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Sean_kun0619

@seankun0619

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The main trends in the cryptocurrency market for Q2 2024 by CoinGecko: 1. Decrease in Spot Trading Volume on CEXs: The top 10 CEXs recorded a spot trading volume of $3.40 trillion, a 12.2% decrease from the previous quarter. 2. Increase in Spot Trading Volume on DEXs: The top 10 DEXs recorded a spot trading volume of $370.7 billion, a 15.7% increase from the previous quarter. This increase was mainly driven by the surge in meme coins and airdrops. 3. Meme Coins, AI, and RWA Leading the Market: Among CoinGecko's top 15 categories, these three accounted for 77.5% of web traffic. Particularly, meme coins garnered significant attention, occupying four of the top 15 cryptocurrency narratives. 4. Rising Popularity of DEXs: With the increase in meme coin trading, DEXs, which offer a wide variety of tokens and easy trading options, have become increasingly popular. This is the main factor behind the rise in DEX spot trading volumes.
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Considering the creation of a new service, the choice between creating a new L1 or an L2 is a crucial initial decision. Unlike PCs or smartphones, where newer technology is always better, this is not always true for blockchain. ⭐️ Network Effect In blockchain, the protocol that first achieves the network effect secures a first-mover advantage over latecomers. Trust, network effect, and branding function as a moat. That's why Bitcoin is still the No.1 Market Cap. ⭐️ The Uncopyable While you can copy the code of DEXs like Uniswap, you cannot copy the community or trust. Building community and trust involves improving the service, communicating with users, and making it more user-friendly over time. This is a growth process that cannot happen overnight. ⭐️ Conclusion Looking at the current situation, catching up to a first-mover service is not easy for newcomers. When entering the market now, it seems easier to focus on product development rather than creating a new protocol from scratch.
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🧐Let’s think about Hyperstructure today. ⚡️Hyperstructure⚡️: Crypto protocols that can run for free and forever, without maintenance, interruption or intermediaries. Blockchains have led to the emergence of a new type of infrastructure called “Hyperstructures”. There are the considerations of Hyperstructure. ①Unstoppable: the protocol cannot be stopped by anyone. It will run as long as the underlying blockchain exists. ②Free: The fee for the entire protocol is 0% and runs exactly on the cost of gas. ③Valuable: The value generated is accessible and executable by the owner. ④Scalable: incentives are built in for protocol participants. ⑤Permissionless: universally accessible and resistant to censorship. Builders and users are not excluded from the platform. ⑥Positive sum: Participants use the same infrastructure, creating a win-win environment. ⑦Trust neutral: the protocol does not select users.
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