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- Next-Gen Crypto: Scaling New Heights! 🌐
Next-Gen Crypto: Scaling New Heights! 🌐
Persona Insights
25 September 2024
Next-Gen Crypto: Scaling New Heights! 🌐
This email is for informational purposes only and not financial advice. Always consult a financial advisor.
Note: A glossary is available at the bottom of the report that explains any technical terms used.
💰 Trending Coins 💰
Trending coins based on social media discussions and user sentiment (excluding Bitcoin & Ethereum):
Why it is trending: Ikigai has shown remarkable engagement and awareness growth, driven by multiple new partnerships, an AI image-generation bot for community use, and a unique meme game.
Summary and backing: Ikigai is a high-quality coin known for its strong community involvement and purpose. It has recently entered partnerships with Katchu, Utoob, and Alphakek, enhancing its utility and entertainment value through innovative tools and games.
The Ikigai AI will prove to be an amazing asset for the team and community!
@alphakek_ai it's a pleasure to be a part of the ecosystem!
We hope this collaboration will bring about many pleasantries!
@ikigaionsolana x @alphakek_ai
#Ikigai#Solana#Memecoin#AI#Partnership
— ikigai (@ikigaionsolana)
9:43 PM • Sep 23, 2024
Why it is trending: Solana is trending due to its high utility and strong market performance amidst debates on its inflation rate.
Summary and backing: Solana is a high-performance blockchain supporting decentralized apps and crypto platforms. It is favored for its scalability and lower transaction costs compared to Ethereum.
$SOL + $SUI | Bullish metrics.
Transactions = Adoption.
This is one of the reasons why these are amongst my top 3 altcoins.
— iWantCoinNews📈 (@iWantCoinNews)
7:07 AM • Sep 25, 2024
Why it is trending: Internet Computer is noted for its low inflation rate and solid performance in its early years, sparking discussions and engagements.
Summary and backing: Internet Computer aims to reinvent the internet by allowing secure and scalable decentralized applications. It has a competitive inflation rate, aiming to balance growth and token value.
$ICP is currently the 2nd biggest AI play by marketcap
I am personally bullish on this narrative for the cycle
And I believe $NEAR the current leader of the sector by marketcap doing well will help $ICP performance aswell
And vice versa
— Aaron 🆎 (@AaronBremser_)
6:44 AM • Sep 25, 2024
Why it is trending: Dogecoin is trending due to its predictable and steadily decreasing inflation rate, making it a rare exception among major tokens.
Summary and backing: Dogecoin, originally created as a joke, has gained a strong following due to its steady and predictable inflation model. It remains a popular cryptocurrency for tips, donations, and microtransactions.
$DOGE All major short positions have been liquidated. The next target is #DOGECOIN long positions at $0.1032, which will result in $34.53 million in liquidations. Expect the price to trend towards there in the near future.
— Ðima James Potts (@DimaPotts36)
3:36 AM • Sep 25, 2024
Coin or technology identified as gaining attention in niche communities but not necessarily covered by mainstream media:
Why it shows promise: Active discussions across multiple forums suggest Near Protocol is gaining traction ahead of an anticipated altseason.
Summary and backing: Near Protocol is gaining attention due to its ongoing development and adoption in decentralized applications. Its unique consensus mechanism and growing ecosystem position it as a potential leader in the next altseason.
Chain Abstraction on NEAR Protocol:
> Easy Web2 style onboarding
> Multiple access keys for each account
> Recovery keys@ilblackdragon explains why NEAR is uniquely positioned for Chain abstraction:
— NEAR Protocol (@NEARProtocol)
1:00 AM • Sep 25, 2024
👀 Top Active Posts 👀
Summaries of the most discussed/engaged posts from social media over the past day + we try to find a relevant link for the subject:
Mass Adoption of Crypto Among US Financial Advisors: A post discussing the recent report by Bitwise CIO Matt Hougan, indicating that 70% of top US financial advisors now hold cryptocurrencies. The community is excited about this adoption trend, expecting client allocations to follow within 6-12 months due to improving financial infrastructure.
Ethereum Tops All RWA Protocols: Multiple posts celebrate Ethereum's dominance in the real-world asset (RWA) protocol space, highlighting the high level of engagement and enthusiasm for Ethereum as the leading blockchain for tokenized assets.
Charting Ethereum’s Potential Rally: Posts discussing Ethereum's potential price rally if it clears the $2,707 resistance level, amid the SEC delaying a decision on BlackRock's ETH ETF options. Users' comments reflect optimism and anticipation for a significant price increase.
Top Fed Official Calls for Interest Rate Cuts: Discussions about Neel Kashkari’s remarks on further interest rate cuts in 2024 and its potential impact on the crypto market. Users show mixed reactions, balancing optimism and caution regarding economic changes and labor market conditions.
📈 Market Sentiment 📈
Market sentiment based on user discussions on social media:
Overall: The overall crypto market sentiment is cautiously optimistic, driven by significant investment inflows and the Federal Reserve's positive stance.
Bitcoin: Bitcoin sentiment is highly bullish, featuring its strongest September performance and enthusiastic outlook from major investors like BlackRock's CEO.
Ethereum: Ethereum sentiment is mixed, with concerns about price declines and bearish outlooks contrasting with bullish views on potential upcoming projects and price recoveries.
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📚 Glossary 📚
Altseason: A period where alternative cryptocurrencies (altcoins) gain a significant increase in value relative to Bitcoin. It's characterized by the outperformance of many altcoins against Bitcoin.
Consensus Mechanism: A process used in blockchain networks to achieve agreement on a single data value or a network state among distributed processes or systems. Common mechanisms include Proof of Work (PoW) and Proof of Stake (PoS).
Decentralized Applications (dApps): Applications that run on a decentralized network, typically a blockchain, rather than being hosted on a single server. They operate without a central authority or intermediary.
DeFi (Decentralized Finance): A movement to recreate traditional financial instruments in a decentralized architecture, outside of traditional financial institutions. DeFi uses blockchain technology and cryptocurrencies.
FOMO (Fear of Missing Out): A psychological phenomenon where an individual feels compelled to make investment decisions based on the fear of missing out on potential profits. It's prevalent in volatile markets like cryptocurrency.
Inflation Rate: In the context of cryptocurrency, it refers to the rate at which new coins are created and introduced into circulation. An inflation rate affects the value and scarcity of a token.
Real-World Asset (RWA) Protocols: Blockchain protocols designed to tokenize real-world assets, such as real estate or commodities, enabling digital ownership and trading of these assets on blockchain platforms.
Scalability: The capability of a blockchain network to handle a growing amount of work or its potential to accommodate growth. High scalability means the network can process a large number of transactions per second.