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2017 Vs. 2020: Comparison of crypto cycles.
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(thread)
1. Development.
2017: Focus on currency tokens.
2020: Focus on DeFi + Web 3.0.
2017: Focus on currency tokens.
2020: Focus on DeFi + Web 3.0.
2. Fundamentals.
2017: Tokens backed by speculation.
2020: Tokens backed by utility, cashflows, and network effects.
2017: Tokens backed by speculation.
2020: Tokens backed by utility, cashflows, and network effects.
3. Stakeholders.
2017: Predominantly retail.
2020: Retail, VCs, hedge funds, institutions, company reserves, governments.
2017: Predominantly retail.
2020: Retail, VCs, hedge funds, institutions, company reserves, governments.
4. Fundraising.
2017: With a whitepaper or idea.
2020: With an implementation or prototype.
2017: With a whitepaper or idea.
2020: With an implementation or prototype.
5. People.
2017: Predominantly speculators.
2020: Speculators + builders.
2017: Predominantly speculators.
2020: Speculators + builders.
6. Access.
2017: Steep learning curve, on-ramping within limited jurisdictions.
2020: Focus on UX, on-ramping in almost every country.
2017: Steep learning curve, on-ramping within limited jurisdictions.
2020: Focus on UX, on-ramping in almost every country.
7. Media narrative.
2017: “Crypto is a scam”.
2020: “Crypto is being adopted by every major government”.
2017: “Crypto is a scam”.
2020: “Crypto is being adopted by every major government”.
8. Regulation.
2017: Mostly TBD or Illegal.
2020: Legalised in a dozen countries, TBD in many, Illegal in a few.
2017: Mostly TBD or Illegal.
2020: Legalised in a dozen countries, TBD in many, Illegal in a few.
9. Volumes (ETH).
2017: Peak $6 Billion/day.
2020: Peak $24 Billion/day.
2017: Peak $6 Billion/day.
2020: Peak $24 Billion/day.
10. Total Market Cap.
2017: $800 Billion.
2020: $370 Billion.
2017: $800 Billion.
2020: $370 Billion.
