CoinNet Report:
1. MEME tokens thrive on sentiment. If we prioritize ecosystem development, how are they different from altcoins? Valuing a token based on sentiment versus ecosystem reflects two distinct value judgments:
Sentimental value yields short-term effects, while ecosystem development generates long-term impacts. Few things driven by sentiment can endure or sustain over time. Bitcoin is widely recognized within the crypto ecosystem for its strong emotional value and broad consensus. However, its journey from inception to today has weathered numerous brutal bear markets and crashes, far from a smooth ascent.
Assets like Bitcoin, characterized by robust core values and a unique narrative, continually generate emotional value, foster consensus, and repeatedly set new highs despite periodic troughs. Such projects can endure without necessarily relying on a developed ecosystem.
But what about other tokens? Without ecosystem support, most tokens reliant solely on sentiment are likely constrained by the duration and intensity of short-term emotional effects. The longevity, strength, and price spikes driven by short-term sentiment are unpredictable.
Therefore, regarding MEME tokens, if I see only sentimental value without ecosystem development, my involvement would resemble playing a game, experiencing community atmosphere, and resonating with value, akin to gambling. Based on personal feelings, I might exit once prices reach a certain height, indifferent to gains or losses, and avoid substantial investment.
Conversely, if I observe MEME backed by a strong team leading continuous development and promoting ecosystem growth, I would seriously consider its future prospects and potential for long-term holding, rather than reacting to short-term price fluctuations.
2. Can altcoins stage a comeback? If ‘altcoins’ refer to coins other than Bitcoin and Ethereum, their resurgence depends on project development. Continuous progress and construction may revive their fortunes, at least raising prices from current levels. Many DeFi projects, continuously evolving, exemplify this potential.
However, tokens of projects stagnating for extended periods face uncertain futures.
3. How about ZETA and CEL tokens?
I have limited knowledge of CEL tokens. Regarding ZETA (ZetaChain), my previous assessment remains moderate. Recently, articles discussing chain abstractions mentioned both ZetaChain and another network, Particle Network.
Both ZetaChain and Particle Network are projects within the domain of chain abstraction, aimed at enhancing user experience by simplifying blockchain use across various chains through a unified interface.
Comparing ZetaChain and Particle Network from a chain abstraction perspective, I lean towards Particle Network. It addresses critical Ethereum ecosystem issues, particularly those concerning second-layer extensions and chain abstraction. This is not only an urgent issue for the Ethereum ecosystem but also crucial for its future mainstream adoption.
Technically and in terms of effectiveness, Particle Network seems more promising compared to other projects tackling main chain abstraction across various blockchains, which face greater technical challenges and potentially offer less impactful results.
Therefore, when considering ZetaChain, Particle Network comes to mind.
Join us this Saturday, July 6th, at 8 PM for an online discussion on Twitter. Feel free to engage with questions via the following link:
https://x.com/DaosViews/status/1808011332572401813
