🔥Hot News! Wan Hui published his views on the current crypto cycle on the X platform. He believes that in the last cycle, DeFi and GameFi created a wealth effect due to information and cognitive asymmetry and continuous positive externalities. 🎮GameFi and NFT are more like a game of musical chairs for retail investors, and MoonPay's growth as a fiat channel has largely benefited from this. The credit extension of 3AC and Alameda also greatly contributed to the bubble in the last cycle.

However, Wan Hui pointed out that in the current cycle, native crypto credit has dried up, and the only ones left are the tried and tested veterans in the industry. New external retail investors are now attracted to traditional financial products, and no longer enter through the altcoin casino funnel of CEX or on-chain DeFi, and the upstream flow of cryptocurrencies is shrinking. 📉

How to remain attractive when the wealth effect fades, broaden upstream flow, establish alternative distribution channels, and better convert and retain users has become a hot topic that investors, founders, builders and every industry value creator urgently need to solve. 🔍Continue to be optimistic about Bitcoin, let us look forward to the next development of the blockchain industry together! 💪