$STONK is down ~75% from its highs. here's why i'm still watching it. last 30 days on defillama: stonkfun: $20M revenue, $12M spent buying back $STONK pons: $6M revenue, $5.4M in buybacks stonk made 3x more and bought back 2x more. yet pons trades at ~$190M and stonk at ~$75M. 21% of total $STONK supply is already burned. all paid for by revenue. and the launchpad isn't dead. si, mask, zcat, the biggest runners on solana lately all came from stonk. the risks: volume cooled hard. last week stonk made ~$1M vs $20M for the month. and point farm capital holds 40.9M $STONK (~5% of supply) on fomo. if he decides to sell, it's real pressure. but if volume comes back to tokenized stocks, one more runner shows up, or the current ones start moving again, stonk won't lag behind. the best narratives are the ones you can explain in one sentence. "launch a coin paired with a real stock" is exactly that. stonkfun built liquidity around tokenized equities, and i think that narrative can hit harder than the first wave did.

1.4 million addresses now hold stocks on Solana

i went through every $MASK fud on my tl and followed the money on-chain. here's what the chain actually shows. "dev holds 40%, rug incoming" dev bought ~400M at launch and still holds ~385M today. sold ~3M on day one. since then, his tokens only went to a burn wallet and the LP. defillama literally tracks that wallet as protocol treasury. "the token is useless" 100% of protocol fees go to $MASK buybacks. they post the burn tx almost every day. 21.6M $MASK burned so far. that's 2.16% of supply in 3 weeks. "it's just a bonk guy pump" nullmask is #1 privacy protocol by revenue on defillama, ahead of tornado and railgun. even counting only deposit/withdraw fees, it did more than railgun last week. 3 weeks after launch. funny how the wallet everyone's scared of is the one burning supply.

Nullmask / $MASK: the most underrated privacy coin of the cycle $MASK is currently sitting at around $23.5m market cap ($40m FDV, with 40% of supply out of circulation and 2.16% already burnt) i believe Nullmask is by far the most underrated privacy coin in all of crypto, and i'll explain why in this thread let's start by looking at the top privacy coins and their market caps: • ZCash / $ZEC: $21 BILLION market cap • $NEAR: $6.8 BILLION market cap these two have been by far the biggest gainers in the top 50 cryptocurrencies over the past year, and it's not even close! if it isn't already obvious, both have run hard (and continue to run) on the PRIVACY narrative but what's impressive isn't just their gigantic market caps it's how much they've added in the past year alone: • ZCash added $18 BILLION to its market cap • NEAR added $4.3 BILLION to its market cap all before the bull run has properly started so how does this affect Nullmask / $MASK? the incredible runs ZEC, NEAR, and other privacy coins have had have established beyond reasonable doubt that this is the privacy cycle and i believe Nullmask is going to win big because it sits right at the heart of this narrative, with several key advantages that many much bigger privacy coins don't have let's start with the PRODUCT Nullmask makes private transactions possible across EVM chains and Solana in the most normie-friendly way imaginable you can use your existing wallets (MetaMask, Rabby, Phantom, etc.) the same way you normally would, while enabling private transactions across major ecosystems like Ethereum, BNB, Base, Robinhood, and Solana yes, you read that right you don't need to learn how to use a new wallet, create a new seed phrase or private key, learn to navigate a complicated new blockchain, or deal with any of that nonsense you can activate Nullmask's privacy capabilities on your existing crypto setup in just a few clicks all you need to do is activate Nullmask's custom RPC and let its 'virtual private network' shield your transfers using zero-knowledge proofs i'm simplifying the technical details to make this as normie-friendly as possible, but that's the gist of it and this isn't just speculative stuff: Nullmask is already LIVE & WORKING on Ethereum, BNB, Base, and Robinhood you can actually use the product and verify that it works! but i'm bullish on $MASK for more than just the product TOTAL ADDRESSABLE MARKET (TAM) what makes Nullmask so incredibly bullish and underrated isn't just how impressive the product is, but the size of its total addressable market i've never used the ZCash or NEAR blockchains, and the same is true for tens of millions of users across Solana, Robinhood, Base, BNB, and Ethereum yet ZCash and NEAR have market caps of approximately $21 BILLION and $7 BILLION, respectively the average crypto user may never touch the ZCash or NEAR blockchains, but they're already using Ethereum, Robinhood, BNB, Solana, and Base and Nullmask caters to those users this begs the question: what is fair value for Nullmask when ZCash and NEAR are both trading at multibillion-dollar valuations? LET'S TALK ABOUT THE TEAM when a protocol promises something as ambitious as Nullmask does, you obviously want to know who's building it and whether they're capable of delivering Nullmask is built by several ZCash contributors, led by Tomas Krnak Tomas Krnak helped build shielded ZCash transactions for hardware wallets. his work was funded by the ZCash Foundation and merged into the main ZCash protocol itself i should also add that the lead dev is doxxed and regularly participates in live interviews! PARTNERSHIPS & INTEGRATIONS we've established that the team has serious credentials in the privacy space and that the product is already live and working but what about partnerships, integrations, and endorsements? here's a list of industry players Nullmask has collaborated with in some form since launching: • NEAR Protocol ($11.3 BILLION ATH) • THORChain ($4.4 BILLION ATH) • Dashpay • Beldex • Quai Network the team also revealed in a recent AMA that it's in discussions with major wallet providers, including MetaMask, about potentially integrating Nullmask as an additional privacy layer all of this for a product that isn't even a month old, by the way! METRICS & REVENUE Nullmask looks incredibly strong from a fundamentals perspective, but the key question is: what do the metrics actually look like? since the protocol launched a little over two weeks ago, Nullmask has generated: • $37.8 MILLION in total protocol volume, averaging $2.36 million per day • $833k in total revenue, averaging $52k per day it has also burnt 2.16% of supply and distributed $1.4 MILLION in $ZEC rewards to holders since the token launched approximately three weeks ago (token launched a week before the protocol) and here's the important part: all these adoption metrics were recorded before the protocol is live on Solana, which is expected to happen next week, and mostly before it went live on Robinhood and BNB just a few days earlier the team also has 20% of the token supply allocated to a long-term incentives campaign designed to encourage people to use the protocol and accelerate adoption i should also add that Nullmask is now ranked #1 among ALL privacy protocols for both 7-day and 30-day revenue, according to DeFiLlama, barely two weeks after its protocol went live, and by a clear margin this is despite the fact that -it only went live on Robinhood and BNB a few days earlier - it is yet to launch on Solana - its incentives program aimed at accelerating adoption is yet to launch the speed of adoption Nullmask has witnessed is impressive for any privacy protocol TOKENOMICS 20% of the token supply is allocated to the team and locked for two years, meaning these tokens won't start entering circulation until at least two years after token launch another 20% is reserved for an incentives campaign aimed at accelerating protocol adoption the remaining 60% of supply is circulating this means approximately 60% of the supply is currently in circulation, while the bulk of the rest won't enter circulation anytime soon ROADMAP • Launch on Ethereum, Robinhood, BNB, and Base (LIVE) • Cross-chain bridge (LIVE) • Unshield directly to ZEC wallets (October 2026) • Launch on Solana (Q4 2026) • NullMask SDK (Q4 2026) • Privacy Perpetuals (Q4 2026) TO CONCLUDE i know Nullmask might sound too good to be true right now, and it's crazy to me that it's sitting at such a ridiculously low market cap but believe it or not, all of the facts in my thesis above can be independently verified i'm not going to ask you to buy Nullmask i'm simply laying out my thesis and thought process for this trade, and explaining why i believe it could be a big one i objectively believe $MASK will become a multibillion-dollar token before the end of the bull run, and i expect it to be yet another kingmaker trade for me nothing in this thesis is financial advice it's up to you what you do with the above information

quick update: bonk guy liked this one. a few hours later $SI is up 30% and pushing out of the triangle. not saying those two things are connected. funny timing though.

been seeing @theunipcs talk a lot about $SI over the past two days. and honestly, some of his points make sense. the biggest holder reportedly dumped around 4% of the supply, yet the price held up on heavy volume. distribution looks a lot healthier than it did at 60M. funny how everyone says they want to buy capitulation, but most only show up once the chart is green again. unipcs is calling for new ATHs. i'm not that confident yet, but buying a narrative at 14M feels very different from chasing it at 60M.

many will wish they bought the capitulation on Super Inu / $SI in hindsight price holding this level so strongly on a massive volume spike while the previous top holder sells 4% of supply strongly suggests the bottom is in plus, we're at the bottom of the range supply distribution looks MUCH better now, making $SI increasingly attractive to whales and new buyers R/R overwhelmingly favors being long what is arguably the strongest new memecoin narrative of this cycle new ATHs, then hundreds of millions at the barest minimum IMO!