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JackYi
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Founder of @LD_Capital， Build @Trend_Research_ ，2015-BTC/ETH
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Signal Clone Analysis
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JackYi
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Following the Ethereum Fusaka upgrade, blob base fees surged by 15 million times. The core reason is the new "minimum guarantee mechanism" for blob fees introduced in EIP-7918. Previously, blob fees had no minimum limit, consistently hovering around 1 wei (almost free), causing nodes to bear costs such as KZG verification without reasonable returns. After the upgrade, blob fees must be at least 1/15.258 of the L1 execution base fee, directly anchoring to real network costs. This design allows prices to reflect actual resource consumption (preventing L2 from occupying network resources for free), regulates blob traffic through price fluctuations to prevent congestion, and increases blob storage capacity through PeerDAS technology. Furthermore, blob fees are incorporated into the ETH burning mechanism, which is estimated to burn up to 8 times more ETH in the future, potentially contributing 30-50% of the total burned amount by 2026 (depending on L2 transaction volume growth).
ETH
1.33%
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JackYi
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Latest ETH Investment Research Thoughts: From Public Chain Infrastructure to the Value Leap of the Global Financial Ecosystem I. Underlying Logic of Public Chains: Platform Thinking Drives Ecosystem Expansion Ethereum's core advantage lies in the platform-based development of its open ecosystem, following the logic of "Internet-style expansion": - Initial focus on L2 expansion: reduce transaction costs and increase throughput through technologies such as Rollup, and quickly gather DeFi, NFT and other ecosystem applications and user base (refer to the Internet thinking of Alipay and WeChat of "traffic first, monetization later"). - Later, it will be able to handle large-scale settlements: After the mainnet TPS (transactions per second) increases, it will gradually take on the large-scale settlement needs of payments, asset transactions, etc., forming a positive cycle of "user growth → ecosystem prosperity → settlement capability upgrade". II. Value Anchoring: A Valuation System Driven by TVL The lower limit of ETH's valuation is determined by the total value locked (TVL) in its ecosystem, and it continues to rise as the ecosystem expands. - Ecosystem stickiness creates profit potential: After users develop usage habits due to the application, the platform can achieve "turnaround" (profit) by slightly increasing transaction fees, while the prosperity of the ecosystem in turn pushes up TVL, consolidating the intrinsic value of ETH. - New trends amplify value boundaries: Tokenization of US stocks and RWA (Real-world asset tokenization, such as real estate and bonds) directly increase the ecosystem's TVL (Total Value Limit) and transaction fee throughput. Based on a 30-year timeframe, if stablecoins reach 3 trillion and RWAs reach 20 trillion, ETH's minimum market capitalization could correspond to a scale of 3 trillion. III. The Evolution of Monetary Attributes: From Payment Instrument to "Monetary Settlement Layer" The use cases for currency always flow to the areas with the largest transaction volume, and the ultimate value of ETH lies in becoming a "settlement layer for currency": - Payment System vs. Monetary System: If ETH is only used as a payment tool, its market capitalization is comparable to SWIFT (lower valuation limit); if its ecosystem corresponds to the global monetary system (covering all scenarios such as payments, assets, and credit), then its value potential is limitless; - Specific needs in the AI ​​era: AI-driven small-amount, rapid settlements (such as computing power transactions and cross-domain micro-payments) require stablecoins (stable prices and efficient execution), and ETH, as the underlying public chain, supports stablecoin issuance, cross-chain settlement, and complex financial logic, becoming the "infrastructure for monetary automation". IV. Beyond Payment: Building a Full-Stack Financial Ecosystem The value of ETH extends far beyond "payments," encompassing a full-stack financial infrastructure that includes asset issuance, banking services, and commercial functions. 1. Asset Issuance and Trading: Supports the tokenization of US stocks and RWA (Real-World Asset On-Chain), realizing standardized issuance, on-chain trading and settlement of assets through smart contracts, breaking down traditional intermediary barriers; 2. Bank-level financial services: - Deposits: Users can earn interest by depositing ETH or stablecoins into DeFi protocols (such as Aave) (decentralized "deposits"); - Lending: You can quickly obtain loans by staking ETH (such as issuing DAI on MakerDAO), without bank review, and the interest rate is adjusted in real time by the algorithm; - Exchange Functionality: Supports decentralized exchanges (DEX) and NFT platforms, enabling autonomous trading and circulation of assets; 3. Empowering the Business Ecosystem: - Payment and Settlement: Global merchants accept ETH/stablecoin payments, cross-border payments arrive in seconds, and the cost is only 1/10 of the traditional SWIFT; - Supply chain finance: Smart contracts automatically complete account verification and loan disbursement (such as trade finance "cash on delivery" which is automatically triggered); - Business Automation: Supports enterprises in building decentralized marketplaces (such as digital art trading platforms) to achieve full-chain automation of "issuance-trading-settlement". V. Open Ecosystem: ETH's Long-Term Competitive Advantage ETH's "openness" is its core barrier to entry, distinguishing it from BTC (a closed system focused on value storage). - Developer-friendly: Supports programming languages ​​such as Solidity, allowing any developer to freely build applications (from finance to games, from social to IoT). - Boundless Scenarios: Embracing emerging trends such as AI and RWA, enabling traditional financial assets (such as stocks and bonds) and emerging digital assets (such as AI computing power and data) to circulate on the blockchain; - Programmable financial logic: Through smart contracts, financial transactions and business logic can be executed in a "coded" manner (such as automatic dividends and automatic liquidation), completely breaking the geographical, time, and intermediary limitations of traditional finance. VI. Future Outlook: From "Financial Operating System" to "Global Settlement Underlying Layer" The essence of ETH's development logic is to upgrade from a "payment network" to a "global financial operating system": - Short term: Reduce transaction costs through L2 expansion and gather users and ecosystem (refer to Amazon's "scale first, profit later" logic); - Mid-term: Promote the tokenization of US stocks, implement RWA, and expand TVL (Total Value Locked) and application scenarios; - Long-term: To become the settlement foundation of the global monetary system in the AI ​​era, covering all scenarios of "payment + assets + finance + commerce", and releasing unlimited value potential. Conclusion ETH's ultimate ambition is to become the "Windows of finance"—when currencies need automated, globalized, and intelligent settlement, the comprehensive functions of its open ecosystem will reshape the global financial ecosystem, and its value space will continue to expand as the ecosystem grows.
DAI
0.04%
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JackYi
12-04
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ETH breaks above $3,200. We've been consistently buying the dip and remain bullish on the upcoming market moves—sometimes it feels like we’re the only ones holding long positions out there, just like last time when dip-buyers were mocked. But as investors, we have to stick to our own logic without blind confidence. When others are fearful, it's time to be greedy. With ETH upgrades and DeFi continuing to grow, it’s still massively undervalued. The key to trend investing is trusting the trend and buying the lows. I get that market sentiment is weak right now, so I’m doing my best to keep everyone’s confidence up.
JackYi
@Jackyi_ld
11-23
ETH2700左右成交，这次彻底满仓了，整体仓位一直遵循三大赛道逻辑，大公链以ETH为主，同时配置BTC/BCH。交易所是BNB/Aster。稳定币重仓是WLFI，WLFI相当于USD1的BNB，而USD1是唯一有机会跨越式弯道超车的稳定币。我们没办法关注太多项目，专注在币圈三大赛道龙头，剩下的交给时间。 x.com/jackyi_ld/stat…
ETH
1.33%
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JackYi
12-03
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While BTC has bounced back to 93k, BCH hit new highs, and WLFI surged and held strong, ETH and the broader crypto market are still lagging behind both equities and the overall bullish macro environment. With another crypto-friendly chair (the Fed) confirmed after the SEC chair, the 60-day crypto bear market may finally be coming to an end. These past 60 days saw a major liquidity crunch triggered by 1011, compounded by the four-year cycle, Japan’s rate hike, and the US government shutdown. But now, all those headwinds have been priced in. With both rate cut expectations and supportive crypto policies on the horizon, I remain bullish on the coming market moves. In crypto, investing always requires not just wisdom, but patience.
JackYi
@Jackyi_ld
11-23
ETH2700左右成交，这次彻底满仓了，整体仓位一直遵循三大赛道逻辑，大公链以ETH为主，同时配置BTC/BCH。交易所是BNB/Aster。稳定币重仓是WLFI，WLFI相当于USD1的BNB，而USD1是唯一有机会跨越式弯道超车的稳定币。我们没办法关注太多项目，专注在币圈三大赛道龙头，剩下的交给时间。 x.com/jackyi_ld/stat…
BTC
0.53%
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JackYi
11-27
ETH is back above $3,000 — the peak fear has passed, and I remain bullish on the trend ahead. In just seven months since April, we’ve seen bottom fishing, top escaping, and another round of buying the dip. One day in crypto feels like ten years in the real world; this market’s wild volatility constantly tests the limits of human greed and fear. It’s a beautiful industry, but also a brutal one — packed with faith and doubt, wisdom and ignorance, light and darkness, hope and despair.
JackYi
@Jackyi_ld
11-23
ETH2700左右成交，这次彻底满仓了，整体仓位一直遵循三大赛道逻辑，大公链以ETH为主，同时配置BTC/BCH。交易所是BNB/Aster。稳定币重仓是WLFI，WLFI相当于USD1的BNB，而USD1是唯一有机会跨越式弯道超车的稳定币。我们没办法关注太多项目，专注在币圈三大赛道龙头，剩下的交给时间。 x.com/jackyi_ld/stat…
ETH
1.33%
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JackYi
11-26
WLFI has surged 50% against the market over the past few days. The rally is driven by growing optimism around the USD1 stablecoin narrative, continuous buybacks from the WLFI team, and a broader rebound in both crypto and US stocks. On the research side, ETH is seeing heavy short positions from major platforms and institutions. If ETH can weather this tough November, we could see a short squeeze play out. Compared to four years ago, ETH is now operating in a completely different environment—stablecoins, ETFs, DAT, and regulatory policies are all much more favorable. In this context, ETH looks seriously undervalued.
JackYi
@Jackyi_ld
11-23
ETH2700左右成交，这次彻底满仓了，整体仓位一直遵循三大赛道逻辑，大公链以ETH为主，同时配置BTC/BCH。交易所是BNB/Aster。稳定币重仓是WLFI，WLFI相当于USD1的BNB，而USD1是唯一有机会跨越式弯道超车的稳定币。我们没办法关注太多项目，专注在币圈三大赛道龙头，剩下的交给时间。 x.com/jackyi_ld/stat…
ETH
1.33%
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JackYi
11-21
Thread
Currently, the situation for US stocks is not optimistic, with a very poor weekly chart, coupled with changing expectations for a December rate cut. The good news, however, is that the US will begin quantitative easing in December, while Japan has already started its own easing program today, and crypto markets often bottom out earlier than expected. The biggest point of divergence may be approaching. Investing and trading are the most difficult things; one must strive to control greed and fear.
Joy Lou
@Joylou1209
11-21
今天盘前SK海力士发布消息，明年10纳米DRAM产量将增至8倍，至此存储的超级周期第一浪结束了。今年美股三大主线，第一大l电力，缺电炒的挖矿股转AIDC的龙一IREN，11月5号发债+发微软大订单，宣告板块结束；第二存储，今天的扩产宣告一浪正式结束；第三谷歌链，最后最强的只有谷歌自己，宏观有问题吧？
LD
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