A lot to go still.
Random analogy I just thought of when it comes to building blockchain projects. A lot of people have a favorite sport, but most only care about the season/playoff games and finales. So building in the space reminds me of the following cycle. I’ll use basketball as an example cause why not? :
- Basketball practice between pros.
- No one really watches these except those trying to learn about it or improve, just like building out a blockchain.
- Pre-season starts.
- People are aware of it, but only the core fans really follow it, just like when crypto prices start to slowly rise.
- Many people are aware of it, and want to get into it. The ones who practiced the hardest before the season climb the ladder, while others drop off until their chance next year. The projects that practiced (built) smartly/efficiently in bear markets move higher than the rest.
- People are hyped, go out and buy things in mass to support their teams, and everyone on social media is talking about it. Kind of like when crypto prices are mooning and people start following the bandwagon. It all ends, and some of those people weren’t really fans, but more fans than before are hanging on because they’ve gained a lot of interest in professional basketball.
- Start at 1.
When I look at this chart, this is kind of what I imagine in my head. When the next bull season starts (whenever that may be), the partnerships and developments will prove a project’s worth until they stabilize with more projects rising one after another. Some projects may fall off temporarily, but they’ll come back up and rise, just like a team that hasn’t won a championship in a few years time. Just thinking out loud …
We’ll see it come back around again. New players are infinite!