📝 Major L1 & L2 Trends to Watch Lately
1. BNB
- They have sown an unusually large number of seeds in prediction markets, but the biggest deficit among them appears to be PredicFund.
- Excluding PredicFund, the places catching my eye are Perp DEX and Hertzflow, where they are following all the Binance personnel.
- The growth of U, which is being pushed by both BNB and Tron, is also notable.
- Given the current situation, they are supporting USD1, but it seems they are also growing their own assets as a countermeasure.
2. Solana
- Recently recruited Seraphim, who led the early growth of Ethena.
- Seraphim is expected to support the growth of the stablecoin + RWA Perp.
- Judging by the tweets exchanged, it looks like Securitize will also join in.
- Currently, projects to watch include Perena, Bulk, and Phoenix.
3. Hyperliquid
- The undisputed king.
- The pie continues to grow due to the success of HIP3 and the collapse of latecomers.
- In comparison, there aren't many specific sources of revenue for the ecosystem, but Nova I'm only keeping a close eye on Markets
- Nova Market is a project that helps the community share in the success of the HIP3 market.
4. Base
- I think Base might be the only token launch capable of completely overturning the current market sentiment.
- The ecosystem feels like it has shifted its focus from social to DeFi -> They have recently been distributing quite a few DeFi incentives.
- Among those without tokens, Glider seems to be the most worthwhile for point farming (though it is noisy if you look at the projects scheduled for launch).
5. Sui
- Launched stablecoins like suiUSDe and USDsui.
- Given their track record of successful in-house development, it seems they are now preparing their own BTCfi.
- Recently launched Current Market, a lending service targeting RWA and yield-bearing stablecoins.
5. Emerging Ecosystems
- X layer: News is circulating about the reconstruction of X layer, which collapsed along with Polygon CDK. I think they might gain momentum as this coincides with news related to the NYSE.
- Ink: Kraken, which has partnered with Nasdaq similarly to OKX. Given that OKB is the benchmark at 1.7 billion, I think it will likely go up quite a bit to match the price.
✍️ Although the market remains uninteresting and swayed only by macro news, I am continuing to follow up on the major ecosystems.
Personally, I think it might be Solana's turn to show its potential again after being suppressed for a while. Also, if Base, Ink, and X layer—which are deeply connected to Tradfi—all release their tokens in the future, I think the competitive relationship between the three will be interesting.