market
market in a weird spot where
> people are tired of memes
> want something more legit
> but still want number go up
> new metas are unsustainable bc they quickly reach "overvalued", but they have nothing to show -> reverts back to mean
solution:
> lots of existing protocols that show growth, who are now at undervalued prices - eg mpl, frax, pendle, etc.
> lots of new protocols that havent experienced the cycle high to the overvalued stage, who have been quietly building and can quickly re-rate higher
- eg initia as an example of something re-rated
im a fan of bidding such alts rather than onchain overvalued tokens, onchain is cool but it re-rates too quickly & gets diluted in hours;
people are tired of getting diluted now -> go back to cexes who have stricter requirements but coins that are cheap (sub 150m)
10.29K
20
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