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When Crypto Projects Run Out of Supply, What Can Traders Trade?

The article examines the severe downturn in the crypto market, particularly the sharp decline in Bitcoin and altcoin prices, and raises a critical question: what will traders be able to trade in a year if the supply of new crypto-native projects dries up? Data shows a structural collapse in early-stage funding for crypto projects (like L1s, L2s, DeFi), with a 63.9% drop in seed/angel rounds over four years. This "first-level market death" means fewer new tokens will launch, leaving exchanges and traders with a shrinking pool of native assets. Even established crypto funds are struggling with poor returns and low cash distributions post-2020. While memes surged as an alternative, they have evolved into short-term, attention-based assets driven by liquidity and speculation—not sustainable replacements for traditional altcoins. The industry is now looking outward for solutions: - **Tokenization of real-world assets (RWA)**: Platforms are listing tokenized stocks, metals, and indices to attract traders with traditional market volatility and narratives. - **Prediction markets**: Platforms like Polymarket are growing rapidly by allowing direct betting on real-world events (e.g., elections, macro trends), simplifying speculation to yes/no outcomes based on probability. In conclusion, as native project pipelines shrink, the market is shifting from "new token-driven trading" to speculating on external uncertainties and tradable narratives from the broader world. Traders must adapt to this new paradigm.

比推02/02 16:23

When Crypto Projects Run Out of Supply, What Can Traders Trade?

比推02/02 16:23

The Bustle Belongs to the 'Epsteins', Saylor Just Wants to Hoard Coins

The article discusses Michael Saylor, founder of MicroStrategy (now Strategy), in the context of the recently released Epstein documents. Saylor was mentioned in a 2010 email from Epstein's PR agent, Peggy Siegal, who described him as a socially awkward "zombie-like" figure who was difficult to engage with at a high-society dinner party. This perceived social ineptitude, a liability in elite circles, is presented as a key strength in his role as a Bitcoin maximalist. Saylor’s company is the largest corporate holder of Bitcoin, with 712,647 BTC purchased at an average cost of $76,037. Despite recent market volatility pushing Bitcoin below his average buy price and causing a 60% drop in his company's stock, Saylor remains unwavering. His strategy is simple and relentless: buy Bitcoin consistently and never sell, a philosophy he summarizes as "More Orange." The piece argues that the very traits that made him an outsider in social settings—being "boring," unemotional, and immune to external noise—are the same traits that make him uniquely suited to his long-term, single-minded accumulation strategy. While cautioning that his corporate financial tools are not available to the average investor, the article concludes that in a noisy market, a "boring" and disciplined approach is often the most profitable, contrasting Saylor's current success with the downfall of many involved in the Epstein scandal.

比推02/02 14:18

The Bustle Belongs to the 'Epsteins', Saylor Just Wants to Hoard Coins

比推02/02 14:18

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