CRYPTO IS IN A FINANCIAL CRISIS.
now that i have your attention, let’s talk about the crypto market puking up 20% across the board yesterday 🤮 (thanks to @CNBC for the headline inspo - writing clickbait is fun!)
- crypto is in crisis (unless you're bitcoin)
- the market knows it, and eased some of that pain. we have to look beyond the assets themselves for value creation.
- building a less centralized financial system is going to take a long time. plan wisely.
- over 80% of cryptos have less than $10MM in 30-day trade volume
- code commits in the low double digits last quarter
- only a few hundred tsxns per day, if that
numbers don't lie. many assets are trapped in a vicious spiral.
- in the assets, especially networks w/ proven governance
- in the new companies building infrastructure and services
- in the funds and asset managers providing exposure
- in publicly traded co's
for now, our collective hopes and fears are expressed as speculative price moves.
projects don’t die the way companies do, and the arc of time is long.
we can't pinpoint *when* that shift will happen, but here at @CoinSharesCo - we believe it's inevitable 🚀