Counting the changes visible to the naked eye in the crypto industry (5/5)
Competition is extremely intensified
The intensified competition is manifested in two aspects. One is that there are a lot of new competitors, and the other is that the strength of new competitors is very strong. In 2023, when the on-chain derivatives and restake just showed signs, a large number of competitors swarmed in. This year, many situations that go against past experience have occurred: the track is getting bigger, but the share of early players with advantages is shrinking. This situation can be said to have occurred in every track at the same time, not just derivatives. The result of this change is: buying the boss and holding the boss, but the price may not necessarily rise smoothly and significantly, because the market share and imagination have not risen accordingly, and it is even possible that the status has become shaky under the pressure of some new competitors
This change in the industry is one cycle faster than I expected. I originally thought that it would not really come until this cycle is over, but I didn’t expect that we are already at this moment.
