0/ We're bullish PUMP as the TGE is cheap & the trenches are a permanent state of affairs. But Pumpfun's dominance is being challenged. Below we explain why Pump has the levers to defend its market position.

Crypto is in this historically odd moment for a technology market where you want to be almost universally long incumbents

Repeat after me M E M E C O I N S

ICOing on a saturday is so Internet Capital Markets

Me included. Now I’m prediction market pilled.

Phantom Chooses Hyperliquid for Perps | 0xResearch x.com/i/broadcasts/1…

1/ pump.fun will perform its TGE tomorrow. The application has generated $784M in cumulative revenue. Let's review the data on this top earning application. 🧵

0xresearch x Phantom defi_kay_ did it again

First instance of Solana outperforming CEXs in a meaningful way Probably more to come

This sale was another positive notch for Solana over CEXs. Hearing/seeing that many struggled to even press buttons on CEXs, while the sale processed multiples more volume on Solana.

Really feels like a fork in the road

Most high profile ICO and CEXs completely drop the ball while Solana hums along with no issues Token issuers and buyers likely won’t forget this We may look back on this as a fork in the road

The idea the PUMP ICO will mark the top in memecoining misses the fact that Memecoin & gambling funds are sourced from a completely different pool of capital than that earmarked for proper investment The ~$50-1000 someone gambles *per paycheck* is untapped by the PUMP ICO

Who can do an onchain source of proceeds analysis? Want to know what was sold to participate in PUMP

The largest bucket of PUMP participants was in the $100-$1k range. Pretty clean lognormal distribution

The median amount of PUMP purchased by each wallet was around $530. With the current prices on Hyperliquid, that means a median gain of $319 (59%) so far per wallet S/o to Sharples 🟪 🐐

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