1. There are no major fluctuations in the market. In the absence of liquidity, the overall market remains volatile. Let me briefly say a few words.
Tesla announced yesterday that it would add Bitcoin back to its official website payment code, which brought a glimmer of hope to the market. In the last round of bull market, Tesla put the words "DOGE" into the original code of its payment page. Finally, under the intervention of the board of directors, the payment method for car purchases was cancelled and only used to purchase peripheral goods. Whether it is speculation or development, this is good news for the market. Last night, the market sprinted upward under the influence of this news, but the upper short pressure was large. After the surge, it fell back again. At this stage, it continues to fluctuate above 29,400. The market still has no clear direction, but some cottages continue to be restless. After all, the space gap between the two is too large. As long as the big cake does not collapse completely, many cottages have a large safety space.
2. Many altcoins have performed well recently. Let’s take a look at our operations:
1. First, let’s talk about OP
Initially, our first choice for ambush was OP. The entry position of 1.24 was still very good. The highest was 1.64. We did not think of selling even though we gained 30%. The entry point + subsequent narrative hype gave us confidence to hold on. We still have a 20% gain! Those who did not get it should not be discouraged. The Cancun upgrade in the second half of the year is good for L2 currencies. Those who did not ambush can wait for the callback and then ambush. It has been mentioned many times in previous articles. If you read the articles carefully, I believe you can also get this wave of gains.
2. Next, let’s talk about the link that skyrocketed yesterday
Yesterday, Bitcoin fell, but $LINK was not affected at all. Instead, it soared. We reminded everyone to ambush LINK when it was around 7. The highest increase was 8.3. We also made a lot of profit from this increase. The current return is also over 65%.
$LINK currently has a total market value of more than $8 billion. Layerzero was valued at $3 billion during its financing. As the leader of oracle machines, Link should be valued much higher than cross-chain projects. If this is used as a benchmark, the current price may not have fully priced in the benefits of CCIP.
The current 2.0 version of the economic model adds a staking scenario based on the payment token, which better captures the value of the protocol while increasing security. The long-term goal is to see 9, so those who haven't eaten it don't need to be too anxious, and you can choose to ambush after the callback.
3. Finally, let’s talk about the RNDT coin
RNDT is also our exclusive password, and its growth rate is relatively stable. RDNT is built on LayerZero, which is an interoperability protocol that allows multiple blockchains to communicate with each other. At the same time, Binance also announced a $10 million investment yesterday. July 24 is the first anniversary of RDNT, and DEV UPDATES will be launched for the mainnet release, and then the explosive pull mode will begin, with a profit of 15%.
3. If there is a narrative in the second half, it may be L2 driven by Ethereum Cancun upgrade
There is no large inflow of funds into the current crypto market and liquidity is relatively poor, so the market is relatively depressed.
Although there is no new narrative in the circle, it does not mean that there will be no hot spots in the second half of the year. At present, the mainstream view in the crypto market is that the most likely sector to be driven by the Ethereum "Cancun Upgrade" in the second half of this year is L2.
Bitcoin halving will be around April next year, and its hype is a continuous process, not so fast. So it is understandable that L2 attracts attention, and more importantly, there are indeed many star projects in L2 that are about to emerge.
The "Cancun Upgrade" is an additional upgrade to the ETH blockchain after the "Shanghai Upgrade". By then, the speed of L2 may increase by 10 times, 100 times or even higher, and the cost will be lower. With the "Cancun Upgrade" approaching, time and opportunities are running out for other L2 networks. Many L2 projects may be launched intensively in the second half of the year, which may trigger a wave of hype.
In the L2 technical route, Op Rollups players Arbitrum and Optimism have taken absolute dominance in the market early on by virtue of their first-mover advantage, and their airdrops have triggered a wave of market hype about the L2 track.
After the launch of a bunch of Zk Rollups networks, the future L2 market will have more room for imagination and more star projects. As two of the "Four Heavenly Kings" of L2, zkSync and Starknet have already run their main networks and are very popular, but they have not yet issued their own tokens.
There are also Linea launched by Consensys, Base launched by Coinbase, and Mantle Network; Scroll, which will be launched in August or later, and Shibarium launched by Shiba Inu.
At present, the main narrative about Zk Rollup has basically taken shape. For many new L2 projects, their current technology is no longer under pressure to launch on the mainnet, especially for projects like starknet and scroll, which have experienced at least two years of technical accumulation. Therefore, the most important thing in the future is to quickly expand the user base.
The current situation is that general-purpose zk Rollup has not yet issued a coin. In the future, the competition in L2 is likely to no longer focus on technical advantages and disadvantages, but on who can acquire more user groups. Issuing coins to attract traffic is the best way to acquire customers, and issuing coins requires a main network first. Therefore, it is necessary to launch the main network as soon as possible before the "Cancun Upgrade". The earlier the token is issued, the more market share the project can occupy.
Therefore, in the second half of the year, we will most likely see many L2s going online on the mainnet, launching airdrops, and then leading the market in a wave of hype about new hot spots.
Judging from the L2 networks that have announced their mainnet launches, the second half of the year is likely to be the stage for Zk Rollups. Stimulated by the token airdrop incentives of Optimism, Arbitrum, etc. in the first half of this year, the Layer2 track has become a mainstream crypto narrative field that users are looking forward to. In the second half of the year, L2 projects including ZkSync, StarkNet, Base, etc. can also be expected to issue token airdrops.
What we can do is to participate in the early testing of these L2s in advance, complete their interactions, and get good returns if we can get airdrops. In addition, the ecological projects on these L2 public chains are also worth participating in and early layout.
Today’s article ends here. If you think it’s well written, you can click to follow and read~