Author: TechFlow
After much anticipation, the season of shitcoins has finally arrived.
The shitcoin index has broken through 88, a historical high, meaning that 87 out of the top 100 projects have seen a 90-day increase of over Bitcoin. Surprisingly, old coins such as XRP, HBAR, and XLM have seen astounding growth.
This may be a new "Trump trade".
With Trump's victory, the market has begun to position itself for potential policy dividends. The Trump camp has revealed potential policies that could grant U.S. crypto assets capital gains tax exemptions, immediately drawing the attention of traditional capital. In this context, U.S. crypto projects with strong regulatory compliance and traditional institutional backgrounds have become the focus of institutional investors.
In addition to asset eligibility, there must also be appropriate channels to facilitate institutional entry, such as the asset being listed on Coinbase or having a corresponding Grayscale trust product.
According to TechFlow's statistics, the average increase in the assets held by Grayscale trusts over the past 30 days, weighted by market capitalization, has reached 218.27%.
Following this logic, which U.S. compliant assets that are also part of the Grayscale concept will be the focus of attention next?
Perhaps you should keep an eye on Stacks (STX), a leading BTC ecosystem project, as it is one of the only two cryptocurrencies to have passed SEC compliance review and completed a rare Regulation A+ offering, making it one of the few crypto assets approved for public sale to U.S. retail investors.
Furthermore, STX is also a Grayscale concept coin, which can be purchased directly through Grayscale trust products.
Moreover, the current STX is vastly different from a few months ago. After the Nakamoto upgrade, it has become a true BTC Layer2.
Prior to this, Stacks' transaction confirmations required waiting for the BTC mainnet to generate a new block, often taking up to an hour. However, through the "fast block confirmation" mechanism introduced by the Nakamoto upgrade, the transaction confirmation time has now been reduced to just a few minutes, while maintaining the same level of security as the BTC mainnet.
The most groundbreaking development is the upcoming sBTC.
As a decentralized two-way BTC anchoring solution, sBTC aims to make "digital gold" BTC truly programmable. Users can lock BTC on the BTC mainnet and receive an equivalent amount of sBTC on the Stacks network, allowing them to participate in smart contract interactions and implement DeFi, Non-Fungible Token, and other applications.
Given that the current BTC DeFi total value locked (TVL) accounts for less than 1% of the market, Stacks' technological innovations may be the key to activating the entire BTC ecosystem.
Stacks has announced that sBTC will be deployed in two phases. The first phase, scheduled for December 16, 2024, will support BTC deposit functionality; the second phase is expected to be launched 6-8 weeks after the first phase, which will open up BTC withdrawal functionality.
For a new asset, the most important question is who will use it? Therefore, finding application scenarios for the asset becomes crucial. Stacks has established a solid path for sBTC's implementation, building alliances and attracting more institutions to join.
Currently, sBTC has received support from more than 20 well-known institutions, including BitGo and Blockdaemon. For example, BTC ATM operator Coinflip will integrate Stacks and sBTC, and Coinflip currently serves 400,000 customers, allowing them to directly use sBTC for conversion and transactions on BTC ATMs.
Overall, Stacks is paving a path of innovation and practicality for the BTC ecosystem.
