this cycle isn’t like any other cycle the closest comparison i see is the 2020 DeFi expansion, when an entirely new vertical brought billions of dollars onchain this time, stablecoins and especially tokenized stocks are opening another new lane for crypto institutional capital, retail and developers are all entering through different channels, while the market structure itself has played out differently from prior four-year cycles trying to map this cycle one-to-one with the last one could miss what’s actually changing in front of us

i’m increasingly bullish on Solana DeFi as one of the more underlooked trades this cycle memes captured most of the attention last cycle, while protocols like Jito and Jupiter were still early in their token lifecycle now there’s a much clearer picture of which protocols are becoming core infrastructure for Solana low fees, fast execution and growing onchain volume strengthen that setup as retail, institutions and tokenized stocks continue moving onchain

i think tokenized stocks are becoming one of the strongest metas on Solana Stonk is sitting right at the intersection of tokenized stocks and memes, with support across the broader Solana > anyone with a wallet and internet connection can get exposure to assets that may otherwise be difficult to access stablecoins proved how powerful that access can be and i think tokenized stocks are heading down a similar path

social capital is becoming a bigger part of how onchain trades reach escape velocity - public PnL creates momentum around a position - leaderboards make winners highly visible to new retail - new users naturally gravitate toward coins where they can see others making money - that visibility can turn into social consensus and accelerate distribution we saw a version of this with DOGE, and i think it’ll matter even more with social trading apps this cycle

i still think the rotation from majors into onchain is one of the clearest patterns to watch - majors move first as capital goes risk-on - stables sitting onchain start looking for higher-beta opportunities - limited supply of quality coins can make repricing happen fast - $ANSEM, CASHCAT and Pons were early examples of that rotation - launchpads + memes are still attracting capital i also expect Solana to have its own answer as Robinhood’s onchain ecosystem grow

trading NFL & crypto this season with Banks on polymarket squads go birds 🦅🦅🦅 polymarket.us/squad/join/7xO…

This has been my most profitable tweet of all time As I wrote it, I thought “then why am I not holding them?” Rest is history