Research Summary
The report discusses the potential of cryptocurrencies to reshape financial markets, with a focus on the Avalanche ecosystem. It also covers the impact of inscriptions on multiple chains and the rise of Solana in DEX and NFT volumes. The report further highlights a new tool, DePIN Ninja, for tracking Decentralized Physical Infrastructure revenue.
Key Takeaways
Crypto’s Potential to Reshape Finance
- Emerging Crypto Infrastructure: The report suggests that the improved infrastructure and on-ramping capabilities of cryptocurrencies could revolutionize trading, payments, settlement, and other financial applications. This could lead to a surge in real-world applications built on crypto.
Avalanche Ecosystem’s Success
- Breakout Performance: Avalanche has outperformed other cryptocurrencies, including SOL, due to its unique subnets that function as separate chains but are easily interoperable and secured by Avalanche. This allows for a traditional DeFi ecosystem and specific gaming subnets, among others.
Impact of Inscriptions on Multiple Chains
- Increased Transactions: The report notes that inscriptions and Ordinals branching out from Bitcoin to EVM chains have pushed many of them to their limits, with daily transactions on Avalanche, Arbitrum, and zkSync Era surging from a few hundred thousand per day to 5 million or more.
Solana’s Rising Activity
- Flipping Ethereum: Solana’s activity has been on the rise, with the report noting that for the first time ever, Solana flipped Ethereum in daily DEX volume on December 14th. Solana also surpassed Ethereum in 7-day NFT sales volume.
DePIN Ninja for Tracking Revenue
- Decentralized Physical Infrastructure: The report highlights DePIN Ninja, a new dashboard that tracks revenue data for various projects, as a useful tool for analysts struggling to find good data on Decentralized Physical Infrastructure.
Actionable Insights
- Explore the Avalanche Ecosystem: Given its breakout performance and unique subnets, the Avalanche ecosystem could be worth exploring for its potential in various applications, including gaming and traditional DeFi.
- Monitor Solana’s Activity: With Solana flipping Ethereum in daily DEX volume and 7-day NFT sales volume, it could be beneficial to keep an eye on Solana’s activity and performance.
- Utilize DePIN Ninja: For those interested in Decentralized Physical Infrastructure, using DePIN Ninja could provide valuable insights into revenue data for various projects.
