More importantly, degens and whales are speculators and liquidity providers, not “users” proper. To eventually reduce market cyclicality, crypto projects need to find actual use cases where they can beat existing services. For now, the obvious cases are still pretty limited: cross-border payments (mostly meaningful for BTC), NFTs (mostly meaningful for ETH) and, to a lesser extent, gaming – where there is a huge market, but the actual advantages of crypto are a bit less clear.
The Most Important Bear Market in Crypto History
