I am finally back. Let’s talk crypto.
After a long hiatus, I am finally back, and this time, I am aiming to post bi-weekly (yes, twice a month, don’t come at me if I did not hehe, but I will try….).
For those new here, a little life update: I am currently interning at a crypto startup in the US. It’s been about four months now, and I have had some time to reflect. Figured it would be nice for me to jot down a few thoughts about crypto so far.
The good old question: Is crypto all a scam?
I thought it was and I know why you might think the same too. Yes, there has been a lot of noise.
From Silk Road days, money laundering headlines, to the TerraLuna implosion and FTX’s collapse… the space hasn’t exactly done itself favors.
So if you’re skeptical, I get it.
I was too.
Before diving into this space, I had real doubts about whether working in crypto would be good for my career and personal growth.
But now? Zero regrets.
So, what is real in crypto?
One word: Stablecoins.
Right now, I genuinely think that stablecoins is the most viable use case. The market is sitting with over $236 billion in supply, crazy no?
Stablecoins are already making a real-world impact. Countries like Argentina and Brazil for example – inflation is going crazy (Argentina inflation hits 211.41% in 2023 – let that sink in), people in South America are turning to stablecoins to preserve value. It is not a niche thing at this point, it is about survival.
On the ground
During my internship, I am fortunate enough to work very closely with a bunch of protocols, one of which is Hyperliquid who is gaining serious traction.
Hyperliquid is a decentralized perpetual futures exchange that operates on its own Layer 1 blockchain (HyperCore) to offer low-latency, high throughput trading. (this is me mansplaining).
To put it simply, Hyperliquid is a crypto trading platform where you can bet on the price of tokens going up or down. Currently their perpetual trading volume is around 13% compared to Binance’s 87% which is HUGE (mind you Binance is the biggest CEX with ~30% of perps market share). I can see that they are starting to nibble into the space dominated by giants of the centralized exchange – Binance, OKX and Bybit.
And honestly, working alongside insanely smart and driven people in this industry has been the highlight. It pushes me to go harder everyday.
So, what’s next?
Probably still figuring it out. But for now, I am learning a ton and just soaking it all in. I will try to keep these posts up, whether it is industry reflections, deep dives into a project/protocol or just thoughts from the week. 🙂
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