The bull run is on! We had a small pullback last week, but we’re on track again. Remember, during the last bull run we saw three major pullbacks. So, they are natural.
We’re still in the first phase of this bull run. Looking at past bull runs, we still have a few more months of upward trends. Now, during these bull runs, BTC profits tend to flow back to altcoins. The first coins to profit from this are usually in the top 100. So, let’s take a closer look at what my research team and I found.
1) Celestia (TIA)
My first pick of today’s altcoins is Celestia (TIA). There are loud rumors that TIA is the SOL of this bull run. To put this in perspective, SOL went from $28 in July 2021, to $259 in November 2021. For convenience’s sake, let’s call this a 10x. Currently, TIA is at $13.18. After its TGE, it sailed straight into spot #42 in the top 100 list by market cap. So, a 10x will put it at around $130-140. It wouldn’t surprise me if it did better.
We are very excited to have @CelestiaOrg in the Arbitrum Orbit ecosystem 🪐💙
Now, everyone can easily deploy a high-throughput Orbit chain on Arbitrum Sepolia using Celestia as modular data availability leveraging Nitro’s fraud proofs 🏎️! https://t.co/Xh6FAworzP
— Arbitrum (💙,🧡) (@arbitrum) December 19, 2023
But what is Celestia? It’s a modular blockchain. That means that it outsources specific tasks. For example, it can specialize in one of these:
- Execution layer.
- Consensus layer.
- Data availability layer.
- Settlement layer.
The other layers it outsources. It cuts everything up into smaller parts. It can exchange or replace these. So, in contrast to monolithic blockchain, that completes these tasks all by itself. As a result, a modular chain is fast and scalable. Developers can also easily customize modular chains.
Curious to learn how #Celestia reduces gas fees by 100x? 🤔
Hear from our co-founder, @superanonymousk, and @musalbas, co-founder of @CelestiaOrg.
The future is modular on #MantaNetwork with Celestia underneath.
Watch the full interview here 👉 https://t.co/yYfl33jUwi pic.twitter.com/vQuCcW1Mk8
— Manta Network (🔱,🔱) #MantaNewParadigm (@MantaNetwork) December 18, 2023
The TIA token saw an airdrop only a few weeks ago, in early November. 8th. So, now it seems to only know one way, and that’s up.
2) Avalanche (AVAX)
Avalanche is one of the supposed Ethereum killers. Although I doubt that one specific chain can ‘kill’ Ethereum. However, having plenty of cheap and fast alternatives around doesn’t hurt. Avalanche is such an alternative. I prefer to use these alternative chains, like Solana and Avalanche.
NEW POD on Avalanche 🔺
00:59 Why Avalanche exists
09:38 Creating optimized chains
16:30 Subnet economics
25:56 Endgame vision for subnets
36:40 Next gen L1s
40:20 Warp: cross subnet messages
48:02 HyperSDK
51:37 Dev adoption and dapp layer innovation
1:03:06 Future of… pic.twitter.com/FGqsthE3ub— Yano 🟪 (@JasonYanowitz) December 19, 2023
AVAX, Avalanche’s native token, saw a recent uptrend. It went from $10 in October to a current high of $42 on 12th December. That’s an easy 4x before the bull run is even in full swing. Its ATH is at $144 from 2 years ago. So, from October, that would be a 14x. And it’s deflationary!
But why is AVAX running rampant? There are two words for this, institutions and gaming. Three different banks mentioned Avalanche and its Avalanche Evergreen Subnet.
- J.P. Morgan.
- Citi.
- Bank of America.
This year was great, but @GamingOnAvax is about to level up in 2024 🫡 pic.twitter.com/26I88bb0pH
— Avalanche 🔺 (@avax) December 5, 2023
As for gaming, Avalanche seems to have become the haven for blockchain gaming. Currently, DeFi Kingdoms has the biggest market cap with $55 million.
3) Cosmos Hub (ATOM)
Cosmos is the layer zero for this ecosystem. All other layer 1 blockchains are built on Cosmos. The Cosmos Hub offers the infrastructure. Altogether, they form the IBC, or Internet of blockchains. The map of zones currently shows 73 zones, and more are incoming. The Cosmos ecosystem seems to be on fire currently.
IBC 2023 Recap 💥
Highlights:
– 107 connected chains
– 124 Github contributors to main IBC repos
– 1,742 PRs merged
– Dozens of features, apps, tools
– DevX and usability improvements
– Expansion to new ecosystemsThanks to the builders and community for advancing IBC. 🧵
— IBC (@IBCProtocol) December 20, 2023
During the last 7 days, TIA, KUJI, INJ, AKT, and OSMO, are all up to 60%. Jackal (JKL) and Stargaze (STARS) are up over 100% over the last 7 days. So, ATOM seems to be lacking a bit. It’s only up by 13% over the last 7 days. However, it made a recent move, and I won’t be too surprised if this is only the beginning.
Recently, we saw governance approve proposal 848. This cut inflation from 18% to 13%. However, that’s also when ATOM started to move. Keep your eyes out for potentially more green candles here.
2022 → 53 IBC-enabled chains.
2023 → 107 IBC-enabled chains.1 Year. 1 Mission. 102% Growth.#IBC pic.twitter.com/zDrG7KbYpz
— IBC (@IBCProtocol) December 15, 2023
4) Ordinals Coin (ORDI)
You may have heard of the Ordinals. In other words, inscribed Satoshis. Indeed, the smallest BTC domination.
By inscribing them, they become NFTs. However, they are also a coin, and you need a specific wallet for them. One that can distinguish between an inscribed Satoshi and a ‘normal’ Satoshi. You would rather not send your valuable Satoshi accidentally to someone else.
Huge shoutout to the Ordinals core team for taking the important step of forming the Open Ordinals Institute!@ordinalsorg is a 501(c)(3) non profit organization which will fund development, education, and research around the Ordinals Protocol. pic.twitter.com/39IOgVh9EC
— Leonidas (@LeonidasNFT) August 1, 2023
With the Ordinals protocol, we can inscribe 2.1 quadrillion Satoshi. So still, plenty of room to maneuver. The Ordinals and various other inscribed Satoshi are about to explode. Ordinals are the OG NFTs on Bitcoin. They are also the first BRC20 token that went through the $1 billion market cap barrier. ORDI did a 180% increase during the last 30 days.
5) Ronin Network (RON)
Ronin Network is a sidechain built on Ethereum. It’s a gaming chain. Sky Mavis is the company behind Ronin. They are, for example, also the core developers of Axie Infinity. That’s been by far the most successful blockchain gaming game to date.
1/ The Ronin Effect strikes again – Apeiron is LIVE on Ronin!
• Download the game on the Epic Games Store
• Check out four new collections on Mavis Market
• Join or watch PvP Alpha Testing, mint new Apostles, and receive FREE Booty Hours— Ronin (@Ronin_Network) December 18, 2023
There’s also the Ronin bridge. You may remember that from the massive hack, it endured to the tune of $650 million. However, Axie says that all victims would be imbursed. But, that’s behind us and the Ronin Network and its RON token have been taking off. Over the last 30 days, we saw a 113% price increase. However, over the last year that was 503%. Blockchain gaming is one of the many verticals during this bull run.
The moment we have all been waiting for.
Today, we set in motion a series of events that will change the nature of digital collectibles… forever.
Part Evolution is here ⚔️ https://t.co/HTxTbVtfOl
— Ronin (@Ronin_Network) December 20, 2023
However, it’s one that’s expected to do exceptionally well. This could well be only the start of a remarkable bull run for the RON token.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
