Venture Capitalist Chris Burniske Says Subtle Signs of Crypto Bull Market Flashing Amid Depressed Sentiment
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Investor and former crypto analyst at ARK Invest Chris Burniske says that digital assets are showing subtle signs of an early bull market move.
Burniske, a partner at venture capital firm Placeholder, says that modest rallies amid bearish market sentiment bode well for crypto assets.
“Continuing to see subtle green shoots, while public sentiment remains depressed.”
Zooming in, the investor flags some under-the-radar ecosystems that he says are showing contagious enthusiasm, helping to drive the crypto market cycle to his $10 trillion market cap target.
“Contagious enthusiasm coming from up-and-coming ecosystems like that of Celestia or Move (Aptos, Movement Labs, Sui Network) While the majors of Bitcoin, Ethereum and Solana continue getting after it –
Eyes on $10 trillion, don’t get shook.”
Previously, Burniske said that the Move ecosystem was something he had his eye on for the current market cycle.
Move is a programming language originally built by a consortium backed by tech giant Meta for the now-defunct Diem project. It was then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).
Said Burniske,
“I think it’s worth paying attention to – even though it’s very small at this point – the Move ecosystem so things like Movement, Aptos, Sui…
People are not really talking about that ecosystem right now in a way that I find interesting, because I always like to go where people aren’t talking about something much. It’s an uncrowded wave that might get very good.
When you look at the birth of Move and Sui and Aptos, it came out of Meta. That’s a big deal. People don’t realize how much time and work and money went in from the Meta side to make something for normies, that got pulled in the last week before launch… And then spread out to the broader ecosystem.”
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Author: Alex Richardson
