Historic Parallels Back in 2016, @jmonegro authored the most profitable thesis in crypto history: "Fat Protocols" Ethereum was ~$1b mc Fast forward to 2018, and on the back of ETH's incredible 2017 run, a new class of "alt-L1s" launched at extremely reasonable valuations Most, even early investors, faded them. Study Multicoin's fellow early Solana investors, many of whom sold their SOL to Kyle and Tushar below 10-50c several times. Those sellers experienced immense pain when SOL wen...