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Is the “Fat Protocol Thesis” – the long-held belief that blockchain infrastructure is more valuable than applications – finally dead? Arthur Cheong, CEO of DeFiance Capital, thinks so. He argues the once-popular investment principle has led to overvalued infrastructure projects and relatively undervalued applications that has stifled crypto investment beyond Bitcoin . The Fat Protocol Thesis claimed the primary value of blockchain technology lies in the underlying protocols, not the applications built on top. Cheong points out that successful applications today are reasonably valued at 5x to 15x price-to-revenue ratios, while blockchain infrastructure projects – many of which have seen minimal growth in recent years – boast massively inflated valuations, anywhere from 150x to 1000x price-to-revenue. “The speculative premium that once fueled the crypto infrastructure boom, he suggests, has finally collapsed,” he wrote on X. In other words, the market is waking up, and valuations are starting to make sense. Related: BLUR Token Holders Cry Foul as Price Tanks Despite Ecosystem Growth In 2021, Cheong himself supported the Fat Protocol Thesis, believing it was the dominant investment strategy. However, as the market matures, he now emphasizes real-world adoption. He points to once-hyped Layer 1 tokens like ADA, SOL, DOT, and AVAX. While they once had valuations exceeding $10 billion, many have struggled to sustain long-term growth. Back then, most of these projects raised funds at valuations below $100 million, making them attractive early bets for investors. But those days are likely gone. The “Fat Protocol Thesis” may have served its purpose in the early crypto days, but the market is rapidly evolving. Real value, Cheong argues, comes from actual utility, not just infrastructure promises. Applications that actually get used will naturally command higher multiples – that’s just how markets should work. This shift signals a major turning point in how crypto investments are structured. Related: Ledger Exposes Potential Security Flaw in Trezor Wallets Arthur’s comments reflect a growing sentiment in the market: investors are increasingly focused on utility and adoption rather than infrastructure hype. And for investors, this means a potential shift in where the real value lies. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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🔴$MINT ’s Technological Foundation and Vision $MINT is built on Ethereum’s OP Stack, a modular framework that enhances blockchain scalability and transaction efficiency. The OP Stack is the backbone of Optimism, a popular Layer 2 scaling solution that reduces gas fees and increases transaction speeds compared to the Ethereum mainnet. $MINT’s primary goal is to revolutionize NFT transactions by offering a scalable, cost-effective, and user-friendly ecosystem. By leveraging rollups (bundling multiple transactions into one to lower costs), $MINT aims to attract developers, NFT creators, and traders who seek an optimized experience without the high gas fees of Ethereum. 🎯Market Sentiment: Bearish but with Growth Potential Despite its technological strengths, current market sentiment remains bearish, primarily due to the following reasons: Significant Price Drop: $MINT recently experienced a sharp decline of 35.85%, signaling strong selling pressure. High Selling Pressure: Large-order selling dominates 39.47% of recent trades, which suggests that whales and early investors may be taking profits. Early Sell-offs Due to Airdrops: Many new projects experience heavy selling in their initial phases as early adopters cash out rewards. However, there are bullish signs that hint at a potential recovery: Increasing Activity from Medium and Small Buyers: While large investors may be exiting, retail investors and smaller market participants are accumulating $MINT at lower price levels. This could indicate growing confidence among long-term holders. Potential Institutional Interest: If the project continues to deliver on its promises, institutional investors could eventually support price stabilization and future growth. 🎯Key Factors That Could Drive a $MINT Recovery A. Network Adoption and Ecosystem Growth One of the biggest catalysts for a $MINT recovery would be real-world adoption of its Layer 2 technology. If developers start building applications and NFT marketplaces on $MINT, demand for the token could rise significantly. Additionally, partnerships with major blockchain projects and NFT platforms could expand its reach. If $MINT secures integrations with existing NFT giants like OpenSea or Blur, it could gain credibility and utility, driving increased usage. B. Scalability and Cost Efficiency as a Competitive Edge Ethereum’s high gas fees have pushed many developers and traders toward alternative Layer 2 solutions. If $MINT can demonstrate that its technology significantly reduces fees and speeds up transactions, it could become a preferred solution for NFT transactions. C. Community and Developer Engagement A strong community and developer ecosystem will be essential for long-term success. If $MINT can attract talented blockchain developers and foster innovation, it will have a higher chance of becoming a key player in the Web3 space. D. Market Recovery and Broader Crypto Trends Since altcoins often follow Bitcoin and Ethereum’s price movements, a broader crypto market recovery could provide tailwinds for $MINT. If Bitcoin enters another bullish cycle, investor confidence in high-potential altcoins like $MINT could return. ⚫Final Thoughts: Cautious Optimism for $MINT While $MINT’s short-term outlook remains uncertain, its technological foundation, growing community, and potential adoption make it a project worth watching. Investors should remain cautious due to high volatility and current bearish sentiment, but those with a long-term perspective may see an opportunity if the project gains traction. Before investing, it’s crucial to: ✅ Monitor on-chain activity and whale movements. ✅ Follow official project updates for new partnerships. ✅ Assess market trends and overall Layer 2 adoption rates. If $MINT successfully executes its roadmap and attracts real-world usage, it could become a strong contender in the Layer 2 space, potentially reversing its bearish trend and entering a new growth phase.

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Dubai's Emirates NBD Bank Now Allows Customers to Buy Bitcoin & Crypto: A Deep Dive into the Impact Dubai’s largest bank, Emirates NBD, has announced that it now allows its customers to buy, sell, and manage Bitcoin and other cryptocurrencies directly through its digital banking app. This is a groundbreaking move for both the banking sector and the broader cryptocurrency ecosystem. Here’s an in-depth look at what this means, why it's important, and the potential implications for the future. 1. Overview of Emirates NBD’s Move Emirates NBD is one of the largest and most well-established financial institutions in the UAE, and its decision to integrate cryptocurrencies like Bitcoin into its digital banking offerings marks a significant step toward mainstream adoption of digital assets in the region. Customers will now be able to: - Buy and sell Bitcoin and other major cryptocurrencies through their existing Emirates NBD digital banking app. - Track and manage their crypto holdings alongside their regular banking products, such as savings accounts, loans, and investments. - Trade digital assets seamlessly within the same ecosystem that they use for traditional banking, making the process more accessible and user-friendly. 2. Why is this a Big Deal for the Cryptocurrency Space? This move by Emirates NBD is groundbreaking for several reasons: - Legitimization of Cryptocurrencies: By offering direct access to Bitcoin and other cryptocurrencies within a mainstream banking app, Emirates NBD is legitimizing digital assets in the eyes of the public. It provides an alternative to traditional investments and signals that banks are increasingly viewing digital assets as a legitimate store of value and a viable investment option. - Accessibility and Convenience: One of the major barriers to widespread cryptocurrency adoption is the complexity involved in buying and managing digital assets. Emirates NBD is making it easier for everyday customers to access Bitcoin and other digital currencies through a trusted platform they already use. This could increase crypto adoption by reducing the learning curve associated with cryptocurrency exchanges and wallets. - Integration with Traditional Finance: The integration of Bitcoin into the banking system demonstrates a growing merger of traditional finance with decentralized digital currencies. This might encourage other banks in the region and globally to follow suit, marking a pivotal moment in the evolution of the global financial system. 3. The Role of Dubai as a Crypto Hub Dubai has long been at the forefront of embracing cutting-edge technologies and innovation. The emirate has sought to position itself as a global hub for blockchain and cryptocurrency technology. This latest move by Emirates NBD further cements Dubai’s position as a leader in the adoption of digital currencies. - Regulatory Support: Dubai has created a favorable environment for cryptocurrencies with its forward-thinking regulatory framework. The Dubai Multi Commodities Centre (DMCC), the Dubai International Financial Centre (DIFC), and other government-backed entities have created a regulatory landscape that encourages the growth of blockchain startups and crypto projects. - Crypto-Friendly Business Environment: In addition to financial institutions like Emirates NBD, Dubai has attracted crypto exchanges, wallet services, and blockchain startups, making it a leading global destination for cryptocurrency businesses. - Government Initiatives: Dubai's government has also introduced initiatives like the Dubai Blockchain Strategy, which aims to use blockchain to drive economic innovation and sustainability. This has created a unique synergy between traditional financial institutions and the crypto ecosystem. 4. The Economic and Cultural Implications for the UAE and the Middle East This decision by Emirates NBD will likely have a multifaceted impact on both the UAE and the broader Middle East region: - Investor Interest and Capital Inflows: With the UAE positioning itself as a crypto-friendly nation, the region is expected to see an influx of foreign direct investment (FDI) from cryptocurrency investors, blockchain entrepreneurs, and tech giants. The ability to seamlessly buy and sell Bitcoin through a trusted financial institution can draw more investors into the region’s financial markets, especially as institutional adoption of Bitcoin continues to rise. - Fostering Financial Inclusion: In the Middle East, where access to traditional banking services can be limited in some countries, this move can help increase financial inclusion. Cryptocurrencies can serve as an accessible entry point for unbanked or underbanked populations, providing them with an alternative way to store value, invest, and participate in the global economy. - Raising Consumer Awareness: Emirates NBD’s adoption of cryptocurrencies will likely increase consumer awareness about digital assets, encouraging more people to explore the potential benefits of Bitcoin and other blockchain-based innovations. 5. The Impact on Emirates NBD and Its Customers For Emirates NBD itself, this is an opportunity to diversify its financial products and stay ahead of the curve in the evolving digital economy. - Attracting Younger, Tech-Savvy Customers: The bank is tapping into a growing demographic of younger customers who are more likely to be familiar with cryptocurrencies and are increasingly seeking to integrate their digital and financial lives. Offering crypto services allows Emirates NBD to cater to this new market and build stronger customer loyalty. - Revenue Generation: The integration of crypto services will likely generate additional revenue streams for Emirates NBD, particularly in terms of transaction fees, trading services, and potentially even asset management related to digital currencies. - Expanding Financial Services: The addition of crypto-related services will allow Emirates NBD to offer more comprehensive financial services that appeal to both traditional investors and crypto enthusiasts. This move could eventually lead to the creation of crypto investment products, lending services, and other crypto-related offerings. 6. The Future of Cryptocurrencies in Traditional Banking The decision by Emirates NBD to allow its customers to buy Bitcoin and other cryptocurrencies through their banking app is part of a larger trend in which traditional financial institutions are increasingly integrating digital assets into their services. Other global banks, such as JPMorgan Chase, Goldman Sachs, and BBVA, are already exploring crypto services or have begun offering similar solutions to their clients. As the regulatory environment around cryptocurrencies becomes clearer and more institutions offer crypto-related services, the lines between traditional finance and the digital currency ecosystem will continue to blur. This could eventually lead to: - Wider adoption of blockchain and crypto technologies by traditional financial institutions. - More innovation in digital banking services that integrates cryptocurrencies alongside conventional assets like fiat money, stocks, and bonds. - Greater acceptance of cryptocurrencies as a legitimate asset class within investment portfolios. Conclusion Emirates NBD’s move to allow customers to buy Bitcoin and other cryptocurrencies through its digital banking app marks a historic step toward integrating digital currencies into the mainstream financial system. This decision not only benefits customers by making crypto transactions more accessible and user-friendly but also positions Dubai as a global leader in the adoption of blockchain and cryptocurrency. As the world watches Dubai’s embrace of cryptocurrencies, other financial institutions across the Middle East, Asia, and the broader globe are likely to follow suit, making this a pivotal moment in the evolution of both traditional and digital financial services. The future of banking is clearly moving toward greater integration of blockchain technologies —and this move by Emirates NBD is just the beginning.