Author: Climber, Golden Finance
Bitcoin has surged recently, reaching a maximum of $69,000, which is the same as the high of the last bull market. But judging from the upward momentum of Bitcoin, it is very likely to continue to hit new highs. Since the beginning of September last year, BTC has been rising steadily. During this period, many projects have swept away the haze of the bear market and achieved high-fold gains.
Many of these projects were mentioned in research reports from leading institutions in the encryption industry, and most of the reports were before the currency rose. issue. In addition, the most popular AI track since the beginning of the year has also been highlighted in the research reports of institutions represented by Messari, and Messari issued two project reports before Binance announced the listing of Axelar (AXL).
It can be seen thatinstitutional research reports are more authoritative and valuable than ordinary KOLs or investors. So in the current round of bear to bull market, which tracks and projects are the leading research institutions focusing on investigating? Are there any projects that institutions are optimistic about but have not yet exploded? In this regard, Golden Finance selected the six most representative ones from dozens of industry institutions and sorted out some of their respective research objects and results in the past year or so.
Head Organization Research ReportProjectComposition
Representative research and reporting institutions: Messari, LD Capital, First Class Warehouse, ABCDE Capital, MT Capital, Penta Lab.
Others: Delphi Digital, Nansen, SignalPlus, Binance Research, LK Venture, DappRadar, Galaxy Digital, Metrics Ventures.
1. Messari
Messari is a blockchain database startup headquartered in New York, USA. Messari uses open source tools to build a blockchain database. The data information stored in it includes the funds, development history, management structure, etc. of each blockchain project. and supply planning, etc.
2024 Research Report Topic:
February: Axelar (AXL) The data achieved all-round growth in Q4 of 2023. Polkadot reported in Q4 of 2023: the circulation market value of DOT increased by 111% quarterly.
January: A comprehensive understanding of Manta Network in one article, interpretation of the 2023 DePIN report: new directions in AI integration, and projects in Asia will accelerate.
2023 Research Report Topic:
December: About Covalent (CQT) data availability Summary of the report and detailed explanation of cross-chain infrastructure Axelar.
November: Cosmos Hub Q3 research report - ATOM dropped 21.0%, inflation rate 14%, quick overview of fully homomorphic encryption projects.
October: Solana's development status in the third quarter of 2023, Messari releases Moonbeam Q3 briefing.
Potential project:Covalent (CQT).
Covalent is a decentralized data infrastructure that enables users to seamlessly access otherwise inaccessible blockchain data. Covalent indexes the entire history of blockchain and transforms this data in a standardized and truly interoperable way. Users can leverage a unified API to query virtually any data on a given blockchain.
The project received a total of US$15.1 million in financing.
Messari pointed out that as the world moves towards a multi-chain future, Covalent will play an important role in the field of on-chain data indexers. It will provide users with a secure, fast and unified way to query data from parallel networks.
2. LD Capital
LD Capital is one of the earliest institutions in Asia focusing on value investment in the blockchain field. Relying on its industrial resource advantages and professional investment research team, LD Capital has successively discovered and invested in Qtum, Vechain, Eos and other projects, all of which have achieved returns of more than 100 times.
2024 Research Report Topic:
January: A new public chain with long accumulation—— Can Sui's recent development, LD Capital's announcement of the establishment of Solana Ecological Fund, and Mina's personnel changes lead to the project's recovery?
2023 Research Report Topic:
December: Mobile 7-Day Tenfold DePin Competition On the eve of the entry of old money, a brief analysis of the modular blockchain Celestia.
November: POW + AI dual narrative, computing power rental platform Clore.AI increased 10 times in the month (KAS, TAO mentioned),
September: Is the recent Crypto Bot craze a temporary boom or a new investment trend? , Livepeer (LPT) market has started again, can it break through the previous high?
August: THORChain Anonymous - Revealing the hidden shadow of Terra LUNA, the changes and impact of GMX V2, understanding the current situation of CyberConnect in one article, Linea: ConsenSys’ strong endorsement, can Can you stand out in the fiercely competitive L2?
July: A brief analysis of the POW public chain Kaspa based on the GHOSTDAG protocol, the pioneers of the order book native chain Injective, and Inverse Finance: Will they survive? , Analyzing Pendle’s innovation and challenges in the pledge business
June: ZeroLiquid: a no-liquidation, 0-interest lending agreement with LST as collateral.
May: Stacks of BTC second-layer network
Secondary market observation project: Fusionist (ACE), ZRX, 0x Protocol, HIFI, STORJ, Chainlink (LINK), Aave, Bluzelle, TRB.
Solana ecological projects invested by LD Capital: Render Network, Star Atlas, OpenOcean, Divvy, Larix.
3. First-class warehouse
First Class Cang is a blockchain investment research institution dedicated to discovering high-quality projects and investment opportunities for users.
2024 Research Report Topic:
February: Pandora based on ERC404 token standard , aggregator Jupiter on Solana.
2023 research report theme:
December: Detailed explanation of science fiction mecha style chain games Fusionist.
October: Comprehensive interpretation of modular blockchain Celestia and MMORPG chain game Big Time.
September: Yield Guild Games.
August: UBI Economics Worldcoin.
April: Full-chain interoperability protocol LayerZero.
Potential project: Pandora.
Pandora is an NFT fragmentation project launched on February 2 this year. Its core technology is the ERC 404 token standard. Users can purchase the project's token of the same name PANDORA on Uniswap V3 to obtain ERC 404 tokens, which is equivalent to holding its NFT in fragments - Pandora Replicants. In addition, users can also purchase Pandora Replicants directly on OpenSea.
4. ABCDE Capital
ABCDE is owned by Huobi The web3 builder fund co-founded by co-founder Du Jun and Metropolitan Capital founder BMAN has a scale of US$400 million.
2024 Research Report Topic:
February: Looking at AI from the perspective of the primary market +Crypto, why did we lead the investment in Bitmap.tech?
January: Why did we invest in B² Network?
2023 Research Report Topic:
December: Why should we invest in BitSmiley? , Why do we invest inBabylon?
October: Why did we invest in Surf Protocol?
September: Why do we invest in BeWater and how does Particle combine zkWaaS to build an intent-centered modular access layer? , Why do we invest in GasZero? , Why do we invest in Gravity?
March: Why did we lead the investment in Web3 development platform Particle Network? , Why do we invest in Polyhedra Network? , Why should we invest in the ZK hardware acceleration project Cysic?
February: Why should we lead the investment in NFT perpetual contract trading platform NFEx?
January: Why should we lead the investment in the automated Web3 financial reporting platform Elven? , ABCDE: Why did we lead the investment in Web3 security solution MetaTrust? , Why should we invest in DeBox?
Potential projects: bitSmiley, Babylon.
BitSmiley is the MakerDAO+Compound of the Bitcoin ecosystem, by solving the most significant gap in the current Bitcoin ecosystem - stablecoins and lending Infrastructure to provide comprehensive solutions for Bitcoin DeFi. In addition to offering stablecoins in the bitRC20 format over-collateralized in BTC, BitSmiley also facilitates peer-to-peer lending based on BRC20. In addition, it has established insurance and CDS derivatives based on the lending framework.
Babylon is a project designing security protocols for a decentralized world. Babylon’s mission is to scale Bitcoin to secure the decentralized world through three innovative secure sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamp Protocol, and Bitcoin Data Availability Protocol.
The project raised US$18 million in Series A.
5. MT Capital
Momentum Capital (MTCapital for short) is an emerging crypto fund focusing on the Web3 field. It is composed of a group of senior investment managers who have been focusing on the Web3 direction since 2016. Headquartered in Palo Alto, the heart of Silicon Valley, it is committed to investing in potential blockchain and cryptocurrency projects around the world.
2024 research report theme:
February: DA track dismantling, Celestia Comparative study with EigenDA.
January: bitSmiley - Pioneer of Bitcoin's native stablecoin protocol, comparative analysis of Origin and Olympus DAO, Cancun upgraded to Ethereum The ecology of the square has once again injected new vitality.
2023 research report theme:
December: Messari Crypto Theses 2024 key bets Solana and the AI+DePIN track, the current status and future prospects of the DeSci track, Jito - reshaping the Solana staking market pattern, the eve of the full outbreak of the Solana ecosystem, and Chainflip's new competitor in the native cross-chain exchange market.
November: Application chain migration and economic model updates promote the growth of DYDX flywheel, and Stacks Nakamoto is about to be upgraded, injecting new impetus into the Bitcoin ecosystem.
Potential project: Chainflip.
Chainflip is a cross-chain liquidity network that enables cross-chain transactions between different blockchains. It is similar to Uniswap but allows users to trade between major blockchains without any wrapper tokens, special wallets, or specialized software.
The project raised a total of US$16 million.
6. Penta Lab
Penta Lab is a cutting-edge crypto industry research institution and an independent third-party research institute dedicated to providing customers with accurate, empirical, sensitive, technology and artificial intelligence crypto asset research. Independence is a core value of Penta Lab.
2024 research report theme:
March: AINN update-continue to lead Web3 and AI innovation and integration provide infrastructure for the trillion-dollar AI ecosystem.
February: Synthetix - the leader in decentralized derivatives, Vertex Protocol - integrates three mainstream Defi products and is expected to become the leader in perpetual contract DEX, The dYdX-V4 version is released, the future of the DEX leader is promising, an exploration of the reasons for GNS’s 33% surge, GMX: the leading derivatives decentralized exchange has insufficient innovation and bleak growth, Shrapnel - the first on-chain 3A first-person perspective shooting game ( FPS) masterpiece, Pendle Finance - the leader in the income tokenization track, Ajna Protocol - the next Aave in the DeFi lending track, Gains Network - a unique and innovative high-leverage and low-fee sustainable encryption contract trading platform.
January: Penta Lab’s first in-depth research report: PENDLE surged 40% to a new high.
Potential projects:Shrapnel, Vertex Protocol.
Shrapnel is a AAA FPS game where skill-based competition, creative modeling tools, and true digital ownership are all powered by Blockchain Chain technology provides support. As a competitive multiplayer first-person shooter, SHRAPNEL bundles a rich set of player creation tools that combine combat, creation, management, and connection into a community where players own the platform and determine its future.
The project has raised a total of US$37.5 million in funding.
Vertex is a decentralized derivatives protocol for trading spot and perpetual contracts on the order book. With an industry-leading trading engine and comprehensive currency markets, Vertex's suite of cross-margin products is designed for professionals and beginners alike.
The project raised US$8.5 million in seed round funding.
Summary
Projects reported from the above institutions Judging from the categories and specific tracks, it does have reference value for learning and investment. Although we are currently in a bull market where the market is generally rising, there are still many research and report projects that are Alpha in nature. Therefore, in general, ordinary investors can obtain information gaps by paying attention to the research reports of these institutions in a timely manner.
However, what is disappointing is that the overall quantity and quality of research reports in the current encryption market are far behind the same type of products in the traditional financial field. In the future, it is hoped that more professional and responsible research institutions will enter the field to help jointly find value projects in the chain.
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