2023: The year of Liquid Staking Derivative Protocols?

Welcome back everybody. It’s been another exciting week in crypto and we’re pleased to bring you the next edition of The Blockchain Review. Happy New Year and I hope you’ve all had a great festive celebration whatever you’ve done. Now we can look forward to the year ahead and get back to the work that needs to be done for the crypto industry to continue making progress.

This time last year everything was bullish, it felt like everybody was on top of the world with excitement. Well that was the time to take profits. At the beginning of last year risk management and taking profits was a key part of a successful cycle.

2022 was then filled with a flurry of calamities and lots of bearishness following the collapse of flagship projects, services or exchanges. Diversification was therefore also a key part of surviving the contagion and collapse.

Sadly many of the newcomers who came during the bullishness have now disappeared because they failed to take profits and depending on when they joined through the bull market could even be underwater. Or there are those who got caught in the collapse of a CeFi or CEX who are writing off the rest of crypto as a scam. 

At this point in the cycle it’s the opposite to one year ago. With the negative feeling and amount of people who’ve lost interest then it’s similar to previous bear markets when people lost in the Mt Gox collapse or failed ICO projects. The mainstream media and herd mentality went through a period of thinking it was all over. 

People who were new or weren’t deeply involved in the space don’t necessarily understand the technology and sometimes just give up in all the emotion. But now’s the time for them to zoom out and realize what’s happening. Anybody who thinks the bear market will continue forever isn’t seeing the bigger picture.

Those who fail to see the bigger picture because they’re too caught in any losses of the previous cycle will then inevitably miss the point of maximum opportunity in the upcoming cycle! 

The genie is out of the bottle with the decentralized revolution. More people crave freedom and independence, more people work online and have the ability to manage themselves. Financial independence and financial autonomy is a big part of the revolution and cryptocurrency is a key cog in the machine of making all this possible. But it’s not the only part.

There’s a trend in decentralization across lots of different industries that aren’t directly related to currency and Web 3.0 is enhancing lots of these trends. Before individuals could sell their digital art through social media. Now there’s decentralized and provable NFT art. Before there was independent journalism. Now there’s uncensorable independent journalism. Before there was p2p gaming. Now there’s the open and ownable metaverse.

Web3 is so much more than just yams, yield, or yolo pumps. It’s a growing part of society.

We’ve got to do our best to get the people who lost interest back once they understand the true potential of decentralization and Web3. Those lessons of the past will then form their wisdom of their future!

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