🗒️ 4 Major Crypto Projects To Watch Right Now

PLUS it`s time to dive into the Hyperliquid ecosystem!

October 23, 2024

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GM, bears are getting louder.

Bitcoin is continuing its slow dip at the moment, but what`s interesting is that even though this is a minor retrace in the grand scheme, bearish sentiment is starting to spread all over the timeline. 

This is also reflected in current short positioning, with $1.65 billion in short positions waiting to be liquidated if BTC breaks $68K (not far).

All in all, the thesis remains the same: bullish until proven otherwise. That being said, let`s check on some interesting majors that could pick up steam on the next reversal.

First up, the good old stinky linky—Chainlink. It’s been a wild ride for the bagholders since 2020, but from a weekly perspective, it’s starting to look a lot like DOGE did just before its big move (explained below). Fundamentally, we`ve got Larry Fink shilling it around media, joined by the CEO of Swift saying that Chainlink could overtake Bitcoin (take it with a grain of salt).

The next one on the Ethereum side is Base: the DeFi activity here is rapidly increasing. It might be a good idea to keep a close eye on the Base ecosystem (including meme coins).

Moreover, Celestia, the data availability leader and (unfortunately) a literal meme regarding VC unlock coins, is finally starting to see hope in the chart after the past consolidation. Fundamentally, it`s moving in a good direction with its Mammoth Mini update, currently rolled out on testnet, averaging ~27MB/s of permissionless data throughput, as a path that eventually leads to 1 GB blocks.

Lastly, Maker DAO is considering keeping the original Maker brand shortly after the Sky rebrand. Looking at the MKR chart, I personally find this an attractive place to stack some of the fundamentally sound Ethereum protocols with an annualized revenue of $189.64m.

Just some pointers for you, not financial advice! 

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RUNE/USDT 1D Binance Log Chart

Here’s a big cap lay-up of a trade. Rune is compressing beneath the 5.40 point of control. Price popped out of the downtrend and smashed into this big resistance level. When it breaks through this level, it can move quite quickly. 

The hot ball of money is deep in the AI x Meme meta right now, but much of it is too degen for the newsletter, so come by Discord to see what’s popping off in the world of GNON and Truth Terminal. Here’s a kind of thought experiment on why it’s getting so much attention since Marc Andreesen of A16Z kicked things off a couple weeks ago.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Smart-money movements of the day:

Source: Chainedge

Top mindshare gainers and losers of the day:

Source: Kaito 

Hyperliquid Ecosystem Watch

The massively awaited Hyperliquid TGE is coming up, and the numbers for the potential valuation of HYPE token are looking pretty damn good. If you still haven`t claimed your allocation, do it now right here; the clock is ticking.

Right now, it`s time to get acquainted with the ecosystem picks before the season takes off: 

Hypurr Fun is the main telegram bot for Hyperliquid spot tokens and a place where new launches happen. Moreover, Hypurr Fun is constantly adding new features, becoming a SocialFi/GambleFi hub for Hyperliquid eco, including AI bot trading.

HFUN token is currently consolidating around $15m.

Hyperliquid aims to become the utility and gaming hub of Hyperliquid, using a Proof of Fairness system.

Right now, the VEGAS market is reacting positively to the HORIZON updates news, which will implement a new website, new games, and a web app with a staking system.

Thunderhead just announced its first premier LST for Hyperliquid, $stHYPE. As with other LSTs, $stHYPE will be usable as collateral in nearly every DeFi protocol, be a restakeable asset in bridge-like protocols and more. 

Money-market for Hyperliquid, this one seems to present itself pretty professionally so far, definitely one to watch.

Upcoming project building a Hyperliquid native stablecoin, feUSD. 

Powering liquid staking on Hyperliquid. This one seems very fresh along with anon devs.

Hyperliquid first native AMM DEX project.

The important bits.

  • BlonkFi (MemeFi) - Now rebranded to “Blendy”

  • Nillion (First blind computer) - Released trailer explaining the importance of data privacy

  • EOS (L1) - ExSat mainnet is now launched

  • SKALE (L2) - Listen to a fireside conversation with SKALE at Permissionless

  • Superseed (Blockchain that repays your debt) - Builders on Superseed will benefit from retro public good funds

  • Core DAO (Bitcoin DeFi) - Over 100,000 unique wallets interacted with Core in one day

  • Elixir (DeFi) - Introducing mainner Phase 1

Even more important bits.

Charts and stats of the day.

Life gets busy so here’s what you’ve missed.

What Is Sophon? A Complete Guide

Research

We've been cooking this one since we started seeing Sophon appear across the timeline.

Everyone's crying out for this, but we really do need to see an influx of quality, consumer-focused applications that will attract the masses. The potential leader of this is in our crosshairs.

Read More → Tune in on Spotify | YouTube →

What is Soneium? A Beginner's Guide

Beyond 'another L2' being a meme at this point, why is there a need for it? Where does it fit into the existing saturated L2 landscape?

If there's a company that knows how to nail retail, it's Sony, and that's literally what they're planning to do here: Soneium's vision is to build a retail-focused chain.'

To save you doom scrolling.

A watch worth 40 keks is almost one Bitcoin, or, in other words, generational wealth for the patient ones. I'm just saying.


As explained above, some see danger, while others see opportunity. I personally support the latter.

stay safe homies,

Hix0n 🫡

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