Every few years in crypto, we’ve come to expect the legendary “altcoin season”, those moments when random tokens melt faces with ridiculous, disorderly rallies.
But those days are over. And the sooner you accept that, the sooner you can actually start making money.
In the early days, crypto was tiny. A few million dollars could send coins vertical. Then 2020 arrived: the world shut down, stimulus flooded wallets, and everyone suddenly had both the time and the cash to gamble. On top of that, we didn’t yet have the breadth of platforms and speculation pipelines we have today.
Now everything is different.
We have prediction markets. Sports betting. Hundreds of hyper-speculative stocks on Robinhood. And far more cryptocurrencies than any retail trader could ever keep up with.
The result? Liquidity is spread everywhere. Attention is fragmented. And the once-violent, ecosystem-wide moonshots simply don’t happen like they used to.
Surprisingly, that’s a good thing.
Those old periods, as fun as they were, always ended in a brutal hangover. The entire market spent all of 2022 detoxing from the excess.
Today’s environment is forcing investors to grow up. You can’t just throw darts anymore. Most crypto assets are still garbage. But the 1% actually solving real problems? They’re finally getting rewarded.
Right now I’m deep into research on a new cryptocurrency powering over $1.5 trillion in monthly overnight repo flows with built in partnership with a publicly listed financial institution. They’ve created a new coding language, spent a decade building institutional infrastructure, and have now released a token to facilitate payments on their network.
That’s the pond I’m fishing in.
As for the other 99%, memecoins, speculative debris, and “technologies” with no users, I don’t believe they’re ever coming back in any meaningful way. Sure, they’ll have isolated spikes. But outside of that, most are already on their long bleed toward zero.
What remains is a small group of real builders ready to bring finance and technology on-chain. And that’s where the next decade of opportunity lives.
From where the sun rises first,
Louis Sykes
Senior Crypto Analyst, All Star Charts
