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Ignas | DeFi
@ignas
Crypto lost some of its excitement lately. The points-for-airdrop craze had many problems, but points incentivized discovering the hottest new dApps as soon as possible. Now I'm barely touching my wallet or searching for new dApps. "But sir, excitement will come back when crypto starts to pump again! Just need to wait!" - You say True, but somehow, I was more hyped to research protocols during the bear run. Is it just me? At that time, even with lower crypto prices, there was widespread optimism that the bull cycle would bring radical new innovations. That isn't the dominating sentiment at the moment. People are tired of yet another L2, overvalued infrastructure protocols, and low-float, high FDV tokens. Innovations like restaking in this cycle don't clearly convey their value proposition.
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Ignas | DeFi
@ignas
The most exciting developments this cycle didn't last long: Friend tech destroyed the SocialFi narrative, Runes launch on BTC turned into a sell-the-news event, Crypto x AI has yet to prove its relevance, and points-for-airdrops strategy no longer provides an easy way for protocols to attract users. Only memecoins are the lifeblood of crypto optimism and bullishness (although many get rekt hopping from one memecoin to another). In contrast, this bullishness is hard to find in other crypto sectors: Ethereans are hoping for just a 3x to 4x pump for ETH this cycle, BTC might do the same (why hold $ETH, then?), and SOL could maybe reach $1K? For low-float, high FDV tokens, the general sentiment is much worse.
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Ignas | DeFi
@ignas
Still, I'm bullish that a new meta will appear that will pump our degen animal spirts back up. Ironically, now might be the best time to research and identify new trends for the highest ROI, as the MEV decreases once a trend becomes widely accepted. Just need to get that motivation back. To identify the new meta, I look for: • A bullish community (it's even better if they have outsider critics) • Innovative token launch methods • New technical innovations • A sense of confusion, as new metas often perplex people the most Let me know if you identify any sectors that share these characteristics, so I can revive my degen researcher spirit once again!
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