the majority of whales is already partly out of the crypto market
in the old days, we had the true believers: people literally held 100% of their networth in btc or eth with only enough cash to cover living expenses. they truly believed in their bags and just wanted to stack more btc and eth
these times are definitely over today
i hardly meet someone who made it in crypto who hasn’t diversified part or even most their holdings out of crypto.
crypto is an asset that took so many of us from 0 to 1. but once you are at 1, you are just irresponsible if you are still 100% invested in an asset that already 100 - 1000xed. instead, most my friends either hold stocks, bought houses or did some private equity deals. not so much vc, i know few guys who made good money on early stage vc deals, most my friends got burned there
my message is this:
crypto was a large scale transfer of wealth
it took money from the pocket of unprofessional gamblers and retail and distributed it in the pockets of crypto founders, vcs, crypto infra companies like cexs, mms, etc and a few lucky investors/traders
and they all took the money and used it to upgrade their lifestyle, bought financial freedom and they do not plan to give it back to retail
at the end of the day, 0.01% of all crypto companied ever created have actual utility. it’s basically only tokenisation of real assets that have 24/7 crossborder liquidity via dexes and stablecoins. the rest is pretty much useless
but at least some of us got rich along the way
it might come back, it might not, i don’t know but i do know one thing:
there is so much opportunity out there and restricting yourself to crypto is not a good strategy