April Roundup: Is it over? EigenLayer, SocialFi Summer, and Outflows | EP 48

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May 3, 2024

Crypto market trends, EigenLayer FUD, meme coins impact, crypto music evolution, tokenizing narratives, layer twos challenges, consumer projects growth, clash between token farmers and protocols, EigenLayer security importance, controversies in the crypto industry

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INSIGHT

Crypto Market Correction Explained

The current crypto market correction is typical and partly due to the stop in ETF inflows and lack of new narratives.
Market momentum will likely consolidate for months, driven by global liquidity and macro factors like elections.

INSIGHT

RWAs and Stablecoins Gain Legitimacy

BlackRock's on-chain fund hitting $375M legitimizes RWAs (Real-World Assets) in crypto.
Stripe adopting stablecoin payments signals that non-speculative uses of crypto are becoming mainstream.

INSIGHT

Meme Coin Cycle Mirrors DeFi Summer

Speculative waves like DeFi Summer and Meme coin surges cycle through with similar patterns.
Current market resembles end of DeFi Summer with correction and Bitcoin price behavior mirroring past cycles.

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Imran and Qiao sat down for this April Roundup to talk about the current state of the crypto market, EigenLayer, SocialFi Summer, Outflows, and more.
No BS crypto insights for founders.

Timestamps

(00:00) Intro
(00:08) Live Fantasy Pack Opening
(02:41) Introducing MVP (Minimum Viable Product)
(04:44) Welcome to Good Game
(04:47) Is it Over?
(06:12) Why it's Over
(07:21) How Do We Think The Market Is Going to Playout
(10:01) BlackRock's On-Chain Fund Hits $375M
(13:40) "People Don't Care About The Non-Speculative Stuff"
(15:05) Qiao's Analogy Between Bitcoin ETF and RWAs
(17:13) "Everyone on Twitter is Saying We're Halfway Through The Market"
(18:58) Crypto Assets Qiao is Most Excited About
(21:59) The Future of Memecoins
(22:16) The Number of Memecoins Created on Pump
(23:51) The Whistleblower
(28:11) Crypto Music
(32:52) Crypto Startup Stories: Crate
(35:36) We Should Change The "Memecoin" Terminology
(38:47) "Everything is Going to Be Tokenized"
(40:05) Solana Congestion Has Gone Away
(40:46) Firedance Coming Out Soon
(41:17) Monad, Berachain, and TON
(43:23) MegaETH
(46:44) What is The Right Fee Structure?
(48:17) Qiao Shares an Important Lesson From a Book (Chip War)
(51:54) TON
(54:41) "Stickers are The New Whitepapers"
(56:39) The Polymarket "Retardio" Incident
(59:08) Web2 Sports Betting Websites are Losing Market Share to Memecoins
(01:01:13) Kyle Samani's Tweet About Memecoins
(01:03:00) EigenLayer FUD
(01:12:46) Fantasy Launched on Mainnet
(01:15:38) Qiao's Current Mental Model for Selecting Founders
(01:16:48) Live Fantasy Pack Opening

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DISCLAIMER: The views expressed herein are personal to the speaker(s) and do not necessarily reflect the views of any other person or entity. Discussions and answers to questions are intended as generalized, non-personalized information. Nothing herein should be construed or relied upon as investment, legal, tax, or other advice.