Messari's Unqualified Opinions

The First Real Internet Capital Market? | Fully Diluted with Messari Research

Jun 4, 2025
Dive into the world of tokenized equities and their potential to boost onchain adoption. Explore Bitcoin's scalability innovations and the recent excitement from Bitcoin Vegas. Discover how platforms like Dripster combine AI and capital markets to drive product development. Unpack the future of real-world assets on Solana and discuss the transparency versus privacy debate tied to trading practices. Witness Helium's explosive growth in mobile networking and its strategies for emerging in the Web3 landscape.
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INSIGHT

Market Matures Favoring Quality

  • The crypto market is settling with clear asset selection importance, favoring quality projects like Hype.
  • Speculative internet capital markets narratives underperformed, reflecting a more discerning investor base.
INSIGHT

Transparency Benefits Most Traders

  • Transparency in on-chain perpetuals like Hyperliquid benefits most traders by improving execution.
  • Privacy may be important only for large or insider trades, which are currently a small percentage of volume.
INSIGHT

Bitcoin Programmability Challenges

  • Bitcoin programmability currently involves trade-offs due to lack of covenants, needing trust assumptions.
  • OpCat and BitVM are promising for trustless innovations but require community consensus and protocol upgrades.
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