📰 The most interesting takeaway from this article is that the crypto market is shifting away from “altcoins all going up” and toward a phase that places greater value on real revenue and buybacks.
The external environment in the third quarter was actually quite unfriendly. The US-Iran conflict repeatedly drove oil prices higher, with Brent crude briefly topping $108.50. Gasoline prices rose 27.4% year over year, and the Federal Reserve delivered its first rate hike since 2023. Yet, despite all this bad news piling up, Bitcoin rose 42% in the third quarter.
🔥 But the money behind this rally came mainly from spot Bitcoin ETFs, rather than the kind of broad altcoin frenzy we saw in the past. The article notes that Bitcoin is now more closely correlated with the Nasdaq, while its correlation with gold has weakened. Oil prices, inflation, and interest rates are becoming key variables affecting BTC.
💡 There’s also a contrast in the RWA space. There’s plenty of market chatter, but the main source of new trading volume hasn’t been entirely new asset classes appearing on corporate blockchains—it’s been RWA perpetual futures, such as those tied to stocks. On Robinhood and Circle’s onchain platforms, trading is still dominated by meme assets.
Honestly, maybe we can’t pick tokens based on hype alone anymore. Projects with protocol revenue and ongoing buybacks clearly outperformed other altcoins in the third quarter. Do you agree with this shift? Are you more interested in revenue and buybacks now, or will you keep betting on hot narratives?
#加密市场 #比特币 #RWA #Altcoins
The external environment in the third quarter was actually quite unfriendly. The US-Iran conflict repeatedly drove oil prices higher, with Brent crude briefly topping $108.50. Gasoline prices rose 27.4% year over year, and the Federal Reserve delivered its first rate hike since 2023. Yet, despite all this bad news piling up, Bitcoin rose 42% in the third quarter.
🔥 But the money behind this rally came mainly from spot Bitcoin ETFs, rather than the kind of broad altcoin frenzy we saw in the past. The article notes that Bitcoin is now more closely correlated with the Nasdaq, while its correlation with gold has weakened. Oil prices, inflation, and interest rates are becoming key variables affecting BTC.
💡 There’s also a contrast in the RWA space. There’s plenty of market chatter, but the main source of new trading volume hasn’t been entirely new asset classes appearing on corporate blockchains—it’s been RWA perpetual futures, such as those tied to stocks. On Robinhood and Circle’s onchain platforms, trading is still dominated by meme assets.
Honestly, maybe we can’t pick tokens based on hype alone anymore. Projects with protocol revenue and ongoing buybacks clearly outperformed other altcoins in the third quarter. Do you agree with this shift? Are you more interested in revenue and buybacks now, or will you keep betting on hot narratives?
#加密市场 #比特币 #RWA #Altcoins