The Breakdown

Bell Curve: Beyond the Hype: Crypto’s Next Phase | Roundup

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Apr 18, 2025
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INSIGHT

Nuanced Crypto Market Phase

  • The crypto market currently lacks a clear bull or bear state, existing in a nuanced middle phase.
  • Stablecoins, lending markets, and Bitcoin remain central to understanding present trends.
ADVICE

Founders: Secure Runway and Focus

  • Founders should maintain at least 24 months of runway and control costs to survive the cycle.
  • Focus on building products with clear monetization strategies rather than reckless spending.
INSIGHT

Crypto's Capital Efficiency Appeal

  • Crypto protocols often show far higher capital efficiency than traditional tech companies.
  • This efficiency attracts allocators and requires proving sustainability and user monetization.
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