So we are close to a historic event. Bitcoin Halving 4. Many specialized terms. If you are new to the market around the time Bitcoin conquered All-Time-High , you will certainly not know where to get a pulse on the market.
Let's take a look at the Narratives you need to know in 2024 and evaluate Narrative's potential to become a trend in this Bull-run!
What is Narrative Crypto?
If you have just found the phrase "Narrative Crypto" strange, then to make it easier to imagine, you can simply think "Narrative is a story" made up of a series of events and information on the market. market for the crowd to form a belief that it will be an opportunity in the future.
Narrative is a more complex concept than just XEM it as a Trend in the market. In fact, Narrative often appears before a specific Trend explodes.
To gain a deeper understanding of Narrative as well as how to recognize Narratives on the market early, you can refer to our following analysis!
Read more: Narrative Crypto & Narrative insights to hunt odds yourself
The Narrative you need to know in 2024
Liquid Staking & reStaking
Liquid Staking (LSD) is a big narrative that has attracted money from ETH Whales & the community in the period Q1-Q2/2023, because it was developed to solve the Ethereum Staking needs of ETH Stakers after the " Fork" . Shang Hai ” of the Ethereum blockchain takes place.
After depositing assets into Staking protocols, users can participate in activities on the network and receive rewards from the platform. However, this causes users to confine Capital and miss out on opportunities to earn more profits on other DeFi platforms. From there, the Liquid Staking Derivatives initiative was born.
ETH Staking activities have created an additional need to reStaking the ETH amounts being staked on protocols such as Lido Finance, Rocketpool, etc. to get a higher Yield. Currently, you can stake ETH through 3 levels corresponding to 3 rewards Staking native ETH (~5%) + lstETH reStaking (~10%) + lrtETH emissions (~10%) => Then somewhere, brothers Will earn at least ~25% of value through 3 levels of Staking & Farming ETH.
Read more: Extreme Ponzinomic scheme from Liquid Retaked Token (LRT)
This can be attractive to large investors (ETH Whale) to help optimize profits and increase profits. Therefore, in the coming time, you will continue to see many retake models in succession to the Staking layers/layers of LRT => This means that the ponzinomic model will become larger and larger as the demand for ETH Stake increases by the rewards that Staking floors bring.
Currently, EigenLayer is expected by the majority of investors in the market to be a "bomb" this season when the project has raised more than $10B TVL according to data collected on defillama. At the same time, it is the most impressive Capital name in Q1/2024.
In 2024, the current LSD and LRT models are being expanded and developed on many different Blockchains and protocols such as Solana, Aptos, Near,... do you have experience in the DeFi market or Degen ecosystems? You can research through emerging protocols to experience it!
Modular Blockchain
Most blockchains perform all of these functions on the same layer (also known as Monolithic blockchain), typically including Bitcoin . Performing many operations using just one layer can cause frequent congestion on the system.
A monolithic blockchain will optimize its consensus capacity, block space, and execution capacity according to the goals it meets. All these layers of operations are performed on a single floor. Typical examples of Monolithic blockchain projects are Solana , Aptos , Cosmos , Sui ... and most recently Sei .
Read more: What is Modular Blockchain?
Monolithic blockchain and Modular blockchain represent two important approaches in the blockchain world. Monolithic blockchains, like Bitcoin, perform all functions on a single layer, however, this can lead to congestion and limit scalability.
Modular blockchain, on the other hand, Chia the work into 4 separate parts to optimize performance. This helps solve the impossible triangle problem in blockchain, allowing scalability, decentralization, and security to exist simultaneously. Examples such as Ethereum 2.0, Celestia, Polygon Avail, Arbitrum and Optimism have pioneered the adoption of Modular blockchain to enhance performance while ensuring security.
Currently, Celestia plays an important Vai in this model by helping reduce transaction costs by up to 99% compared to Ethereum. Help Celestia become the infrastructure platform for more and more projects in many fields.
Celestia ecosystem overview
Real World Assets
Real World Assets (RWAs) are actual real-world assets tokenized through the creation of Token or Non-Fungible Token. This process is often called Tokenization of RWAs.
In fact, Tokenization can be applied to all types of assets, including all types of forms such as: Real Estate, Gold, Stock Bonds, Cars, Cash,...
In a report by the International Monetary Fund (IMF) , the IMF found that DeFi 's approach to financial markets offers outstanding cost savings, which the RWA team proves to be particularly useful for. general development. As the DeFi sector continues to mature and prove its capabilities, asset owners may wish to represent their assets through RWA to access the improvements in market efficiency and opportunities that DeFi offers. bring.
Real Assets (RWAs) are attracting attention for the following positive reasons:
- Hedging risks from cryptocurrency volatility
- Owning retail opens up new opportunities
- 24/7 liquidation unlocks value
Currently, the TVL of RWAs reaches approximately $4.33 billion USD, according to information from defillama. The infrastructure for RWAs continues to undergo significant adjustments, with many high-quality protocols contributing to this evolution.
You can read more about RWA here: What is RWA? Is it a solution to attract Capital from the traditional financial market?
Memecoin
Memecoin is a cryptocurrency created and developed based on popular cultural images and messages in cyberspace. Memecoins often have names and symbols related to a famous meme or iconic joke, issued through blockchain protocols.
Many of the “memecoin” Token have no solid technical foundation nor actual products or applications, which would logically cause their value to steadily decline over time. However, many traditional investors have misjudged the power of the community. Because of their super low initial value, meme coins quickly attracted attention from the market and grew tremendously.
In the early part of 2023, PEPE The Frog ($ PEPE) or ArbDoge AI ($AIDOGE) are the latest names to join the "meme coin" group, recording huge growth rates of up to tens of thousands of percent since their inception. debut.
In Q1/2024, the Memecoin wave returned strongly right after Bitcoin conquered the new peak of its era (ATH). The actions of market-making organizations such as the Top1 exchange - Binance still show their interest. special focus for Memecoin when capturing the trend of listing more $BOME a memecoin with a hundredfold growth on the Solana ecosystem.
On March 23, Bakeryswap - a famous AMM & Launchpad of Binance successfully raised more than $280M for the BigPump ($PUMP) meme project on Bakeryswap in just 24 hours with more than 1M wallet addresses. Use to participate on BNB Chain.
This reflects the current community's demand and interest in memecoin.
summary
Recently, there are major Narratives in 2024 as well as comments on Narratives that will continue to make waves in the year of Bitcoin Halving 2024.
In the next part, we will provide you with additional comments on other important Narratives with the ability to lead the entire market similar to the trends of DeFi, Metaverse,... last season.
