Since entering October, the market has seen another wave of rebound. At the time of writing this article, the price of Bitcoin has just broken through US$28,000, and the price of Ethereum has exceeded US$1,700. Many other potential currencies have also seen a significant rebound. It seems that the market has suddenly regained popularity!
If we look at the historical returns of Bitcoin, we can also find that in all the past years, October is also one of the best performing months in the crypto market, as shown in the figure below.
According to statistics from the CoinGlass data website: Since 2011, the cumulative increase of Bitcoin has exceeded 20,000,000%, far exceeding the cumulative increase of 541% and 282% of the Nasdaq 100 Index and the US large-cap index respectively. If calculated on an annualized basis, Bitcoin's return rate is 230%, which is 10 times higher than the second best performing asset class, the Nasdaq 100 Index. During the same period, the annualized return rate of US large-cap stocks was 14%, high-yield bonds rose 5.4%, and the return rate of gold was 1.5%.
Of course, a rebound does not mean that a bull market is coming! As far as the current overall market is concerned, we may still be some distance away from a real bull market, and we need to continue to wait patiently. But waiting does not mean doing nothing. In addition to reading Hualihuawai’s articles when you have free time, if you want to get excess returns in the bull market, now is still the best time for you to take action.
For example, during a bear market, some people may choose to participate in some DeFi staking to obtain relatively stable APY income. Some people may look for and study TGE projects, hoping to get airdrops when new projects are officially launched, or to buy in at a relatively low price for profit. Some people may accumulate coins by investing in Bitcoin and Ethereum, and then patiently wait for the bull market to come. And so on.
Since October is historically a relatively good month, today we will continue to sort out the projects for you and see which projects are worthy of our attention in the near future.
The following projects are mainly based on the Arbitrum ecosystem:
The first project is GMX
Although the MC of GMX is already relatively high, judging from its current price, it seems that there is still room and momentum for growth. It is said that GMX may receive a very large grant from the ARB Foundation next. In addition to this possible grant, we should also know that almost half of the projects on Arbitrum are currently built on GMX (mainly on v1).
Therefore, these driving factors may have some direct or indirect benefits for GMX. Moreover, from the simple trend chart of GMX in the past, the current position of $42 should also be a relatively safe position and choice in the long run.
The second project is Gains Network
GNS is currently priced at $3.5, which is also a relatively safe choice in the long run. As mentioned above, with GMX, more and more protocols are being built on Gains, so Gains will also benefit directly or indirectly.
The third project is Vertex
In addition to the above two projects, another Perp DEX worth mentioning is Vertex (VRTX). Vertex has planned to decentralize governance and provide additional utility by issuing governance tokens VRTX. However, there may be fewer people participating in this project at present, and if you are an active trader, it may make sense for you to get airdrops from Vertex.
The fourth project is Realm Anima
Not many people may know about the Realm project. It is a P2E game project. This project is relatively new and currently has only $100,000 in MC (market value). As a metaverse game project on Arbitrum, I estimate that Realm will also receive some funding from the foundation in the future.
But it should be noted that it is not easy to buy the token (ANIMA) of this project, and I checked the magic-anima LP, which has 140,000 USD liquidity (but its current MC is 100,000 MC, haha). Moreover, I did not find any detailed information about its token economics, supply, etc. from Realm's official website. But I have to say that the RR (Risk Return) of this kind of project does look very high at the moment.
The fifth project is Tales of Elleria
This is a game project similar to TreseareDao (MAGIC), and the current MC is only $300,000. Although the Bridge contract of this project was exploited by hackers in April this year and 5,000,000,000 ELM tokens were minted, the official handling of this matter was relatively timely.
Another thing worth mentioning is that currently, in MagicSwap, the yield of MAGIC-ELM is relatively high, with an APY of 14.18%, as shown in the figure below.
The sixth project is Magpie
MagpieXYZ is a multi-chain DeFi platform that mainly provides Yield & Tokenomics services. Currently supported projects include the more familiar Wombat Exchange, Pendle, Radiant Capital, and Camelot.
The seventh project is Jones DAO
Jones DAO is a decentralized yield, strategy, and liquidity protocol with a Vault product feature that allows users to access institutional-grade strategies with one click. These strategies are designed to unlock liquidity and capital efficiency for DeFi through yield-generating tokens.
The 8th project is Umami Finance
Umami is built on GMX and provides a risk-hedged real-income pool for crypto assets such as USDC, BTC, and ETH. In February of this year, the project was questioned because the CEO of Umami sold his UMAMI tokens, and UMAMI has been falling all the way to the current position of $5. Although there is no upward momentum for the project at present, it can obtain market-leading GLP yields in the automatic compounding vault through simplified single asset risk configuration, which is still attractive.
In addition to the above projects, there are actually many other projects in the ARB ecosystem that have certain potential and have not yet been listed on CEX, such as Lodestar (LODE, MC is US$500,000), Archi (ARCHI, MC is US$2 million), UniDex (UNIDX, MC is US$7 million), Savvy (SVY, MC is US$500,000), etc.
Well, that’s all for today’s post on “Hua Li Hua Wai”. Let’s summarize and review it together. This article briefly introduces some recent projects in the Arbitrum ecosystem that are worth paying attention to, including GMX, GNS, VRTX, ANIMA, ELM, MGP, JONES, UMAMI, etc.
I hope today's sharing can be helpful to everyone. If you have any questions related to the blockchain field, you can ask questions or leave a message on the planet, and we can discuss together.
Special thanks to: Beacon_Early, 0xTHades, Senka (cover design)
Disclaimer: The above content is only a personal point of view and analysis, and is only for the purpose of popular science learning and communication among the majority of enthusiasts. It does not constitute any investment advice. Investment is risky, please treat it rationally, improve risk awareness, and abide by the relevant laws and regulations of the country and region where you are located!
