Research Summary
The report provides an overview of the current state of the cryptocurrency market, highlighting the performance of various coins, including TAO, Pendle, Pyth, RON, and RNDR. It also discusses on-chain activities, mentioning the performance of LBPs, Loot, Whales, Emerald, Pandora, and MOBY. The report also anticipates a Dymension airdrop.
Key Takeaways
Performance of Cryptocurrencies
- TAO’s Significant Growth: TAO has seen a 2.5x increase, moving from 200 to 487 since the last report.
- Pendle’s Strong Performance: Pendle has been one of the best performers this month, with expectations of further growth if LSDs come back in full force with Blackrock’s ETH ETF.
- Pyth’s Breakout: Pyth has broken out of its previous pattern, increasing by 20% in a week.
- RON’s Volatility: RON, the coin of the Ronin chain, experienced a 20% drop on the Binance listing day, sparking rumors of insider trading.
- RNDR’s Temporary Surge: RNDR briefly touched $5 before settling back to $4.5, marking a 20% increase from its previous position.
On-Chain Activities
- Successful LBPs Launch: LBPs performed well on launch, with VEC/INS/CAD making multiples out of the gate. Despite a sharp drop afterward, apeing the LBPs remained profitable.
- Performance of Loot and Whales: Loot and Whales have been outperforming the broader market. Whales is an OTC points exchange of tokens that haven’t launched, and Loot receives 10% of Whales revenue.
- Emerald’s Fall and Pandora’s Rise: Emerald rugged, but its successor, Pandora, is up almost 10x from the bottom. Pandora features a new tech of ERC-404 – fungible non-fungible tokens.
- MOBY’s Launch: MOBY, a new ICO platform, saw 1,200 ETH being deposited in the first 18 minutes.
Actionable Insights
- Monitor TAO’s Performance: Given TAO’s significant growth, it may be beneficial to keep an eye on its performance and market trends.
- Consider the Impact of ETFs: The potential return of LSDs with Blackrock’s ETH ETF could impact the performance of coins like Pendle. It’s crucial to consider these factors when analyzing the market.
- Watch for Airdrops: The upcoming Dymension airdrop could impact the market. Past airdrops have led to a dump upon arrival, so it’s essential to be prepared for potential market fluctuations.
- Assess the Potential of New Technologies: The rise of Pandora, featuring ERC-404 technology, suggests that new technologies can significantly impact a coin’s performance. It’s crucial to stay updated on technological advancements in the crypto space.
