This Is Rock Bottom for New Crypto Projects

TL;DR

• The rate of new crypto projects being created (excluding meme coins) has hit a three year low.

• Why? Because despite the market’s latest price pump - there’s still not enough money floating around the space to justify a wave of launches.

• The good news is: it’s only up from here…?

Full Story

“The night is darkest before the dawn” - Harvey Dent (The Dark Knight 2008)

“I had to hit rock bottom before I realized my Beanie Baby addiction was affecting my marriage” - Chevy’s aunt Ellis (a dark period in 1998).

The essence of both those statements?

Things have gotta get bad, before they get good.

What does Chevy’s aunt’s Beanie Baby addiction have to do with crypto?

Well, just like Ellis in ‘98, new crypto projects have recently hit rock bottom.

Specifically, the rate of new crypto projects being created (excluding meme coins) has hit a three year low.

Why? Because despite the market’s latest price pump - there’s still not enough money floating around the space to justify a wave of launches.

New projects only have one shot at making a debut, and a solid entrance into the space can attract all sorts of developer talent and investment.

Unfortunately, the market as a whole isn't quite there yet.

The good news is: we're probably at rock bottom right about now.

(Hooray?)