Loader
logologo
Alpha Zone
Analysts
My Reading List
Log in
DeFiGaming & MetaverseInfrastructureMarketsNFTs
$TON and web traffic, Macro insights, and BTC Trading
Shaun Ko
main
Key Takeaways
4 min read
  • TON Web Traffic and Potential: Members noted TON's high web traffic due to Telegram's user base but expressed concerns over its limited DeFi and NFT activity, stressing the need for more on-chain usage.
  • Symbiotic TGE Timing: Members speculated on Symbiotic TGE's timing, aiming to position ahead of the announcement, possibly before EigenLayer.
  • FTX Bankruptcy and Economic Outlook: Members discussed potential crypto liquidity from the FTX bankruptcy in Q4 and saw a slowdown, not a recession, due to Federal Reserve policies.
  • Bitcoin Price Predictions: Members had mixed views on Bitcoin's price, debating a retest of previous lows and skepticism about a September bounce.
  • NFT and Degen Bets: Members talked about Zynga selling Sugartown, BERRY's price surge, and a potential cabal coin as a quick investment.
Source: Nansen Query

Community Channels

War Room

Discussion on TON's Web Traffic and Potential

  • Members noted that TON has significantly more web traffic than other major cryptocurrencies, including BTC, ETH, SOL, BNB, and AVAX.
  • One member opined that this could be due to the large user base of Telegram, who might be interested in TON due to its association with the messaging app.
  • The potential of Telegram users who have never bought cryptocurrency before was highlighted, along with the possibility of a Telegram crypto wallet.
  • Another member suggested that while TON might have more web traffic, it lacks the depth of DeFi, NFTs, gambling, and speculation that other Layer 2 platforms have.
  • The same member also mentioned the issue of locked TON tokens that were sold to larger institutional players and the importance of ecosystem use and demand in driving economics.
  • In response, it was clarified that the web page in question was for TON chain, not the Telegram app, so the traffic would be from people interested in the chain rather than the messaging app.
  • Members also discussed potential metrics to look at, with suggestions including active/new wallets, actual usage on-chain, revenue accruing to DApps, and sentiment analysis.

Symbiotic TGE Insights

  • Members discussed the potential timing of the Symbiotic TGE, with one member seeking insights to position themselves well prior to the announcement.
  • They referred to the Symbiotic announcement and speculated whether Symbiotic and Karak might decide to launch before EigenLayer.

FTX Bankruptcy

  • One member inquired if anyone was receiving money from the FTX bankruptcy, and the potential implications for a liquidity injection back into crypto in Q4.

Tokens Trading

Economic Outlook and Federal Reserve Policies

  • Members discussed the current economic situation, comparing it to past financial crises. They agreed that there is no impending financial crisis, but rather a slowdown engineered by the Federal Reserve to control inflation.
  • Members expressed skepticism about a recession in the U.S., citing upward revisions to Q2 GDP and the current stimulus mode of U.S. fiscal policy. They also mentioned the weakening USD, which could help exports, and the strength of the services sector despite weakness in manufacturing.
  • The discussion also touched on the Federal Reserve's sensitivity and forward guidance following the COVID-19 pandemic, suggesting a possible soft-landing for the economy.

Bitcoin Price Predictions

  • Members shared their views on the potential for Bitcoin's price to drop to retest previous lows. Some members suggested that a retest of the August 5th lows ($48k) might be possible, while others thought a drop to $44k seemed extreme.
  • Some members remained skeptical about a bounce in the BTC price, with one member sharing a tweet about BTC and ETH's September seasonality. The tweet highlighted past negative monthly returns for both BTC and ETH in September and noted the upcoming FOMC meeting in the third week of the month.
  • There was light-hearted discussion about the "fifth week" of September, which was interpreted as the end of the month or early October.
  • One member mentioned that their systems were signaling a "risk off" scenario, and that they had taken profit on 80% of their short position, with buy orders placed in the low $50k to mid $40k range.

NFTs

Discussion on Sugartown Acquisition

  • Members discussed the recent announcement that Zynga sold its Sugartown assets to the team at D20 Labs. The announcement was shared via a link from X.
  • There was speculation about the potential success of Sugartown under its new ownership. One member had previously believed that the Zynga brand name would contribute to its success, but was uncertain following the sale.

Degen Bets

BERRY Trading

  • A member mentioned a significant price increase on BERRY, expressing regret for selling at 2.5 million.
  • The member also hinted at rumors that the developer is connected to OpenAI and took the name from a project being worked on by OpenAI.

EtherVista

  • A member shared a link to a potential cabal coin that was recently promoted. The member suggested it could be a quick investment opportunity. Dexscreener link
  • The same member also mentioned seeing Pow following the potential cabal coin.
  • The member also shared that Sandra followed the coin.
  • They also noticed Zeneca and inversebrah following the page.
  • Another member shared a Dexscreener link showing a wallet that bought 5k, sold 189k, and has 524k left. Dexscreener link
  • Another member responded by saying they faded it at approximately 200k mcap, expressing that it's not that special, just a univ2 fork that pays native eth fees.
  • The same member also suggested that cabal picked it up and ran with it randomly.
You might also like
Article cover
War Room 1 - May 27th, 2024
Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.