Something is brewed, and those with a delicate nose can feel it. As traders would expect, Bitcoin (BTC) is doing “Bitcoin” by jumping between “key” support and resistance levels, and to be honest, it’s all starting to look a bit choppy.
The long-awaited bitcoin moon was dependent on the participation of institutional investors, which broke the previous high of $19,000, and a number of other enduring scenarios. Everything happened, and the rise to $64,900 exceeded the dreams of many investors. But despite this, the entire situation of BTC looks predictable and boring if you think that the leading cryptocurrency will eventually cross $100,000 in the current bull run.
So back to what’s still being cooked…
Decentralized Autonomous Organizations (DAOs) are popular, non-performing tokens (NFTs) are popular, money-making games are popular, and metavers are popular.
This is where the real bosses are now – speculate, build, guess, build networks and do what really matters. What distinguishes those who are truly into cryptocurrency is that this massive approach and upward construction trend is leading to some of the most ground-breaking projects in the space.
Take the Hofmann House Loot project, or the latest Good Bridging and BridgeLoot projects in the Avalanche ecosystem.
Instead of putting on a suit, throw a proper C-suite presentation and chasing venture capital dollars, interested members who wanted to pay the price of the gas token Loot for free, and the community attributed value to NFT through OpenSea sales.
The value of the new ideas was agreed upon through heated discussions on Discord, and anyone with an idea was free to start their own derivative contract, whereby Loot owners could then repeat the cycle of seal and list.
The 10,000 Golden Adventures (AGLD) paper donation for Loot NFT holders will soon cost over $50,000, and the entire project has been a star and history book. Some would say that this is basically annual funding for NFC.
Seismic tide soon
What’s unique and exciting about Loot is that it sets a precedent for what will be the new fall model in space. The process involves creating a product (be it NFT or a protocol), mentioning it to the interested community and giving them the opportunity to print codes in the range of 7777 to 10,000 for free. Then the creators let the community, speculators, believers, and OpenSea do the rest.
Hoffman encouraged the whole family to do whatever they wanted with the project – essentially saying, “This is for you! Build up, my kids!” The unknown genius behind the Good Bridging (GB) token drop has done the same, too, but with less leadership.
In fact, 16,000 early users of Avalanche’s Ethereum-to-Avalanche Bridge received a token drop of 895GB, with a top price of $2.60 per gigabyte around $2,300. Not too bad, right?
Furthermore, GB owners who were not sure of the fall were immediately eligible for the gas-free BridgeLoot NFT as a bonus, and a few hours later confirmed and registered the BridgeLoot avalanche-based Snowflake marketplace, with many owners listing their NFTs for 20-100 fax.
From a market perspective, money is looking for money. Investors are chasing liquidity, and this is part of what drives prices in the markets.
We see this happen with all phase one incentive launches where hundreds of millions of dollars go from Ether (ETH) to Phantom (FTM), ETH to Arbitrum (ARB), or ETH to Avalanche (AVAX) or ETH. In Terra (LUNA) or ETH and USD Coin (USDC) to Web 3.0-based decentralized exchanges such as dYdX and GMX.
The point is, the cryptocurrency is driven by liquidity and trends. The whole animal of prey freed the cat from the backpack and educated the builders about the job that had always been there, but only recently was discovered.
Fundraising from the bottom up, NFTs with utility value in the metaverse and DAOs and a lot of cash being sucked into the second level ecosystem, is by no means coming.
