Original author: Delphi Digital

Original compilation: Sharon, BlockBeats

Editors note: On December 22, Delphi Digital released its 2023 year-end summary, listing the many reports it released in 2023, including analysis of blockchain and cryptocurrency technologies and markets such as Solana, Ordinals, Coinbase, and Celestia. In addition, Delphi Digitals 2024 outlook report is also on the way. For Delphi Digitals 2023 year-end summary, BlockBeats compiled its thread as follows:

Throughout the bear market, our research team worked tirelessly to identify opportunities that would allow us to stand out when the crypto market finally turned around. Were writing our 2024 outlook report, and heres what some of our analysts have been working on over the past year.

Celestia

Before Celestia was officially released, one of our researchers @CannnGurel released an in-depth report Focus on Celestia in February 2022. A key takeaway is this: a multi-chain world seems inevitable for scalability, and we believe modular blockchains can provide an optimal approach. (For details, please see thisReport）

We also shared a detailed Alpha Feed post on the eve of the Celestia mainnet launch. Celestias application ecosystem continues to grow, and the $TIA network value has increased by more than 410% since launch. (For details, click hereLink）

Solana

“For general-purpose monoliths, despite FTX’s previous issues, we still believe Solana is the top contender in this category.” Our 2023 Infrastructure Report not only addresses the challenges Solana faces post-FTX Challenges, future catalysts are also outlined, and our conclusions are shown below. (For details, please see thisReport）

Back in May, @ceterispar 1 bus released one of the most popular reports of the year, Solana the Monolith. Since the release of our Infrastructure Year Ahead report in December, the value of the $SOL network has increased by more than 510%. (For details, please see thisReport）

Coinbase

Our markets team finds that the analyst consensus significantly underestimates Coinbases growth potential, especially if we are on the cusp of a new cycle (as their previous work suggests). In early September theyIn-depth reportingdetails this gap and their own perspective.

ShouldReportDetailed analysis of Coinbases current and future revenue drivers, estimates of spot ETF demand and impact on txn trading volume, custody revenue, and BASEs value prop within its integrated ecosystem, all covered. Coinbase’s trading volume is $38.7 billion, up more than 100% in the past 3 months.

This time last year, our team published the 2023 Market OutlookIn-depth analysis, likened 2022 to the “Great Reset” of cryptocurrencies, focusing on global liquidity, the U.S. dollar, and cryptocurrencies as the “canary in the mine.” We also analyze why the outlook for 2023 is more optimistic, excerpted below.

The predictions of a new upward liquidity trend and a new “market” upward trend in mid-2023 have now proven to be correct. Since then, many on-chain indicators have bottomed, while the $BTC network value is up approximately 160% year-to-date.

DeFi

Around the same time, our team also released The Year Ahead of DeFi. This masterclass, hosted by @yeak and @ashwathbk, breaks down the current state of DeFi, the key themes and developments to watch, and lays out several futuristic ideas they believe could shape the industryidea。

Here’s an excerpt from @synthetix_io: “The upcoming Synthetix V3 will be a complete redesign of the protocol, which will allow Synthetix to continue its leadership as a product testing environment for novel DeFi concepts.” $SNX network value has grown year-to-date About 240%.

Blur

@blur_io has reinvented the liquidity of NFTs, sparking extreme views from passionate advocates and vehement opponents. @0x Prismatic and @yh_0x wrote a masterpiece of analysis on its fundamentals back in August. Since then, $BLUR’s network value has grown by over 220%.

Ronin

Our gaming team highlighted this opportunity in 2023 @Ronin_Network with Deep Dives and Alpha Feed posts. In Why Asia Will Lead Web3 Gaming, @JACL_e 9 pointed out Ronins transition to PoS and its impact on the gaming ecosystem.

In October, @JACL_e 9 published an Alpha Feed post Game Ecosystem Tokens to Watch. Trending Topics: The surge in @Ronin_Network activity we saw earlier this year went largely unnoticed. The $RON network value has since grown by over 300%.

Ordinals

Ordinals inspired both passion and criticism from the community. @DemosCrypto wrote about this. Starting from February’s professional report “$BTC New Narrative: Ordinals Begins”, its comprehensive analysis of the Ordinals stack, Bitcoin derivatives, NFTs and ordinals, and inscription issues. The following areextract。

Next is to go deeperDiscussBRC-20: Past, Present and Future, we analyze the opportunities, development and progress of the Ordinals ecosystem. Since June, the $ORDI network value has increased by more than 570%.

It is important to note that cryptocurrencies are fraught with risks, including privacy and security risks (i.e., vulnerability exploits), fundamental and product vulnerabilities, and regulatory risks. As always, we advise readers to conduct their own due diligence and independently assess these risks.

THORChain

A year ago, we turned our attention to infrastructure, with @CannnGurel stating that “one cross-chain protocol that is well positioned to leverage its already established market fit is @THORChain.” Infrastructure Outlook 2023Coverits latest developments, integrations and cross-chain products.

July, @CannnGurelreleaseprovided a follow-up note on Alpha Feed, citing improvements in its fundamentals, growth in user traction, and other notable developments. $RUNE has surged over 430% in network value since then.

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