I just closed my Zcash position for +$315,190. Here's a full recap of the trade and what i'm doing next.

so ur telling me the #1 dex and lending protocol on near, with the near founder as an advisor who regularly posts about it is at a 66M mkt cap? yep mine plz

Mando reveals he's shorts $BTC and $ETH while staying long $HYPE, $NEAR and zcash:native “I do think Bitcoin’s going to head down to like $80–$81K.” “I short Bitcoin and ETH in decent size.” “I’ve just kept my long, which is basically HYPE, NEAR, and Zcash.” “I’m up a lot because all those things have basically rallied, and Bitcoin is down at $85K.” W/ @rektmando | @osf_rekt

After co-inventing ChatGPT, I kept asking myself: why have superhuman chat models not led to AGI? I’ve spent the last 2 years in stealth building a new way to train models (RLCD), and a new type of frontier AI model that we are releasing today: Jev • 20-200x faster • 40-400x cheaper (w/ output tokens free) • Frontier composable intelligence optimized for decisions AFAICT the shortest path to AI-based economic revolution

Recently, a lot of people have been DMing me asking how I view $PONS, so I want to share my personal thoughts here. 0x39dbed3a2bd333467115de45665cc57f813c4571 PONS has fallen from nearly a $1B market cap to $620M. I think this is more like a valuation reset and profit-taking after an extreme rally, rather than a significant deterioration in PONS’ fundamentals. In fact, I think the fundamentals are still getting stronger. That said, I’m still cautious in the short term, but remain bullish on PONS in the medium to long term. The reason is that I think the opportunities in crypto are no longer centered around a single narrative. We are starting to see multiple narratives developing in parallel, and Attention is becoming an increasingly important one. PONS, HOOD, and PUMP are all representative projects in this category. So in my view, PONS’ positioning is changing. It is no longer just a Launchpad, but is gradually becoming an important infrastructure layer on RH Chain for capturing user attention, trading activity, and Meme flow — similar to what Pump is on Solana. But PONS and PUMP have taken different paths. PUMP relies on capital, users, and network effects, while PONS’ core model is: Permissionless Launch → Trading Volume → Revenue → Buyback → Burn And PONS is already generating real economic activity. Token creators have now earned $93M on Pons, while a large number of tokens continue to be launched and traded on the platform. So I think there are several reasons why PONS fell from $990M to $620M: First, the price moved up too quickly, accumulating a large amount of profit-taking pressure. Second, as PONS approached a $1B market cap, the market started shifting from “Can it keep going up?” to “How much is PONS actually worth?”, which naturally creates more valuation pressure. Third, the market is now trying to determine whether PONS’ current high revenue and trading volume represent a long-term trend, or simply a temporary peak driven by the RH Chain Meme boom. But the reasons I remain bullish are also clear. The most important things have not broken: RH Chain hasn’t broken — it is still growing. Pons hasn’t broken — it remains a core source of flow. Revenue hasn’t broken — previous revenue levels have already reached a very high level. Buyback/Burn hasn’t broken — more than 30% of the supply has already been burned, and it remains a real value-capture mechanism. The Creator Economy hasn’t broken — creators have now earned $93M on Pons. The Tokenized Stock narrative hasn’t broken — Pons is increasingly intersecting with RH Chain’s Tokenization narrative. If trading volume and revenue can stabilize, the number of launches continues to grow, Buyback/Burn continues, and PONS maintains its position as a core Launch Flow on RH Chain, then this correction is more likely to be a valuation reset rather than a fundamental breakdown. But if we start seeing: Volume ↓ → Revenue ↓ → Launches ↓ → Buyback ↓ while competing projects begin taking away PONS’ Launch Flow, then I would turn bearish, because that would mean PONS’ core Revenue → Buyback → Burn flywheel is starting to lose momentum. So my conclusion is: Don’t chase it in the short term. Watch the data in the medium term. Remain bullish in the long term. What I’m really betting on now is no longer whether PONS can return to a $1B market cap, but whether it can prove that it is becoming the core Attention + Launch + Trading Infrastructure on RH Chain. If PONS can prove that its current revenue and trading volume are becoming a sustainable Revenue Base driven by the growth of the RH Chain ecosystem, then this decline could simply be a valuation reset rather than the top. And truly valuable projects will always go through several major corrections: Doubt → Valuation Reset → Fundamental Value Validation → Market Repricing.