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0xkyle__
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everytime im happy alts go up, some random onchain coin will 5x and make me question why im even in alts
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0xkyle__
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btc farted and alts jumped off a cliff again huh
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market in a weird spot where > people are tired of memes > want something more legit > but still want number go up > new metas are unsustainable bc they quickly reach "overvalued", but they have nothing to show -> reverts back to mean solution: > lots of existing protocols that show growth, who are now at undervalued prices - eg mpl, frax, pendle, etc. > lots of new protocols that havent experienced the cycle high to the overvalued stage, who have been quietly building and can quickly re-rate higher - eg initia as an example of something re-rated im a fan of bidding such alts rather than onchain overvalued tokens, onchain is cool but it re-rates too quickly & gets diluted in hours; people are tired of getting diluted now -> go back to cexes who have stricter requirements but coins that are cheap (sub 150m)
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the sinplest solution to any bad vibes in a token whatever the cause is to just stay away from the coin if its spiritually broken, the runway to 0 will happen that much faster- no one can hold belief in it, there are no whale buyers, no one wants to hold the damn thing
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still waiting for the inevitable capitulation to binance coins as onchain vamps itself lots of sub 200m projects doing great things believe that the market is past the stage of "initial hype, but no product" and is yearning for real products that have built, & grows more
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why did i wake up to the entire ICM meta being down 50%
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