Crypto has fragmented into four distinct industries, each operating on separate fundamentals, regulatory paths and adoption curves. Stablecoins and payments act as digital dollar infrastructure, Bitcoin trades as an institutional macro asset, tokenisation builds financial market plumbing, and blockchain infrastructure scales independently.
https://cryptoslate.com/crypto-is-no-longer-a-single-industry-and-that-may-be-bullish/ #Web3 #Blockchain #EmergingNarratives