Ignas | DeFi
@ignas
Who's buying $ETH? ETH was a consensus buy-and-hold, along with BTC, during the bear market. But as the bull market began and ETH underperformed, many holders grew impatient and rotated their bags to BTC, SOL, and other coins. I was one of them. People I talk to still continue to move from ETH to other alts. Some even prefer buying XRP, ADA, and LTC... They know these are shitcoins but they doubt ETH will regain any bullish sentiment soon. And those who have recently sold their crypto are not considering ETH as a buying option.
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Ignas | DeFi
@ignas
Vitalik's "copy-pasta" post is true that crypto degens aren't buying much anymore; they are waiting for an exit pump to sell. But what's the "young blood" here? Gen-Z or millennial retail outside of crypto are broke and can barely pay their rent. Institutions could buy ETH if RWA and tokenization picks up speed. BlackRock is a big player to follow. But even institutions prefer BTC as it's easy to understand in this unstable macro situation. ETF flow numbers prove that. I know that my observations, based on discussions with a few IRL friends and crypto private chats, are anecdotal. However, we, crypto degens, truly think alike and often follow similar trends and are easily driven by FOMO. So it's a big task for the new EF and Etherealize leadership to change the sentiment. I see some signs of it happening. But I'd bet on crypto natives regaining bullishness in ETH happening before any new "young blood" buys our bags.
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