The term “Crypto Fundamentals” is an oxymoron. The two words don’t belong in the same sentence.
Ethereum network fees are north of $50. Some NFT projects on ETH have suspended operations due to high fees. BTC, the market cap leader in the space, is capped at transmitting 1MB of data globally every 10 minutes. DOGE is #10 by market cap.
Do these “leaders” seem like the future…of anything?
This month SHIB, a meme coin based on a meme coin, rose 10x in 24 days.
So, how much longer do you expect this circus to go?
Top to bottom “Crypto” is a joke. The largest exchange Coinbase is shilling hype trains like SHIB. Why? Because more trades make Coinbase more money. This is all a game of musical chairs.
When Coinbase went public in April they shared this information:
In the documents the company released in February for its public debut, Coinbase said Satoshi Nakamoto — the pseudonym used by the individual or group of people who developed bitcoin — could cause significant damage to the company.
If the identity of the creator was revealed, it could cause bitcoin prices to deteriorate, according to the filing.
Coinbase, and nearly every coin and project in Crypto, do not want Satoshi to come forward. A living, breathing Satoshi could easily sway markets away from the scams that Coinbase and others rely on to generate revenue.
I’ll close this post with a quote from Fundamentals Matter:
I’ve met old shitcoiners and I’ve met rich shitcoiners but I haven’t met any old and rich shitcoiners.
Personally, I’m cravin’ the return of sanity to the markets.