Liability-based theory of value.

Established niche crypto influencers,

who are among the very few who put a long hours building up their reputation through the bear market,

(in theory frauds could do this too, but for whatever reason they don’t, frauds dissapear in bear markets)

even if still with tiny follower counts,

Doing a rare and substantial staking of their reputation on something,

(Would be worthlessly diluted if they do it all the time)

risking all those hours having gone to waste, should it fail.

Liability theory of value.

Second, notice how he says that if you moon this coin, you make him rich.

A whale betting big on this coin is an act of making this guy, and those who align with him, the next thought leaders of the industry.

Mooning-as-election of thought leaders theory of value.

(All value types are generally additive, roughly speaking.)

FWIW, using

“sus” as shorthand for

→

“that’s weird” as shorthand for

→

“this is so unusual that it’s likely either a huge win or huge scam, so better drop everything I’m doing and dig to get to the bottom of what’s happening asap, to see if we can figure out which one it is”

I.e. not a statement of confidence in goodness or badness, rather a call to action, to figure out what tf is going on, try to gather what’s needed to get that confidence

More spying and censorship coming to telegram

Signal’s statement on EU laws which would greatly accelerate mass censorship and spying

Social supercycle

(Though still would say that it’s all about the size of the liability the influencer takes on, whatever form that may be, and not so much about the size of their follower count.)

“PirateWires REPORTS THAT realDonaldTrump IS LAUNCHING A COIN ON SOLANA - UNCLEAR WHETHER ACCOUNT IS COMPROMISED”

Sudden giant ~$1M buy on $BILLY, creating a huge spike

They weren’t kidding that there’s some one, or multiple people, with big money that are up to something here.

As has been found in papers before,

Sudden huge crypto buy orders are strongly associated with prices surging

Quite effective at making coins pump

And that’s what we see,

Immediately after that god candle, the price starts pumping up again…

Big $400K buys being thrown around.

No idea if that’s great or terrible.

The classic studies would suggest great.

(Who knows)

Big SOL drop…

SOL MVRV was obviously likely gigantic

Unfortunately zero charts out there charting this, afaik

(Kicked off our parallel effort to create a bunch of these useful charts this morning)