The k-shaped crypto recovery thesis articulated by @cobie "You have to detach that memecoins aren't going up or governance tokens aren't going up. It feels depressing because you can't get exposure to things that are good. Even I can't get exposure to the things that are good. But there's a societal bull case for crypto enabling alot of stuff. And if crypto does enable alot of this stuff as more & more capital comes on chain. It's inevitable that we have another season of euphoria and fun... The more capital that comes onchain, the more & more inevitable that appears to be."(Luke Martin)