0 reply
0 recast
0 reaction
Catch up w/ a few old frens who are also founders yesterday. Last time we saw each other irl was last cycle & a different country.
Thoughts on current market consensus:
1. This cycle crypto trading getting dominated by tradfi giants due to ETF flow. CME volume surpassed offshore cex volumes.
2. ETF flow only cares BTC + ETH. No new money inflow into other sectors.
3. Existing narratives all from last cycle & become saturate: L2s, ZKs, Alt L1s, super fast chains, intents. Emotion exhaustion reflected on dry liquidity. No one cares (as much!), no money actively trades those assets;
4. Ton's large user base attracts ppl attention on the "mass adoption" narrative, only one that sounds attractive for now;
5. If we see crypto as only about finance, that's it now. it largely turns into a sector in tradefi;
6. if we still hold belief in crypto holds sth new, must have other use case scenario cross the chasm for new ppl, new narrative, new mood & new money get in 5 replies
0 recast
12 reactions
0 reply
0 recast
1 reaction
2 replies
0 recast
1 reaction
0 reply
0 recast
0 reaction
0 reply
0 recast
1 reaction
0 reply
0 recast
0 reaction
