When larger assets like smart contract platforms experience significant growth, it often triggers explosive increases in memecoins. These memecoins, being at the extreme speculative end, tend to face market downturns sooner, serving as an early warning for the broader market. Knowing these fairly predictable role memecoins play in crypto cycles, one can encode a simple heuristic-based memecoin investing strategy that outreturns a market-cap-weighted basket of smart contract platforms by a factor of 28, or, if optimizing for memecoin investments on a velocity-weighted-bases, by a factor of 87. |
Read the full Messari Enterprise report by Dustin Teander here. |
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Hedera DeFi Ecosystem Analysis. Hedera has been developing a DeFi ecosystem throughout the bear market, and its ecosystem is off to a hot start in 2024. This success story can primarily attributed to the launch of SaucerSwap V2 in November, which introduced concentrated liquidity, important tokenomic changes, and more. Additionally, stablecoin supply on Hedera has been gradually increasing, with the supply of USDC reaching $8.3 million by the end of February. Although Hedera's DeFi ecosystem is off to a promising start in 2024, there are still improvements to be made. Most noticeably, the ecosystem lacks a preeminent lending protocol that can offer users leverage on any assets. Regardless, the progress made over the past year for Hedera's DeFi ecosystem cannot be ignored, and the ecosystem looks to continue to grow entering the next stage of the crypto bull run. [Messari Governance] [Balancer DAO] Engage Wonderland as a Service Provider. This proposal aims to establish a four-year strategic partnership between Balancer and Wonderland, focusing on supporting the development of Balancer V3. The Wonderland team offers expertise in smart contract development, cross-chain technologies, and system design and proposes a financial structure involving a monthly $30,000 USDC payment, 275,000 vested BAL tokens, and a call option on an additional 175,000 BAL tokens. The collaboration will aim to optimize gas efficiency, improve the protocol's security features, and extend to business development and communications.
[Messari Key Developments] Token Merge. Bloomberg has reported that three AI-focused blockchain companies—SingularityNET, Fetch.ai, and Ocean Protocol—are in discussions to merge their respective crypto tokens into an ASI token. This potential merger, aimed at advancing a decentralized AI platform, could yield a token with a fully diluted value of around $7.5 billion, pending community approval. The deal, "which could be announced as soon as Wednesday", would see the platforms operating independently but collaborating under a so-called Superintelligence Collective led by SingularityNET's Ben Goertzel and Fetch.ai's Humayun Sheikh. Representatives for the companies have refrained from commenting on these discussions. This development coincides with significant investments in AI by tech giants like Alphabet Inc. and Microsoft Corp., underscoring the growing interest in decentralized AI technologies on blockchain.
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Knowledge Seekers Rejoice, It's Quarterly Season! What are Messari Quarterly Reports?
With the arrival of the new year, the Messari team is excited to kickoff the release of our Q4 2023 quarterly reports. Our quarterly reports highlight top crypto protocols and present key metrics & indicators as well as important events to provide a full picture of the project's latest developments. Learn more about projects you are invested in or interested in and receive a clear look at project fundamentals and financial reporting.
Dive into our current and past quarterly reports available in our Protocol Reporting research page. Keep an eye out for reports with "🗓️" in Unqualified Opinions so you don't miss them! |
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Disclosure: Authors may own cryptoassets named in this newsletter. For more information, please visit messari.io.
Unqualified Opinions, a Messari newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor before making any investment decisions. Advertising and sponsorship do not influence editorial decisions or content. Third party advertisements and links to other sites where products or services are advertised are not endorsements or recommendations by Messari. Messari is not responsible for the content of the ads, promises made, or the quality or reliability of the products or services offered in any third party advertisement. |
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