Trader's Viewpoint: August Market Analysis (Part 1)
Twitter user "SleepingInTheRain" (@qiaoyunzi1) shared the latest token trends and potentia l trading opportunities (authorized).
1. Basechain's launch was unexpected. However, due to the increased risks associated with "Shiba Inu" ( Memecoin) following the Pauly incident, I did not actively participate in Shiba Inu on Basechain, although I envied the wealthy Shiba Inu players. But in the end, I didn't get involved. My expectations for Basechain remain in $OP and $VELO, and I've bought some and made a few profitable waves.
2. I conducted detailed forward-looking analysis before engaging in related trades. After the $VELO transactions conclude, I will conduct a detailed review. Additionally, I'm keeping an eye on early-stage Basechain ecosystems for potential opportunities, but so far, no outstanding protocol has emerged. We'll wait and see.
3. The opportunity for Shib (Shiba Inu) lies in the launch of Layer2 (the summit is about to announce it, and developers have mentioned a near-term release). However, the reaction now is likely too late, as $BONE has already surged significantly. Nevertheless, $LEASH seems to have some potential, and its curren t price is similar to my initial entry.
4. Currently, there's not much to deeply explore in SHIB Layer2. Since the Layer2 War has reached this point, Shib Layer2 doesn't possess a clear competitive advantage. Often, it's time to retreat before positive news lands.
5. I'm closely monitoring the upgrade that will empower the native token of $GNS (Genesys). Previously, the GNS team was set to receive 16% of protocol revenue, but now, to drive growth, they will mint an additional 1 million tokens (supply +3.3%) and allocate them to the team. Within a year, the team can only stake $GNS (the team previously owned 1.27 million $GNS).
Furthermore, to adjust and compensate for GNS NFT BOT's revenue, the team will issue an additional 3.36 million $GNS (supply +11%) as incentives (vesting over 6 months, with an immediate redemption discount of 25%). The rewards for $GNS stakers will also increase from 33% to 61%. This will happen in September, and I will continue to track this development and analyze it from a data-driven perspective (new articles will be published).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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