"Why does $zeta double after SPACE?"
This SPACE lasted for a month from preparation to convening, and there were many highlights:
In less than 30 minutes after the start, there were numerous posts across the entire network, and the audience gained a lot!
The actual number of listeners at the end was 11,000.
Several guests have different professional fields, and the practical gains were significant. I personally gained a lot and upgraded on the spot.
The host media @followiniozh responded quickly and released multiple newsletters during the SPACE, which was very professional. This is also the second SPACE organized in cooperation.
The host @Web3Nina is quite professional and did a great job!
The last question in yesterday's SPACE was about several coins, among which I mentioned $zeta. Due to time constraints, I only briefly mentioned it, so I will elaborate here:
First, narratively: the battle between chain abstraction and modularization.
The ETH ecosystem is primarily L2, with many different ones on the left and right.
Then there are various DA layers, and it is inevitable that liquidity will be cut off. If you want to arbitrage a native dog, then play some defi on op, or buy a hundredfold coin on base, your eth will have to cross back and forth.
Now, the modularization battle even involves the underlying architecture of L2.
Chain abstraction means that users no longer need to care about which chain they are using, as long as they use the app. Regardless of whether it's ETH, arb, sol, users won't feel it at the user level.
This makes people feel: it should have been like this from the beginning!
This is a very good narrative!
As for whether it can succeed, as a speculative coin trader, it's better to look at it from multiple angles.
Second, the battle between OKX, Coinbase, and Binance
MENTA, ALT, and TIA are all related to the concept of modularization. Binance has gained a lot of traffic in this wave, while OKX not only did not get ahead of the first two, but the listing of ice even sparked controversy, and its recent performance has been lackluster.
Zetachain is the most eye-catching project recently launched by OKX!
From Xu Mingxing's perspective, jumpstart must have a bright spot project. Is this a possibility? (Note: there will be further discussion on trading techniques and some possible evidence later).
From the current projects, only zeta has this possibility. Therefore, OKX does not rule out researching and discussing with the project party and market makers on how to list the coin.
The project's capital side seems to be jump, which is also the market maker for TIA. I may not remember correctly, but public information is easy to find. I'm too lazy to check, so everyone can verify it themselves, which is not very important.
After all, as I have said: technology is not worth mentioning, consensus value is worth a thousand gold.
The project's financing amount is 27 million, and the comprehensive strength of the capital side and other aspects is not as good as TIA. However, the benefit is that Coinbase has also synchronized.
In my opinion, Coinbase represents the power of Wall Street. @tmel0211 mentioned yesterday that after the ETF is approved, the power of Wall Street will enter, or similar statements, which is very interesting.
But even if the above situations are not valid, listing on OKX and Coinbase should not be much weaker than listing on Binance.
In addition, there is information from an unknown source in the group that the zeta project has offended Binance and may not be listed. But I think as long as the fundamentals are good, Binance should not do this now.
However, I can observe that MENTA and ALT are not listed on OKX. Could it be that the industry is now engaging in a similar exclusive protocol battle like the Tencent vs. 360 battle? Then will Zetachain also not be listed on Binance?
I don't know much about this information gap. If you know something, please help to supplement.
Third, token circulation and selling pressure
The total chip count of the project is 20 billion, with a circulation of 11%. Within this 11%, only 4.5% is airdropped, not including those accounts that only received 1 coin. I don't know how many there are, but it seems that the airdrop is very strictly controlled—I saw angry players in my comment section who only received 1 coin wanting to talk to the project…
If the circulating chips are around 80 million, assuming half are sold, then the selling volume is 40 million. The opening price dropped from 0.9 to 0.6, then returned to 0.8 (my purchase price). OKX's 24-hour trading volume is 100 million (this is probably the largest new OKX trading volume in recent memory, and I think the market makers have a large share here).
Considering the simultaneous listing on other exchanges besides CoinShares, if the average selling pressure for each exchange is between 3 million and 20 million, then on average, combined with a large trading volume several times the selling pressure, and the price is rising, it indicates that the asset is quite popular in the market.
The risk is whether the market makers might directly lower the price at the opening to obtain chips at a lower price. This depends on whether they dare to go against the community sentiment—they also need to evaluate the risk of not being able to recover the chips, and consider the background of the bull market, as well as the possibility that OKX may not want them to do so now. Moreover, if they do so now, I think it would be fatal for the project.
There are many uncertain speculations in this, but where is there certainty in investment? It's better to continue to look for certain information.
Fourth, comparison of valuations between similar public chains and narratives
The current situation of the chain abstraction track is not just zeta, the previous old public chain NEAR also wanted to create this concept, but I see that the circulation is close to 100% already. The problem with this old coin is that I don't know if the project party still has the motivation to do things?
I have already commissioned a great god to further study NEAR, after all, NEAR's technical strength is still acceptable, but the difficulty lies in knowing how much willingness and ability you have to participate in a new narrative. There are old coins that have been reborn in this industry, but not many—SOL is the most eye-catching among them, but compared to that, NEAR has not experienced such a big fud, and the wash is not as thorough as SOL.
Currently, NEAR ranks 37th on CMC, while zeta ranks 2293. From the perspective of trading new coins and not old ones, I think zeta will be more interesting.
In addition, there is also Dappos supported by Binance, which is intended for trading intentions. I won't comment much on this for some reasons. However, I used gmx on it before, which didn't attract me much. I have never quite understood its implementation logic. Why don't I just go to the original chain's gmx? But that was a long time ago, there may have been major changes now, and it hasn't been issued yet, so everyone can pay attention to it.
Fifth, comparison of valuations between similar public chains
Tia has a circulation of 2.7 billion, a total circulation of 17.2 billion, and ranks 33rd on CMC.
Manta has a circulation of 750 million, a total circulation of 3 billion, and ranks 84th.
Alt has a circulation of 370 million, a total circulation of 4.5 billion, and ranks 133rd.
Arb has a circulation of 2.2 billion, a total circulation of 17.3 billion, and ranks 39th.
Op has a circulation of 2.7 billion, a total circulation of 12.8 billion, and ranks 31st.
Zeta has a circulation of 370 million, a total circulation of 3.5 billion, and ranks 2293rd (possibly incorrect data? Too low).
When comparing Zeta with other public chains and narratives, it is a new concept, and it seems difficult to directly benchmark against any one, which is actually a bonus point. People can remember one narrative, and that one will have a bonus.
Modularization: Tia
Chain abstraction: Zeta
Old L1: SOL
Restaking: Eigenlayer
And so on.
In addition, among the above, Manta's first wave of airdrops was distributed in two installments, and the other half will take some time to be distributed. The other chains have distributed almost all. As for Zeta's airdrop, as I mentioned earlier, take a look at its release schedule. What the community actually received was 4.5%—even if it all gets dumped, there will only be 80 million coins.
With this chip structure, if I compare it to a coin, you may have a better understanding. OKX previously listed a coin called bigtime, which also had very little actual circulation. After the opening, it rose so much that everyone said OKX listing coins was awesome, and Binance was quite passive at the time.
After the opening of bigtime, I bought a little and sold it after doubling. Later, it rose so much that I was very sad, so I have a strong impression.
Bigtime went from 0.05 to 0.92, nearly 20 times. Does anyone know which market maker it was? I'm too lazy to check.
Now, the chip release of this coin is very familiar to everyone compared to bigtime…
Finally, remember to pay attention to @followiniozh. They will be undergoing a very large upgrade recently, and the official account will become similar to Wu Shuo, only releasing the most important dry goods and exclusive articles.
Several guests:
Zhang Xiaoyu @xiaoyuz, a well-known hedge fund manager, business researcher, and former CEO of a startup company.
Chen Jian @jason_chen998, an independent researcher, a strong player in Crypto investment research, and an advisor and builder of multiple protocols and DAOs.
Haotian @tmel0211, former Amber researcher, I think he is the strongest man in the Chinese circle.
Zhongbensuan @KillerWhalesDAO, a mysterious organization, low-key great god.
And professional host, the talented @Web3Nina
Finally, I sigh: Brothers, I have really upgraded and become stronger again!
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