Crypto's lack of 'frothy use case' a good sign: WisdomTree exec
Jason Guthrie, head of product at WisdomTree, expresses optimism about the crypto market despite a lack of typical hype seen in previous bull runs. There are no standout use cases like ICOs, NFTs, or DeFi lending driving the current cycle. The asset class continues to gain value, with companies built on this technology growing revenue and client bases. The ICO boom peaked in 2018 at $33.4 billion but has since declined significantly. NFT trading volumes peaked at $57.2 billion in 2022 but have cooled. The overall crypto market capitalization reached an all-time high of $3.71 trillion in December. Companies and countries are increasingly adopting crypto for reserves, indicating market maturity. While memecoin activity surged briefly, interest waned due to poor launches. Guthrie believes the market is more sustainable and still has significant innovation potential.
