Bitcoin Ordinals’ skyrocketing activity has been a strong driver of Bitcoin fees, surpassing Ethereum in daily revenue for the first time since 2020. With this in mind, $ORDI might be the best bet on the growing BRC-20 sector that has just reached a $3B market cap.
Other riskier $BTC DeFi plays include $TRAC, the 'Chainlink of Bitcoin,' $MUBI, a bridge between EVMs and Bitcoin, and $BSSB, a stablecoin backed by $BTC and BRC20 assets.
Although very unlikely to occur, the recently proposed update by a core developer to censor Ordinals transactions could be bearish for BRC20s, and a community migration to the SRC20 standard could happen, which would be positive for $STAMP and $KEVIN.
As the demand to participate in Bitcoin grows, the need for scaling solutions arises, strongly benefitting $STX, which has the Nakamoto Upgrade in Q1 24’ that will reduce block times to only 5 seconds.
$SNX Andromeda, one of its largest upgrades, will happen in December, featuring the full V3 rollout, Base launch, and revenue share through buyback & burn. Additionally, there are ongoing governance discussions to end $SNX inflation, and Infinex, a completely novel decentralized exchange with CEX-like features, is expected to launch soon.
As new rollups emerge, the need for data availability becomes as evident as ever, highly benefitting $TIA, the project that stands at the forefront of it and which most rollups use. The fact that token unlocks only happen within one year from now also makes it attractive.
$RBX, one of the leading perpetual exchanges on trading volumes over the past months, will start its revenue-sharing program in Early 2024, and, as one of the largest Starknet Dapps, it might be a good proxy for the upcoming $STRK airdrop as attention shifts to the ecosystem.
The $FXS halving will take place on December 20th. There are also other upcoming catalysts, such as the launch of Fraxchain in January, where $frxETH will be the native gas token, and the launch of BMM, a novel oracleless lending mechanism.
The Spot $BTC ETF decision is expected to be no later than January 10th, with analysts predicting a high likelihood of approval.
The DOGE-1 SpaceX Moon Mission, fully funded in $DOGE, is expected to happen in January, and its 10th anniversary also happens on December 6th.
The Arbitrum STIP Backfund proposal was approved, and $GNS stands as the largest grant receiver with 4.5m $ARB, which will mainly be used as trading incentives. This should significantly drive up volumes over the next weeks and, consequently, $GNS staking APR.
With the recent FTX approval to sell $1B worth of Grayscale trust funds, we might see the $GBTC discount widening in the short term, potentially marking a bottom on it since the gap is expected to close with the anticipated conversion to a spot $BTC ETF in the next months. Also, the recent crypto rally coupled with the potential FTX Relaunch in 2024 boosts the chances of creditors being compensated, giving $FTT a positive outlook
$SYS might also be a good, less-known, $BTC beta with its own Bitcoin Layer 2 solution Rollux, which has $SYS as its native gas token
$APE staking rewards will end on December 15th, and there are discussions to create ApeChain, an Ethereum L2 built on the Optimism Stack with a grant of up to 20M $OP
Following the successful proposal to cap $ATOM's inflation rate to 10%, its cofounder Jae Kwon has proposed forking the networking and launching a new $ATOM1 token.
The Polygon Connect conference starts on December 7th, and the $MATIC's founder has hinted at significant announcements on December 14th and 20th
$KAVA 15 upgrade will take place on December 7th, effectively reducing the inflation to zero
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