In the vast world of crypto assets, having a diverse portfolio is important.
It's an important step to making gains.
Being invested in top 10 coins is smart.
What about the other coins on the outside looking in?
It's a daunting task to go through each and every project
to learn the interworkings of every protocol,
but those willing to put in the work will often come out with the biggest gains.
If you're a new investor,
it's crucial to do your own research,
and in this video,
we're going to make this process a little bit easier by taking a deep dive into two coins
currently outside the top 50 that have been pumping like crazy lately.
Lets get it!
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In this video, we will discuss the details of two up-and-coming projects in the crypto space,
Arweave and Osmosis.
According to Milko Trajcevski from the dailycoin.com,
"Blockchain networks like Bitcoin are built with limited block sizes with averages of 1 megabyte
due to cryptography and peer-to-peer validation requirements.
When such networks are upgraded to support smart contract functionality,
they face significant challenges storing assets such as NFTs
because of their limited block sizes."
There is now a solution to this problem that could very well change the face
of decentralized data storage and NFT storage on blockchains---
Arweave.
Arweave, currently ranked No. 57 by market cap,
refers to itself as the world's first blockweave network.
This is a new type of file storage that backs data with sustainable and perpetual endowments,
allowing users and developers to store their data, documents and applications forever.
They achieve this by weaving each block together with others on the network,
creating a network of storage of data on its peer-to-peer network.
Arweave utilizes a decentralized, global, community-owned network
known as the permaweb.
Permaweb looks just like the normal web,
except all of its content, including images and apps, are permanently stored.
30% of normal web links break within two years,
but on the permaweb,
you can archive your favorite sites and sources forever.
They utilize Profit Sharing Communities, or PSCs, to empower founders, contributors and users
while offering a better experience on the web.
Think of PSCs as open source companies that pay out an immediate dividend on profits.
In this community, you can contribute whenever and however you want.
According to arweave.org in regards to PSCs,
"For founders, it means a focus on product over fundraising,
and no more sacrificing ownership for capital.
For contributors, it means no bosses, no contracts.
Work on what you care about and accumulate revenue generating ownership immediately."
This system empowers ownership,
has better governance,
has fewer barriers,
is consumer-friendly to allow users to build the web we always wanted.
Arweave has been exceeding all expectations
and is slowly but surely catching up to its competitors such as Filecoin.
Arweave's revenue from dApps saw a 2,000% increase this month
compared to a 30% increase in spending on the Filecoin network.
You can keep track of live stats on web3index.org.
Sam Williams, who founded Arweave in 2017, recently tweeted,
Arweave transactions last month: 1.677 million.
Bundled Arweave transactions so far this month: 4.56 million.
This project is gaining some serious momentum, and it doesn't stop there.
Imagine having all your text messages and emails permanently stored on the blockchain
in a tamper-proof decentralized manner with end-to-end encryption.
Thanks to Arweave,
the projects such as Akord and MyMailProtocol are able to securely save your data to the permaweb
without using your data against you like the big tech companies do.
Arweave is also partnered with Solana.
Considering Solana runs at 50,000 transactions per second,
their partnership with Arweave ensures its blockchain data is securely and scalable stored.
Arweave will also play a large role in the world of NFTs
because storing your million-dollar JPEG should be done on the blockchain,
not on Amazon Web Services.
Thousands and thousands of gigabytes of data is a major scalability issue for many layer 1 solutions.
Arweave was created to address this flaw in contemporary blockchain technology.
Darius Rye tweeted,
"I hope everybody here understands that the entire NFT domain and crypto art scene
is and soon will be fully underwritten by Arweave."
Here are some fundamentals.
At the time of this writing,
Arweave's price is at $42.39 after pulling back from its September 9th all-time high of $74.03.
The market cap is just over $2.3 billion, with a total supply of 66 million coins.
Arweave has been on a complete tear this year.
Just in the past 3 months, it's increased 314%.
On January 1, Arweave was trading for barely $2.68.
But that doesn't mean that there's not gains yet to be had.
Considering the utility and use case for this coin,
it will not be outside the top 50 for much longer.
My prediction for Arweave for Q4 is $90 to $100.
By 2025, you will be grateful to have gotten in on this project way back in 2021.
Back in March,
Andreessen Horowitz, Union Square Ventures and Coinbase Ventures raised $8.3 million
for the Arweave community and ecosystem.
The money was dispensed to stimulate growth and development of the network and community
by introducing two initiatives,
Arweave Grants and Arweave Boost.
Arweave Grants is a program where any community member can submit proposals
for projects, startups, DAOs and marketing initiatives.
The team will provide funds and technical support to any exciting ideas
to kick start the progression of the network.
Arweave Boost will offer up to $50,000 in storage for projects, startups,
or companies looking to boost their growth with the help of reliable permanent data storage.
Considering Coinbase Ventures played a crucial role in this fundraiser,
it's only a matter of time until Arweave gets that coveted Coinbase listing,
which will most likely catapult this project past previous all-time highs.
Next up is Osmosis,
a part of the Cosmos ecosystem currently ranked 92 by market cap.
Osmosis is a decentralized exchange, aka DEX,
as well as an advanced AMM protocol built using the Cosmos SDK
that will allow developers to design, build and deploy their own customized AMMs.
It's a customizable automated market maker for interchain assets
that allows the creation and management of non- custodial, self-balancing, interchain token index
similar to Balancer and Wanchain,
which we love.
The Osmosis blockchain is made up of free, public and open source software.
OSMO is the governance token for Osmosis.
The goal Osmosis made for itself is to provide the best-in-class tools
that extend the use of AMMs within the Cosmos ecosystem
beyond traditional token swap type use cases.
Osmosis, launched in late June 2021, pitched itself as "Balancer meets Interchain Staking".
A key feature for Osmosis is its custom staking token design tool
which allows users to create tokens that can be staked on multiple chains.
This potentially offers developers access to liquidity across multiple ecosystems.
User experience is critical to the success of any trading protocol,
and one of the biggest obstacles in creating a consistent and reliable trading experience
is short-term mercenary farming
where liquidity providers quickly add and remove liquidity to pursue the best yields.
With that in mind,
Osmosis has leveraged two novel devices to encourage long-term liquidity---
bonded liquidity gauges and exit fees.
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The BitSquad!
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The Osmosis platform has already skyrocketed past $500 million in total value locked.
In this tweet by CryptoRank Platform,
there's a chart of the top 10 DEXs by TVL growth in the last 7 days,
where Osmosis ranks No. 3 out of 10.
Osmosis also just had their first major chain upgrade.
In a tweet from Jim Yang, an Osmosis dev,
he stated that this upgrade significantly speeds up epoch times
and also provides developers new tools to improve Osmosis along its roadmap.
Recently, Osmosis is advancing to its next milestone by partnering with e-Money,
a popular blockchain-based payment platform,
to introduce the eEUR as the first stablecoin
to be listed on the project's AMM decentralized exchange.
According to bitcoinist.com,
"For market participants, access to stablecoins in DeFi has been an important bridge.
In 2020 alone, the aggregate market value of Ethereum-based stablecoins
increased by 95.38% to reach $6.25 billion."
These updates and partnerships are the types of cooperation
needed to take any blockchain project to the next level,
and Osmosis is definitely already on its way up the ladder.
For some fundamentals,
Osmosis is currently priced at $5.73 after pulling back from its September 20th all-time high of $7.03.
OSMO is up 33.57% in the past three months but is down 4.83% in the past week.
Its market cap is just over $1 billion,
with a total supply of 325 million, 182.1 million already in circulation.
This project caught fire fast,
and this conflagration can be attributed to its dedicated team of developers
and Cosmos' battle-tested, well-oiled machine.
Price prediction in OSMO for Quarter 4 is in the range of $12 to $16.
That's all I got.
Be blessed.
BitBoy out.