Web3 blockchain ultimately did not escape the 80/20 rule. Chaebols, politics, capital elites, Wall Street, etc., dominate the entire crypto market. So we can see that embracing elites has become the biggest trend this round!
Naver, the largest internet company in South Korea, is equivalent to Baidu + Tencent + Alibaba! Now venturing into the crypto space, it has completely monopolized the South Korean market.
I remember when Apple was procuring touch screens mainly from South Korea's Samsung and Japan's JDI. The email sent to me by Samsung's business representative used the suffix @naver.com, not Sumsung; I was also very curious, and later learned how powerful Naver is, just like Japan's Itochu in the trading field, although Itochu operates in commerce, it cannot be denied that they are both very strong.
If 2021 was the bull market of funds, then 2025 is definitely the bull market of policies. Starting from Trump’s crypto initiatives and pro-crypto policies, everything has changed. In the past, apart from pioneering VCs, the traditional investment field did not look highly upon the crypto circle.
And now traditional finance is gradually swallowing the crypto market, ultimately turning it into another asset class.
Actually, Rakuten acquired a crypto exchange as early as 2018, and SBI Holdings operates one of Japan's largest crypto platforms, but the Japanese financial conglomerates are relatively stable and not very aggressive.
As the government’s attitude towards the crypto industry gradually becomes friendly, major Wall Street institutions are beginning to shift. Major institutions, including BlackRock, have launched Bitcoin ETFs, Fidelity provides crypto custody, Goldman Sachs has started crypto trading... and there’s also the recently popular DAT treasury organization, etc.
Coinbase, although still relatively independent, has an increasing proportion of institutional business, and retail investors are increasingly not the main players in trading.
This cycle is coming to an end by the end of 2025! It’s almost the end of the bull market. I blinked my bloodshot eyes, awakened by dreams every day, but now I feel confused. As an old hand who has experienced 2/3 cycles, the bull market is about to end, yet I feel it is coming, but it seems like it hasn’t come yet~
The most attractive aspect of blockchain web3 is decentralization, the transformation of asset issuance methods, and the new asset issuance methods and trading models it creates. For example, the rise of pump.fun, the rise of dex, and the rise of hype. These are all very attractive aspects, but in this cycle, from the brief bear market in 2022 to the inscription craze in 2023, then to the meme rise above sol. Then there’s Trump issuing coins. The crazy policies and emotional bull market of 2024 are vivid in memory, but it seems like something is missing?
It cannot be said that blockchain has nothing to do with ordinary people. Can it only be said that Bitcoin has nothing to do with ordinary people in the future?
If retail investors embrace the elite, and exchanges and institutions embrace compliance and financial conglomerates become the ultimate direction of blockchain, where do you think the next hot spot will be?
Will the 4-year cycle continue? #Web3 #naver #币安HODLer空投XPL #美SEC和CFTC加密监管合作 #币安HODLer空投HEMI $BTC $BNB