With the Dencun upgrade behind us and the recent transaction action on $SOL, the beginning stages of the LAYER 1 (base layer) race are probably over. The next part of the race is the race for real adoption.
I see 3 contenders in the main race:
1. $SOL - fast, cheap, has network effects, vc trusted, found PMF, large existing base.
2. $BASE - fast, cheap, has Coinbase 10m+ user base, trusted by VC's, settles to trusted ETH.
3. $TON - 900m Telegram users, largest access to real user base in crypto, well funded, huge silent backers.
My dark horses here;
4. $AR - the new tech is revolutionary and does actually solve blockchain issues now they need to actually get users.
5. $SUI - really great tech, easy to use, well funded - can they get users ?
Altcoin bull markets usually experience 7+ major corrections (20%+). Each correction usually ends a froth and narrative cycle and ignites a capital rotation.
IF this dip becomes a major correction (20%+) and doesn't recover quickly, it could flush some of the old narratives that have had a great run eg. $SOL memes and capital could rotate into new set of narratives that have not run as hard.
If you are narrative trading/investing you should use the dips to identify the narratives that may lead the next leg.
Some of my bets here are that we will see rotations into;
$SUI
$APT
$FTM
$TON
And maybe , maybe $NEAR can revive itself strongly using the AI narrative!
Nice flush on OI- reset back to levels it was at before the run from 60-70k. All the levered positions built up from that run have been effectively rinsed.
OI is nearly back at our last bottom level which is already historically low- so I don't expect it to drop too much further which also means chances of another major liq event following this one are low.
More likely the worst of the drop is over and we now chop/consolidate to gather strength for the next run on the highs.
A normal $BTC Cycle would have pulled back by now and consolidated another 6 months well under ATH's.
Right here #bitcoin is fast approaching escape velocity.
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"Asia is bidding" - at least that's the current storyline here on crypto Twitter.
Partly based on excitement around Hong Kong's new laws offering clear access to crypto.
But, let's breakdown that new set of regulations that were proposed last night:
ChatGPT is a sign the future has arrived.
But most people still don't know how to unlock its full potential.
Here are 10 threads on ChatGPT that'll make you a power-user in 20 minutes:
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It's the moment you've waited for, desired and above all else feared.
It's time for the 2023 shopping list!
(Which is also supporting public goods funding! Woo
ChatGPT is the secret to gaining more time, money and connections.
But most people don’t know the best ways to use it.
Here are 8 ways you can improve your life with AI today: