Before you get terminally depressed about the market, remember this quote from Howard Marks:
“Every once in a while, an up-or-down-leg goes on for a long time and/or to a great extreme and people start to say "this time it's different." They cite the changes in geopolitics, institutions, technology or behaviour that have rendered the "old rules" obsolete. They make investment decisions that extrapolate the recent trend. And then it turns out that the old rules still apply and the cycle resumes. In the end, trees don't grow to the sky, and few things go to zero.”
Markets exist and find a space between man-made mental extremes, and it goes on and on.
Establishment (venture backed crypto) vs people’s trenches (memecoin games) is the defining story of this crypto market cycle so far.
The oft-overlooked thing is even if we assume crypto VCs are wholly exploitative (they’re not)
Their very business model requires continual vintages + reinvestment into the industry.
Meme trenches games on the other hand are purely extractive; money obtained by rug pulls does not re-enter.
This is effectively what has happened in alts where the cycle collapsed under the weight of its own excesses as the average participant gets poorer.
A cynic would say that was it, the cycle is irreversibly over.
A realist would say that was a natural maturation of the market.
The state of Solana DeFi:
- Copycat Aave's old tech
- Slap a half baked UI
- Restrict also UK users from using it
- Solana foundation president calls it a better product
Expect people to buy the bluff.
because of crypto, ive achieved what a lot of ppl take 50 years to achieve at just 23:
- balding
- trust issues
- enough money for ubereats everyday
- gambling addiction worthy enough to ruin families
Woots PendleSwap is now here!
🎄Select up to 3 coins (yes, THREE coins)
🎄Paste the addy of ANY token - DeFi, RWA, memecoins...
Badabing badaboom, you just secured the BEST rate on the market for your next big move
Oh and NO extra fees, consider this a public good in this season of giving 😉
Love 💙
Your good pal Pendle
Top performers (top 100) since the election.
If you caught none of these, you're not locked in enough.
If you caught all of these, you need to quit trading and seek help.