In the ever-evolving world of cryptocurrency, sometimes a single thread on X (formerly Twitter) can capture the zeitgeist perfectly. That's exactly what happened when DeFi expert Ignas, known as @DefiIgnas, shared his thoughts on the current bull cycle. Drawing a fascinating analogy to the historical Gilded Age—and the HBO series of the same name—he explains why this market run feels different, and why it's a pivotal moment for crypto natives.

Ignas kicks off by admitting he's not thrilled with this bull cycle. Not because it's tougher, but because it lacks the raw, internal innovation that fueled past cycles' "degen fun." Instead, it's driven by external macro factors. But here's the twist: he sees it as a redemption arc for the crypto community. We're finally shedding the stigma. Remember when saying you work in crypto felt embarrassing? Now, with lobbying wins in the US and record ETF volumes, outsiders are forced to take notice—and they're not happy about it.

The Old Guard vs. The New Money

To illustrate, Ignas points to The Gilded Age, a show set in 1880s New York where old-money families clung to power, derived from land and trade. The "new people"—tycoons from railroads, steel, and finance—were richer but dismissed as vulgar. Sound familiar? Crypto folks have been the outsiders, facing bank account closures, Ponzi accusations, and media smears. Yet, institutions like BlackRock are jumping in with ETFs, while holdouts like Vanguard still call it "speculation."

Just like those Gilded Age newcomers building lavish mansions (their version of Lambos), crypto had its flashy phase last cycle. This time, it's quieter—more about integration. Politicians are listening because ignoring crypto could cost elections. Forward-thinking giants like Visa and Mastercard are adopting blockchain tech, and even the EU is eyeing stablecoins on public chains to catch up.

Crypto's Tipping Point and the Meme Connection

Ignas nails it: with our anon Pudgy Penguins and CryptoPunk NFTs, we're becoming the new establishment. Meme tokens and NFTs aren't just fun side hustles; they're symbols of this shift. Pudgy Penguins, for instance, started as a cute meme but evolved into a cultural phenomenon, blending community-driven value with real-world utility. It's proof that what traditional finance sees as "vulgar" speculation is actually innovative wealth creation.

In a follow-up, Ignas TL;DRs it: "We are becoming the new elite boys and girls. Your tradfi banker doesnt like you but he will need your money to pay for his bills." He even shares a clip of a Financial Times columnist fumbling to grasp Bitcoin, highlighting how out-of-touch the old guard remains.

Why This Matters for Meme Token Enthusiasts

For those deep in meme coins, this cycle's societal shift means more legitimacy. Tokens like those inspired by viral trends or NFTs aren't fringe anymore—they're part of the broader blockchain revolution. As crypto lobbying strengthens and institutions adopt, meme projects could see unprecedented growth. Think about it: if BlackRock's dipping toes in ETFs, who's to say meme-backed assets won't follow?

Ignas recommends watching The Gilded Age to get the full picture. It's a reminder that history repeats, and crypto is on the winning side. If you're building or investing in DeFi, memes, or NFTs, this is your moment. The old establishment is crumbling, and we're the ones holding the tools to rebuild.

Stay ahead in the meme token space by following updates on Meme Insider. What's your take on this cycle—redemption arc or just another pump? Drop your thoughts below!