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- 🗿 What to expect from the latest crypto run
🗿 What to expect from the latest crypto run
Crypto market capitalization is at an all-time high, nearly $1T higher than 2021. This time feels a little different.
Jared @ Supernova
December 06, 2024
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GM. Crypto is back. Market capitalization is at an all-time high, nearly $1T higher than 2021. Only this time, things feel a little different..
Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.
New Decentraland desktop client for Mac and Windows
Enhanced avatars and social interactions
Improved performance and upgraded environments
New features: badges, daily quests, and mini-games
With crypto’s market cap fast approaching $4T, people are wondering what’s next and where the opportunities lie. I know I’m not supposed to say this, but this time feels a little different.
Sure, Hawk Tuah girl pumped and dumped this week. But that’s a flash in the pan compared to the 2021 bull – when hundreds of celebrities flocked to crypto across seemingly every aspect of media and advertising.
I don’t have to name names. You remember.
This cycle feels different, because well, people are quieter about it. It might be better off that way. Here are some trends to look out for during the latest bull run:
Increased net inflows from institutional investors
Further meme-ification of finance
Rise of onchain AI agents
A second chance for music and gaming (and by extension IP)
Institutional money in crypto
3 years ago, Kevin O’Leary (the shark tank guy) shrewdly pointed out the untapped potential of institutional investment in Bitcoin.
“You want to talk about bitcoin going to $100K, $200K, $300K? It’s going to happen when institutions can finally buy it.”
In other words, when institutions finally get the go-ahead to buy crypto from regulators in the face of ESG mandates, “the price of the coin is going to appreciate dramatically,” O’Leary concluded.
When O’Leary made that statement in 2021, there was no Bitcoin ETF, no Ethereum ETF, no light at the end of the tunnel to stop anti-crypto activists like SEC Chair Gensler or Senator Warren from pushing harsh regulation.
Today, the largest economy in the world has an unprecedented crypto-friendly administration entering office. In tandem, banks and corporations are slowly changing their tune and treating digital assets like an opportunity, rather than a threat.
This is the first big opportunity for crypto to legitimize itself on an institutional level at scale. The potential cannot be understated.
Memes x finance
Memes are the currency of Internet culture. They are visual manifestations of trends and conversations, contemporary news and politics, music and art. They represent the future of media and entertainment.
Finance, on the other hand, is living in the 20th century. With grey desks and powerpoint presentations, it’s a world in desperate need of a makeover.
Mix in instant communication, mass consumer media, hyperinflation, and exploding national debt, and you get a global socio-economic movement of everyday people fed up with legacy financial systems, looking for an alternative. Enter memecoins.
Memecoins break the Internet. It's a f*ck you to traditional finance and media. This is only the beginning, not the end.
Rise of AI agents (onchain)
Not an expert on this by any means. Would recommend reading this article from Coinbase CEO Brian Armstrong instead. But I’ll leave you with this snippet:
“AI agents cannot get bank accounts, but they can get crypto wallets. They can now use USDC on Base to transact with humans, merchants, or other AIs. Those transactions are instant, global, and free.”
A second chance for music and gaming (and by extension IP)
Music and gaming have long been an ideal use case for crypto. Many have tried, few have made progress, no one’s really figured it out.
onchain music and gaming (ip in general) is clear yet no one has figured it out
— jared wolf (@jar3dwolf)
8:15 PM • Dec 4, 2024
Story Protocol has a good foundation for onchain IP in general, but it’s too early to tell if it’ll work. Audius has a good concept for a decentralized DSP (ie Spotify), but from a distance feels like it fell flat.
People want access to all music, not just new music uploaded onchain. Gaming is seeing some traction with TG mini apps, but AAA studios still don’t see the value of onchain collectibles or the like.
With more institutional trust and a fresh perception that skews more positive and less opportunistic, I think there’s a major opportunity for crypto to tap into music and gaming in this latest cycle.
I asked 35,000 people what's the biggest problem in music and BY FAR the most common answer was "music is undervalued".
This begs the question:
Is music valued more or less today than during the pre-Spotify, piracy era?
— Rob Abelow (@AbelowRob)
1:58 PM • Dec 6, 2024
Obviously music is broken. Just need something global, equitable, creator-centric, innovative to fix it. * cough cough *
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