remember this: https://news.1rj.ru/str/cryptomumbles/15079

and the post will kinda make sense

we've been here for years and we're already jaded

but for those that left or have never deeply explored eth, its like that magical moment of discovery

is this it?

https://news.1rj.ru/str/cryptomumbles/9454

happy national day to those that celebrate! 🇸🇬

have a good weekend

ETHENA'S USDE BECOMES THE SECOND-FASTEST $10B STABLECOIN AFTER TERRA'S UST, SUPPLY SURGES 90% IN 30 DAYS

The concept of levered ETH beta is something degens will always come back to as long as the underlying is trending.

Over time, the market has favored different names. However these names all share the same flaw, that results in them being subpar at what they’re meant to be - ‘beta’.

The definition of beta implies that whenever the underlying asset moves, the beta asset moves with a correlation >1. For every other alt out there, this requires flows from ETH to that alt.

This has historically worked in the past where asset selection was constrained. However in today’s market, one can be easily confused by the plethora of options attempting to be the ETH beta of choice.

One type of asset that is still relatively under the radar though are NFTs. They are unique in the sense that their prices are denominated in ETH, and thus does not need the market to sell down ETH in the pursuit of this different asset. You can literally do nothing and enjoy ETH’s performance even if speculation on the specific NFT is non-existent.

My suspicion is this will soon change as ETH approaches all-time highs and the market realizes it’s simply easier to speculate on NFTs vs chasing specific ETH beta coins. This happened in 2021 and I don’t see any reason why they won’t come back.

To me right now there are only two collections worth speculating on:
1. Punks
2. Pudgys

I’ve never been a successful NFT trader so it will be interesting to see if my hypothesis will simply just remain that, or is there a setup here in the making?

mercenary as it has always been

https://x.com/adam_tehc/status/1954127129928720842?s=46&t=

i guess a large part of ptsd this cycle stems from every alt szn call so far failing

i can see why most are quick to call top and tp

during q4 ‘23 ‘24, most were expecting retail to come in and send it like 2021, but that never happened at all

not forgetting all the short windows of “alt szn” in between

it’s like the fleas in a jar experiment

we’ve taken too many beatings at a certain cap and now we’re afraid to dream again

will it be different this time?

We're reaching price levels on $ETH where the drawdown risk is too large to feel comfy on any dip

And the upside is unclear to me, we could go to $4.5k, $6k, or more, I personally don't have conviction on price targets

I'll mostly react on what signs I get from the tradfi side (ETH tco + ETFs) as they are the ones determining our fate

According to crypto reporter Eleanor Terrett, White House Crypto Council Executive Director Bo Hines will step down to return to the private sector and will continue as a special government employee to assist David Sacks with AI initiatives. His deputy, Patrick Witt, is expected to assume the role of Executive Director. — link

we need skepticism and non consensus

https://x.com/fundstrat/status/1954295790492426532?s=46&t=nluSw7cwYGx8zFxfoYi5Iw

Base recently marked its second anniversary. According to onbase data, over the past year, Base recorded 1.256 million active users (+1,280.6% YoY), 9.869 million total transactions (+2,049.6%), and nearly $4.5 billion in TVL. Meanwhile, network transaction fees dropped by 97.7% compared to the previous year. — link