The $46 trillion in stablecoin transactions really puts things in prespective. We're beyond the expermient phase now and into genuine infrastructure competition with traditional payments. What really jumps out is the difference between crypto's adjusted volume versus reported volume. That 5:1 ratio shows how much more mature the metrics are becoming when we strip out the noise. The stat about 20% of spot trading happening on DEXs is wild considering where that was just three years ago. I think the privacy discussion you raised in the podcast is going to become central as more institutional capital comes onchain. Right now everyone is excited about transparency and compliance, but the second real enterprise data hits public blockchains the demand for confidential compute is going to exploade. Overall this is probably the most balanced State of Crypto report yet because it acknowledges real progress without getting euphoric about it.
And yet it is still so vulnerable to power cuts and internet interference. Still wouldn't touch it as it relies totally on trust in moving ever upwards and so many grifters have leapt in as speculators.
I grew up in Aspen during the 70s-80s. The influential parents of my time there ranged from John Denver to Hunter S. Thompson. Trying to find ways to inspire influencers of today by some of the originals…before the computer.
The $46 trillion in stablecoin transactions really puts things in prespective. We're beyond the expermient phase now and into genuine infrastructure competition with traditional payments. What really jumps out is the difference between crypto's adjusted volume versus reported volume. That 5:1 ratio shows how much more mature the metrics are becoming when we strip out the noise. The stat about 20% of spot trading happening on DEXs is wild considering where that was just three years ago. I think the privacy discussion you raised in the podcast is going to become central as more institutional capital comes onchain. Right now everyone is excited about transparency and compliance, but the second real enterprise data hits public blockchains the demand for confidential compute is going to exploade. Overall this is probably the most balanced State of Crypto report yet because it acknowledges real progress without getting euphoric about it.
The crypto start
Stuff
Very insightful! What are you perspectives about Gold backed stablecoins?
Insightful report.
Last year’s key takeaway for me was how USD backed stablecoins became a quiet support line for U.S. national debt.
Now we’re seeing major governments openly recognize it as leverage the White House can use.
The market is still small, but it won’t stay that way.
Keep highlighting this thread. National economies entering digital assets, not just private players. The governmental layer deserves more light.
Thanks for this very insightful! We used it in our ethereum fundamental update
And yet it is still so vulnerable to power cuts and internet interference. Still wouldn't touch it as it relies totally on trust in moving ever upwards and so many grifters have leapt in as speculators.
I grew up in Aspen during the 70s-80s. The influential parents of my time there ranged from John Denver to Hunter S. Thompson. Trying to find ways to inspire influencers of today by some of the originals…before the computer.
https://open.substack.com/pub/growingupaspen/p/technology-that-protects-people-not?r=2g93c&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false