GuShiio.com Author: @ kokii_eth
1. The atmosphere is much more deserted than that of last year and the Consensus that just ended, and many panel guests have more guests than the audience.
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two。 We do not see the momentum of the reversal of the secondary market trend in the short term, but we are still optimistic about the US policy shift and are optimistic about the price trend in the second half of the year as a whole.
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3. Several happy and several sad, have propped up the market to raise a large amount of money or successfully sent out the project secretly happy, taking advantage of the low price to attract the chip; has not yet had time to send the star project TGE plan collectively postponed 3 months, the middle waist of the project many run way is not enough.
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4. The return of VC is not satisfactory, and many crypto vc have not sold for a long time; the crypto arm of traditional funds with a lot of money is still investing, but it is more to the side of institutions, such as B2B payments and banks, which is more similar to the logic of Fintech.
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5. Traditional Internet and entertainment companies such as Meta and Ubisoft have become extinct and have been replaced by payment and financial companies such as PayPal and Franklin Templeton. No one has mentioned the word Web3, and the halal idealists attracted by the grand narrative in the last round have recalled it.
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6. The huge narrative is weak, and practitioners are skeptical of the most common business model & ldquo; telling stories, building assets and giving it to retail investors & rdquo;, but they don’t know what to do because of path dependence:
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-the hair chain is still the primary productive force, no matter what the ultimate goal is to build the hair chain, but the so-called ecological construction is back to hacker loose grant and carry the DeFi three-piece set.
& the ecology of nbsp;-BTC is much colder, and there are still a few brothers going back and forth. In essence, they want to repeat the successful split mode of ETH/SOL in the past, find interest scenes for BTC, loan, pledge, stable currency, LP and so on, but the big families are not willing to cede security for these three melons and dates, and the progress is slow.
Nbsp;-ETH doesn’t know what he’s up to. The main venue is full of other Alt-L1 advertising booths. After ZK,Rollup,Restaking, he can’t find a new direction.
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7. The new direction you see:
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-AI: the hottest topic, all kinds of vertical AI Agent and developer tools are everywhere, but there are really few technical barriers or scenarios, most people are optimistic about it, but they don’t know how to start. It’s a big topic to have a chat alone.
After the nbsp;- BTCFi:SAB121 is withdrawn, Bank of America can freely trust the cryptocurrency, and the bank escrow BTC can be transferred to different chains. There is no need to worry about theft even if the profits are all in the chain. If it can be done, it will be a large liquidity injection on the chain.
& nbsp;- RWA:T-Bill upchain is relatively mature. The core of downchain assets is standardizable + trusteeship mature + market large + preferably inactive under the chain. Some emerging assets are being explored, such as alternative assets such as uranium.
& nbsp;- Preconfirmation: the new exploration of Etay Fang, the futures market in block space, now the trading chain is the spot market, and there are many problems, such as gas fee fluctuations and long waiting time. Preconf is to sell the block in advance, which is also the plan that must be used to reduce the capital and growth rate of Based Rollup later.
& nbsp;- InfoFi/AttentionFi:Kaito competitors, since the current main business model is still issuing coins to retail investors, the most important thing is to sell. Now the way to reach the market of a new coin is very primitive, which is basically controlled by large companies, core circles and KOL. It can be understood as the productization of Marketing Agency, how to design a mechanism for people to sell to you spontaneously.
& nbsp;- DeFi/ trading tools: more about optimizing experience, fast winding, anti-clamping, trading signals, chip analysis and so on.
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On the whole, although many people are once again disappointed that there is no actual scene in Crypto, I am very optimistic; in the past, the real money made by the industry was mainly concentrated on both sides of the assets and the pumping links in the middle:
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-Asset issuance: miners, top savings VC, head project side, coin issuer, Launchpad, market maker, secondary institution, stable currency issuer; the core is the ability to create buying orders with money, stories or influence.
-Asset trading: exchanges, public chains, DeFi, trading tools; the core is product power and catching up with the latest market trends.
-Asset flow pumping: KOL,MKT Agency, payment; the core is information asymmetry and channel access.
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The loss of halal community / idealism comes not so much from the gap between the vision (next-generation Internet) and the status quo (casinos / lotteries / money laundering) as because the previous means of creating assets are not enough in the new cycle. At the same price, why should retail investors buy basic construction coins that are basically unused instead of the Trump that everyone knows? If the story told and the target audience of the built product still revolve around existing Crypto users, no matter how stupid they are, they will be reflected after being cut for a long time.
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Looking back at the new direction above, we can see that the fundamentals of the industry continue to improve:
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Asset issuance-& gt; sexier story / more diverse assets / more powerful asset issuer: AI,BTCFi,RWA,Preconfirmation.
-Asset trading-& gt; ‘s more useful product: d eFi/ trading tool.
-Asset flow pumping-& gt; has stronger channel access capabilities: payment, bank, InfoFi/AttentionFi.
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Pandora’s box has been opened, and nothing can stand in it to stop this madness.
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