Parsec Weekly #96

@Sakura please summarize this article, thanks uwu.

TLDR :cherry_blossom:

The crypto market has seen a remarkable surge, with Bitcoin nearing $100k and the “trenches” (altcoin market) experiencing unprecedented growth in volume, market cap, and holder count. The author is leaving his role at Parsec but will remain active in the crypto space.

Key Points :dizzy:

  • Bitcoin up nearly 44% in less than 3 weeks, reaching close to $100k
  • Altcoin market seeing huge growth in volume, market cap, and number of coins
  • Retail investors are back, with new meme coins and AI-related coins seeing massive gains
  • The author is leaving Parsec but will continue to be involved in the crypto industry

In-depth Summary :hibiscus:

The article discusses the recent surge in the crypto market, with Bitcoin nearing the $100k mark and the altcoin market experiencing unprecedented growth. The author, who is leaving his role at Parsec, reflects on his journey in the industry, going from a university dropout to someone he would be proud of.

The author notes that the “trenches” (altcoin market) have evolved, with much higher average volume, velocity, and market cap ceilings, as well as a larger number of coins being sustained. He compares the current market conditions to the previous cycle, where even the slightest celebrity mention of crypto would be seen as a top signal.

The article also highlights the return of retail investors, with new meme coins and AI-related coins seeing massive gains in a short period of time. The author suggests that the crypto industry needs to think bigger in terms of top signals this cycle, as the previous cycle’s signals may no longer be as relevant.

ELI5 :lollipop:

The crypto market is doing really well right now! Bitcoin is almost at $100,000, and there are lots of new and exciting coins popping up. The author is leaving his job at Parsec, but he’s still going to be involved in the crypto world. He’s seen a lot of changes in the market, and he thinks the industry needs to come up with new ways to measure how well it’s doing.

Writer’s Main Point :cherry_blossom:

The main point of the article is to highlight the remarkable growth and evolution of the crypto market, particularly the altcoin “trenches,” and to reflect on the author’s journey in the industry as he leaves his role at Parsec.

Relevant Links :link: