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The recent BTC market is also equally hot, stabilizing at around 70,000 in the horizontal market, and then continuing to align with the previous 83,000. Bitcoin halving is not only an episode in the history of digital finance, but also a key event at the core of the original cryptocurrency value proposal. Every time Bitcoin halves, it will have an impact on the entire cryptocurrency ecosystem, reshape market dynamics and investor sentiment, increase Bitcoin's popularity and adoption, and promote discussions related to blockchain technology, Bitcoin network dynamics, and crypto assets.
TON (The Open Network)
The Open Network (TON) originated from the transformation of the Telegram Open Network blockchain platform. The project was initially launched by Telegram in 2017 but was suspended due to setbacks from charges by the U.S. Securities and Exchange Commission. However, the Telegram community took the initiative to change the network name to The Open Network (TON) and continued its development and ecosystem growth. Although Telegram withdrew from the development of the TON network, it is still expected to receive a lot of traffic through its association with Telegram. In addition, Telegram bots pave the way for a paradigm shift in user experience from Web 2 applications to Web 3.
TON's latest trading price is $7.0, up 9% in 24 hours. Prior to this, TON experienced a two-week league pilot season, during which its TVL (total locked value) increased by 70% and its daily active wallets increased by 370%. This official season is even more exciting. TON's price rose by more than 30% at the beginning of the season, and the reward value exceeded $200 million. At the Web3 Conference in Hong Kong, TON once again emphasized its unique advantages in the social field.
TAO (Bittensor)
Bittensor is an open source protocol designed to support decentralized, blockchain-based machine learning networks. In TAO, machine learning models are trained collaboratively and rewarded based on the value of the information they provide to the entire network. In addition, TAO allows external users to access the network and extract information based on their own needs.
TAO last traded at $645.2, up 4% in 24 hours! Bittensor is essentially a language for writing many decentralized commodity markets, or “subnets,” under a unified token system. These different markets run through Bittensor’s blockchain, allowing them to interact with each other and join a single computing infrastructure. In short, Bittensor introduces an abstract type similar to Ethereum for executing decentralized contracts, but also introduces the reverse innovation of Bitcoin — digital markets. Bittensor’s vision is to create a self-sustaining machine learning ecosystem and facilitate the development and application of AI models. This vision lays the foundation for innovation and practical applications in the field of artificial intelligence.
UNI (Uniswap)
UNI is the protocol governance token of Uniswap, with a total issuance of 1 billion. Uniswap is an Ethereum-based protocol designed to facilitate automatic exchange transactions between Ethereum (ETH) and ERC20 tokens, providing automatic liquidity on Ethereum. Uniswap is fully deployed on the blockchain and can be used by any individual user who has installed a decentralized wallet software.
On Wednesday, decentralized cryptocurrency exchange Uniswap disclosed that it had received a notice from the U.S. Securities and Exchange Commission (SEC) stating that it would face enforcement action. As soon as the news came out, Uniswap's native token UNI immediately fell 9.5%. UNI's latest trading price was $9.28, a 17% drop in 24 hours!
Uniswap Labs, based in the United States, created the Uniswap protocol, bringing unprecedented innovations to the market. These innovations are based on open source code, so users can directly participate in market transactions without any middlemen under the premise of self-custody of their assets.
Uniswap Labs believes that its product is not only legal but also transformative. By reducing the involvement of middlemen and establishing a transparent and verifiable market, they empower the global public to participate in the global economy cheaply and easily.
ORDI (Ordinals)
ORDI is the first token created using the BRC-20 alternative token standard on the BTC blockchain. The introduction of Ordinals not only diversifies the use of Bitcoin, but also sparks a debate about the fundamental nature of Bitcoin. While some traditionalists argue for Bitcoin’s original purpose as a payment system, a growing number of people see these developments as a natural evolution of the network’s capabilities, providing a new way for creativity and financial opportunity.
ORDI's latest trading price is $71.81, up 11% in 24 hours. There are only 8 days left until the Bitcoin halving. According to data, Ordinals has generated more than $458 million in network fees for Bitcoin miners. By storing diverse data types on-chain at a relatively low cost, the Ordinals protocol has proven to be a legitimate disruptor in the NFT space. It challenges the pre-rendering that can be achieved on the Bitcoin blockchain and expands its practicality beyond simple currency transactions.
ENA (Ethena)
Ethena is an Ethereum-based synthetic dollar protocol that aims to provide crypto-native solutions for currencies that do not rely on the infrastructure of the traditional banking system, as well as globally accessible dollar-denominated savings tools - "Internet bonds". Ethena tokenizes ETH's "Delta-neutral" arbitrage transactions by issuing stable coins representing Delta-neutral values.
ENA last traded at $1.46, up 5.7% in 24 hours. Their stablecoin USDe also collects arbitrage income, so they claim it's an internet bond that provides native income from the internet. In terms of an honest solution to the decentralized dollar problem, I think this is a very interesting project and Ethena is an industry leader. They came up with a clever mechanism to pass on "crypto-native benefits" to users while keeping the stable coin reasonably decentralized.
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