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New Opportunities in Young Layer 1s
During the long-lasting bear market in crypto, there have been several new dApps and blockchains built by amazing developer teams. These new projects received initial investment from popular VCs and they were offered by CEXs or DEXs accordingly.
Aside from the token sales, we have seen lots of airdrops in the market cycle. As we get closer to low interest rates and more engaging market times, crypto will get its deserved portion depending on the quantitative easing in the major economies.
What blockchains or dApps will grab the attention of the investors?
There is no doubt that the Ethereum Layer 2 chains will grow the trading volume, total value locked on them and the revenue of the blockchains. Even though everything sounds astonshingly bullish, we need to consider the boundaries that they can reach.
First of all, expecting another 10x may not be a sound idea since their market capitulation might have reached a high level already. If it sounds confusing, imagine expecting another 5x from Bitcoin in a market cycle. This cannot happen since the category of the coins is no longer small or mid cap.
SUI and APTOS, on the other hand, expect the next bull market to experience the first bull cycle of their entire history. As they were born in a bear market, the sell pressure on the projects had been really high. Nowing that they own a huge potential as L1s with Move coding language, blockchain research, bug bounties or cross-chain incentive system are very popular on these chains. Recently, SUI and Binance collaborated on blockchain research project to airdrop tokens to BNB holders that contribute to the exploration of SUI.
Similar to SUI Academic Foundation's $500K research grant, TON chain is doing its best to keep its Tap to Earn hype dynamic.
TON, the blockchain by Telegram team, aims to be the everything app that people use. For this purpose, the team does not hesitate to open new incentive programs to those who want to move their projects to TON network. A couple of week ago, a popular blockchain - based project, Hamster Kombat announced its migration to TON chain.
Yesterday was another big day for TON blockchain as Binance integrated Tether deposit and withdrawals on TON network. The use of USDT on gaming and every day activites on the network will be another catalyst of the growth of the blockchain.
The eyes are on Ethereum due to the expected spot Ethereum ETFs' launch. Aside from the narrative of Ethereum, altcoins are always the most rewarding in a bull market since they have a limited market capitulation and more room to get the hype on themselves. TON, SUI, APTOS and SEI are here as strong Layer 1 projects.
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