Chainfeeds Summary:
Crypto researcher 0xLoki believes that this year's on-chain meme coins are essentially a new way of asset issuance, and on-chain meme coins and AI are the absolute main tracks. He analyzes the relevant ecosystems and projects worth paying attention to.
Source:
https://x.com/Loki_Zeng/status/1861640581489008958
Author:
0xLoki
Viewpoint:
0xLoki: This year's on-chain meme coins are very different from the past, they have gone beyond the concept of "shitcoin", corresponding to the DeFi concept of 2020, and are essentially a new way of asset issuance, where all infra and services must depend on asset issuance, the left-wing route of asset issuance is on-chain meme coins, and the right-wing route is RWA and VCcoin. The left-wing route is a kind of overall opportunity, while the right-wing route is more of a structural opportunity, such as the revival trend of DeFi, the evil axis of ENA+Sky+Morpho, and the obvious business growth of old protocols like Curve and AAVE; there are also some structural opportunities in BTCfi, CeDefi, and Payfi. So I still don't look optimistic about ETH, and at the moment ETH can only carry the side narrative. It is very likely that the ETH exchange rate will not be able to outperform BTC, will not be able to outperform Solana in the middle, and will not be able to outperform DeFi blue chips at the bottom. Bittensor ecosystem: I recommend Vitalik's recent interview, which has nothing to do with ETH but some of the ideas in it are very interesting, including the authoritarian monopolization of AI and the future thinking of AI symbiosis, and the big Beta of on-chain meme coins is undoubtedly ACT, the Beta answer of the Alts sector is also very clear, Crypto AI can only be deAI or Fair AI, so Bittensor＞＞Worldcoin. It is worth mentioning that last week the media reported that the most likely candidate for the new chairman of the SEC is Teresa Goody Guillén, a partner and co-head of the blockchain team at the law firm BakerHostetler, and she is also the legal partner of Bittensor's first subnet Masa, and since the news came out a week ago, MASA has risen about 30% while BTC has pulled back. Near ecosystem: At the beginning of this year, when Solana on-chain meme coins were just heating up, Near's on-chain meme coins also quickly caught up, producing Black Dragon and Yilong as targets. But for a period of time afterwards, on-chain meme coins and AI were lukewarm. Now the wind of on-chain meme coins and AI has finally picked up, blowing to Solana, Base, SUI, and BNBChain, but the Near players have had weeds three meters high on their graves. However, the good news is that there is a metaphysical theorem, from DeFi to X2E, to Non-Fungible Tokens and Inscription, Near is always able to catch the last train and eat the last hot bite, but the public chains that are later than Near basically can't catch up with anything. Near is the kind of thing that eats but arrives late, and is also capable of causing trouble and has a certain scope. I just took a look, and the on-chain meme coin Black Dragon with three-meter-high weeds and the Inscription Neat with five-meter-high weeds still have $7m and very good exit liquidity.
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