A Review of 17 Noteworthy Events in the Cryptocurrency Industry in January 2023
With the short-term rise of BTC, the crypto industry has seen a glimmer of hope from the oppressive bear market.From: Karl0x
Compiled by: PANews
What events in the crypto industry are worth paying attention to in the first month of 2023? Let's take a look.
- The season of liquid staking derivatives is here! LDO, RPL, FXS, SWISE, FIS, and ANKR are all liquid staking derivatives worth watching. As the Ethereum "Shanghai" upgrade approaches, the momentum of these tokens is expected to continue.
FXS is currently in a rather "interesting" position, as it has the highest annualized yield (APY) among liquid staking derivatives. This may be due to Frax holding a large amount of CVX and being able to earn incentives in the frxETH Curve liquidity pool. Therefore, FXS is expected to gain more market share in the liquid staking derivatives market, as its appeal is quite strong. Additionally, thanks to the recent halving (FXS halves every December 20), the locked amount of FXS has also seen a significant increase.
From both fundamental and technical perspectives, LDO also has considerable potential, but competitors may catch up at some point (for example, during profit conversion). In this regard, FXS and FIS may be LDO's biggest competitors, as they have already been listed on Binance, while other tokens have not yet been listed on exchanges.
BTRFLY is launching DINERO, a stablecoin backed by over-collateralized liquid staking derivatives.
DYDX will have a large-scale unlock on February 2, 2023, with 105% of the circulating supply allocated to investors and team members. To alleviate selling pressure and "thwart" early short sellers, the dYdX team is likely to announce before such a large-scale token unlock.
DCG Holdings: API3, HBAR, ZEC, FLOW, MANA—these tokens may be severely impacted as Genesis owes creditors $3 billion, including $900 million owed to Gemini Earn users, which may force DCG to liquidate its risk assets to raise cash.
The CRV team has confirmed that the CRV crvUSD stablecoin will be released in January 2023.
The public testnet for the AAVE GHO stablecoin will launch in January 2023, and it will confirm the establishment of a revenue-sharing mechanism with AAVE stakeholders. Additionally, V3 will also be deployed on Ethereum.
ATOM will enhance cross-chain security through a major upgrade, allowing smaller blockchains to inherit the security of the Cosmos Hub in exchange for ATOM.
The price rebound triggered by the Litecoin (LTC) halving may have already begun. The Litecoin halving will occur this August, but historically, prices usually start to rise several months before the halving.
The Ape BAYC minting will take place on January 18, 2023.
AI tokens: FET, VITD, NMR, OCEAN, CTXC, PHB. Reports indicate that Microsoft will invest $10 billion in OpenAI, and with the immense popularity of ChatGPT, all these narratives may drive the prospects of AI tokens.
SNX v3 has been released, and SNX has always aimed to position itself as a DeFi liquidity hub, potentially becoming a significant source of actual yield in DeFi, as Synthetix is expected to become a pillar in the decentralized derivatives space.
OP Bedrock will upgrade the testnet on January 12, 2023, aiming to reduce gas fees and allow the use of zero-knowledge proofs. Compared to other Layer 2 solutions, these improvements implemented by Optimism may make it stand out in 2023.
Deven Matthews, a researcher at the Ethereum client Nethermind, has initiated a proposal in the Uniswap community to deploy Uniswap V3 on StarkNet. However, the proposal does not mention issues related to fees accruing to UNI holders, primarily due to regulatory considerations. If the proposal passes, it is expected that Uniswap V3 will be fully deployed on the StarkNet mainnet before the second quarter of 2023.
The latest governance proposal from Fantom has passed, aiming to introduce a gas monetization plan for outstanding dApps. In addition to optimizing demand for block space, it will use a membership incentive-like approach to sustainably incentivize quality creators on Fantom and provide them with new revenue sources. Fantom currently has the highest "locked value/market cap ratio" among Layer 1s, and its founder, Andre Cronje, has returned to the project after leaving for several months.
Due to the de-pegging of the Waves ecosystem algorithmic stablecoin Neutrino USD (USDN), Waves has announced that it will rename USDN to Waves Ecosystem Index Token (WIXT). WIXT will be supported by a basket of Waves ecosystem tokens as collateral and will no longer be pegged to $1. Instead, the value of WIXT will fluctuate based on supply and demand and indirectly based on the backing rate (BR).
FLUX will halve on February 4, 2023.
SKL is integrating zero-knowledge proofs.
METIS and AAVE v3 will be deployed on Metis Andromeda.
