basically zero innovations in the defi sector btw

instead 10000 more L1s and L2s

think about it

they don't and will not trade the same

its the greatest schelling point

and until majority is convinced this is the next big thing that will change the world or that they have bought the next nvidia for cheap

there is still room to go

so how do you plan to sell retail the same package this time

no upgrades, no extra perks, no bonuses, same risk

would you put your money back with a bank that didn't improve its security after being robbed AND your lost money didn't get refunded

prior to memecycle becoming consensus the market was literally *struggling* to find a narrative to sell

restaking? failed.
socialfi? failed.
6000 new L1/L2s? uhhhh...
+ a few more narratives that i can't remember off the top of my head

ngl at one point i was actually very worried if there was even going to be a cycle because of how we had zero innovations this time

what will attract the normies back?

people kept shouting AI AI AI, but really were any of the AI alts performing other than the week prior to nvidia earnings and TAO?

the thought vomit was in reference to this post btw

one can argue that agi is a real application instead of hehehaha picture memes

https://x.com/cz_binance/status/1861306581758976434

President-elect Trump Is Considering Naming An AI CZAR In The White House to Coordinate Federal Policy And Government Use of Emerging Technology.: Axios

Talus Network raises Polychain-led funding round at $150 million valuation, plans TikTok-linked 'AI dating experience' — link | tl;dr

During the recent rally to $99.4K, Long-Term Holders’ Net Position Change dropped to -366K BTC/month, marking the highest selling pressure since April 2024. This signals significant profit-taking by LTHs, but it's important to examine which sub-groups within LTHs contributed to this.

Looking closer, 6m-12m holders led the activity, spending 25.6K BTC/day (7D-MA). Their cost basis, estimated at $57.9K (71% below market price), explains the incentive to capitalize on the rally. This aligns with natural behavior for intra-cycle holders like ETF-related buyers from earlier this year.

Key takeaway: Most selling pressure came from buyers in the $50K–$60K range, indicating intra-cycle LTHs drove profit-taking. There was minimal sell-off by OG long-term holders, whose behavior typically signals deeper shifts in market sentiment.

BTC Long-Term Holder Net Position Change chart: https://t.co/hr64gBGUCd

BTC Spent Volume in Profit by Age chart: glassno.de/3CF66lA

BTC SOPR by Age chart: glassno.de/3ATrqmP

Pantera Bitcoin Fund hits 1000x milestone, bought 2% of BTC supply in 2013 — Link

I certainly don’t understand all the nuances of the incredible technology projects happening in the space, but I feel like I’ve seen this movie before.
 
I was the first asset-backed securities trader at Goldman Sachs.  Now everyone recognizes ABS as an asset class.  I was there when they did the GSCI.  Now everyone thinks of Commodities as an asset class.  In the 90’s I was investing in emerging markets.  Now everyone thinks of EM as an asset class. 
 
Blockchain will be just like that.  I believe that in the not-too-distant future every investment firm will have a blockchain team and a sizable, permanent blockchain allocation.

chat is this real 😭