Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Trader's Viewpoint: August Market Analysis (Part 1)

Trader's Viewpoint: August Market Analysis (Part 1)

Bitget2023/08/02 04:31

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).

0

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.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!