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.
Related posts
-
Crypto Majors Subdued After Fed’s Hawkish Stance
The biggest cryptocurrencies fell during the European morning, extending the subdued mood after the Federal Reserve... -
U.S.-Listed Bitcoin (BTC) Miners Reached Record Total Market Cap of $22.8B in June, JPMorgan (JPM) Says
The bank noted that almost all the companies outperformed bitcoin in the first two weeks of... -
Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange
The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency...