nice summary. Though I would suggest the 'old coin bad / new coin good' meta will change for two reasons:
1) many of the old coins (e.g. DYDX, MKR) now generate real revenue for holders. the challenge is separating the ones that can grow and distribute value vs the ones that are simply old coins (e.g. SUSHI)
2) many of the old coins are fully diluted, whereas the new coins are not. this is fine for short time frames, but holders will get rekt on STRK and TIA while old coins with no unlocks and fresh narratives outperform (see defi this week as an example)
Another great piece, so much to digest, awesome
nice summary. Though I would suggest the 'old coin bad / new coin good' meta will change for two reasons:
1) many of the old coins (e.g. DYDX, MKR) now generate real revenue for holders. the challenge is separating the ones that can grow and distribute value vs the ones that are simply old coins (e.g. SUSHI)
2) many of the old coins are fully diluted, whereas the new coins are not. this is fine for short time frames, but holders will get rekt on STRK and TIA while old coins with no unlocks and fresh narratives outperform (see defi this week as an example)
Viktor definitely one of the best! If you put your trades behind the paywall, you got subscriber.
Amazing mate, you covered almost everything, good job
Best of All time
hey viktor, loved this post. Would you be interested in joining David and I on the pod to discuss? if yes, dm me on twitter or email me
Excellent write up man 👌
The best email I read so far in 2024
Great piece, been wanting to study this but no need anymore! Thanks
Very dope, thank you
Thanks for this Viktor. Really great synopsis on our past and current cryptuation! Interested to hear your thoughts on how it will affect the future..
Amazing article, thank you for your hard work, bringing us top quality knowledge!
awesome
Great recap of the last cycle. This one is gonna fun!
Best article I’ve read in a long time. Funny to read all the narratives back and crazy valuations. Fun times coming again!
Amazing analysis, thanks for sharing