ZEC and NEAR Are Eating the Blue Chips' Bid
BTC:ETH::ZEC:NEAR! How Zcash and NEAR are drawing capital away from Bitcoin and Ethereum.
"How the fuck is ZEC pumping so much?"
"Where is this infinite bid coming from?"
"How does an asset go from $200M to $26B without being manipulated?"
Every once in a while in crypto, a single asset wins the "Bitcoin Bid" trophy.
Bitcoiners famously hold their BTC close to their chest. The strength of the Bitcoin community and its narratives have created an extremely strong Schelling point around "BTC and BTC only," and it’s worked. The effect is currently measured at $1.7T.
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David Hoffman
Co-owner at Bankless. Optimistic storyteller of frontier technology.
