@corbin.eth
Current crypto market:
* Crypto went through its IPO / supercycle and Bitcoin was the main beneficiary. High floor price now and roughly 10x upside to reach gold. Not bad.
* Bitcoin didn’t lift altcoins much this cycle bc there are too many tokens and not enough buyers. VCs/investors are recalibrating expectations. Lots of startups shutting down/acquihires/bleeding tokens.
* TAM is now Internet Capital Markets, not web3. Roughly “Fintech” TAM, not “Internet” TAM.
* Crypto is “just another asset class” now and frankly AI and the world order reorienting (precious metals) is more volatile and narrative defining atm.
We shot for the Moon and will have to settle for rewriting the global financial system.
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