Encryption researcher Yuzhongkuangshui summarized his outlook for the cryptocurrency market in June, including the scheduled Cancun upgrade in October, the development of LSD and LSDFi tracks, the impact of the Hong Kong “Guidelines for Virtual Asset Trading Platform Operators”, the development of the metaverse and AI, gaming platforms, and BRC20, among other things.
1) Cancun upgrade: Although scheduled for October, it may start early in June for promotion; 2) LSD and LSDFi: LSD is a long-term business, and currently ETH LSD is in a net inflow state with the end of withdrawal pressure. In addition, the LSDFi track is entering a period of high-speed development. My observation list includes PENDLE, AURA, LBR, and Prisma Finance, and I will actively follow up on Lybra Finance. In addition to Lido still dominating the LSD track, Frax’s growth rate is more obvious;
3) Hong Kong: “Guidelines for Virtual Asset Trading Platform Operators” will take effect on June 1st. Personally, I feel that its effectiveness will bring more selling behavior, and I will reduce some attention to Hong Kong concept tokens; 4) Computing power, Metaverse, and AI: I think computing power will be a narrative theme of the future world. RNDR is not directly related to AI computing power, but it can still benefit from it. The hype of AI wave for encrypted AI will become weaker and weaker, but trends of some AI applications can still be seen, similar to empowering some encrypted behaviors based on Web2 AI applications;
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5) Gaming: MOBOX has launched a dragon egg game, which started mining on June 1st with rewards in MBOX and MEC gems. It is not yet clear what the scenario for MBOX will be, but it should be related to the four games that Mobox plans to launch this year. Another game I’m interested in is Pixels, as well as MAGIC and BladeDAO, the Zksync gaming platform I mentioned before, but investment needs to wait until its game is released. In addition, BAYC may have some new moves in June, and my suggestion is to keep an eye on it; 6) BRC20: There is still some room for expectation, such as Binance’s listing of BRC20 tokens; 7) Derivatives DEX competition: My focus is on GMX and dYdX.
Reference: https://sleepintherain.substack.com/p/6
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