Drift price

Great proposal by @DriftProtocol ! Strategic Acquisition Proposal: - Security Council to deploy $1M of protocol fees to buy back $DRIFT when it’s cheap - Seed a Strategic Growth Fund for staker rewards, liquidity mining & builder grants

Entering mid-May, the macro data window brought a brief lull, but the crypto market sentiment continued to heat up. While mainstream assets fluctuated upward, funds began to rotate to high-quality altcoins with solid fundamentals. In this issue of HTX DeepThink #5, HTX ResearchChloe (@ChloeTalk1) brings a market macro outlook and strategic layout analysis, focusing on the plate rotation potential of the SUI ecosystem and the AttentionFi track. Macro outlook: market sentiment is heating up, and the short term is still positive In the absence of blockbuster economic data from the US this week, the market focus is on the response of Fed officials to the "rate cut once this year" rhetoric. The options market shows bullish sentiment dominant: the Call/Put open interest ratio is as high as 1.55, and the premium for the call contract continues to rise; Short-term implied volatility (IV) has been pushed to an 18-month low of 35–40%. This means that the market is "emotionally high and volatile is calm" - in this case, bitcoin may rise to new highs again in 30-45 days, breaking through the $10.5-115,000 range. However, this "high sentiment + low volatility" often masks the risk of high leverage accumulation, which can trigger a deleveraging stampede once volatility spikes or BTC effectively falls below $100,000. Market strategy: rotate the layout of high-quality cottages, and take advantage of the situation to undertake spillover funds Operationally, on the premise of controlling the total position, if part of the capital rotation is allocated to high-quality altcoins with solid fundamentals and strong liquidity, it may be able to undertake the spillover momentum brought by the rise of Bitcoin. This issue of HTX DeepThink #5 selects potential track targets for you and is for investors' reference only. SUI Ecology: The main chain is at a new high, and the leading projects are still in a valuation depression Recently, the market value of SUI's main chain has hit a record high, but its ecological projects have not yet seen a systematic increase. The current or low-level layout of the key window of the ecological faucet. Huobi HTX has taken the lead in listing two high-potential SUI projects: Haedal and Bluefin. ● Haedal: SUI's leading on-chain LST protocol, accounting for 76% of the market share, with extremely high network effects. ● Bluefin: Perp DEX, the main player of the SUI ecosystem, has a market capitalization of only $31.6 million, but has achieved annualized revenue of $8.2 million, with a price-to-sales ratio of only 3.8x, which is significantly undervalued compared to GMX (9.1x) and Drift (12.4x). It is about to launch the V2 upgrade, introducing the veToken model and user incentives, which is expected to drive both transaction activity and protocol revenue. In the context of the continuous upward trend of the SUI main chain, Haedal and Bluefin, as core infrastructure projects, have the dual potential of valuation repair and beta upside, and can be followed and deployed in the medium term. AttentionFi Track: The catcher of bull market traffic dividends In the current bull market, the cost of traffic in the Web3 world is rapidly increasing as new projects emerge one after another. With traditional buying models, the cost of user acquisition is usually determined by the × of traffic Conversion rate: On platforms like Telegram, Google, or Xiaohongshu, for example, the cost per click is around $0.5–1, with an average conversion rate of 10%, meaning that a project needs to pay $5–$10 to acquire a real retention user. Kaito provides a more efficient "traffic engine": its API is based on "reputation × high-quality interaction" billing, the real user retention obtained under the same budget is increased by 3-4 times, and the cost per user is pressed to $2-3, which is significantly lower than other channels. This cost reduction and efficiency improvement has also led to Kaito's rapid expansion, which has increased from 30 to 120 in the past three months, and the number of calls has quadrupled. At the same time, the $KAITO community has pledged 19.7 million tokens, and the protocol has repurchased and burned a total of 3.7 million tokens, further raising the upper limit of the coin price. In Virtuals, the IDO platform of the Base Chain, users only need to stake ≥ 5,000 $KAITO to obtain Virgen points to exchange for IDO quotas, building a closed loop of "staking → points → arbitrage". It should be noted that if a project wants to launch Kaito's Yapper Leaderboard, it needs to invest a lot of canvassing costs and $KAITO staking. In this regard, the team can use GiveRep to conduct zero-cost reputation screening and seed community building, and then access Kaito for explosive operations, similar to the relationship between large and small exchanges. GiveRep has a close relationship with the SUI Foundation, working with popular SUI projects such as ika and Typus, and has certain airdrop expectations. At present, Huobi HTX has been launched $KAITO, and in the context of intensifying competition in bull market traffic, Kaito has become a potential asset worth paying attention to through low-cost and accurate user access and protocol deflationary design. Note: The content of this article is not investment advice and does not constitute an offer, solicitation or recommendation of any investment products. About HTX DeepThink: HTX DeepThink is a crypto market insight column created by Huobi HTX, focusing on global macro trends, core economic data and crypto industry hotspots, injecting new thinking power into the market and helping readers "find order in chaos" in the unpredictable crypto world. About HTX Research: HTX Research, the dedicated research arm of the HTX Group, provides in-depth analysis, comprehensive reports, and expert evaluations on a wide range of areas including cryptocurrency, blockchain technology, and emerging market trends. HTX Research's commitment to providing data-driven insights and strategic foresight plays a key role in shaping industry perspectives and supporting informed decision-making in the digital asset space. With rigorous research methodologies and cutting-edge data analysis, HTX Research is always at the forefront of innovation, leading the way in industry thought development and facilitating a deep understanding of changing market dynamics.

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DIP4: Drift Strategic Acquisition Proposal Vote Is Live! This proposal aims to: → $1M USDC from Drift's Protocol owned assets to reinvest to buy back DRIFT → Buy back DRIFT strategically over 3 months → Seed a Strategic Growth Fund to fuel possible incentives, grants & ecosystem growth

🆕 @DriftProtocol’s activities are now fully parsed on Solscan! Dive into detailed Drift transaction data, from position size to perps data, all presented clearly for better visibility and transparency. Real insights, real time! Solscan will continue expanding our support for more perpetual trading protocols on Solana. Stay tuned 🔥