The Meta Got Too Smart: Now What? | Fully Diluted with Messari Research | Unqualified Opinions

Ask Messari Copilot "Which protocols have shown the strongest fundamentals this cycle despite underperforming in price?"

https://messari.io/copilot/share/evaluating-protocol-fundamentals-9ada2e1c-b1e5-4cd7-be67-dc24f483a0dc

In this episode, the Messari Enterprise team sits down for a candid conversation on where we are in the crypto market cycle—and where we might be headed.

We dive into:

🧠 How the market became too self-aware and what that means for future participation

📉 Why ETH and altcoins are underperforming—even with a strong BTC ETF backdrop

🏦 The real role of Bitcoin: risk-on asset or digital gold?

🧪 Narrative fatigue, ETF skepticism, and the memecoin-to-perps trading migration

🚀 What we're still bullish on: DPIN, Hyperliquid, product-led chains, and the long arc of self-custodyFrom macro outlooks and market structure to the memes that move markets, this is one of our most wide-ranging (and honest) conversations yet.

The Fully Diluted Podcast with Messari Research brings you insightful, no-hype takes on what actually drives value in crypto. Subscribe to get weekly episodes with the best builders and researchers in crypto.

00:00 Intros

01:12 Crypto Market Narratives & Trends

10:55 Bitcoin & Ethereum Investment

22:16 Blockchain & Infrastructure

30:55 AI & Crypto Integration

36:07 DeFi, Liquidity & Trading Strategies

46:26 Future Predictions & Closing Thoughts

Hosted by Dylan Bane of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

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Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.