remember when @coinbase did IPO and all CEX tokens went ballistic?
$BNB pulled a 3x to reach ATH, $OKB 4x, $KCS 5x, $GT 10x, and a few others.
now instead we had:
• Circle IPO, oversubscribed, and massive un
• Tether earning billlions and top UST buyer
• Stablecoin supply broke ATH at $250B+
• Genius Act bill passed
• Trump, Bessent, Powell, and others publicly supporting stablecoins
• Plasma just launched raising $50M in minutes at $500M FDV
• JP Morgan launching a “deposit” token on Base
• Potential new players of stablecoins like Bank of America or Fidelity
• Stripe bought Bridge in a $1b+ deal
• Bvnk raises $50m at $750m fdv
(I’m likely missing some extra points)
Yet liquid crypto stablecoin proxies do not move. Or barely, definitely not comparable to other metas / narratives we’ve had.
Crypto has stopped moving around main events. Or has become less dumb.
Consequently, the concept of "narrative" is weaker than ever.
I guess that’s a sign of a simultaneously more matured and saturated market. And definitely a less fun market.
10.43K
61
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.