Looking back on March, it was a wild ride. We witnessed the global banking blue swan, Bitcoin’s 50% surge, and finally the “wen Arbitrum airdrop”…
With the arrival of April, the story is far from over. In the first four days, many shocking events have occurred. We've seen countless generations of bees being launched, and governance crises capable of transcending romantic comedies.
By crypto narratives, we mean trending ideas, stories, or beliefs that influence how people think about and value cryptocurrencies. Many KOLs mentioned that this is not unreasonable. These narratives can affect investor sentiment, market trends and the adoption of new technologies.
So in addition to the previously mentioned Hong Kong sector (CFX, ACH, LINA), Shanghai upgrade (ETH, SD, FXS, SSV, LADO), Arbitrum sector (ARB, MAGIC, RDNT), Layer2 sector (IMX, INJ), MEME sector (DOGE, AKITA), what other crypto narratives will there be in 2023?
5 Crypto Narratives to Watch in April
Decision
Arbitrum's governance is a mess right now, so this could be a controversial choice as projects like Treasure DAO and Plutus DAO (with high voting rights) are against the AIP-1 proposal, which could make them popular in the community .
$ARB was infused with over $1 billion in free money...yes, free money, and as the ecosystem cools down, there will likely be some noteworthy projects, including new launches.
Which projects to watch: $ARB, $PLS, $GMX, $GRAIL, $MAGIC, $PENDLE, $LODE, with Pepe Games, Sparta Dex, and Wombat Exchange coming soon.
Bitcoin
In the past 20 days, BTC has shown a pattern of re-acquisition, with every drop being bought quickly and the trading volume is also large. This pattern suggests that the market may have gone through the final stages of consolidation, and according to trader and cryptocurrency analyst Jackis, this re-accumulation pattern suggests that the market is preparing to break above $30,000 by the end of the week. Furthermore, to analysts, the market now appears to have reached a point where "there is no further room for prices to fall" and liquidity is building above current levels.
Concentrate liquidity
Forks, decentralized exchanges…take your pick. The Uniswap V3 license has expired, which will open up the code to be freely forked by novice developers.
The race between centralized liquidity exchanges and optimizers has begun, with teams working hard to launch the next generation of liquidity management tools.
$JOE has been performing extremely well over the past few weeks, and with the upcoming launch of “Auto-Pools” it will likely continue to dominate. This is a one-click income farm built on a liquidity book.
$STEAK is the leading optimizer for $JOE and thus may follow its PA, while $GAMMA and $PILOT are other optimizers that perform well.
$HERMES and $MAIA are two potential sleeping giants, as $MAIA launched the first Uni V3 AMM on Metis and will be released on Arbitrum. $HERMES V2 upgrade includes improved token economic model and TALOS.
$ICE, aka Popsicle Finance, is an unknown as we know the reach of Frog Nation and Dani’s tweets.
Items to watch: $LIT.
The Hong Kong Web 3 Festival will be held from April 12th to 15th, so there may be some action in Chinese/Asian coins. Filecoin and Near Protocol will host panels, and Microsoft will host an AI talk.
By the way, Hong Kong will become a crypto-friendly city on June 1st.
Items to pay attention to: $FIL, $NEAR, $CFX, $ABC, $KAS, $KEY.
MEME section DOGE
Doge Day started earlier this year as Elon changed his Twitter icon yesterday. It's officially April 20th and we can expect plenty of volatility and $DOGE memes throughout the month.
Dogechain as an ecosystem may even bid like other dog-friendly tokens.
Points to watch: $DOGE, $DC, $SHIB, $FLOKI
Shanghai upgrade
$LDO, $FXS and $RPL are all the big names here, with $RPL’s Goerli testnet set to launch at some stage this month and $FXS V3 being teased on crypto Twitter.
What to Watch: $BTRFLY, $YFI, $USH, $ZERO, and $ACID are all popular games, and $PENDLE is a chance to make some serious money in the LSD pool.
And some other ideas worth paying attention to:
$OP - Optimistic Bedrock Upgrade
$THE - Thenas Fusion upgrade
$PLS - Plutus DAO token economics upgrade
$AURA - Aura Finance goes live on Arbitrum
$SNX - Synthetix distributes $OP rewards on $KWENTA
What other crypto narratives are there in 2023?
Artificial intelligence (AI) has experienced significant growth over the past two years. ChatGPT has been in the spotlight since November 2022, while the growing competition between Google and Microsoft, with Microsoft's $1 billion investment in OpenAI and Google's release of its chatbot Bard both causing extreme excitement in the AI cryptocurrency market There is huge interest and its price is on an upward trend.
AI Tokens are digital currencies designed to support artificial intelligence-based projects such as distributed artificial intelligence markets, artificial intelligence-based portfolio management platforms, prediction platforms, image generation, and more.
Highlights: $FET, $GRT, $AGIX
Fetch.ai (CCC:FET-USD) has been around since 2017 and launched on Binance in 2019. The premise of the project is to automate various tasks using AI and project datasets. Recently, Fetch.ai has been in the spotlight for using its technology to automate everyday tasks. The popularity of ChatGPT has reignited artificial intelligence (AI) hype, helping a large portion of Fetch.ai (FET) holders remain profitable.
The Graph (CCC:GRT-USD) is essentially trying to replicate Google’s search functionality as a centralized repository for websites. Graph searches blockchains and stores their respective data so that users can query said blockchains.
SingularityNET (CCC: AGIX-USD) is a place where publishers can upload their AI-based decentralized applications and buyers can purchase them. In fact, entrepreneurs have long been creating market platforms. But given that AI is so new, it’s a compelling opportunity.