PM for liquid portfolio @anagramxyz Prev: Diplomat @SolanaFndn I write sometimes at https://xitter.cf/t.co/NZeapsKnX6
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I am sad for the loss of the fun we used to have
But happy for the remaining capital in crypto to be less... how do I say this... dumb
The laws of physics dictate that solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp can only have +/- 20% days
Extremely few products in crypto that you can look at and think "man usage could actually 1,000x-10,000x from here in the next year" and it would be a reasonable scenario to consider. But I think solana:Grass7B4RdKfBCjTKgSqnXkqjwiGvQyFbuSCUJr3XXjs ' Content and Search APIs could do it
There are ofc tail notable risks to the product (e.g., lawsuits, regulation)
But sometimes, you gotta bull-ieve
You can just go to LCR.net and give your agents access to a fleet of 10s of thousands of browsers that have the ability to route requests through millions of real residential IP addresses.
There are some tokens where retail will outperform funds because they "get" the product and are users ($PUMP, solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp, $HYPE. ethereum:0x8881562783028f5c1bcb985d2283d5e170d88888 etc.)
And there are some assets where retail won't "get it" and funds will be the ones who outperform.
solana:CREDBHvVqREBCAxMihzr8D1nepHMr2gmQoZWpmgGmeta I suspect will be in the latter camp (sadly for our friends on CT and @fomo). "Boring" enterprise business that is crushing it, but that people on CT aren't users of, and the business value prop requires an understanding of payments flows to grok
Our Q3 $CRED ownership coin report is here.
We put the numbers, ownership structure, treasury decisions, market performance and valuation analysis in one place.
Q3 brought $533.2M in payment volume and a 50.8% increase over Q2.
Q3 was a big quarter for Credible, now it’s time to look under the hood🧵
Would be comical if we actually get a Black Monday after the bulls victory lapped from the green futures open last night
Not the outcome I expect, but would be poetic
No strong view on macro, i have learned i know nothing.
But imo, if crypto nukes here, you
- pick the handful of names you like
- press the green button with righteous fury when we get liquidations
- walk away from your computer
- sell the next time we see "lower quality" assets ripping
Kuleen ◎ retweeted
We continue to focus on what I call "back-door" problems in onchain finance rather than "front-door" problems and it's severely limiting adoption.
Back-door problems:
- Options (@DeriveXYZ)
- Tranching (@roycoprotocol)
- STRIPS (@pendle_fi / @ExponentFinance
- @papertrade_xyz
- Exotic stables (@ethena, @SkyEcosystem)
Front-door problems:
- Onramping money
- Removing anything to do with crypto (chains, gas)
- Abstracting anything to do with wallets
The back-door problems, while innovative, compete for the same set of onchain users. They do not expand the TAM. Many of them are niches within niches.
Rather than refining your protocol, you are better off figuring out a way to grow the TAM via front-door problems. If not, I predict you will be replaced.
In fact, I predict many of these protocols will be replaced by apps that solve "front-door" problems.
In a few years, we will look back and say, "Remember that era when we all had chrome extensions and physical hardware wallets." I see no world where that becomes the norm.
The companies that solve front-door problems will be the ones that dictate which back-door companies survive. You have been warned.
This PA gives me hope for the future of tokens capital markets
We still get spurts of completely dumb price action (like we saw in Sept), but they are shorter than in the past and seem to revert much faster
Quality stuff continues to, by and large, outperform. The great re-weighing continues
Must-listen for anyone who cares about the future of the internet financial system
Next level clarity of thought and clear communication from @WeiszM.
Especially appreciate the level-headed view on what assets make sense to focus on near-term [private assets with 1) sufficiently high yield to be interesting and allow for looping and 2) consistent and relatively frequent+short-term cash flows] vs those that need time to make sense as collateral for lending (e.g., venture LP stakes)
And well steered convo by @JasonYanowitz
There's a long long way to go, but you get a clear sense for the ambition of what Michael hopes to accomplish
We are, of course, long solana:KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS
@P2Pdotme cooking with gas lately
WAU, pace of new customer onboarding, and $ volumes all up and to the right
Someone is going to build the dominant platform for onramping the world's developing economies
That person might just be @SheldonP2P
solana:P2PXup1ZvMpCDkJn3PQxtBYgxeCSfH39SFeurGSmeta
Now it's solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp' turn to test its big boss: $0.3
I am a solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp bull but tbh the token has such insane vol that I have given up making any short-term predictions on it.
It will defeat the boss eventually though, no doubt
$GRASS making its third attempt to break $0.6 this year.
Traders will undoubtedly sell into the resistance, but I lean towards the asset breaking out this time.
Why?
1/ market gradually realizing my point in the QT
2/ previous run-ups were a lot of gaming around the announcement call, this time I suspect PA is less driven by this
3/ they say third time's the charm right?
Very very few teams in crypto have the "taste" needed to acquire users from outside crypto at scale
@fomo clearly does
and now it's apparent that @noahdummett and the @shufflecom squad do as well
Another week, another ethereum:0x8881562783028f5c1bcb985d2283d5e170d88888 bullpost because they are firing on all cylinders:
1/ Team continues to prove it is operating at another level when it comes to marketing (landed @ShaneStoffer, going mega viral today because of their deal with @dohertyjackk - see QT)
2/ Shuffle.com had yet another record revenue week, ~$6mm (see chart)
3/ I saw the upcoming onchain casino product in person in SG, it looks amazing. Hyperliquid. of casinos
Token still trades at 1x rev/mcap btw
Interesting week for ethereum:0x8881562783028f5c1bcb985d2283d5e170d88888
1/ Business is booming: they had their best week of the year, making almost $6mm during the week
2/ There is a war being waged in the ethereum:0x8881562783028f5c1bcb985d2283d5e170d88888 order books. Highest volume week, by a huge margin, since the token launched in March 2024. My guess is we are undergoing a large shift of ownership from old to new hands as longtime holders sold into the rip
PA from last weekend was the opening salvo, but I think the war is just beginning.
And I have a strong sense for which side is going to win
