Research Summary
The report discusses the recent rise of the ERC404 wave in the Ethereum ecosystem, triggered by PANDORA’s surge to a $300 million FDV. It also highlights the performance of various tokens and their market caps, including BSSB, HYPR, WEBAI, PEAS, CAD, BAI, LYVE, VEC, ODGN, INS, GEM, and OPAL.
Key Takeaways
ERC404 Wave and PANDORA’s Surge
- ERC404 Wave: The Ethereum ecosystem has seen a resurgence due to the rise of the ERC404 wave, which was triggered by PANDORA’s surge to a $300 million FDV. This has led to increased interest in ERC404 beta plays and other new non-ERC404 projects.
- PANDORA’s Surge: PANDORA’s run to a $300 million FDV set off the ERC404 wave. However, the report suggests that the ERC404 ecosystem was nearing a top, which turned out to be almost exactly the pico top for PANDORA.
Token Performance
- High Performing Tokens: The report highlights the performance of various tokens, including BSSB, HYPR, WEBAI, and PEAS, which have seen significant increases in their market caps.
- Stable and Decreasing Tokens: Some tokens, such as CAD, BAI, LYVE, VEC, ODGN, and INS, have seen their market caps remain stable or decrease. The report suggests that these tokens may be worth revisiting at these lower/flat levels.
Upcoming Tokens
- New Tokens: The report also discusses new tokens that have launched in the past two weeks, including a mix of ERC404s and regular ERCs. However, it warns that the beta plays in 404 land can go to zero quite quickly.
Actionable Insights
- Monitor the ERC404 Ecosystem: Given the recent rise of the ERC404 wave, it may be beneficial to keep a close eye on the ERC404 ecosystem and the performance of related tokens.
- Revisit Stable and Decreasing Tokens: Tokens that have seen their market caps remain stable or decrease, such as CAD, BAI, LYVE, VEC, ODGN, and INS, may be worth revisiting at these lower/flat levels.
- Consider New Tokens: New tokens that have launched in the past two weeks, including a mix of ERC404s and regular ERCs, could be of interest. However, caution should be exercised as the beta plays in 404 land can go to zero quite quickly.
