/biz/ - Business & Finance

Total mcap went from 1t to 1.5t in 2 weeks, while BTC went from 65% to 59.9% dominance. Dipping below the 60% barrier is significant. Alt season has officially started.

We could very well see 3t mcap and BTC <40% dominance with LINK at 2% before the end of summer (consider the following possibilities: L2s triggered another massive DEFI craze, and allowing the launch of hundreds of new data feeds at greatly reduced costs including stonks; staking announcement, DECO implementation, big enterprise partnership or nodes, SmartCon hype, new whitepaper/R&D projects, new high profile COO/hires, BSN usage, etc remember that no crypto is better positioned to help legacy finance join the party).

A conservative estimate, that would put LINK at around $170. (6% MD at 6T by 2025 cycle: $1000)

A 50% increase in funny money is nothing. Look at total mcap chart between June 2017 (where we are right now) and December. Total mcap did more than a x10 in the 2017 run. And it was full of useless garbage like XRP at like 10% dom. Now we have functional DEFI and institutional FOMO:
>Jan 2017: 15b
>June 2017 (we are here; if you follow post-halving charts - though you have to account for Elon accelerating the timeline/the GME debacle/covid inflation etc & possibilities of frontrunning the top): 80b
>Jan 2018: 830b

For reference, ETH was around 200-300 in June 2017.

>2017:
>BTC ATH and Fall
>Staggered ETH ATH and fall (about 3 weeks after)
>BTC Market Dominance from 62% -> 32%
>ETH Market Dominance from 10% ->20%
>XRP MD 4% -> 15% (Jesus fucking Christ)
>BCH MD 2% -> 9%

For reference, LINK current MD: 0.94% at #9 (#5 a few weeks ago w/ LINK will easily reclaim when market cools off).