Except for Bitcoin, all crypto asset prices are downstream of usage.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

doesn't ADA/XRP/etc refute this? high valuations but no usage

idk how to find that specifically but afaik some of the dinocoins are quite liquid - XRP does more daily volume than SOL, BNB, etc.

i think these assets still have large retail cult narratives built over time that drive prices and are not purely usage based

How much depth of book?

What is the effect of selling $100M at the spot price on all these?

Better articulation

Two ways to increase asset prices in crypto:

1. attention
2. usage

Attention is easier but fleeting. Few assets can create ongoing attention. And even in that case, hard to compete with the attention / memetic Schelling Point of Bitcoin at scale.

The way to create ongoing value is transform attention to usage. 

But usage requires apps. Those can be onchain protocols, but likely also need retail / consumer apps to continue to scale.

Attention without usage eventually fades for everything else except Bitcoin. Half-life can be long.

Here’s a better articulation

https://warpcast.com/dwr.eth/0x6611bda1