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RE: Why The News In Crypto Looks Familiar
25
@mercadomaestro
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1 min read
I saw it coming too. Back in mid-2017 when I entered the crypto space, I was given 1000 XRP as a gift from a friend. At the time, Bitcoin was the #1 (as it is now) and Ethereum was close behind. Solana didn't exist, Polygon, Polkadot, Terra, none of these existed.
VCs ruined everything. They threw so much money at Ethereum that they pushed gas fees into the triple-digits. In effect, they broke Ethereum, for a time. Obviously it's working now, but, the main Layer-1 chain is slow, expensive, and inefficient to use.
Seeing Wall St pour into DeFi like Aave, MakerDAO, Tornado Cash, Compound. I saw rampant, runaway speculation, I saw low-utilization rates of lending tokens.
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