ETF, substantial funds are flowing in from TradFi, with "Global Asset Management" at the core.

This suggests that future crypto narratives will likely be led by entities like BlackRock/Fidelity.

Binance vs Bybit - Round 2

(2023) Binance Spot ➬ Future
(2024) Bybit Perp ➬ Binance Future

Binance is deploying strategies to counter Bybit.

Why projects listed on "Bybit Perp" are more likely to be listed on "Binance Future" 🧵 1/ Since Richard Teng became CEO at the end of last year, the Binance listing rally has truly begun.

As expected, Binance Spot listings are centered around "Binance Labs + IDO".

https://twitter.com/layerggofficial/status/1737325430448050590

After Bitcoin ETF Approval:

• US ETFs Inflow > GBTC Outflow
• BTC ETF flow > Gold ETF flow
• Rate cut & Money Printing

Reasons not to be a Bear🧵 1/ ETF Inflow

- New US ETFs: +170,628 BTC
- GBTC Outflow: -132,136 BTC

Total BTC Net flow: +28,103 BTC

The selling pressure on $GBTC is diminishing, and the net flows of BTC ETFs are starting to look good.

Bitcoin ETFs are 3.29% of Current BTC Supply, and this number is going to get more and more attention.

Grayscale's sell-off is expected to be over in the coming months, the next stage is:

• January - BTC ETF✅
• March - ETH Dencun Mainnet
• April - BTC Halving
• May - ETH spot ETF

Ethereum is set to dominate the crypto narrative in mid-2024👇🧵 1/ SEC - ETH spot ETF

SEC is an institution that must make consistent decisions in compliance with the APA.

Therefore, with the Bitcoin ETF already approved, the chances are high for an Ethereum ETF to pass in the first half of this year.

The earliest decision date among the seven Ethereum spot ETFs is scheduled for May 23rd.

*Given the significance and influence of BlackRock, the final approval could potentially be delayed until August.

**Note - Bitcoin's ETF rally began in earnest 3 months prior to approval.

Nym is one of the few projects that meet all the conditions I mentioned earlier.

• Consistent development post-launch
• Solid products
• Doxxxed team
• Potential to become a Cult (Hype)

The @nymproject Thesis🧵 1/

Nym is the 'Layer 0' privacy stack for the entire internet.

Unlike traditional privacy protocols limited to application-level, Nym targets mass adoption with its Mixnet & VPN.

🏞The Importance of Ecosystem Fund

L1 and L2 projects are making efforts to enrich their ecosystems through Ecosystem Funds(EF).

As the clear use cases of ecosystems increase, such as project numbers and TVL growth, they show higher rates of ascent.

Let's Roll out 🧵 1⃣ Best Case: $OP, $INJ, $METIS, $SUI, $SEI, $ARB

In the best cases, there is a commonality in the large scale of funds, and the following characteristics are observed:

1) Active Public discussion: @Optimism, @arbitrum
2) Increase of sub-projects: @SeiNetwork, @SuiNetwork, @Injective_
3) TVL growth: All of them

👏 Representative Case Study

1/ Optimism
- During Season 1, also known as Op summer, $OP Price went up about a 174% increase,
- In Season 3, even with a smaller amount, it led to a 243% surge.

Optimism played the role of a trumpet, announcing the importance of the Ecosystem Fund.

2/ Injective
Injective is particularly noteworthy.
- $150 million size EF equivalent to 70% of the $INJ market cap at the time.
- The mere announcement of the fund triggered a significant surge.

Subsequently, with a richer ecosystem and the narratives surrounding INJ staking Airdrop, it experienced a remarkable 2000% increase within just one year.

3/ Sui
- After the EF announcement, TVL has been consistently rising
- Reaching a recent all-time high Price.

4/ Metis
- Similar to Injective
- announcing an $100M EF equivalent to 50% of the market cap
- led to a 333% Local High with the announcement alone.
- Recent ATH achieved.
- Great expectations for the future as well.

2024 Possible Upcoming Narratives🎁

BTC ETF has passed ✅
ETH Price is going up ✅
ETH ETF Anticipation 🔥
Altcoin season Summoning 🕯️

Let's check what future narratives are in front of us

Let’s roll out 🧵 1⃣ Technical Narratives

1/ Dencun - blob Upgrade - L2 wars

Let’s start with well known thing.

Dencun upgrade is scheduled making blob space on L1 $ETH

Note that Blob fee market is independent with L1 gas fee

All L2s will compete each others to get blob space.

$OP $ARB $METIS @MantaNetwork @zksync @LineaBuild $IMX

2/ RAAS → Like Levi’s on Gold rush

In the gold rush, Levi strauss earned huge more money than gold miners because they needed jeans. Levi supported them just fulfilling needs.

Likewise, Already more than 50 projects announced they are or are becoming rollup-L2.
As more projects are getting to migrated to L2, then L2’s essential goods become the winner.

I bet RAAS(Rollup-as-a-Service) projects are like Levi’s on gold rush.

$GEL @gelatonetwork @alt_layer @AstriaOrg @Calderaxyz @conduitxyz ...

3/ Based Sequencing (L1-sequenced Rollups)

@sreeramkannan, CEO of EigenLayer, said Based Sequencing is the gold standard 🥇

Using based sequencing, Whoever builds the L1 block can atomically build the next block for both rollups, allowing them to extract MEV atomically from both (and from the L1)



With Based Sequencing, you will be able to catch two rabbits: security and decentralization.

@taikoxyz

4/ MEV - Scourge - Onchain Trading

What's the point of L2's season?
➡️Onchain Trading will become even more active.

Accordingly, each player should have a strategy about MEV, such as reducing users' exposure to MEVs or, conversely, maximizing the benefits they get advantage from MEVs.

Currently, problem of MEVs is mitigated using Flashbot's Mev-Boost, but it should ultimately be solved through enabled PBS (ePBS) solving relay centralization problem, too.

$FOLD, $JTO, $GNO, $COW...

5/ Revival of Onchain Trading Bot

As far as I’m concerned, we can expect revival of Onchain-trading bot as same reason for 5/ MEV’s

@TeamUnibot, @BananaGunBot, @PaalMind ...

6/ BTC's Nutritional supplements

among BTC miners' profits, The proportion of transaction fee is increasing.

Before the listing of $ORDI on Binance, BTC block reward fees did not exceed 10K.

But after listing, block fee rewards have surged to a maximum of 200K and have never dropped below 10K.

The transaction fees profit taken by miners per block is 0.6225 BTC.

Whether you're BTC maxi or not, you'll agree that activation of BTC transactions gives a big boost to the entire market.

$ORDI, BRC-20, ARC-20, $STX, $ALEX...

7/ BNB Greenfield ↔ Depin

Sorry for typo of main image 😅
Anyway BNB Greenfield is decentralized storage network powered by $BNB.

BNB Greenfield Mainnet Manchurian Hardfork will be executed on Jan 16th.

until Q2, BNB Greenfield is going to activated step by step.

Nobody knows how important dePIN is.
I believe that BNB Greenfield will once again become a reminding trigger or catalyze.

$BNB, $AKT, $HNT, $THETA, $STORJ, $FIL, …

https://twitter.com/danrobinson/status/1664454374704418818

2024 Bull run Starter pack:

These were some of the main ideas and trends to watch in 2024🧵 1/ zk-Rollup

Before 2022, the main debate centered on which technology, Optimistic or zk, had superior capabilities.

But, After the cost reduction following EIP-4844, and with the launch of big projects, the previously quiet L2 Wars are expected to reignite in full force.

The key is how well each project can build its ecosystem.

- @zksync
- @Starknet

Narratives of the today: Parallel EVM

- Sei Network $SEI
- Neon EVM $NEON
- Monad @monad_xyz

Let's dive in👇 1/

Parallel EVM is to improve the performance of block processes by executing the transactions concurrently.

On December 12th, the CTO of Paradigm mentioned this.

https://twitter.com/gakonst/status/1734253305847767385

Blockchain projects invested by U.S. Companies🇺🇸 Among Global Top 100 Companies

Traditionally, VCs are the most active players in blockchain industry. However, the biggest companies in the world are also entering and investing in blockchain scene. @Google #HeyGoogle #microsoft 1)
In the past, Infra/CeFi sector were mainly invested, but recently, Web 3.0 Projects have also attracted the attention of global giants. @Google has the most active investor, and @pfizer has the most recent investor in blockchain.

0/ After Ethereum Shanghai hard fork, Decentralized Validator Tech (DVT) can be in the spotlight. Why?

Let's see🧵 : 1/ The staking rate of the Ethereum chain is overwhelmingly lower than that of other chains.

Source - @MessariCrypto

2022 Q1 Multicoin Cap Portfolio Not yet listed on
@binance or @CoinbaseExch. Token Unreleased projects
@BetDEXLabs @BurntFinance @catalogfi @MantaNetwork @sommfinance @SwivelFinance
@worldcoin @ProjectGalaxyHQ @Starknet_Intern
@aptoslabs @DriftProtocol @ceramicnetwork
@oxio_com @SquadsProtocol @Superfluid_HQ
@_portals_ @EnsoFinance @DFlowProtocol