On-chain Token Frenzy: Can Exchange Projects Benefit?

Recently, the cryptocurrency market has shown a trend of diversified development, with Bitcoin's market share dropping from 60% to 55%, indicating the arrival of the altcoin season. Various sectors in the market have shown impressive performance:

AI Agent-related projects are leading the trend, with a certain protocol's market capitalization once exceeding 300 million USD. An AI project in a certain public chain ecosystem also reached a market capitalization of 1 billion USD. A certain liquidity protocol's Token increased by more than 10 times. The exchange's open interest also hit a new high, surpassing 4.3 billion USD. Even the previously quieter NFT sector has seen new movements, with several well-known platforms issuing Tokens in succession, driving up blue-chip NFT projects on Ethereum and a certain public chain.

From the above hotspots, it can be seen that the current market focus is mainly on on-chain projects. So, have the tokens of centralized exchanges really been forgotten by the market?

This is not the case. Another significant potential factor in this round of bull market is the possibility of Trump being elected. This means that cryptocurrencies will further enter the public eye. The improvement of regulations and the relaxation of supervision are both conducive to external funds entering the crypto market. This trend can be seen from the continuous inflow of funds into Bitcoin and Ethereum spot ETFs.

The Trump family's cryptocurrency project has also made significant purchases of DeFi-related Tokens within a month, including ETH, CBBTC, AAVE, LINK, ENA, ONDO, etc. How have these Token purchases performed? What common characteristics do they have? Which related concept coins are worth paying attention to? Let's analyze it together.

Purchase Record Overview

Starting from November 30, the Trump family project has invested a total of $44.75 million in purchasing cryptocurrencies. As of December 18, all held coins are in a profitable state.

It is worth noting that, unlike traditional institutions that prefer Bitcoin, this project holds far more ETH than Bitcoin, which may indicate their more optimistic view on the future trends of Ethereum.

As the leader in lending across the entire market, AAVE ranks first in TVL, with a deposit scale approaching $40 billion, setting a new historical high, and the coin price has increased by 35% in the past 7 days. The project has also collaborated with AAVE through community voting, and if the proposal is approved, it will bring new users and more actual benefits to AAVE.

LINK is a well-known oracle project. The Trump family project previously announced the adoption of it as the on-chain data and cross-chain connection standard to safely promote the large-scale application of DeFi.

The development of ENA is closely related to the current bull market. As market sentiment rises and Ethereum's funding rates increase, the project can benefit from this. Its TVL has surpassed $6 billion, reaching a new high, and it recently partnered with a giant asset management firm to launch a new type of stablecoin, which alleviates concerns about the protocol potentially facing difficulties due to negative funding rates.

ONDO is the leader in the current RWA sector and has made a large investment in a certain asset management giant's crypto fund, becoming the largest holder. In terms of compliance, legitimacy, capital scale, and market recognition, ONDO is the best choice in the RWA sector.

It is worth mentioning COW. The Trump family project used a certain DEX protocol to purchase the above tokens, so COW is also considered a related concept coin.

Tokens to Watch in the Future

Based on the investment ideas of the Trump family projects, we can speculate on the targets they may focus on in the future:

The first choice is tokens that have a partnership with the project. Secondly, projects that have a "clear business model" and "stable actual returns". AAVE, LINK, ENA, ONDO, etc. all have clear product positioning, a large ecosystem of users, and actual revenue models. This indicates that they prefer to invest in protocols that can bring long-term value, rather than blindly chasing "novelty" or "pure concept" projects.

LDO: Given that the project's holdings in ETH far exceed those in BTC, it is evident that they are optimistic about Ethereum's long-term potential. As the Ethereum staking mechanism matures, coupled with the possibility of ETFs introducing staking yields, a certain liquid staking protocol has become the preferred choice. This protocol is the largest liquid staking protocol in the Ethereum ecosystem, with a TVL of $37 billion, accounting for 30% of the entire Ethereum staking market.

Pendle: Focused on the yield splitting market, allowing users to trade future yield rights. As the staking yield of Ethereum and the yield of certain stablecoin protocols rise, the demand for yield trading increases, making Pendle a focal point in this bull market. Its TVL has exceeded $5 billion and has established partnerships with multiple mainstream DeFi protocols.

UNI: A certain DEX is the pioneer of DeFi Summer and is currently the most commonly used decentralized exchange by users, leading this sector. Although the market response to its newly launched cross-chain solution has been tepid, this does not affect users' reliance on its products.

Summary: Blue-chip projects = projects of presidential interest

Regarding the Trump family's large-scale purchase of cryptocurrency, an analyst from a data analytics platform believes: "This may be to gain more trust or to promote its own project by drawing attention to these assets. Because if these assets perform well, the project may also benefit as a result."

The Trump family's projects are actively laying out blue-chip projects, which not only enhance the market's confidence in mainstream DeFi protocols but also inject more institutional funds into the crypto market. Such fund flows further stabilize the market and push mainstream projects towards higher market value and development potential.