ignas

In response to Vitalik's suggestion that Ethereum should prioritize strengthening its positioning as a value storage, DeFi researcher Ignas published a statement claiming that ETH may be more suitable as a value storage asset than BTC and ZEC. The advantages he mentioned include native staking rewards, privacy features in the roadmap, and potential deflation achieved through transaction fee burning.Ignas also stated that using BTC or ZEC as collateral to obtain loans typically requires reliance on wrapped assets or trust in banks and centralized exchanges, while ETH can achieve native collateralization and asset exchange on the same chain. He also expressed hope that Vitalik would shift towards the value storage positioning, not because he believes that Ethereum L1 will never generate enough transaction fee revenue to drive ETH deflation; scaling will reduce transaction costs, but the key still lies in whether market demand can grow in sync and whether the Ethereum community can drive demand enhancement.

DeFi researcher Ignas stated that during the current market downturn, the previously common "buy the dip" voices on social platforms have become rare. Although some market participants believe that Bitcoin holding the $77,000 to $80,000 range is bullish, most crypto traders may already hold a large amount of tokens, and some investors prefer to wait for price confirmation before buying, rather than bottom-fishing in panic. Assets like HYPE, which are decoupled from Bitcoin's movements, as well as belief-based tokens like ZEC and income-generating assets like HYPE still have appeal.However, there is currently insufficient potential buying interest. Retail investors who previously favored crypto assets are now impacted by the volatility of assets such as AI stocks, gold, and quantum computing, and the fund flow for cryptocurrency ETFs has turned into a net outflow over the past 30 days.

DeFi researcher Ignas stated that the popularity of Robinhood's ecosystem tokenized stocks and Meme coins is waning, with the TVL of Robinhood Chain's tokenized stocks remaining flat for two consecutive weeks, and the number of stocks destroyed has exceeded the issuance amount.Ignas further indicated that if trading volume continues to slow down, a decline in revenue may lead to weakened holding willingness, increased selling pressure, and cause LPs to exit, resulting in further liquidity contraction. He revealed that he has exited the Meme coin LP position due to a significant drop in yields and believes the market needs new catalysts to drive the trend again. He also noted that tokenized stocks on Solana seem to still be rising and speculated that the trend of funds shifting from Robinhood to Solana may be more sustainable.

DeFi researcher Ignas posted on X that Bankless founder David Hoffman sold his ETH and reallocated to several coins with the largest gains, such as LIT and ZEC, with NEAR also performing well, while only VVV underperformed the market. Although the market was filled with panic at that time, and it was very close to the bottom of ETH, the goal of aggressive crypto investors has always been to outperform BTC and ETH.Previously, it was reported that Bankless co-founder David Hoffman announced in June this year that he had liquidated his ETH and bought VVV, NEAR, ZEC, HYPE, and LIT.

Regarding Ethereum co-founder Vitalik's call for more and better DAOs, DeFi researcher Ignas published a rebuttal on the X platform, stating that DAOs are typically operated by three groups: core teams or foundations, professional delegated representatives, and whales. The existence of professional delegated representatives is due to the fact that most token holders neglect governance, with 95% of votes being related to technical upgrades, and someone needs to be compensated to pay attention to these matters.This tripartite alliance has flaws and systemic risks, such as the incident where COMP tokens worth $24 million were "legally" voted by the community to be transferred from the Compound treasury to a strange and unmonitorable multi-signature address in 2024, triggering a DAO governance attack. In theory, as long as the project founders decide to care about the DAO, everything is feasible, but many people simply do not care.

ChainCatcher message, according to the Web3 asset data platform RootData X tracking data, in the past 7 days, the gaming-related marketing platform SharpLink Gaming has been the project with the most new followers among X (Twitter) Top personalities. New influential figures following this project include cryptocurrency and NFT investor DCInvestor(@iamDCinvestor), NFT collector Gmoney(@gmoneynft), and DeFi analyst Ignas(@DefiIgnas).

ChainCatcher news, DeFi analyst Ignas stated that Solana is facing a critical turning point, as its transition from a monolithic blockchain to a modular architecture has sparked industry discussions.Ignas pointed out that this transition could affect Solana's positioning within the cryptocurrency community, with the key being whether the concept of "network scaling" can gain recognition. During this bull market, ETH is positioned between BTC and SOL. He believes that if Solana adopts a Layer 2 scaling model similar to Ethereum, SOL could become the new ETH. However, this depends on how the new architecture impacts the actual performance of the Solana ecosystem.Ignas warned that if Solana faces issues such as liquidity fragmentation, its position could become uncertain. Furthermore, speculators may turn to chase "network scaling" tokens within the Solana ecosystem rather than SOL itself, which could hinder SOL's price growth.