Louis

@louis98

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182 Followers

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Unlike previous cycles, there were no innovative triggers to spark a market rally this time around. Instead, it is the promise of Bitcoin ETFs and institutionalization that is driving the asset class higher, and the ensuing lack of a clear focus for speculative funds as a result. Unlike 2021, there is no DeFi or NFT birth to cheer about this time around - just a general sense that things are looking up and early signs of a maturing infrastructure. At the same time, the number of assets in the crypto economy has grown by 1 to 2 orders of magnitude, making it harder for the entire industry, and indeed the entire asset class, to rise uniformly. As a result, speculative funding lacks a clear direction, and many believe with cynicism that the only guiding logic is financial nihilism - perhaps the only technological breakthrough of note in this cycle is a more efficient infrastructure for launching and trading tokens.

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The crypto economy has proven time and time again that it is the fastest horse in the race when the monetary environment eases, and Syncracy doesn't think it will be much different this time around, coupled with the excitement of institutionalization and regulatory transparency. However, the key difference between today and previous cycles is that returns are less likely to be driven by thematic trends and more likely to be decentralized.

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Digging Deeper into the Data Behind Celsius: Holding More Than 500,000 ETH, with Multiple Internal Violations

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I got my Moxie Pass! Mint yours to be eligible for upcoming airdrops, grants, Fan Tokens and more! cc @betashop.eth @airstack.eth

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