gm

in june 2021 lido was $2.60, a $60M cap

today lido is $2.60, a $2B cap

the token doesn't rebase, there is no staking, and holders never got rev share

despite growing from nothing to over $30bn of staked eth, buyers made no money

the fdv matters

This is a good time for Hayden to admit that Ric Burton invented it

I, for one, am grateful for the sophisticated market participants that keep hedging their locked tokens

>lets us long the best performing coins without paying exorbitant funding rates
>keep fueling the rallies as their hedge is blown up

If you're having a bad day, here's some otters on a water slide to make your day better..

Last few weeks have been relatively calm from my perspective

Are you ready for chaos?

intern Keone Hon (evm/acc) James Eunice | Monad tunez (evm/acc) 🎮 have begun parallelizing everything in my life

eigen going live and monad announcing their raise within a few hrs of each other

we've exhausted all narratives for the rest of the year

feels like market gotten more efficient such that whenever gbtc is selling the entire market widens for them to be done with their affairs instead of blindly absorbing

gmonad 🟪

huge congrats to Keone Hon (evm/acc) James Eunice | Monad tunez (evm/acc) 🎮 and intern

(my biggest fumble was probably forgetting to reply to keone when he reached out in 2022 to discuss monad.

grateful to have the opportunity to rectify that mistake.)

gm

'wolf is this the fated last cycle?'

idk, I doubt it

though if you do trade it as such, trying to extract every ounce of value with giga high leverage, trying to be omnipresent catching every micro rotation, it might be your last cycle if not the markets

the VCs whinging about the explosion of interest in memecoins are directly responsible for it

with their incessant predatory tokenomics low float high fdv shenanigans

they bit the hand that fed them, now the same hand has dropped them off at the shelter, and taken in a more…

gm fellow unsophisticated market participants

memecoins volume dominance will simply continue rising until

some meme backed modular intent centric parallel zkevm restaking^2 enshrined appchain rollup L3 with AI DA layer raises a massive pre seed round

CT avoid making statements about permanent changes in market dynamics based on a few months of activity challenge [impossible]

This one's on top, then that one's on top, and on and on, the wheel simply continues spinning.

gigabear🧸 blockgraze best trader I know once said

gm

I love the smell of ATHs in the morning

put on the hat a month ago

when most people had already printed and were talking about shorting the nance listings

about to hit a 10x with 0 mins spent underwater

🫡

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