Two things happened this week that changed how I'm thinking.
Most ppl are saying crypto is growing up, becoming more like Wall Street. They see institutional money coming, things getting more regulated.
But I'm seeing a totally different story. Bitget CEO Gracy Chen even said the biggest market points the other way, tbh.
Look at tokenized equities. July volume for non-QQQB tokens is down 30% from June. Not exactly booming institutional adoption, is it?
Then you got stablecoins. Remittances often no cheaper than traditional transfers. Kinda defeats the purpose for a lot of users.
And security, man. Coldcard bug, CZ saying spread your funds. Even
$XRP had bugs that could allow unauthorized transactions, and it's currently at $1.0584. These are not signs of a mature, secure system.
Even mining is struggling, difficulty falling, weak economics. Makes you wonder.
$BTC is trading around $62686.00 right now. Everyone's waiting for the big breakout, but I'm just not seeing the evidence for it yet.
My read: We're not "growing up" as fast as people think. There are still major foundational issues.
Staying super cautious here. Don't YOLO into anything expecting Wall Street to bail us out. 🤔
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