Core Viewpoint - Public chains are considered the "trust infrastructure" of the digital world, making them a worthy investment due to their foundational role in Web3 and their characteristics of decentralization, transparency, and smart contract execution [1] Investment Logic: Three Dimensions to Filter Potential Public Chains - **Technical Route**: Innovations that address the "impossible triangle" are crucial for public chains [1] - **Ecosystem Vitality**: Growth in developers and users is key to the success of public chains [1] - **Business Model**: Revenue generation and token economic models are essential for sustainability [1] Key Characteristics of Public Chains - **High Technical Barriers**: Public chains are the source of blockchain innovation, with technological iterations directly impacting industry dynamics, such as Ethereum's transition from PoW to PoS [2] - **Strong Ecosystem Network Effects**: High migration costs for developers and users create a "moat" for leading public chains, with Ethereum holding 70% of DeFi's Total Value Locked (TVL) [2] - **Policy Dividend Window**: As global regulations become clearer, compliant public chains are expected to have long-term growth opportunities, exemplified by Polygon's collaborations with financial institutions [2] Performance and Ecosystem Insights - **Modular Architecture**: Celestia focuses on the data availability layer, reducing Layer 2 development costs, with a projected market cap growth of over 200% by 2025 [3] - **High-Performance Optimization**: Solana achieves thousands of transactions per second (TPS) through Proof of History (PoH), with DEX trading volumes expected to surpass Ethereum multiple times in 2024 [3] - **Security and Decentralization**: Ethereum's sharding and Danksharding technologies could theoretically increase TPS to 100,000 by 2025, while reducing gas fees by 90% [3] - **Developer Community**: Ethereum boasts the largest developer community globally, with over 48 million smart contracts and more than 3,000 ecosystem projects [3] - **User Activity**: Solana has surpassed 1 million daily active addresses, with growth in on-chain gaming and high-frequency trading users [3] - **Cross-Chain Interoperability**: Polkadot and Cosmos are enhancing multi-chain ecosystems through the Inter-Blockchain Communication (IBC) protocol, with cross-chain DeFi TVL expected to exceed $20 billion by 2025 [3] - **Block Space Sales**: Ethereum's gas fees and EIP-1559 burning mechanism are projected to generate over $450 million in revenue by 2025, showcasing significant deflationary effects [3] - **Application Layer Fees**: Arbitrum, as a Layer 2 solution for Ethereum, is expected to capture transaction fees through Optimistic Rollup technology, with TVL projected to exceed $50 billion by 2025 [3] - **Ecosystem Subsidies**: BNB Chain leverages exchange traffic to maintain user engagement through token buybacks and burns [3] Individual Public Chain Analysis - **Ethereum (ETH)**: Recognized as the "operating system of the digital world," it has a clear technical route, deep ecosystem moat, and high institutional recognition, with risks including increased competition and regulatory uncertainty [5] - **Solana (SOL)**: Known as the "king of high-frequency trading," it offers high TPS and low gas fees, with risks related to centralization and network stability [6] - **Arbitrum (ARB)**: Positioned as the "core of Ethereum scaling," it benefits from EVM compatibility and leads in Layer 2 TVL, with risks tied to reliance on Ethereum's mainnet security [7] - **Sui (SUI)**: A "Move language innovator," it enhances transaction parallel processing and aims for significant growth in ecosystem projects by 2025, facing challenges in market education [8] - **Celestia (TIA)**: As a "modular infrastructure pioneer," it provides a data availability solution that lowers Layer 2 development barriers, with a projected market cap growth of over 300% by 2025, though it faces maturity challenges [9] Shift from Performance Competition to Ecosystem Collaboration - The competition among public chains has evolved from mere performance optimization to a deeper integration of technology, compliance, and the real economy [12] - **Cross-Chain Connectivity**: Polkadot and Cosmos are driving multi-chain ecosystem interoperability, with cross-chain DeFi TVL expected to exceed $20 billion by 2025 [12] - **Compliance Adaptation**: Exchanges like Messiah are providing secure entry points for institutions through compliance frameworks, promoting the mainstream adoption of DeFi [12] - **Integration with Real Economy**: Akash Network is integrating decentralized physical infrastructure networks (DePIN) to tokenize real-world assets like charging stations and solar power plants, facilitating the digitalization of traditional industries [12] Conclusion - Public chains represent the "trust infrastructure" of the digital world, with investment focus on technological iterations, ecosystem vitality, and compliance processes. Short-term opportunities lie in modular solutions (Celestia), Layer 2 (Arbitrum), and high-performance chains (Solana), while long-term prospects favor the continued evolution of the Ethereum ecosystem. The collaboration between Akash Network and Messiah Exchange highlights the potential for technological implementation and compliance adaptation [13]

“NFT szn is almost here I can feel it”Denise 🤌🐾🇮🇹 (@NoDMsPerfavore):What’s this yoga pose called? https://t.co/QibkmPS2nG ...

The next 5 NFT Strategies come on MondayThen 5 more the following weekThen daily auctions for new strategies 👀All of which send fees back to PNKSTRBullishAdam (@Rhynotic):a north star vision for NFTStrategy and $PNKSTRtl;dr - every project needs a strategy. @token_works is building that foundationaudits - audits are wrapping up, performed by @0xleastwood. there were no critical findings, but minor fixes and improvements have been applied to ...

Join the @asx_capital community by picking up a yield-bearing NFT on @BlockzGG - Monthly yield airdrops, no claim process required... 👀👇ASX (@asx_capital):Hold an NFT, earn RWA yield in the form of a monthly airdrop. 💰It's that easy.Get yours now 👉 https://t.co/0T3sWSt3Ug*APR represents current floor price* https://t.co/ztxK5bYf4D ...

The O'Ruggin Trail is now playable on Cartridge's Katana devnet.Today, we explore how this fully onchain text adventure is turning game saves into tradable stories and pointing toward new possibilities for onchain gaming.Let's dive in👇~~ Guest post by @heynejc of FOCGERS ~~Built in Cairo, wrangled with Dojo, and piped through the Cartridge gaming stack, O'Ruggin looks at first like a dusty throwback.Yes, it's a remix of The Oregon Trail series spiced with crypto satire. But the further you get in this fully ...

gm 🌊 https://t.co/XzuTJHMcdE ...

The Morning Minute (10.3)Powered by @yeet⏰Top News:-Crypto majors continue to grind up as Bitcoin breaks $120,000-BNB hits new ATH over $1,100 kicking off BNB SZN (Cake + memes soar)-CME 24/7 will launch 24/7 crypto futures and options trading in early 2026-Moonbirds tease BIRB token for first time, floor passes 4 ETH before retracing-Art Blocks announces Quine by Larva Labs as final Art Blocks Curated🌎 Macro Crypto and Memes-Crypto majors are green again, as Bitcoin breaks $120k; BTC +1% at $120,350, ETH + ...

I've had 37 dudes on payroll having conversations with themselves in the Monad discord for the last 2.5 years.They have the highest roles and totally separate wallets and have multiple whitelists for the best ecosystem NFTs.Total weekly cost $117.I cannot wait for TGE.Monad (mainnet arc) (@monad):airdrop claim loading▓▓▓▓▓▓▓░░░░░░ 51% ...

Market Trends - Ethereum NFT collection Moonbirds prices are rising [1] - The price increase follows the project's announcement of launching a Solana token [1]

Core Viewpoint - The article highlights the risks associated with speculative investments in companies that chase trends without solid fundamentals, using Hainan Huatie as a case study [1][3][4]. Company Overview - Hainan Huatie's main business involves renting engineering equipment such as aerial work platforms and forklifts, but it has recently shifted focus to speculative ventures like computing power contracts and NFTs [3][4]. Recent Developments - In March, Hainan Huatie signed a significant computing power contract worth 3.69 billion, but after seven months, no purchase orders were received, leading to the contract's cancellation [3][4]. - The company downplayed the cancellation, stating there were "no disagreements" and that it "does not affect operations," raising concerns about transparency [3]. Investment Risks - The article warns that retail investors often fall into traps by following trends and stories rather than focusing on a company's core business and actual performance [4][5]. - It emphasizes the importance of verifying the legitimacy of large orders and monitoring their progress, as many companies may announce contracts without real follow-through [6][7]. Recommendations for Investors - Investors should assess the alignment of a company's main business with its new ventures, ensuring that the core business remains robust [7]. - It is crucial to track the details of any announced orders, including formal contracts and payment statuses, to avoid high-risk situations [7]. - Observing the buying and selling patterns of significant shareholders can provide insights into the company's health and potential risks [7].