You can tell crypto is becoming more efficient bc in last 24hours multiple exchange founders have posted essays reminding people that trading is a zero sum game. In past cycles whenever we had OI wipes/moments of reckoning all of the main characters would tweet out "WAGMI" or w/e
In 2021 if an exchange/NFT mktplace founder said that crypto trading is a zero sum game there would probably be 100 replies telling them they were retarded. You could write paragraphs explaining why few $ B of illiquid LUNA uPnL wouldn't back 20b UST at $1 and nobody would listen
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