
The Milk Road Show Where to Invest in Crypto When 90% of Projects Are Uninvestable w/ Ryan Connor
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Jan 30, 2026 Ryan Connor, Head of Research at Blockworks who analyzes tokenomics and market structure, joins to map where crypto actually deserves capital. He discusses why most projects fail scrutiny. He outlines market maturation toward real business models, the rise of equity perps and who can win them, and new tokenomics trends and yield products shaping 2026.
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Macro Context Drives Crypto Returns
- Crypto's price moves must be viewed through macro lenses like AI-driven GDP growth and risk appetite.
- Ryan Connor says deregulation and TradFi flows make 2026 a constructive environment for crypto innovation.
Market Maturation Changes What Wins
- The marginal dollar into crypto is now sophisticated capital, so token mechanics that once worked no longer do.
- Connor argues the market rewards real business models and product-market fit over branding and stories.
Don't Buy The Whole Market
- Do not buy the whole market or equal-weight baskets; instead pick high-quality projects with real revenue and teams.
- Ryan Connor recommends focusing on projects built for the TradFi-oriented V2 era.
