The Defiant The $10 Trillion Question: Crypto's Biggest Cycle Yet with Ellio Trades
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Aug 25, 2025 Ellio Trades, Co-Founder of BlackHole, shares his journey in the crypto space with a focus on decentralized exchanges. He discusses the potential for a new altcoin season and how institutional investors are reshaping the market. Ellio highlights the innovative V3.3 model of BlackHole and its role in fostering deep liquidity. He also explores the implications of decentralized finance and stablecoins in a regulated environment, emphasizing the importance of sustainability and community in the evolving crypto landscape.
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Hedge Between Cycle Narratives
- Prepare for both scenarios: treat markets like a four-year cycle but be open to a longer, less severe drawdown pattern.
- Take profits when appropriate and keep one foot in the supercycle narrative while managing risk.
DeFi Is The Core Long-Term Bet
- Ellio identifies DeFi as the most obvious crypto-native innovation with unique product-market fit.
- He expects DeFi protocols to reprice as regulation and institutional addressable market expand.
Play Stablecoin Infrastructure
- Consider allocating to stablecoin infrastructure and stablecoin-native chains as practical plays.
- View Ethereum as infrastructure and specialized stablecoin chains as application-layer opportunities.