Covduk Profile picture
Jul 11 27 tweets 12 min read
Messari published it’s Crypto theses for 2022 a while ago.

It’s a 165 page report covering the key trends, predictions & the future of crypto.

I’ve read it all so that you don’t have to.

Here are the takeaways from the top 10 Crypto narratives for 2022.
This may be better to listen to. Here’s the video on my youtube.

Like & Subscribe!

1. The Collapse of Institutional Trust.

A lot of people in crypto view it as a life raft to escape from the grueling cycle of the economy.

• Public Debt is high
• Inflation is high
• Hike in interest rates.

People believe they won’t be able to retire without a miracle.

82% of Americans disapprove of Congress.

Crypto represents a change in the system. A new hope.

The system is broken.

The conventional system was set up by boomers for a different age.

Here’s a good thread by @leashless:

@leashless 2. Crypto is inevitable.

A user owned economy will outperform a monopolistic owned economy. And we’re well positioned to make it happen.

Young folks have little to lose. Society is tired of the low returns & high fees. The environment is primed for change.

@leashless We’ve:

• Talent: Passionate, driven youngsters & some of the best minds out there

• Capital: Huge venture funds & round valuations.

• Timing: The foundation has been laid over the last decade. The tech works. Interest & adoption is steadily rising.

@leashless 3. Bridges, NFTs & DAOs.

3 areas that are underdeveloped atm:

• NFT infrastructure
• DAO tooling
• Inter-bridge protocols

NFTs have exploded. But NFT tooling is still missing.

• Marketplaces
• Tools for creators
• Reputation/Identity Management

@leashless DAO tooling.

DAOs are struggling with management.

• DAO governance is a joke & is all over the place
• Investments take too long

Most DAOs are failing. They need to get 100x better to compete with centralized groups.

This is likely going to be another hot space.

@leashless Scaling Solutions

Eth has been struggling with scaling. This led to the rise of alt L1s.

One of the biggest pain points is the lack of interoperability between chains.

Solutions to this problem will be very hot.

@leashless 4. The Decoupling of Cryptos.

Crypto is evolving. Different sectors have different sources of value.

NFTs are driven by different factors. DeFi is driven by different factors.

The information asymmetry for each space is becoming larger.

@leashless It’s impossible for one person to stay on top of everything.

This is why funds & their teams are having a great time at the moment.

They’ve the man power to stay on top of asymmetry.

@leashless 5. Permanent Venture Capital.

An insane amount of capital came into crypto in the last year.

In the bull run, these funds made billions of dollars. A16z, paradigm & the others made a lot, raised a lot & now are waiting to buy the blood.
@leashless On Institutional Capital...

On top of this, other institutions are coming into Crypto.

Despite some getting rekt, it looks like the intuitions are here to stay.

@leashless 6. How High we can fly.

Well, the crash did indeed come. But I’ll touch on the top signals Ryan was looking at.

MVRV (Market Value to Realized Value) can be a useful indicator.

MVRV at 3 - good time to take profits

MVRV below 1 - good time to buy…

@leashless Ethereum

It’s unlikely that Eth will flip BTC this cycle.

Eth’s scaling challenges need to be addressed first.

Instead, Ryan feels like it’s more interesting & realistic to consider whether L1s collectively will flip BTC.

@leashless Alt L1s

There are a lot of Alt L1s that are fiercely competing with each other. Who wins is all gonna come own to:

• Good app distribution
• Attracting top talent to build on non eth chain.

These chains are going to move with eth.

@leashless DeFi

DeFi represents less than 1% of global banks market cap. The upside that remains long term is enormous.


• Rates of top tier protocols are stalling
• Lots of technical & security problems
• Defaults

It's not compelling for everyone yet

@leashless NFTs

Huge opportunity. In September it was estimated that NFT mcap was around $14B.

NFTs will be the trojan horse for mass adoption of crypto. Long term, the scope of this market is huge.

NFT infrastructure remains a huge opportunity.

@leashless 7. Surviving winter.

Well, the crypto winter is here.

There’s a lot of negativity. People are going to lose faith in crypto. FUD is gonna be high. Critics rejoicing. Lot’s of big folks going bust.

It’s going to be tough. But revaluate your faith in crypto & stick it out.

@leashless If you're staying:

• Stay away from leverage
• Prepare for taxes
• Don’t short
• Don’t catch the falling knife
• If you’re a builder, protect your treasury
• Build
• Be more cautious

Wgmi → We gonna survive

@leashless 8. Public Options

Although Coinbase’s increase in valuation has been impressive, it hasn’t been comparable to BTC & ETH.

However, public companies serve a big purpose: Marketing.

It strengthens the narrative for the masses.

Public stocks also have alpha in their filings

@leashless 9. CopyTrading VCs

Crypto trading is social & meme driven. A lot of money has been made copying top VCs & chasing memes.

The market rewards builds & fast followers.

@leashless Here's a step by step demo on finding & tracking smart money on my youtube.

Subscribe for more crypto guides.

@leashless 10. What Messari Analysts are holding.

Remember, this is from a long time ago, don’t attempt to copy this stuff.

Instead, look at what areas they like & why.

@leashless I highly recommend reading the full report.…

It’s been some time since this has been published, things have changed.

Not everything will be right.

Instead, look at the larger picture & use this to learn.

@leashless I hope these top 10 narratives & trends for 2022 from Messari's report was useful.

• Give this a RT

• Follow me @Cov_duk for more

• Subscribe to my Youtube for guides, demos & interviews!…

• • •

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

Keep Current with Covduk

Covduk 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!


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 @Cov_duk

Jul 12
Crypto is made up of startups & VCs

Understanding them will give you an edge.

Here are 8 lessons from the Startup World 🧵
This may be better to listen to. Here's the video on my youtube channel:

Like & Subscribe!

1. Lean Startup Philosophy

The lean startup methodology is a more recent way of thinking in the startup world.

There’s a key flaw in how most people approach building.

A lot of people like to build the “perfect” product first, then get it out to the market.

Read 26 tweets
Jul 10
Using on chain data in your investing research will give you a huge edge.

You can do so for FREE with Etherscan.

Learn how to use Etherscan effectively in 5 minutes 🧵
Etherscan is a block explorers that allows you to look at on chain data on eth.

It has a lot of valuable info for free & can be a great source of alpha.

Other chains have other block explorers that are similar to Etherscan.

Before we start, if you're not too familiar with the basics,

Here’s a tweet by @manabubannai that goes over the basics of Etherscan:

Here’s an explanations of key terms:…

Read 25 tweets
Jul 6
I’ve made a lot of mistakes. But, I learnt from them.

Read this thread to become a better crypto investor

Here are 11 good investing decisions that I made. 🧵
1. Making fewer, high convictions plays

I’m a pretty impatient guy. I often struggle with playing the long game & can be too trigger happy.

I’ve been forcing myself to be more patient. I’ve turned my focus to make fewer, well researched plays that I believe in instead.

And the results have been good.

A lot of people tend to overmanage their portfolio & make too many plays.

A strategy that returns more is to just wait for the good opportunities & hold off on the urge to jump in on everything.

Read 19 tweets
Jul 3
I’ve made a lot of investing mistakes.

Read this thread to avoid years of losses & pain in 2 minutes.

Here are 16 common investing mistakes & how to avoid them 🧵
1. The Sunk Cost Fallacy.

When you’re losing money, it’s hard to cut your losses.

I failed to cut losses in time because I thought “I’m down 50% already, how much lower can we go”

And every time I did this, I regretted it. 50% is better than 0.

Cut your losses.


It’s very easy to resist the urge of aping into a coin that’s pumping.

Everyone is talking about it. Everyone made millions, except you.

It’s super hard to resist the urge of joining them. I’ve done this countless times & it’s always ended up in losses.

Read 27 tweets
Jun 27
I analyzed the top 10 crypto wallets.

Here are 6 takeaways, trends & insights from the analysis 🧵
I analyzed the top 10 wallets on Debank

Check out the full analysis over here:

Here are the common themes & trends that I observed 👇
Ethereum is the chain of choice in the bear market.

When I analyzed these whale wallets back in April, assets were more distributed amongst different chains.

6/10 wallets had a majority of their assets on Ethereum, with sizeable positions on other chains.

Read 16 tweets
Jun 25
I analyzed the top 10 crypto wallets to understand what they’re doing.

Here are the takeaways, insights, trends from the top 10 crypto wallets.

June Edition
I analyzed the top 10 wallets on DeBank to gain insights.

This thread contains an overview & takeaway from every single one of the top 10 wallets.

If you want to look at the common trends & holdings across all of them, skip to the end (link to substack version below)

Some disclaimers.

• These are the top 10 wallets according to Debank’s ranking
• These only include ETH & EVM chains
• These wallets represent 1 hot wallet. Whales have multiple wallets & spread them out. This won’t include all their holdings.

Read 53 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

Don't want to be a Premium member but still want to support us?

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

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!