AMA Recap — ZKSpace & New Bloc & CoinEx
At 10: 00 am (UTC) on 3rd March, the Layer 2 Pioneer project ZKSpace, top Institutional Investor New bloc, and leading cryptocurrency exchange CoinEx have joined together in ZKSpace Official Telegram Group to express their opinion of the market when the bulls and bears are not clear, aiming to union more parties of the industry to spend the dark time together. During the AMA, the three parties introduced themselves and shared their views on the market prospect and their investment opinion. They also answered many questions from users.
Host: Lisa from the GameFI Project-Dress Show
Theme: Will 2022 Be the Next Bull Run?
The three parties shared knowledge points are full, and here we will sort out the essence of AMA for everyone to review.
Let us invite three guests to introduce themselves.
ZKSpace: ZKSpace is a layer 2 platform for all. The project has realized one Layer 2 all featured protocol based on ZK-rollups technology. At present, we have developed three products, an upgraded Layer 2 AMM DEX ZKSwap v3.0, an NFT minting center and marketplace called ZKSea, and payment services, ZKSquare. With an all-new-look user interface, NFT support, unlimited token listing, smoother withdrawal, optimized efficiency, and multi-chain support. ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more layer 2-based products in the future.
New Bloc: Founded in 2018, New Bloc is a data and artificial intelligence-driven fintech company with a focus on crypto hedge funds, electronic market-making, and growth consulting. New Bloc has accumulated rich industry experience and a good reputation in the industry.
Through data and artificial intelligence, it explores the laws of massive financial time series data in the asset market and drives transaction decisions to obtain the maximum unit risk-return.
CoinEx: CoinEx is a crypto trading platform founded in 2017. Relying on premium products and satisfying trade services, the exchange now boasts over 3 million registered users and more than 2,000 global communities. Available in 16 languages, CoinEx provides secure, reliable crypto trade services for users in over 100 countries and regions around the world.
Q1: May I ask investment institutions, New bloc and CoinEx, as two guests who have some experience in project review, do you think that there are currently investment tracks that are worthy of attention?
New Bloc: Recently, the GameFI track is still very popular, because the concept of “play to earn” is very suitable for the current thinking of investors. We also invested in a project in this track last year, which can be shared with you.
This project is @DressShowNFT, a blockchain drag game. It is still in the early stage of investment, if you are interested, you can pay attention. Of course, the market is rotating, and many investors are optimistic about the Web3 track.
We are also planning for the Web3 track. Institutional purchases of Bitcoin, the US continuing to put USD in the market and a flood of funds have led Bitcoin to enter an uptrend over the past two years, especially foreign investors have started to see Bitcoin and altcoins as investment vehicles. It can be said that while the market is volatile, GameFI and Web3 are still tracks to watch.
CoinEx: In today’s crypto industry, Web 3.0, the metaverse, and blockchain infrastructure remain the most popular topics.
Since last year, Web 3.0, which centers on the user, has captured the spotlight. Compared with the Web 1.0 era where content could only be read and the Web 2.0 era where content could only be read and published, the Web 3.0 era aims to return the ownership of content to creators themselves, putting a stop to platform monopoly. In 2021, as DID projects like ENS became popular, Web 3.0 blogs such as Mirror also had been extensively adopted. At the same time, DAO, a new approach to self-governance, further expanded its influence. ConstitutionDAO, which bid for a copy of the U.S. Constitution, and AssangeDAO, launched in the name of saving Assange, attracted considerable attention. In the future, the DAO category is likely to become a major social focus.
The metaverse, a category that saw rapid growth last year, has been favored by many Internet giants. For example, Facebook rebranded itself as Meta to shift from an SNS platform to a metaverse pioneer. At the same time, big brands like Adidas and Disney have been involved in producing NFTs. The market cap of OpenSea, an NFT marketplace, also surged in 2021, which serves as the direct proof of the appeal of the metaverse and NFTs. Additionally, the category remains in its infancy, which means that there is still a lot of room for exploration and investment.
Apart from Web 3.0 and the metaverse, blockchain infrastructures are another key category. Defi is still one of the most widely adopted crypto categories, and the growth of applications is always underpinned by sound underlying infrastructures. As such, we should focus on new public chains, Layer 2 scalability solutions, as well as cross-chain applications because they could enhance the security and efficiency of the underlying blockchain technologies while promoting the adoption of blockchain applications.
Q2: We have learned that ZKSpace has always been the leader of the L2 track. Can you briefly tell us about the future development of the Layer 2 track?
ZKSpace: ZKSpace (previously ZKSwap), has been working on Layer 2 space since we started our beta network in November 2020. If you are a loyal Defi user, you will definitely keep a high expectation of Layer 2 because you hate the high cost of gas.
Compared with the early exploration of 2021, several current major projects of Layer 2 have taken shape with exponential growth in the number of users, such as Abtrium, Starkware, zksync, and sidechain Polygon.
As you can see, Layer 2 does meet the basic needs of users, but there is still a long way to go in terms of the Layer 2 infrastructure today. For instance, the slow speed of withdrawal between Layer1 and Layer2, the lack of EVM compatibility, etc., are all urgent issues to be resolved.
Although the Optimistic Rollup solution has been already compatible with EVM, zkRollup is still an optimal solution in the medium and long term as it is more secure. It would be great if zkEVM could be implemented as soon as possible, and I think the “zkEVM” solution could be the ultimate Layer 2 network.
Of course, this is also an area where we are studying from the beginning. And we will keep R&D till the day when Layer 2 explodes again.
Overall, the Layer 2 track has a great potential to build projects on a very large-scale, so stay tuned and seize the opportunity.
Q3: It can be seen that everyone is a representative organization in the industry. How do you judge the market situation?
New Bloc: Recently, many people feel that it is a bear market, but they tend to ignore the “buy low” node in the investment strategy. Many people feel that they did not make any money in a bull market, but lost a lot of money in a bear market.
My suggestion is that you can analyze some coins you are optimistic about in the bear market to see what stage his current price is in. If it is the bottom stage, then it is very worthwhile to enter. If there is no long-term investment plan, then I think setting a reasonable stop loss point, such as selling at 10%, can minimize the risk.
Secondly, the investment market would like to talk to you about the “Two Eight Rule”. The rule is that someone thinks that only 20% of the people in the market can make money, first of all, I think every seasoned and prudent investor can even be included in the 70% winning part in my opinion, not 20% because One of the first rules investors should be aware of is to always be balanced and stay on top. After that, patterns and chart reading play a key role in this market, as patterns do not fail, do not require very high volumes, and investors should know where to buy and then sell.
CoinEx： From my view, in today’s volatile market, the trend of the aftermarket depends on factors such as the recent macro-environment, industry developments, application progress, etc.
Although the present market conditions are difficult to assess, today’s market environment drastically differs from the market in the past few years. The market has become more de-correlated, and there are now more investment opportunities. A few years ago, the only way one could use cryptocurrencies was to trade them, but now investors have more options, including, as mentioned in the last question, Defi, DApps, NFTs, the metaverse, Web3.0, etc. Right now, Defi alone boasts a TVL of over $200 billion. In today’s market, crypto ecosystems have become more prosperous than ever.
Meanwhile, unlike a few years back when the market only included retail investors, many VC funds, hedge funds, and asset managers have also joined the game. These professional investors have brought more funds and liquidity to the crypto market and will help the industry progress with their keen market insights.
Therefore, regardless of how the environment may change, the overall crypto ecosystem has been improving, and today’s market remains at a stage where multiple players are exploring the future of the crypto space. From a long-term perspective, we can still expect the exponential growth of the crypto market.
ZKSpace: We can see that 2021 was a record year for the cryptocurrency market and blockchain on all levels. However, the beginning of the year 2022 saw an incredible crash, with the total market cap sliding 40%. Many people in the crypto industry have a similar experience, i.e. the 2018 crash.
As blockchain technology and cryptocurrencies continue to develop and demonstrate new advantages, the overall demand for cryptocurrencies looks to be on the rise as people begin to add this new asset type to their portfolios and use it to execute on-chain transactions.
Based on the recovery of the mainstream tokens, cryptos are still resilient and may be accompanied by more opportunities. But in the short term, market shocks are frequent and it remains to be seen whether crypto is at the beginning of another bearish or a bull run in the near future.
Q4: Under the current market conditions, what indicators should investors use to screen out high-quality assets worthy of investment?
New Bloc: It’s actually information that every investor should know, not ordinary investors, these are the information I use: RSI (Relative Strength Index), MACD (Moving Average Convergence), EMA (Exponential Moving Average), KDJ (Trend Follower Indicator), CCI (Commodity Channel Index), Volatility, Bollinger band, MA These are just a few of the more commonly used indicators.
When the data indicators are qualified, we need to understand the community of this project, find the project data on coinmarketcap, and look at a series of data such as circulation and turnover rate for reference.
CoinEx: The assessment of premium assets depends on the team background, investors, and community consensus of the project. To begin with, the team background of a project is always the most essential factor. Successful products are often built by outstanding teams. Therefore, one should try to learn everything about the team behind a project before investing in it.
In addition, the current investors are also a major indicator. Strong funding support will provide the project with more funds that could be invested in technological R&D and marketing, which will help it succeed.
Of course, the success of a product also depends on user support. As such, community consensus is another key factor. After all, a project cannot do without market recognition. When viewing a project, you can go to SNS platforms like Discord and Telegram to find out about the real feedback from its users, which will show you a clearer picture of the project.
ZKSpace: Personally, I value the following three points：
First: The Team. A reliable project depends on whether the team is reliable, I believe that a good team promotes good project progress. In addition to the founder’s background, I will mainly look at the technicians. Good technology is the foundation of a project. Now the market is full of a variety of projects, like the NFT platforms. There are plenty of them, how can we screen out the good ones? We have to look at project-based technology.
Second: Project Orientation, which should be in line with the market trend. For example, in the current market, everyone is getting into the layer 2 track for Layer 1 solutions. If you still try to build a general layer 1 project, it’s a bit late for you now.
Also, you need to read the Whitepaper, mainly to see whether the product is really innovative on the technical end, whether it can meet the needs of users, or whether it solves the current market pain points.
Third: Look at the current Institutional Investor. Actually, institutional investors have helped us screen in the first place. Famous institutional investors generally screen projects more stringently. So, looking at the projects that current institutional investors invest in can also help us evaluate whether the project has potential.
Part 2: Questions from the community
For New Bloc
Q1: What stage do you think the current market is in, and how long will such a volatile market last?
We are going through a bear market with support corresponding to Bitcoin’s 60k level. My goal is $1.2 trillion if the crypto market doesn’t get backed by $1.7 trillion again and keep it durable. The goals have been up to date since December. At these levels, I’ll add items to my cart from the items I’m following. What comes next will depend on the state of the cryptocurrency market at the time, the world economy, and world politics.
Market transitions are always painful. The bear market begins and the bulls create the illusion that you wait for the fomo. When you fall, you add, and when you add, it falls. Then you think the market will never get better. The bear market has begun to mature. But then technology began to recover, and the train announced its departure at the station. Then the train went to the 3rd and 4th station and started saying “the bull is here”. However, the bull has matured. Can I tell you the biggest metric in this regard? It is also completely available and free.
Follow the broad market and the vast number of investors and friends. If everyone on the Telegram group and on Twitter believes the bulls are buying fearlessly, it’s time to sell slowly. If everyone is convinced that a bear market is coming and no one is paying attention to the coin, then the bear market is ripe and it is time to buy.
Q2: Do you think there are any quick ways for investors to increase their assets?
I think participating in airdrops is a good option. Investors can find some newly issued coins on coinmarketcap. Usually, such coins will hold airdrop activities. In addition, they can also find projects that can receive airdrops in the recommendations of some bloggers. The method of obtaining this airdrop is also relatively simple, and you only need to do some simple tasks.
In addition, you can also participate in some games that can make money in the GameFi field, and there are some games where players can earn some rewards when they play games. Wealth can accumulate and investors can’t be too impatient.
Q1: What is your assessment of the crypto trends in 2022?
Many folks might be confused by the aftermarket in 2022 — The market cap of cryptocurrencies, declining since last year, now merely stands at about $2 trillion, a drop of nearly 30% compared to its peak.
Moreover, many investors believe that the crypto market will remain sluggish because they predict the periodicity of the market based on the halving cycle of Bitcoin.
In the meantime, as the Federal Reserve finalizes higher interest rates, the tightening monetary policy will bring a certain impact to everyone in global finance.
However, we must look at today’s crypto market from a new perspective.
As mentioned in the last question, many mainstream institutions and public companies have ventured into the market, which significantly improved the funding size, liquidity, and anti-risk capabilities of the crypto space.
Moreover, as crypto ecosystems and applications grow increasingly diversified, some categories may thrive despite the overall sluggish market conditions.
Although the overall market trends this year might not look as promising as they had been in 2021, investors could still focus on certain crypto categories that may thrive.
Additionally, during market swings, some blockchain infrastructures may achieve technological breakthroughs, thereby driving the market forward.
Q2: What is your advice for crypto investors?
From a long-term perspective, you can relax about the performance of the crypto market because all financial markets are going through temporary corrections due to the impact of macro policies and market cycles. Despite this, the crypto market remains in its infancy, and there is still a lot of room for future growth.
Investors can also tap into the present period of market adjustment and study the crypto space to deepen their market insight.
That’s why we start a column called “Learn CoinEx Earn CET” to help noobs to get more knowledge in the crypto world.
Though the market may seem bleak, there are still good investments in the market.
All of us should keep learning the relevant technologies and investment strategies of financial products. Improving your crypto expertise can never go wrong.
After all, the crypto market can still grow. Keeping learning in the industry and gaining expertise in the crypto market will help you capture more opportunities presented by this promising sector.
If you want to learn more about CoinEx, find us on
Furthermore, we have prepared a good prize and red packet for you on our Telegram (https://t.me/CoinExOfficialENG), welcome to share in your social network!
Q1: Hello Sir Can you list 1–3 killer features of your project that make it ahead of competitors? What are the competitive advantages your platform has that you feel most confident about?
Compared with Layer2 products using Optimistic-Rollups solution, ZKSpace has higher fund efficiency (the asset withdrawal speed is hundreds of times faster than that of others), a lower gas fee (which can be further reduced by several times), and higher TPS with much greater security (its proactive proof is as safe as that of the Ethereum mainnet). Currently, we are dedicated to the R&D of zkEVM and will launch it soon.
Compared with Layer2 products using the ZK-Rollups solution, ZKSpace has connected various operations on Layer2, becoming the first Layer2 complete protocol with functions of payment, DEX, and NFT. Users can independently list new assets on-chain, issue NFT, and conduct transactions with extremely high freedom.
What makes me feel confident most is that we are willing to listen to users and aim to improve the user experience. Our updates are also based on users’ feedback, so aiming to help users save the gas fees from layer1 to layer2, ZKSpace has launched the “Eco deposit” and “Fast Withdraw” method to help users save gas fees and transaction time.
Q2. Are you planning to promote your project in countries/regions where English is not good? Do you have a local community for them to better understand your project?
We welcome people from all over the world to participate in our project, and yes, we also have local communities:
ZKSpace Around The World!
🌏English : https://t.me/ZKSpaceOfficial
🇹🇷 Turkey: https://t.me/ZKSpaceTurkeyOfficial
End of AMA
The all-new ZKSpace platform consists of three main parts: ZKSwap, the innovative Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare, and an NFT minting center and marketplace called ZKSea. With an all-new-look user interface, NFT support, unlimited token listing, smoother withdrawal, optimized efficiency, and multi-chain support, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more layer 2-based products in the near future.