2025 crypto feels like it’ll be more similar to 2017 than to 2021

For me 2017 felt like there was no ceiling to how high we could go and we had unlimited fungible tokens to trade (even before the ICO mania).

2020 felt like it was all about yield and having good strategies to farm. 2021 a lot of us were caught off guard with people trading jpegs that we didn't understand yet. The ceiling felt capped in general.

Now we're back to having unlimited tokens to trade and with the strategic reserve talks it feels like the ceiling has been taken away again.

Just my two cents.

2017 was about tokens
2021 was about large private VC rounds
2024 is about tokens