Share this page!

Derman Profile picture
Twitter logo
26 Sep, 6 tweets, 4 min read
1/ $BTC is continuing to act similarly to previous cycles and is still following the stock-to-flow model fairly well (popularized by @100trillionUSD)
2/ #Bitcoin’s price from 2016-current is mapping shockingly well to 2010-2013
3/ This past week, @Twitter integrated bitcoin tipping for twitter accounts, running off the bitcoin lightning network
4/ The @lightning network is a layer 2 protocol built on top of #bitcoin (layer 1) and capacity and number of nodes on lightning have skyrocketed

Source: @BitcoinVisuals
5/ The 4 year #bitcoin cycle in more detail but same story
6/ / Back to thread outline

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Derman

Derman Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @DermanCapital

Derman Profile picture
26 Sep
1/ All Things Crypto

A thread
2/ TLDR

1) #Crypto is growing rapidly with mass adoption through #NFTs and the market is rewarding L1s with this functionality

2) $BTC is driving the crypto market and continuing the 4 year cycle

3) We should watch out for L1s decoupling from BTC cycles as adoption accelerates
3/ Today, I want to cover all things crypto that I am seeing in the market. These are broken down in the following sections:

1) Macro
2) $BTC
3) NFTs
4) $ETH
5) $SOL
6) Layer 1s ( $AVAX, $DOT, $ADA, etc)
7) Super Cycle Theory
8) 30k Foot View of #crypto
9) Final Thoughts
Read 14 tweets
Derman Profile picture
26 Sep
1/ The Super Cycle Theory

Many of been hearing the idea of the #supercycle for #cryptocurrencies and I want to give my take on this idea
2/ But first, let me define what the super cycle means to me

It is when #cryptocurrencies including $BTC break away from the historic #bitcoin cycles corresponding to the #bitcoin halvings

They start to go up or down based on their own fundamentals
3/ It is abundantly clear these cryptocurrencies such as $ETH, $SOL, and $ADA have yet to hit escape velocity

For example, when #bitcoin crashed in May 2021, all other #cryptocurrencies still crashed and crashed way further than bitcoin
Read 7 tweets
Derman Profile picture
26 Sep
1/ There are other layer 1s being adopted. Some layers 1s include:

1) @avalancheavax

2) @Polkadot

3) @Cardano

And so many more that are in development or early stages
2/ @avalancheavax

Another smart contract platform, $AVAX has gone from 0 to ~$4bn in TVL in 6 months

Source: @DefiLlama
3/ $AVAX continued

Let's not forget those NFTs
Read 10 tweets
Derman Profile picture
26 Sep
1/ Adoption of #Solana is hitting critical mass. A popular #Solana wallet, @phantom, has been live 6 months and already has 400k weekly active users
2/ And the entire $SOL ecosystem. The point is that there is a lot in this picture

Source: @solanians_
3/ Total Value Locked in #DeFi protocols on #Solana are nearing ~$9bn as of this writing. Exponential growth anyone?

Source: @DefiLlama
Read 10 tweets
Derman Profile picture
26 Sep
1/ $ETH is easily the most compelling cryptocurrency broadly among the crypto community

We can see this in how rapidly the number of #Ethereum active wallets is growing
2/ Total value locked in DeFi protocols on #Ethereum hit all time highs recently. Currently at $124bn

Source: @DefiLlama
3/ The number of daily transactions on #Ethereum broke 700k recently (30 average)
Read 7 tweets
Derman Profile picture
26 Sep
1/ #NFTs are showing the power of an idea and movement among a group of people with a similar ideology or passion. And #NFTs becoming a symbol by which these groups identify themselves in the digital world
2/ It may be hard to see the value here but imagine being buying digital memorabilia of your favorite sports team vs a team you have never heard of. I doubt you would be as price sensitive for something that you identify with.
3/ And these #NFT communities are lively! Most notably is the @BoredApeYC. They have a roadmap and currently the floor price is ~39 ETH minimum (~$120k). To be a part of this, you need to own a Bored Ape NFT
Read 21 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @DermanCapital has new unrolls!

Check out other threads from @DermanCapital!

Read all threads by @DermanCapital

:(