Matt Levine wrote two articles in a row, diving deep into the bubble phase.
What stage is the crypto market at now?
In short, Matt Levine just wrote about it.
The last time he wrote about crypto was just a few days after Goat came out, and then the crypto AI season kicked off.
Before that, it was the SBF box theory, and the bubble lasted for a month or two? A year later, FTX collapsed.
I would call it the Matt Levine indicator, meaning all eyes are on crypto, not just us degens who are daily caught up in alpha and dumped on by new coins lol.
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