We are looking forward to bringing you exciting news about our offering within a week or two. Until then, I will share a few updates on my macro-based views on the crypto space and how I invest my own money in the space.

First, the Donald. Then, Melania. And now, Portnoy. The spiking meme-coin frenzy has haunted this cycle so far, and Dave Portnoy’s absurd jail-coin is a symptom of an altcoin season that has struggled to get off to the races. Can we call the altcoin season over before it even began? Or are we still early in the cycle? We still see the better arguments for the latter.

The Trump train led to a spike in open interest and retail activity in Bitcoin, but also in coins further out on the risk curve, such as Doge, due to the obvious link to the Trump administration. However, retail interest in this crypto cycle has been very underwhelming since New Year’s—especially after a series of scandalous meme launches such as $TRUMP, $JAILSTOOL, and the like.

The “gung ho” / “wild west” environment post-election has so far proven to be NEGATIVE for the space—probably the opposite of what Trump and his ilk intended. On the other hand, it’s outright impressive to see BTC holding up close to 100K despite a complete lack of retail interest, which goes to show that this cycle is not yet mature by any means.

Chart 1: Bitcoin & Crypto interest is fading currently