The upcoming Bitcoin halving is seen as a potential trigger for the next bull run. However, given that the current annualized issuance rate is already at a meager 1.6% and nearly 94% of Bitcoins are already in circulation, the expected supply shock from the halving is likely to have only a minimal impact on Bitcoin prices.
However, growing demand will be the main factor driving the price surge. A bull market is still possible after the halving. Moreover, the halving brought more attention to Bitcoin. We can see various news about the halving event. But how long can this kind of marketing last?

Coinbase's Chief Legal Officer, Paul Grewal, stated in an interview that cryptocurrency voters will impact the U.S. presidential election. He noted that particularly in crucial states, if the margin of votes between candidates is extremely narrow, thousands of cryptocurrency-supporting voters could become a decisive factor. This assertion reflects the growing influence of the cryptocurrency community, especially in American politics and elections. Due to the close association of cryptocurrencies with concepts like innovation and financial freedom, attitudes toward cryptocurrencies may indeed become a significant consideration for voters when selecting candidates. This also underscores the gradual expansion of the influence of digital assets globally, with their impact increasingly evident in political and economic spheres.

Stablecoins are increasingly used on public blockchains and have become the primary means of transaction settlement. Despite the relatively stable usage of major cryptocurrencies, the value of transactions in stable coins accounts for the majority of settlements on the blockchain.

This is a very interesting and complex development. On the one hand, the rise of stablecoins in the cryptocurrency ecosystem shows the demand for a more stable and predictable medium of value. This is important for practical business and everyday use, especially in the face of cryptocurrency price volatility.

It has also raised some concerns about whether stablecoins are gradually replacing native tokens, especially for digital gold like Bitcoin. In fact, the use of native assets like Bitcoin and Ether seems to be decreasing, while the use of stablecoins continues to grow.

Overall, this trend shows that the cryptocurrency and blockchain ecosystem is very active and evolving. It also serves as a reminder that as technology and user needs change, we need to be flexible and adapt to new trends and constantly evaluate the role and place of cryptocurrencies in the future.

According to Etherscan data, the current Ethereum network Gas fee exceeded 300 Gwei for a short time

CoinGecko has highlighted the potential risks associated with borrowing against NFTs, particularly the risk of liquidation. This has prompted an analysis of significant instances of NFT liquidation and the corresponding trends.

In the realm of NFT liquidations, a notable pattern emerges. Among the top 25 cases, Bored Ape Yacht Club (BAYC) collateral was linked to 10 loans, resulting in a collective loss of $754,000 for borrowers. Autoglyphs, a prominent NFT collection, follows closely, accounting for four of the top 25 liquidation cases and leading to debtor losses of $372,000, which constitutes 22.6% of the total. Wrapped Crypto Punks also contributed four cases, with debtor losses amounting to $177,000 (10.8%).

ArtBlocks enters the scene with its curated projects backing loans that faced the worst liquidation loss of $164,000, translating to a 10% debtor loss. This evaluation examines Ethereum NFT loan liquidations through the lens of debtor losses, calculated by comparing loan debt to collection floor prices during liquidation. The analysis draws on data from SnowGenesis, CoinGecko NFT, and NFT price floor data.

The L1 battle is no longer a new concept for crypto investors. Still, as old L1s continue to be refined and new ones emerge, investors who don't keep up with the narrative risk being left out of the development wave.

The first Battle of L1

In 2018, when I first entered the crypto market, an OG told me, "Invest in ETH, its price has halved, the bottom has been reached," which is also my opportunity to enter the market. At that time, projects such as Ethereum were not yet called L1, but smart contract platforms.

During this period, many smart contract platforms such as Cardano, NEO, Tron, EOS and Monero were created to solve Ethereum's scalability problem (transaction speed + transaction fees), so they were also dubbed "ETH killers" by investors. However, most of the "ETH killers" are now either gone or barely heard of.

The Second L1 Battle

The second L1 battle took place in the most recent market cycle (2020-2024), and the main task is again to solve the expansion of Ethereum, although the goal is the same, but this war seems to be more diverse than the last cycle's war.

This battle focuses on the underlying blockchain with the following characteristics:

Multi-chain blockchains: Cosmos, Polkadot, and Avalanche.

Monolithic blockchain: Solana, Near Protocol, Fantom, Celo,...

Looking back at the first two L1 battles, we can find that although the L1 narrative is a relatively new concept, it has maintained its appeal to investors since its emergence.

However, the next generation of L1 projects is larger and more powerful than the previous two.

Therefore, I predict that projects such as Sui, Aptos, Aleo, Celestia, and Monad will lead the next L1 war in the next bull market.

Which projects will lead the next L1 battle?

1. Aptos

Aptos is one of the latest L1s to complete the distribution of tokens in the form of retroactive airdrops. Users who minted NFT on the Aptos test network received an average of $3,000 worth of APT tokens in airdrops.


Aptos extension solution

Aptos uses the Block-STM algorithm and BFT consensus mechanism to implement network transactions, aiming to solve the scaling problem and avoid the mistakes of Solana's multiple network resets. The parallel processing mechanism of the Aptos network can execute a large number of transactions simultaneously, resulting in network speeds of 160,000 TPS. In addition to the Move language, which is built on Facebook's Diem, Aptos can also build smart contracts using Rust.

The development of the Aptos ecosystem

After the introduction of APT tokens and massive airdrops to the community, the number of projects in the Aptos ecosystem skyrocketed. This shows that Aptos is off to a good start. However, most of the early ecological projects were of poor quality, and quite a few of them cheated users out of money.

However, the future of the Aptos ecosystem remains promising for several reasons:

Strong support from Binance &BNB Chain: Aptos is the first blockchain to be extended by PancakeSwap, demonstrating that Binance's support for Aptos goes beyond strategic investments.

Ecological highlight projects such as Thala Labs, Pontem, Aries Market, Totuga Finance and Martian Wallet have successfully completed financing. This proves that VC continues to bet on key components of the Aptos ecosystem.

In addition, adding support for Rust and many other well-known programming languages could help the Aptos ecosystem become more robust.

Despite the small number of quality projects in the Aptos ecosystem, it is a positive sign for the ecosystem that Aptos has had a relatively positive start in the long run and has left the impression that it is stronger than Sui.

Teams and Investors

There is no denying the talent of the Aptos #DevelopmentTeam , who worked hard at Facebook to build Diem.

Even after Mainnet went live, the project raised hundreds of millions of dollars and reached a valuation of $4 billion.

evaluate

Aptos addresses the scalability of Ethereum at the execution stage from a technical point of view.

The Aptos ecosystem is in its early stages, with few quality projects, but the future remains promising.

2. Sui

Unlike Aptos, Sui sparked controversy when the mainnet went live because it did not offer token airdrops for test net users. Instead, Testnet users were only whitelisted to buy SUI tokens at $0.03, which equates to a $300 million valuation.


The Sui solution

Sui is a monolithic blockchain, similar to Solana, Fantom, or Near Protocol. However, Sui and Aptos are very similar in that, unlike Solana, they chose to scale horizontally rather than vertically.

But while Aptos used parallel execution to settle multiple trades at once, Sui went in a different direction. The Narwhal-Tusk consensus algorithm is a key component of Sui's approach to solving the scalability problem, minimizing the communication needed between validators to process transactions to achieve lower latency.

As a result, Sui's TPS can be comparable to or even higher than Aptos without the need for Solana's standard nodes. It can also be said that Sui partially addresses the tradeoff between scalability, security, and decentralization of blockchain.

Development status of Sui ecosystem

Sui's ecosystem is still in the early stages of infrastructure development, so it has received little attention. Typically, it takes a year for a new L1 to set up infrastructure components such as wallets, cross-chain Bridges, prophecy machines, and apis before the ecosystem can enter a sustainable growth phase.

Teams and Investors

Similar to the Aptos #DevelopmentTeam , most of the Mysten Lab #DevelopmentTeam  responsible for building the Sui blockchain came from the Diem project. However, the number of Diem developers on the Sui Blockchain #DevelopmentTeam  is much higher compared to the Aptos team.

evaluate

The future of Sui cannot be accurately predicted at this time, because the most important factor is L1's own development strategy. But compared to its rival Aptos, Sui's #DevelopmentTeam  had more creativity in solving transaction problems. When it comes to scalability, Sui's solution is safer and more practical.

3. Monad

Monad is a new L1 that has recently attracted attention due to "airdrop speculation" caused by preparations for the launch of the test net.


The Monad solution

Unlike Sui and Aptos, Monad is an EVM blockchain with a PoS consensus mechanism and a TPS of up to 10,000. So what is it about Monad that makes it so fast?

Similar to Aptos, Monad uses parallel execution of transactions.

Development of the Monad ecosystem

Monad is still in the development phase and is ready to launch a testnet version in the near future, so there are currently no players in the Monad ecosystem.

Teams and Investors

Monad's #DevelopmentTeam  worked at TradFi giant Jump Trading for over 7 years. In addition, Monad has successfully raised $19 million from various VCS including Dragonfly Capital, Lemniscap, Shima Capital, and Palceholder.

evaluate

It is difficult to evaluate Monad at the moment, but with the limited information available, it is at least possible to validate the potential of the #DevelopmentTeam  by raising funding from a number of large VCS.

4. Aleo

Aleo is a new L1 designed to provide decentralized and fully private applications to all Web3 users through ZKP technology.

Aleo's solution

According to the Aleo documentation, the platform doesn't place a strong emphasis on scalability, but Aleo wants to provide privacy for all platform users with ZKP technology features.

The development of the Aleo ecosystem

The Aleo ecosystem is in the early stages of development, with eco-projects such as Leo Wallet, VolcaniX, Nucleo, Demox Labs... We still need a lot of time to follow up on the future Aleo ecosystem. At present, Aleo is still in the test network, the main network online time has not been announced.

Teams and Investors

Aleo has successfully raised a total of $298 million from a16z, Coinbase Ventures, Placeholder, Polychain Capital and others. Although Aleo's #DevelopmentTeam  isn't particularly impressive. Clearly, VCS have information we haven't discovered yet.

evaluate

We currently lack sufficient information to evaluate Aleo and require additional observation time. For a privacy project to get so much money and attention, perhaps the U.S. government might block Aleo, so will Aleo adjust its goals if and when it does come to that?

5. Celestia

Celestia is the crypto industry's first fully modular blockchain, so even though it hasn't raised as much money as Aptos or Sui, Celestia is still generating a lot of interest from the crypto community.


Celestia's solution

Traditional blockchains typically integrate functions such as consensus, settlement, data availability, and execution in a single architecture. However, as the complexity and demands of blockchain applications increase, a single architecture may not be able to meet the requirements of different scenarios. Celestia, as a modular blockchain, separates execution, consensus, and data availability.

Celestia's model is similar to Ethereum +Rollup L2. After the completion of the Ethereum 2.0 roadmap, Ethereum will also become a fully functional modular blockchain. Clearly, modular blockchains will be an important trend in the crypto market in the future.

State of development of the Celestia ecosystem

Celestia is still in the research and development stage, and the ecosystem is not yet formed.

Teams and Investors

The co-founders of the project are also senior developers at Cosmos, while the other team members also have a good pedigree.

evaluate

Celestia is growing at a much slower rate than Aptos and Sui because the technology they are trying to develop is so sophisticated.

Game Dosi is the first Web3 gaming platform launched by NFT platform LINE NEXT, a joint venture of Japanese communications giant LINE dedicated to developing and expanding the NFT ecosystem. joint venture.
Last July, Line Next announced the completion of a $10 million strategic financing round from investors including SoftBank, NAVER, NAVER WEBTOON, NAVER Z, LINE Games, CJ ENM, YG PLUS, SHINSEGAE, Hashed, and K Auction, 10 companies that will support Line Next will support the launch of its global NFT platform "DOSI" and the development of NFT projects based on IP content. With this investment, Line Next is also expanding its strategic cooperation with IP content, distribution, game and entertainment companies in the NFT content business and marketing interface.
Building an integrated platform for Web3 games
With the slogan "Gamers First, Web3 Next", GAME DOSI aims to be a medium where developers and gamers can communicate directly and build trust. After identifying the needs of developers and investing a lot of effort in providing them with the best business model, GAME DOSI summarized the features of its platform.
All-in-one platform
GAME DOSI provides game developers with various systems to easily develop Web3 games. Developers can significantly reduce the amount of resources needed for development by using the resources it provides. The project partners plan to provide an integrated platform for users and developers by supporting the GAME DOSI ecosystem in getting started, launching and operating.
Onboarding: Provision of Gamefi platform SDK and API
Launch: NFT store (B2C, C2C), game token trading and merchandise, integration system
Operation: GAME DOSI Biz management backend management, game merchandise sales, asset profit management one-stop
Legal advice and risk management guidance
Currently, the market size of crypto and NFT based on blockchain technology is growing rapidly. At the same time, regulations to prevent unexpected events are increasing. Therefore, in order to operate secure blockchain games, each country needs a compliance strategy for new regulations. game dosi can respond to blockchain regulations, such as wallets, tokens and NFTs, preemptively through its experience on the launched DOSI and AVA platforms. by providing ongoing regulatory checks and risk guidelines for games entering game dosi, it helps #DevelopmentTeam s reduce cryptocurrency industry issues and focus on the business of gaming.
Development Kits
GAME DOSI offers SDKs and APIs for game developers, and with its development kits, game developers can quickly and easily develop Web3 games.
Marketing and promotion support
In addition to games, GAME DOSI plans to build a content ecosystem using Web3 and blockchain technology in various fields such as NFT and entertainment. Thanks to LINE Messenger's global reach in mobile communication and support for LINE Web3 and blockchain service related activities, GAME DOSI sees its power as LINE's main Web3 gaming platform.
Token Economy Consulting
Based on the LINK (LN) ecosystem, the team supports the design of tokens and commodity structures optimized for game content. The system will be introduced as an optimized feature through GAME DOSI and updates will be rolled out.
Community Benefits
GAME DOSI plans to introduce a variety of different community features through a business partnership with NFT platform development and services company "0x&".
Five games will be released in the second half of the year
According to the announcement, GAME DOSI will launch five new games in the second half of this year, including Sweet Monster Guardians, VLO (Vestria the Last Order), KEROZ, Drawshop Kingdom Reverse and Project GD, the latter of which is a Line internally developed The games will cover many of the games based on the GAME DOSI IP. All games will be based on Finschia, LINE's third-generation blockchain master network, which was released last December.
Sweet Monster Guardians: A strategic defense type web game where users can drag and drop character cards to defend towns with unique toy dolls, developed by Movisoft and expected to launch in June.
VLO (Vestria the Last Order): a collective RPG (role-playing game) endgame that provides a dynamic combat experience through dynamic real-time PVP content, allowing players to engage in various adventures and battles in war scenarios, developed by SIS Studio, expected to launch in Q4.
KEROZ: The first Roguelike (role-playing game) based on Hack & Slash (hack & slash genre) in Crypto, offering a spectacular action game experience, developed by Superflex, will support PC and mobile, expected to launch in September.
Drawshop Kingdom Reverse: A blockchain-based metaverse web game that allows users to create their own 2D dot art galleries that can be used to decorate your own land and earn NFTs through avatars, machines and dolls, developed by Nolatency Limited, expected to go live in Q4.
Project GD: A development program for various games using GAME DOSI's IP, the first game to be launched is TCG, where players can duel each other using their NFT decks, expected to go live in July.
LINE NEXT also plans to release a teaser for a second batch of new games later this year.
LINE has been in the gaming industry for several years before entering the Web3 gaming circuit. Its Line Game social game platform had surpassed 150 million cumulative game downloads by 2013. in 2018, Line merged its existing game division with NextFloor, the Korean developer of Dragon Flight and Son of Destiny, to form LINE GAMES, which set out to develop games for handheld, PC, and consoles. In the same year, Line Games also received 125 billion won (about $110 million) in financing from Anchor Equity Partners.
In March this year, Uncharted Waters Origin, a massively multiplayer online RPG developed and published by LINE Games, was launched on Steam, and players can download the international service for free. Relying on the sentiment of the Grand Age of Sail IP series, this online game attracted the attention and input of many players in the early stage. However, due to the problem that the game recharge in the international service is several times of the Korean service, a large number of players began to give negative comments on Steam one after another, and there are still more than half of the bad comments.
The five games to be released by GAME DOSI have not yet disclosed more information, and according to the roadmap, all the games will be online only at the end of the year.

It's not something new
but XRP may not be the next imo
for a lot of shitcoins out there