“Should have bought” is a news podcast with the editors and friends of ForkLog about the main industry events of the week and the “hottest” tokens.
In the new issue: Ethereum is “flirting” with the $3,000 level, experts are talking about the beginning of the altseason, the head of EigenLayer refutes rumors about the launch of a token, record amounts are flowing into crypto funds, the market expects Bitcoin at $60,000.
Contributed by: ForkLog Lena Jess, Alex K., Vasily Smirnov.
Special guest: Maxim, technical director of Envelop.
Airdrop StarkNet
On February 20, the team of the second-level Ethereum network StarkNet unlocked 728 million STRK tokens (7.3% of the issue) for more than 1.3 million wallets as part of the airdrop.
Early users of StarkNet and StarkEx, as well as members of the Ethereum community, including EIP authors and some developers, were eligible for the distribution.
Traditionally, for most airdrops, users have encountered errors and network congestion when branded STRK.
Trading on the largest exchanges began in the range of $5-7, after which the rate fell through the $2 level.
The project team took into account user criticism and adjusted the tokenomics. As a result, the STRK token increased by 15%.
Hype around EigenLayer and its “brothers”
Restaking protocol EigenLayer received $100 million in investment from venture capital firm Andreessen Horowitz.
The platform’s TVL is approaching $8 billion and many users are expecting a “fat” airdrop from it. The project has a points system for those who interact with the protocol. Many expect the conversion of earned points into a new crypto asset in the future.
However, EigenLayer head Sriram Kannan said that the team does not yet have concrete plans to launch a native coin.
On February 19, the TVL of liquid restaking protocols like EtherFi, Renzo and Puffer reached $3.67 billion. These platforms provide users with the opportunity to stake LST assets through EigenLayer.
Has the altseason already begun?
While Bitcoin’s growth has slowed, the second-largest cryptocurrency by market capitalization has nearly reached a two-year high of $3,000. Some industry analysts have predicted the onset of altcoin season.
A trader under the nickname Mikybull Crypto noted that March has always been an optimistic month for Ethereum. He also predicted a “huge altseason cycle.”
Amberdata allowed Ethereum to grow faster than Bitcoin thanks to a “more constructive deflationary policy.”
The head of 10x Research, Markus Thielen, believes that there is no evidence of an altcoin season. In his opinion, to begin the corresponding phase of the market, “it is necessary to reduce the dominance of the first cryptocurrency below 45%.”
The market expects Bitcoin at $60,000
Bitcoin call options expiring at the end of June have concentrated above the $60,000 strike price, signaling bullish sentiment.
“The June call expiration is a good indicator of pre-halving sentiment and our charts show much more positive positioning. The put/call ratio is significantly lower in June – 0.28 versus 0.55 in March,” said Deribit commercial director Luuk Stryers.
A put-call ratio of less than 1 implies bullish sentiment, indicating greater interest in Bitcoin’s potential growth.
However, Stryers noted that after the halving in April, the market may face increased selling pressure and, as a result, a correction.
Subscribe to the podcast:
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-02-24 13:33:36
#StarkNet #airdrop #hype #EigenLayer #Ethereum #ForkLog
