🇨🇦 CANADIANS CAN NOW TRADE CRYPTO & STOCKS VIA X
X has launched today a pilot integration with Wealthsimple, Canada's leading brokerage, allowing Canadian users to trade seamlessly from X.
With Cashtags, tapping any ticker takes investors straight to Wealthsimple to execute trades.
"memecoins are dead"
I've been seeing a lot of posts being made about this, and I disagree with what everyone has to say.
If you've been keeping up with the crypto market, we've been in a bear market since October (roughly 5 and a half months). Anyone that says otherwise is stupid.
Liquidity is simply exhausted. Even major funds and institutions aren't deploying huge amounts of capital into crypto assets such as $BTC, $ETH & $SOL.
Now if the biggest assets of crypto aren't receiving any significant inflows by the biggest firms in the world, why would 'normies' or 'retail' buy into memecoins, the highest risk and lowest conviction assets?
In my opinion, memecoin liquidity is usually excess capital that investors have after they've made money on assets like $BTC, $ETH & $SOL. Majors will often lead the bull cycle while memecoins will end the bull cycle.
I strongly believe that we're in the post-euphoric phase of the cycle, where large whales and institutions become risk off. If 'smart money' is being cautious, that would naturally make normies be even more cautious, don't you think?
Also for the people asking launchpads such as @Pumpfun & @bonk_inu to help us onboard retail to push coins higher, I think you're failing to understand that currently distribution is stuck inside of crypto Twitter, and that is because attention has drifted off assets such as $BTC, which will also affect the assets that are underneath Bitcoin, such as memecoins.
During bull markets, narratives escape CT and enter platforms such as YouTube, TikTok and become mainstreamed, which is what brings fresh retail/liquidity. Right now most narratives are just stuck within CT, so it's the same capital being recycled and passed around.
Now for anyone saying that $PUNCH is the perfect example of a coin escaping CT, I agree with you, however it was launched during February where we saw majors like $BTC, $ETH, $SOL getting rekt. Risk appetite would obviously decrease as investors would feel less confident in deploying capital into crypto.
If $PUNCH was launched during last year's January where inflows and risk-on assets were almost the highest, it would've likely hit a much higher market cap.
The deployment of $PUNCH was a test for many people to see where memecoins are and many failed to realise that liquidity and cycle timing wasn't in their favour.
Also just a quick thing, do some of you guys really think 'retail' will be trenching and sitting down for 10 hours a day like @flipski77 or @Cupseyy? You would be pretty stupid to think retail would behave like this. Retail, given any cycle, would rather hold coins because they're not in favour of sitting in front of a screen for 10 hours a day like some of us on CT.
They would prefer to enjoy life and not worry about constantly checking their positions.
I believe that memecoins still have a long way to go and are far from over, as a matter of fact I believe memecoins have only just gotten started.
I remain optimistic about the future of this industry.
GM! ☀️
🚨🇺🇸 MASSIVE NEWS: The US wants to open 401(k) retirement plans to alternative assets, including cryptocurrencies!
With 90M Americans and around $10 TRILLION in assets, the potential impact is astronomical. Get ready for some green candles in the market.
Bullish?
@elonmusk@mreiffy@Elonmusk To become the real "Everything App", X needs his own currency. Will we be entitled to a native blockchain token for X Money, with a direct swap between currencies when the wallet is opened? The ecosystem would be perfect.