POLITICAL PIVOT ON BLOCKCHAIN - PANTERA MONTHLY LETTER

Summary from the TLDR Crypto newsletter

There has been a significant shift in the political landscape regarding blockchain, and the market has responded positively. Q1 had strong growth, but there was a pullback in Q2 caused by an outsized focus on BTC and ETH, new token launches diluting capital and attention, and the “low float, high FDV” meta being criticized. Despite this, Pantera remains bullish, citing potential market tailwinds and “Phase 2” of the bull market where altcoins tend to outperform.