Crypto's Active Uses Limited To Bitcoin Hodling And Meme Coin Gambling, Trader Questions Real World Utility
Portfolio Pulse from Khyathi Dalal
Capriole Fund founder Charles Edwards expressed skepticism about the practical uses of cryptocurrencies in 2024, highlighting Bitcoin hodling and meme coin gambling as the only active use cases. He criticized the current state of DeFi, NFTs, and other crypto applications, suggesting that Bitcoin, stablecoins, and futures arbitrage are the only high-value products.
July 05, 2024 | 2:58 pm
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NEGATIVE IMPACT
Charles Edwards expressed skepticism about the practical uses of Ethereum in 2024, suggesting that DeFi and other applications are 'dead.'
Edwards' negative outlook on Ethereum's practical uses could lead to a short-term decline in its price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Charles Edwards questioned the real-world application of Solana in 2024, suggesting that various crypto applications are 'dead.'
Edwards' skepticism about Solana's real-world application could negatively impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Charles Edwards of Capriole Fund sees Bitcoin hodling as one of the only active use cases in 2024, suggesting a focus on Bitcoin as a high-value product.
Edwards' comments emphasize Bitcoin's continued relevance and potential as a high-value product, which could positively impact its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100