Founder & CIO @DeFianceCapital, a thesis driven crypto investment firm.
Cynical Optimist. Nuance is the most underrated thing in crypto.
6 subscribers
Apr 13, 2023 • 5 tweets • 2 min read
With Shapella's successful upgrade, a major technical risk of Ethereum is removed.
Market can now access near risk-free ETH denominated yield and have liquidity via liquid staking, expect staking% of 15% to double from here in one year and Lido capturing most of the growth.
Lido is the greatest beneficiary of US's crypto hostility. gaining market share over the past few months, effectively absorbing (Binance + Coinbase + Kraken)’s market share loss. Expect this trend to continue as US continue to be hostile to crypto while decentralized alternatives
Jul 17, 2021 • 15 tweets • 3 min read
A (developing)thesis on current crypto market structure and why it leads to extreme volatility throughout the market cycles:
1/ Currently there is 4 broad category of market participants in crypto: retails, crypto hedge funds, crypto VC, institutions (Microstrategy etc)
But this also means crypto have run ahead of itself in terms of market development. A key category of market participants is missing.
