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The financial market operates in such a way that longevity, not just experience or technical prowess, is the key. One must always have a reverence for the market. When prices drop, it presents an opportunity. Often, a knockoff token can surge 10 to 20 times due to the appearance of panic selling, which clears out chips and smoothens the way for a rally. If we talk about buying the dip, I still hold the same view as before: prioritize the underlying public chains. In the public chain sector, the larger the token chip supply, the better. Let's briefly explore a few cryptocurrencies suitable for bottom fishing during this pullback!
I. BNB
Binance Coin (BNB) is a token issued by Binance, abbreviated as BNB. It is a decentralized blockchain digital asset based on Ethereum. The total supply remains constant at 200 million, and BNB is burned quarterly based on the trading volume on the Binance platform for that quarter. The burn records will be publicly announced in real-time, and users can query them through the blockchain browser to ensure transparency until the total supply of BNB is reduced to 100 million.
II. SOL
SOL is the native token of the Solana blockchain. Solana uses the Proof-of-Stake consensus algorithm to incentivize token holders to validate transactions. As part of Solana's security design, all fees are paid in SOL and burned, reducing the total supply. This deflationary mechanism encourages more token holders to stake, thereby increasing network security.
III. DOGE
Dogecoin was initially created as a light-hearted version of Bitcoin, featuring the popular "Doge" meme (a picture of a Shiba Inu dog with inner monologue-style text) as its logo. Its founders did not expect this joke-based currency to be "favored" by Musk and eventually become the largest meme coin by market capitalization today.
Even if you're not part of the cryptocurrency industry, you've probably heard of Dogecoin from some media outlets. This is the Dogecoin that Musk claimed would be used as a payment method for Tesla and is also the starting point of the meme token craze. Through meme coins, people form communities around shared jokes, cultural moments, or socio-political sentiments, enabling them to participate in a digital expression form that goes beyond traditional financial mechanisms. Meme coins become symbols of shared identity or cause, and their value comes not only from market dynamics but also from the popularity of the values reflected by meme coins.
IV. ORDI
The smallest unit of Bitcoin is a satoshi (satoshi). One bitcoin can be divided into 100 million satoshis, each of which is sorted and assigned an ordinal number. Bitcoin engraving refers to using the Ordinals protocol to engrave content into satoshis. The information written can be text, images, videos, audio, etc.
The Ordinals protocol, which introduces the concept of data on Bitcoin, was launched in January 2023. However, it was not until the end of 2023 that people really began to try using data and Bitcoin NFTs to take off. Inscriptions first appeared in the Bitcoin ecosystem and were created by attaching data to a single satoshi on the Bitcoin blockchain. They are closely related to Bitcoin's native characteristics and emphasize fair distribution and decentralization.
V. TIA
Celestia is a modular blockchain that only sorts and publishes transactions without executing them. By decoupling the consensus and application execution layers, Celestia modularizes the blockchain technology stack and opens up new possibilities for decentralized application developers.
After experiencing a sharp rise at the end of the fourth quarter of 2023, Celestia (the market leader in modular blockchain infrastructure) has been oscillating and adjusting. As a leading project in the modular narrative, it is a good bottom-fishing target! |
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Post time 5-5-2024 12:29:00