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Crypto’s ‘Fat Protocol Thesis’ Is Dead- Arthur Cheong
- Crypto's 'Fat Protocol Thesis' is losing relevance as the market matures.
- Infrastructure projects have inflated valuations, while applications with real-world utility attract investor interest.
- Adoption-driven applications are now prioritized over speculative blockchain protocols.
- Arthur Cheong of DeFiance Capital believes the 'Fat Protocol Thesis' is at its tail end.
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