Markets @Delphi_Digital // BTC Game Theory Creator // Founder @Stateofblocks
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The more hate I get in my comments about a coin I like, the stronger my conviction
Has worked out so well so far for UNI / ENA / NEAR / ZEC
Was on a call recently and we chatted about this - consensus in crypto is quite a scary thing as there is no marginal bid outside of our circle esp once everyone is aligned. V different from TradFi land where there is a perpetual marginal buyer from passive flows like 401Ks, mutual funds, pension funds etc. so even tho the asset has reached “investable consensus” there’s still the next buyer
Crypto on the other hand… if you actually think back to a time when a trade became consensus, VERY OFTEN the local top came in shortly after and then a corrective wave came. Ofc the strong ones eventually goes on and make new highs - one good example for this is HYPE on every consensus that PERPS is the future and hype is the cleanest expression of that trade. It is, but it’s consensus, and outside of our circle there’s not much marginal bid (which will change in time ofc as the asset matures)
That’s why I like the non-consensus trades NOW because of where we are at in the current cycle. Any uptick in risk appetite and we get a reprice in valuations off the back of BTC/ETH/SOL beta + maybe some premium in uptick on fundamentals
Getting exposure to risk now > later, so i can focus on cutting instead of adding risk. Anw long winded way of saying consensus in crypto is not always a good thing
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that1618guy retweeted
On paper, 71% of robinhood:0x07ebb29a38fbcb41563817e5e19f2cec619c90d2 in 3 wallets looks like a rug. It's actually market makers that can never leave.
Great breakdown from @that1618guy 👇
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RH eco round 2 coming up shortly. If you’ve wandered away, now’s probably a good time to come back
Thank you for your attention to this matter
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Why I’m bullish @justinbebis and his vision on how we can innovate the trenches, and how $BUN sits in the middle of all this 👇🏼
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There are still many plays rn that can be frontran with wider stops that will have fundamentals look better with price going up
Not saying that they’ll run the same way as NEAR, but very easily tradable for a mean reversion swing
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FWIW retail is here and they're here via FOMO
have had many more friends over the past few weeks reach out and actually downloaded the fomo app and are now actively trading memecoins
and thus their beautiful journey w crypto begins
Retail is skipping Bitcoin this cycle and going straight onchain
@that1618guy says people he never expected to get into crypto are buying tokens on @fomo without even knowing what chain they're on
"The funny thing is this cycle, perhaps it starts from onchain. Usually it always starts from Bitcoin"
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the cockroaches that cant die and somehow get "stronger" each cycle = bullish?
if these tokens havent perished by now and still didnt make new cycle macro lows...
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that1618guy retweeted
do you realize how insane this is lol
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.@Uniswap settled 140 million trades in August, more than Cboe BZX and NYSE American combined.
NYSE American has been around since 1908. Uniswap launched in 2018.
Five years ago it was ~2 million trades a month.
Next rung up: NYSE Arca, at 232 million.
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MOVE index ripping through 104…
Historically they don’t let this run too far before stepping in. Intervention looking more likely by the day unless they’re prepared to let this rip much higher
War ending soon?
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