Attention is the only scarce resource in crypto.

Period.

The rate of change of attention and the saturation of ownership are useful metrics to observe or estimate when valuing crypto assets or playing the massive multiplayer game of crypto trading.

The best traders are looking for low relative popularity assets that have lots of space for their valuations to grow IF they are able to cross the chasm from obscure to popular.

They are selling them when ownership catches up with attention. Holding “Winners” through euphoric periods of the bull run is insanely hard.

Oh and don’t listen to most crypto influencers on X & YT. They’re turning your attention into a product for their advertising businesses.

h/t @Cobie’s substack December 2021