Pro
The Bear Necessities: 7 Trends and Theses Part 2
Key Insights
- Infrastructure trends aim to scale the available user base of crypto by increasing the capacity of the underlying blockchains.
- New Layer-1s, like Aptos and Sui, enhance the crypto user experience by offering internet-like transaction speeds.
- Modular architectures optimize individual blockchain components, increasing scale and value accrual at the application level.
- Ethereum plans to scale via rollups, which already have a head start in application development and user acquisition.
- Web3 Infrastructure provides critical services like file storage to growing verticals such as decentralized social.
Disheartened by the failed promise of narratives long ago told, bear market participants require distinctly new stories to guide them back to the boundless optimism of a bull market. Old stories carry a tinge of reminisced failure, but distinctly new narratives have the illustrative power to coerce overly soured market participants. Historically, the trends with this power have been wholly new application verticals or token distribution models.
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Dustin was previously the Enterprise research director at Messari. He has a broad focus across crypto with a particular interest in AI x Crypto, Consumer financialization, DeFi, and general infrastructure.
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