June 9th 2024
Crypto markets are testing all time highs, yet things seem suspiciously quiet in the cryptoverse… Unless of course you’re on Solana gambling on memecoins. Memecoin degens think the bull market is in full swing!
They’re just impatient. This is all part of The Cycle.
Two things happened during the previous cycle (Boom3) to cause this: things got complicated & everyone got burned.
Complicated: Ethereum migrated to proof of stake and fractured into L2’s (Layer Two) like Base, Arbitrum & Optimism while DeFi strategies got so sophisticated no one understood them anymore.
Burned: Meanwhile DeFi hacks, scams and lockups bled us try and NFT “investors” lost ~90%.
So while Bitcoin hasn’t broken out yet and nothing new is happening on Ethereum… Fuck it. Let’s gamble on politics and frog coins on the fastest cheapest chain we can find.
Things will unfortunately get complicated again. But not until everyone’s up 10X and thinks they’re a genius.
Those of us who learned our lesson last cycle are just waiting on the sidelines for a Bitcoin breakout and new crypto narratives to take shape. Memecoin mania was one of them. But I’ll sit this one out.
To the moon 🚀 — @GΞR฿Z Founder & Creator @ BitLift
Crypto Podcast Snips
I listen to a ton of crypto podcasts and started bookmarking important moments using Snipd to share with you guys on Instagram, TikTok and YouTube.
Joe Rogan: “I Hate Gold”
Mark Moss: “Why would you sell your BTC for $? ”
Dan Tapiero on “How to Build Wealth?”
Keep Up With Crypto
What I’m reading, watching, sharing and keeping an eye on in crypto recently.