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Crypto Adoption, ‘BTC narratives’ and �BTCBTC’ narratives: This Week in Crypto

What’s in store for AVAX??

@avalabsofficial President @John1wu joined Raoul Pal @RaoulGMI to discuss crypto adoption, BTC narratives, the future of @avalancheavax,">@avalancheavax and more on last week’s on @RealVision crypto podcast

Read our notes to learn more 👇 🔺

What Moves the Crypto Market?

@RaoulGMI

•Macro environment

•Liquidity

•Network Adoption 1/

@avalancheavax Adoption

@John1wu

•In past year, AVAX daily transactions have grown to rival ETH daily transactions

•Team grown to 200+

•~1k dApps 2/

How to Deal w/ Crypto Volatility

•Prices have fallen, as expected

•Look where network adoption is occurring

•Have to prioritize features of network adoption that you value most

•Follow the leading protocols 3/

Thoughts on L1 Competition

•L1s similar to mid-90s search engine or early social media competition

•Competition often comes down to 3 main options

•Any adoption is good for everyone in crypto

•L1s should specialize 4/

What @avalancheavax Provides

•AVAX specializing in retail & institutional DeFi, & recently GameFi w/ the adoption of subnets

•AVAX acts as a layer 0 for subnet chains to be built on 5/

•Subnets allow devs to focus on their product rather than the blockchian

•Aiming to attract next wave of devs & users

•Working on providing dev tools & smooth UX for users 6/

How Big Brands are Adopting Crypto

@RaoulGMI

@punk6529 voiced the idea that airlines and hotels have a lot to gain from adopting crypto / NFT solutions 7/

•Established companies such as Ticket Master, Mastercard, preparing to adopt crypto as they don’t want to be left behind 8/

@John1wu

•Instant finality of crypto increases velocity of money

•Asset management funds w/ long term lockups will change their lockup periods slowly over time

•ICOs were attractive because they allowed users to buy assets before they went public 9/

Mainstream Crypto Adoption

•Real-world assets, financial assets, titles, are coming on-chain

•More convenient if everyone works off of the same blockchain database for all the assets

•Tokenization creates new expression of ownership and value 10/

Real Estate Adoption

•Real estate has much to gain from being tokenized. It becomes more liquid, convenient, and accessible, with less middlemen involved in the process

•The technology is not the issue, real estate being localized is 11/

•Real estate industry is reliant on debt & funding

•Traditional real estate industry is reluctant to adopt tokenization as they want to stick to their old ways

•Crypto cycles move very quickly 12/

Current State of DeFi & Effects of the Merge

@John1wu

•Stablecoins have been adopted, TVL hasn’t decreased

•Coinbase handles 15% of ETH trading volume: could potentially make 500m-600m in additional revenue by taking a fee from users staking ETH 13/

•More users will enter crypto because ETH yield beats treasury yield

•Blackrock created BTC partnership w/ coinbase after being opposed to crypto

•Individuals will enter crypto before the institutions they work for do 14/

@RaoulGMI

•Financial system is based on U.S. treasury flow

•ETH could potentially provide an alternative infrastructure for future financial system 15/

Thoughts on BTC

@RaoulGMI

•BTC seems like it's lost it’s narrative

•BTC has done a better job of holding value for people in countries with debasing currencies than gold

•Indians have benefited from holding gold instead of their country’s Rupee 16/

@John1wu

•BTC is a good SOV in other countries, just not the U.S.

•People don’t think BTC will have the most utility in crypto

•Too early to tell if BTC is a successful SOV 17/

Closing Thoughts

•Reed’s law: subnets compound network growth quicker than individuals can

•AVAX subnet pipeline in testnet 18/

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