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Coop
@coopahtroopa.eth
Feel like crypto has hit a bit of a stalemate right now. Everyone understands the name of the game is bringing new people onchain but yet 99% of all volume is still driven by the same cohort of ~25,000 crypto-native users. I'm not seeing real interest or demand from people to "get into crypto" and the most successful apps (like Polymarket) don't really have any downstream effects which makes those users want to check out other crypto apps or go deeper down the rabbit hole. More and more my friends simply net out at "buy more Bitcoin" and frankly I don't think that's a bad take given how safe a bet it is relative to the slaughterhouse that's the memecoin trenches these days. Am I alone in this thought or do other people feel this too?
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dee
@dee
a lot of people dont want to “get into crypto” because they dont see themselves in it. they see it as this “other” thing that’s divorced from their day to day reality, or non-financial experiences. alien for a lot of the non-twitter world. and the space is going through both instituonalization and politicization — stables, ETFs, sovereingn and corporate participation, and legislation are what excite the market, but those dont excite the average everyday person. most people dont want to be involved in wall st and white house convos. only so many people can move institutional volume, too, so it kinda makes sense that number stays flat or maybe declines also makes sense why the retail investor narrative is just buy bitcoin because bitcoin is how retail can seemingly participate alongside institutional accumulation i.e “states and companies are buying, i guess i should too.” last bit of the industry’s first maturation cycle. next up: consumer but gotta run the institutional course first.
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