Most of the recent market hotspots are essentially an extension of the Ethereum pan-income narrative, such as LSD heavy collateralization.
Author: Frank, Foresight News
Graphics: Kiet, Foresight News
Note: "Weekly Hot Search" statistics are based on user search results from Foresight News from last Friday to this Friday (January 19th to January 25th), and the capitalization of the same concept has been merged.
"OKX" topped the hot search list this week, mainly due to the mishap in OKB's market—around 17:00 on January 23rd, OKB plummeted by about 50% in two minutes, reaching as low as 25.1 USDT, shocking the entire market.
Subsequently, OKX officially stated that it was due to the successive triggering of multiple large leveraged positions being liquidated, coupled with market impact causing the coin price to fall. This process further triggered the liquidation of collateralized borrowing, leveraged trading, and cross-currency trading, ultimately leading to the price plummeting to 25.1 USDT in a short period of time.
At the time of the announcement, OKX stated that it had adjusted the relevant risk parameters and would airdrop compensation in USDT form to eligible users affected by the abnormal fluctuations before February 1st.
"AltLayer" as the new "airdrop" leader, opened airdrop applications and launched on the exchange this week, with an opening price of around 0.3 USDT, which can be considered a small victory for the recent Binance Launchpool.
In fact, last week, there was a discussion in the community about the legitimacy of Ethereum DA, which gradually involved related leading projects such as "EigenLayer" and "Manta", and the recent projects and tokens near the market hotspots, such as TIA, EigenLayer, and the latest AltLayer, are essentially extensions of the Ethereum pan-income narrative involving DA & modularization and LSD heavy collateralization.
Especially with the anticipation of the point-based airdrop stimulus initiated by "Blast", it has almost become a new standard for the next round of land grabbing wars for funds, and subsequent nesting through EigenLayer is expected to become a small trend.
Just this morning, the LSD protocol Puffer Finance also announced that it will open the collateralization of ETH, stETH, USDT, and USDC next week, and users will simultaneously receive Puffer and EigenLayer point rewards. The new developments in this track are particularly worth paying attention to.
In addition, Manta's heat has declined this week, but with the expected strategy of earning points through collateralization, the TVL has nearly doubled compared to January 18th, and the token price has soared in a straight line.
"Sui" has recently continued to improve, ushering in its own era, although SUI's secondary market price broke through 1.4 USDT to set a recent high last week and did not continue to rise, it has remained in the range of 1.1 to 1.3 US dollars.
At the same time, Sui's on-chain TVL continues to rise, reaching a historical high of over 3.5 billion US dollars, and Sui's TVL leader project Cetus has also been squeezed to third place by the "newcomers" Scallop and NAVI, which is a more reassuring signal compared to the price increase.
With the simultaneous rise in market value and TVL, coupled with emerging hotspots and community activity, Sui's performance in the coming year is also particularly worth paying attention to.
"Bitget" appointed Vugar Usi Zade, who has held senior positions at well-known companies such as Facebook, Danone, Carlsberg, Sony, and BeInCrypto, as the Chief Operating Officer (COO) earlier this month, responsible for global business growth and strategic expansion.
Foresight News also conducted a special interview with Vugar Usi Zade, gaining insights into Bitget's vision and layout for 2024 and globalization (recommended reading: "Interview with Bitget's New COO Vugar Usi Zade: Bitget's 2024 and Globalization, No Boundaries").
"Grayscale" continued to play the role of the main culprit in the market downturn this week—latest data shows that the cumulative net outflow of GBTC has reached 4.79 billion US dollars, and it still holds a net asset of 200.28 billion US dollars, indicating that the selling pressure may still be difficult to fully absorb before the end of the year.
However, after the Grayscale GBTC Trust successfully transitioned to a spot Bitcoin "ETF" on January 11th, it began to cause continuous BTC selling pressure—up to the time of the announcement, GBTC has already seen a net outflow of 3.45 billion US dollars. In addition to GBTC, the other 10 ETFs are in a net inflow state, and on "1·23" day, Bitcoin also briefly fell to 39,000 USDT, entering a technical bear market zone (recommended reading: "Falling into a Technical Bear Market on '1·23', Can the Crypto Market Escape the 'TradFi Curse'?").
Looking back now, Grayscale, which was once seen as the "bull market engine" driving off-exchange incremental funds in 2020, not only no longer works in the current environment, but has become a potential risk point that could trigger an industry tsunami at any time.
"ONDO" as an old project in the RWA transformation track, forcefully entered the market's field of vision last week due to the sudden listing on Coinbase's spot and the launch of contracts on Binance.
At the same time, there have been numerous suspicions and doubts about the team's alleged "open" token sales on-chain, especially since January 22nd, with a cumulative suspected sale of over 100 million tokens, and the timing of the sales coinciding with the price decline. However, the team has not yet made a public response to this as of the time of the announcement.
The privacy email system "Dmail" also announced details of the DMAIL airdrop, with a total of 200 million tokens, 6% of which will be used for the airdrop, and it will officially launch on OKX Jumpstart tonight.
"Aleo" has now completed the third phase of testing for Testnet Three, and has obtained a list of bugs from six audits and two bounty programs, and is expected to launch the mainnet in a few weeks.
In this week's Mirror hot search list, "Manta", "airdrop", and internal hot search linkage, new appearances such as "TFSC" and "BEVM" are also old projects. As for the author list, the proportion of airdrop tutorial-related content has increased significantly:
1.0x09f1 (airdrop tutorial)
2.Poo singh (airdrop tutorial)
3.xiaokeai (airdrop tutorial)
4.Waxifa (airdrop tutorial)
5.axxx.eth (airdrop tutorial)
6.0xf973 (airdrop tutorial)
7.Andrey (airdrop tutorial)
8.0xbD08 (airdrop tutorial)
9.hejunqiu (industry observation)
10.shrimpwen.eth (industry observation)
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