What is Degen on the Base Chain?
I previously wrote an article specifically introducing Degen on the Base Chain. It started off as just a MEME coin on the Base Chain, but later on, more and more applications on Farcaster started using it as a consumption token. Additionally, a team developed a third-layer network based on the Base Chain specifically for the native token, Degen. While Degen may not be the MEME coin with the highest increase in value on the Base Chain, nor the hottest MEME coin on the Base Chain currently, it is highly likely the most widely used MEME coin on the Base Chain.
How about SSV?
I have discussed this coin in previous articles, and it can be considered as part of the staking category of projects. The business models of staking projects are very clear, and the risk and return are relatively easy to analyze. It is also easy to determine where the ceiling of these projects is. The valuation of tokens in such projects and whether it exceeds the reasonable range of the project can be easily estimated. Once the price of these tokens becomes too unreasonable, it is easy for them to be cashed out and cause a market crash, so the price increase is easily capped. Apart from short-term speculation that may cause a surge in prices, the future trend of these tokens is likely to be a steady progression, perhaps slightly better than Bitcoin and Ethereum, or perhaps not as good. Therefore, these types of tokens are more in line with the taste of large institutions and are suitable for large-scale participation by institutional investors, but they have limited significance for retail investors. I have the same view on staking projects that I am involved in, such as EigenLayer and Ether.Fi. If it weren’t for the opportunity to profit from these projects, I would probably not pay much attention to them.
Will this round of DeFi perform poorly? Do UNI, SUSHI, CRV, and similar tokens have a chance to break their previous highs?
In this round of trends, the tokens of classic DeFi projects have indeed not performed as expected, but some newer projects such as Pendle have shown good performance. However, overall, I still believe that the prices of DeFi project tokens have been suppressed. DeFi projects are the only sub-sector that can achieve positive revenue at the moment. However, due to regulatory obstacles, it is difficult for the revenue of these projects to be directly empowered to the tokens, which severely limits their token prices. If this issue is not resolved, the upward potential of the entire DeFi ecosystem’s tokens is likely to be limited. As for whether they can break their previous highs in the upcoming bull market, I cannot predict.
How much development space is there for decentralized storage in fields such as judiciary, finance, contracts, and archives that require preserving information for more than 20 years?
I believe there is a great potential for decentralized storage, especially in the case of permanent storage. However, regarding the materials mentioned in this question, such as those related to the judiciary, finance, and contracts, it is technically feasible to use current permanent storage solutions like Arweave. However, at the current stage, the main obstacles to adoption are likely to be cost and operational barriers. I believe that when the costs and barriers of similar applications are reduced to a sufficiently low level in the future, this application will definitely explode.
Will PEPE become the next Dogecoin or Shitcoin?
I believe the chances of PEPE becoming the next Shitcoin are unlikely because it lacks a strong team to build an ecosystem. Whether it can become like Dogecoin depends on whether there are people like Musk continuously paying attention to it. Without these conditions, PEPE is likely to be a project that rides on the hype: it gains attention when people remember it, and is forgotten when they move on.