On-chain tokens are hot, can the coins in the exchange迎来 pump?

Recently, the cryptocurrency market has shown a diversified development trend, with Bitcoin's market share dropping from 60% to 55%, marking the arrival of the altcoin season. Multiple hotspots have emerged in the market, showcasing a flourishing landscape.

The concept of artificial intelligence agents is leading the trend, with the market capitalization of a certain protocol once exceeding 300 million USD. An AI project in a certain public chain ecosystem has also surpassed a market capitalization of 1 billion USD. The rise of another exchange's ecosystem coin has even exceeded 10 times. In terms of products, the open interest of the exchange has repeatedly reached new highs, exceeding 4.3 billion USD. Even the NFT sector, which was once neglected by the market, has shown some movement, with several well-known NFT exchanges and projects issuing tokens one after another, driving many blue-chip NFT projects on Ethereum and Solana to rise.

From these hotspots, it can be seen that the market's 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. There is another narrative in this bull market that cannot be ignored: Trump may be elected. This means that cryptocurrencies will officially enter the public eye. The improvement of regulations and the loosening of supervision are conducive to external funds entering the cryptocurrency market. This can be seen from the continuous net inflow of funds into Bitcoin and Ethereum spot ETFs.

The Trump family's cryptocurrency project World Liberty Financial has also led by example, making large purchases of DeFi-related coins within a month, including ETH, CBBTC, AAVE, LINK, ENA, and ONDO.

So, how do these coins perform after being purchased by World Liberty Financial? What common characteristics do they have? Which conceptual coins are worth paying attention to? Let's analyze them together.

Purchase Records of World Liberty Financial

Starting from November 30, World Liberty Financial has spent a total of 44.75 million dollars to purchase cryptocurrencies. As of December 18, all the coins they hold are in a state of profit.

Interestingly, compared to traditional institutions, World Liberty Financial holds far more ETH than Bitcoin, which may indicate their more optimistic outlook on the future price trend of Ethereum.

The other coins they purchased each have their own characteristics:

• AAVE is the leader in the entire market for lending, ranking first in TVL, with a deposit scale approaching 40 billion USD, setting a new historical high.
• LINK is a well-known oracle project, and World Liberty Financial has announced that it will adopt its technology as the standard for on-chain data and cross-chain connectivity.
• The development of ENA is closely related to this round of bull market, and the yield of its stablecoin USDe comes from arbitrage between futures and spot.
• ONDO is the leading project in the current RWA track, excelling in compliance, legitimacy, and market recognition.

Additionally, COW is also regarded as a relevant concept coin because World Liberty Financial uses its protocol for purchases.

Possible Investment Directions for the Future

Analyzing the investment logic of World Liberty Financial, we can speculate on the projects they may focus on in the future:

1. LDO: As the largest liquid staking protocol in the Ethereum ecosystem, its TVL reaches 37 billion USD, accounting for 30% of the entire Ethereum staking market.

2. Pendle: Focused on the yield splitting market, its demand continues to increase as the yields of various protocols rise. TVL has surpassed $5 billion.

3. A well-known decentralized exchange: As the pioneer of DeFi Summer and the most commonly used decentralized exchange by current users, its position is difficult to shake.

Summary

The large-scale purchase of cryptocurrencies by World Liberty Financial may be aimed at gaining more trust or promoting the development of their own projects. They are actively laying out blue chip projects, which not only enhances the market's confidence in mainstream DeFi protocols but also injects more institutional funds into the cryptocurrency market. Such a flow of funds further stabilizes the market and pushes mainstream projects towards higher market values and development potential.