Foresight News takes you through this week’s hot topics and recommended content:
01 Trump assassination
"Germany ends sell-off and rebounds, will Trump's assassination bring dramatic changes to the market? "
02 Binance 7th Anniversary
"Be a companion on the road to "better" | Binance 7th Anniversary Interview"
He Yi: Ten Years of Encryption and My Industry Values
03 Industry Insights
《A quick look at Forbes' top ten tokens for the first half of 2024》
Grayscale: In the AI era, which crypto projects can thrive?
"2024 Crypto Market Q2 Report: Total Market Value Dropped 14.4%, MEME Coin Is the Most Popular"
Galaxy: Detailing the Risks and Rewards of Ethereum’s Staking Economy
《VC and EigenLayer founder debate "data ownership"》
"Bitwise Chief Investment Officer: ETF's impact on Ethereum will surpass Bitcoin"
"To Web3 founders: How to get your token listed on mainstream CEX?"
04 Project Observation
《JOJO obtains seed round financing to explore new paradigms of on-chain derivatives》
《A quick look at Solana’s rising star project Solayer》
01 Trump assassination
On July 13, the balance of Bitcoin addresses seized by the German government showed that the sell-off may have ended, ending the large-scale sell-off in mid-June; on July 14, US presidential candidate Trump was assassinated at an offline campaign rally in Pennsylvania. Afterwards, Trump's election victory rate on the prediction market platform Polymarket has soared to 71%, which is undoubtedly a big positive for the cryptocurrency market. Recommended articles:
" Germany ends sell-off and rebounds, will Trump's assassination bring dramatic changes to the market? "
It is worth mentioning that Trump will also attend the Tennessee Bitcoin 2024 Conference on July 27 and deliver a speech. If the probability of Trump's victory continues to rise, the crypto market may usher in this potentially favorable "price in" rise in advance.
There is no movement in the distribution compensation of Mt.Gox for the time being. After months of market depression due to constant pessimism, the selling force weakened and the Bitcoin spot ETF data performed well. Since July 5, the ETF data began to show net inflows, and even on July 12, the total net inflow reached a staggering $310 million. According to IntoTheBlock data, when the price of Bitcoin retreated to $54,200 on July 5, the Bitcoin whale address increased its holdings by 71,000 Bitcoins, worth about $4.3 billion.
02 Binance 7th Anniversary
On July 14, Binance turned seven years old. In this early summer, which is regarded as the eve of another bull market, Foresight News sat down with four old friends of Binance, traveled through the corridor of time and space, talked about Binance in their eyes, and those stories that were intertwined with emotion and sighs, or a little proud, and took this opportunity to look back at Binance’s shining moments and development trajectory in the past seven years. Recommended articles:
" Be a companion on the road to "better" | Binance 7th Anniversary Interview "
Sisi: Binance is the real "starting point of my crypto career" for me. Just like Hogwarts in Harry Potter, Binance is my magic school for entering the crypto world, helping me start from a "muggle" and master more new knowledge and skills. In other words, Binance is not just a job for me. I prefer to regard it as a journey full of opportunities and adventures, where I can meet a group of like-minded people and do something meaningful and interesting together.
To this day, my social media profile uses a phrase I like very much: "Always be on the offensive." I look forward to new challenges every day. First, it is a "spur" to myself, and at the same time, I think it is also an effort to fulfill the promise I made to Sister Yi.
As a member of the team, the "Binance moment" in my mind is quite special. It is not a thrilling moment, but the release of the Women's Day poster on March 8 this year. We split BINANCE into Brave, Integrity, Nimble, Authentic, Nurturing, Confident, and Empathetic, showing the power of women from all over the world. This poster is not only a visual expression, but also a spiritual encouragement, which makes me full of confidence and pride in my career choice.
This is He Yi's tenth year in the cryptocurrency industry, and the seventh year since Binance, which she co-founded with CZ, was established. Looking back on the past ten years in the crypto industry, He Yi shared many of her experiences and insights, including her investment philosophy, coin listing values, and industry vision. Recommended articles:
He He Yi: Ten Years of Encryption and My Industry Values
He Yi talked about the real reason why he entered the crypto in the first place. "In 2013, the price of Bitcoin rose to over $1,000, which gave me a great stimulus at the time. (It made me think) what money is and whether the money we think of is money itself. This is the real reason why I entered the crypto."
He Yi also talked about who she thought were the celebrities in the crypto industry when she first entered the crypto. "When I first entered the industry, the most popular (crypto celebrities) were Kaomao, Changjian, etc." Now He Yi herself has become one of the most popular people in the minds of many new entrants to the crypto industry.
Over the past seven years, Binance has encountered many difficulties and setbacks. He Yi shared some of the major difficulties she and Binance have faced and how to deal with them. "Since the first day of Binance's launch, every step has faced endless crises and difficulties. On the first day of Binance's launch, BNB fell 50%. That was the biggest difficult moment CZ faced at the time. If there was no settlement (with US regulators); Amazon Cloud was shut down; APP was shut down from Google, these were also huge difficulties. For us, we just need to solve the problems when we encounter them."
She also expressed her own views and opinions on this round of bull market. "From 2021 to now 2024, this so-called bull market is not driven by innovation, but is actually driven by independent events such as ETFs... Personally, I think that innovation will ultimately drive this industry forward."
03 Industry Insights
Recently, Forbes announced the top ten best performing cryptocurrencies with a market value of more than $1 billion in the first half of 2024. Recommended articles:
《 A quick look at Forbes' top ten tokens for the first half of 2024 》
Including WIF, PEPE, ASI, FLOKI, JASMY, AR, CORE, TON, BGB and BONK. It is worth noting that MEME occupies 4 lists, and 3 of them belong to the Solana ecosystem.
"AI x Crypto" has always been a hot topic of concern to everyone, but how far has this cross-field developed? Recommended articles:
" Grayscale: In the AI era, which crypto projects can thrive? "
Recently, some well-known figures have begun to embrace this emerging cross-field and are committed to solving the shortcomings of centralized artificial intelligence. In March of this year, Emad Mostaque, the founder of the well-known artificial intelligence company Stability AI, left the company to explore decentralized artificial intelligence. He said that "now is the time to make artificial intelligence open and decentralized." Cryptocurrency entrepreneur Erik Vorhees recently launched Venice.ai, a privacy-focused artificial intelligence service with end-to-end encryption.
After almost breaking through the all-time high in the first quarter of 2024, the total market value of cryptocurrencies gave up some of its gains in the second quarter, falling 14.4%. Recommended articles:
" 2024 Crypto Market Q2 Report: Total Market Value Dropped 14.4%, MEME Coin Is the Most Popular "
The total cryptocurrency market value fell by 14.4% in Q2:
- As of Q2 2024, the crypto market cap is $2.43 trillion, lagging behind the S&P 500's 3.9% increase.
- Cryptocurrency volatility remained high in the second quarter, with volatility at 48.2%, BTC at 46.7%, and the S&P 500 at 12.7%.
In order to reduce the ETH staking rate, Ethereum's monetary policy may be adjusted. This article explores the risks and rewards of various staking activities in depth, including re-staking and liquidity re-staking. Recommended articles:
Galaxy : Detailing the Risks and Rewards of Ethereum’s Staking Economy
Liquidity staking, re-staking, and liquidity re-staking pool protocols are not considered in this analysis, as these entities do not directly run the staking infrastructure or fund its use. However, these entities do receive a percentage of the rewards from stakers who use their platform; they are intermediary entities that facilitate the relationship between custodial stakers and professional (or amateur) stakers, and are therefore important players in the Ethereum staking ecosystem. Lido is a liquid staking protocol and is by far the largest staking pool operator on Ethereum, accounting for 29% of ETH staked. Given the adoption and critical role of liquidity staking pools on Ethereum, it is important to understand the risks of liquidity staking.
Is "Web3 data ownership" a false proposition? Multicoin partners and EigenLayer co-founders have this view. Recommended articles:
《 VC and EigenLayer founder debate "data ownership" 》
Kyle Samani, partner at Multicoin: So-called "ownership" is actually about "exclusivity." It sounds important to say that you should own your own data, but when you dig deeper, you'll find that the concept doesn't actually make sense. You can only own things that are naturally exclusive. Data can always be copied infinitely. And assets are scarce.
EigenLayer founder responds to Sreeram Kannan: Why do we need data property rights? The market economy transforms things without property rights into things with property rights. The question is not whether data property rights exist: companies have strong data property rights, but individuals do not actually have them. The emergence of encryption technology is to ensure that individuals can obtain data property rights by reducing the cost of execution.
Bitwise Chief Investment Officer Matt Hougan believes that the inflow of funds into Ethereum ETPs will push prices to a record high by the end of the year.
" Bitwise Chief Investment Officer: ETF's impact on Ethereum will surpass Bitcoin "
Bitcoin has risen about 25% since the Bitcoin ETP was launched on January 11. If we count from October 2023, when the market began to price in the Bitcoin ETP in advance, Bitcoin has risen more than 110%.
Will we see the same impact on Ethereum? Yes, I think the impact will likely be even greater.
When raising funds for crypto projects, founders not only need to attract VCs to invest, but also work with them to develop the right strategy to help the project succeed, one of which is to list the token on the appropriate CEX. If you plan to launch a token, please keep this guide. Recommended articles:
" To Web3 founders: How to get your token listed on mainstream CEX? "
Before we dive in, you must have a competent fundraising plan in place before you can launch your token strategy.
Please ensure that you do the following:
- Create a budget to pay for exchange listing fees (fees will be higher in bull markets) and market maker fees.
- Try to raise funds from venture capital arms of large centralized exchanges (Binance Labs, Coinbase Ventures, OKX_Ventures) to increase your chances of listing.
- Connect with VC/Angel investors who have strong connections in the industry.
04 Project Observation
This week, JOJO announced the completion of its seed round of financing, led by SevenX Ventures.
" JOJO obtains seed round financing to explore new paradigms of on-chain derivatives "
JOJO is a decentralized perpetual contract exchange that is deeply rooted in the Base ecosystem. With an average daily trading volume of over 150 million US dollars, it maintains a leading position in the ecosystem. The daily on-chain transaction volume once reached 15,000 transactions.
The current liquidity structure of the leading on-chain derivatives protocol is relatively closed and non-scalable, which greatly limits the scalability of the protocol. JOJO is the first to introduce Turing-complete smart contract orders, allowing developers to embed any script into orders. This mechanism is compatible with on-chain/off-chain order books and any AMM algorithm, unifying different types of liquidity models.
Through smart contract orders, users can execute strategy orders based on specific logic triggers, such as long on BTC with 5x leverage after BTC drops 5% or long on ETH with 10x leverage when the gas price rises to 20gwei. As a liquidity provider, you can provide liquidity without pre-depositing margin, and automatically transfer the required margin when consuming funds, significantly improving the efficiency of fund use.
JOJO offers up to 1000 times leverage and extremely competitive fees - 0.03% for takers and -0.01% for makers. In contrast, in most centralized exchanges, monthly trading volume must reach $1 billion to enjoy such fee discounts.
Solayer, a rising star project of Solana re-staking, announced on July 2 that it had completed its builder round of financing, with a strong investment lineup.
《 A quick look at Solana’s rising star project Solayer 》
Solayer uses Solana's stakers as validators, providing a high degree of decentralization and security, avoiding the trust risk of centralized service providers or their own tokens. It provides a simple way for decentralized applications (DApps) to create their own AVS LST. These tokens use Solana's native staking income as a basic reward, as well as additional MEV income. DApps can also receive part of the staking commission, and in the future they can also configure the underlying operator for staking delegation.
