Bankless(@Bankless):.@AustinBarack says crypto’s infrastructure era is over. “The excitement around new chains, be it layer twos or layer ones, is mostly a thing of the past.” “We’re gonna see 90 plus percent of revenue generated by the applications.” “I think we’re gonna find the most enduring tokens be applications and money.” “It’s gonna really be about applications, usage, and money.”

2026.09.08 12:17

.@AustinBarack says crypto’s infrastructure era is over. “The excitement around new chains, be it layer twos or layer ones, is mostly a thing of the past.” “We’re gonna see 90 plus percent of revenue generated by the applications.” “I think we’re gonna find the most enduring tokens be applications and money.” “It’s gonna really be about applications, usage, and money.”

Bankless@Bankless

2026.09.07 12:00

NEW EPISODE - Crypto’s Next Winners Won’t Be Blockchains The infra era is fading. The next wave of crypto value may come from apps with real users, real revenue, and real tokenholder returns. @AustinBarack joins @TrustlessState to break down: • Why $VVV could still be materially undervalued • $PUMP trading at just ~5x buybacks • @Hyperliquid’s expanding role in global markets • @ether_fi's evolution into an onchain neo brokerage • Why applications could eventually generate 90%+ of crypto revenue CHAPTERS --- 0:00 Finding Growth and Value in Crypto 4:17 Why Liquid Tokens Are Winning His Attention 7:00 How Austin Values Venice and VVV 15:34 The Biggest Bet in the Venice Model 24:53 Can Venice Balance Growth and Token Value? 32:53 Venice Growth and the OpenRouter Signal 37:31 Can Fundamental Tokens Outperform the Crypto Cycle? 43:50 Pump, Hyperliquid and EtherFi 48:57 EtherFi’s Shift Into a Neo Brokerage 58:24 Why the Market Discounts Pump 1:02:42 The Next Era of Crypto