- GM, No Fomo
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- đż Crypto is Up, Now What?
đż Crypto is Up, Now What?
Crypto has grown 60% since Jan 10 but no one seems to care
GM. Market sentiment remains high as we roll into the weekend. Crypto has grown 60% since Jan 10 but no one seems to care.
â *knuckle cracks* â Letâs get into it.
Todayâs Specials:
No Fomo đż: Whatâs Next For Crypto?
No Fomo News đ° : Joe Biden Proposes New Crypto Regulation
Whatâs Next For Crypto?
Itâs been 15 years since Bitcoin launched. Ethereum went live in July 2015. We saw cryptoâs mainstream moment in late 2017, with ICO madness and Bitcoinâs breakout.
Fast forward to 2020. The entire world is forced to reevaluate our relationship with digital. Crypto exploded again and popularized NFTs â celebrities, brands, governments, entrepreneurs, and investors flock to digital collectibles and blow up crypto transaction volume. Remember Logan Paulâs $623K NFT??
Enter February 2022. Russia invades Ukraine and the market implodes ⌠as it tends to do. Countless headlines pose the question in collective amnesia: Is crypto over (again)?
Here we are today. Blackrock ETFs get approved. The SEC keeps losing lawsuits against the crypto industry. Bitcoin and ETH are flirting with all-time highs. Since January 10, the crypto market has increased 60% to $2.4 trillion. But in a weird dichotomy, it doesnât feel like the last bull run.
Looking at Google Trends, crypto has slightly increased as a search term. But itâs nowhere close to previous levels at the peak in 2021.
Celebrities arenât talking about it, and the overall user base doesnât seem to be growing much. Starbucks is sunsetting its NFT loyalty program. Prices are higher than ever, but the hype (outside the crypto community) is lackluster at best.
Where do we go from here??
We see three potential outcomes:
Crypto Just Becomes Another Asset Class. Institutional adoption, beyond market growth, will simply reduce volatility and make it easier to pay taxes. âWeb3â, on the other hand, the app + will become public distributed computing.
Crypto Centralizes, Then Decentralizes. Trojan Horse Theory. What if, hear me out, crypto centralizes on the promise of being a good boy. Wins the favor and approval of Federal governments, Central Banks, Financial Institutions, Lawmakers, Regulators, and Corporations. Then, it becomes such a behemoth (sort of like AGI) that it canât be stopped. Then we collectively pivot crypto back to its decentralized roots, the Trojan Horse, Pandoraâs box, if you will, is released and we realize our decentralized Utopia. The crypto market is always replacing itself anyway. Only 28 of the top 100 tokens from 2019 are still in the top 100. Can it ever be tamed?
Big Tech, Lobbyists, Regulators, Financial Institutions, and Corporates Take Over Crypto For Good. This is probably the bleakest outcome in terms of values, but good for market performance nonetheless. Itâs likely that the institutions at-large gobble up crypto entirely, and like any other cutting-edge technology that started out with scrappy entrepreneurship and rugged innovation, it will plunge into centralized dystopia.
What scenario do you hate the least? |
No Fomo News đ°
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AI
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BlackRock Creates Fund With Securitize, a Big Player in Real-World Asset Tokenization (CoinDesk)
Bitcoin Remains Overbought Despite Recent Correction, JPMorgan Says (CoinDesk)
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Tech
Mining Memes âď¸
Ozempic babies đ
incredible
ozempic solving the obesity epidemic and fertility rate crisis with one pill
â delian (@zebulgar)
1:28 AM ⢠Mar 22, 2024
Crypto in-fighting be like
âWhat have your internet friends been up to recently?â
Me:
â Alan Carroll (@alancarroII)
2:27 PM ⢠Mar 22, 2024
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