ah well.. another one played out almost exactly the same.. $PUMP is now 120%+ off that base imo start scanning alts showing this exact pattern.. the ones that fully retrace their 10/10 wick and then form a proper base around the same level have been surprisingly consistent at giving a quick 2x from there. there are so many examples by now.. just pull up $HYPE, $AERO, $JTO charts and you’ll see pretty much the same thing. probably still a few more sitting there.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

ah well.. another one played out almost exactly the same.. $PUMP is now 120%+ off that base imo start scanning alts showing this exact pattern.. the ones that fully retrace their 10/10 wick and then form a proper base around the same level have been surprisingly consistent at giving a quick 2x from there. there are so many examples by now.. just pull up $HYPE, $AERO, $JTO charts and you’ll see pretty much the same thing. probably still a few more sitting there.

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

The biggest Opportunities in AI x crypto right now: 1) build the spend layer for agents (they're getting budgets and cards, and stablecoins already settle at machine speed.. what's missing is limits, receipts and a kill switch a human can hit) 2) build reputation for agents (an agent hiring another agent has no way to check if it ever delivered before, and a public track record is the one thing crypto is actually good at) 3) build escrow and dispute resolution between machines (money moving between two agents with no counterparty trust is the exact problem smart contracts were invented for) 4) build key management for agents (an agent holding a private key is a brand new security category and right now the answer is a .env file and hope) 5) build onchain data for agents, not humans (almost every crypto data tool assumes a person staring at a dashboard.. agents want clean endpoints, not charts) 6) build proof of human (deepfakes broke trust for marketplaces, dating apps and airdrops, and crypto has spent years on sybil resistance while losing on UX every time) 7) build the judgment layer (infinite AI output means the bottleneck moved from making things to choosing between them, and in crypto that's filtering a thousand launches a day down to the five worth reading) 8) build AI trade review (backtesting is solved, reviewing your own losses is not, and that's the part that actually changes a trader) 9) build for dead protocols with live users (thousands of abandoned frontends still holding real deposits, an agent can maintain what a team couldn't afford to) 10) build for markets too small to have been worth it (a tool for 500 specific people was never worth hiring for, now it's a weekend) 11) build to be the cited answer (people ask a model before they ask google, and most projects have no idea their docs are now the entire funnel) 12) build outcome pricing (per-seat makes no sense when the seat is an agent, and whoever gets billing per result right takes a whole category) 13) build onboarding for the ones still on ChatGPT and nothing else (this is most of the market, not the tail of it) 14) build for the analyst whose job just changed (research roles are getting rewritten fastest and the reskilling gap is wide open) 15) build the human premium (as feeds fill with generated everything, human-made research and curation starts pricing like a luxury good) 16) build audience first (anyone can ship the product now, so distribution is the only moat left.. media company first, product second) pick one and go.

Name & Symbol: Degen ($DEGEN)
Address: 0x4ed4e862860bed51a9570b96d89af5e1b0efefed

$PUMP might be one of the most mispriced large cap tokens rn And no, the argument is not simply “buybacks mean price must go up.” Buybacks cannot overpower collapsing demand, a bad entry valuation or heavy supply overnight. That is exactly why PUMP could fall despite the buyback chart going straight up. But the current valuation is where the maths starts becoming difficult to ignore. Pump is valued at roughly an $800M circ. mcap and $1.7B post-burn FDV. Over the last 30 days, the business generated: - $74.3M in user fees
- $28M in retained revenue
- $13.3M in token buybacks
- $19.4B in PumpSwap volume That $28M monthly revenue annualizes to roughly $336M So PUMP currently trades at approx: - 2.4x annualized revenue on mcap
- 5.1x annualized revenue on FDV For one of the highest-revenue consumer applications in crypto, that is genuinely cheap, assuming the revenue is durable. Hyperliquid comparison makes the valuation gap even clearer. Over the last 30 days: Hyperliquid revenue: $43.1M
Pump revenue: $28M So Hyperliquid currently generates only around 1.5x Pump’s revenue. But HYPE’s market cap is approximately $14B versus roughly $800M for PUMP, a difference of more than 17x. Based on the same 30-day annualized revenue: HYPE trades around 27x revenue
PUMP trades around 2.4x revenue yes Pump does not deserve the same multiple as Hyperliquid today. HYPE has stronger growth, cleaner value accrual and a far more trusted market. But a greater than 10x difference in revenue multiples still leaves plenty of room for PUMP to rerate without receiving anything close to HYPE’s valuation. The lifetime numbers are even more interesting. Pump has generated approximately $1.2B in cumulative retained revenue, which is around 1.5x the token’s entire current mcap Its official dashboard shows $410.8M spent buying and burning PUMP. Around 151.8B tokens have now been permanently removed, equal to 15.18% of the original 1T supply. That burned amount is equivalent to roughly 38% of today’s circulating supply. Now look at the current supply flow. Pump bought back approximately $13.3M over the last 30 days. The next monthly team and investor unlock is 6.875B PUMP, currently worth around $13.9M. So at today’s price and revenue, buybacks are already absorbing roughly the same dollar value and approximately the same number of tokens as the monthly insider unlock. That does not remove the dilution risk because insiders can sell while buybacks may change later. But it means the current supply entering the market is no longer massively larger than the protocol’s recurring demand. This is where a memecoin recovery changes the setup. Current Pump revenue is being generated far below peak memecoin activity. If revenue doubles while the token stays near this valuation, buybacks begin comfortably outpacing monthly insider unlocks. More launches lead to more bonding-curve activity, more PumpSwap volume, more terminal activity, more revenue and therefore larger automatic burns. Instead of trying to choose the one memecoin that survives, PUMP gives exposure to the platform monetizing nearly everyone trying to find it. So the thesis is not that PUMP is obviously worth 10x more.. It is that the market currently values a business producing around $336M in annualized revenue, with $1.2B in lifetime revenue and $410M already used for buybacks, at only an $800M market cap. The buybacks did not prevent the initial collapse because sell pressure and declining demand were larger. But at this lower valuation, every dollar of revenue buys significantly more supply than before. and if the casino gets busy again, there are very few tokens where growing activity translates into this much direct buying pressure relative to market cap. That is why I think $PUMP is genuinely undervalued here.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

$PUMP might be one of the most mispriced large cap tokens rn And no, the argument is not simply “buybacks mean price must go up.” Buybacks cannot overpower collapsing demand, a bad entry valuation or heavy supply overnight. That is exactly why PUMP could fall despite the buyback chart going straight up. But the current valuation is where the maths starts becoming difficult to ignore. Pump is valued at roughly an $800M circ. mcap and $1.7B post-burn FDV. Over the last 30 days, the business generated: - $74.3M in user fees
- $28M in retained revenue
- $13.3M in token buybacks
- $19.4B in PumpSwap volume That $28M monthly revenue annualizes to roughly $336M So PUMP currently trades at approx: - 2.4x annualized revenue on mcap
- 5.1x annualized revenue on FDV For one of the highest-revenue consumer applications in crypto, that is genuinely cheap, assuming the revenue is durable. Hyperliquid comparison makes the valuation gap even clearer. Over the last 30 days: Hyperliquid revenue: $43.1M
Pump revenue: $28M So Hyperliquid currently generates only around 1.5x Pump’s revenue. But HYPE’s market cap is approximately $14B versus roughly $800M for PUMP, a difference of more than 17x. Based on the same 30-day annualized revenue: HYPE trades around 27x revenue
PUMP trades around 2.4x revenue yes Pump does not deserve the same multiple as Hyperliquid today. HYPE has stronger growth, cleaner value accrual and a far more trusted market. But a greater than 10x difference in revenue multiples still leaves plenty of room for PUMP to rerate without receiving anything close to HYPE’s valuation. The lifetime numbers are even more interesting. Pump has generated approximately $1.2B in cumulative retained revenue, which is around 1.5x the token’s entire current mcap Its official dashboard shows $410.8M spent buying and burning PUMP. Around 151.8B tokens have now been permanently removed, equal to 15.18% of the original 1T supply. That burned amount is equivalent to roughly 38% of today’s circulating supply. Now look at the current supply flow. Pump bought back approximately $13.3M over the last 30 days. The next monthly team and investor unlock is 6.875B PUMP, currently worth around $13.9M. So at today’s price and revenue, buybacks are already absorbing roughly the same dollar value and approximately the same number of tokens as the monthly insider unlock. That does not remove the dilution risk because insiders can sell while buybacks may change later. But it means the current supply entering the market is no longer massively larger than the protocol’s recurring demand. This is where a memecoin recovery changes the setup. Current Pump revenue is being generated far below peak memecoin activity. If revenue doubles while the token stays near this valuation, buybacks begin comfortably outpacing monthly insider unlocks. More launches lead to more bonding-curve activity, more PumpSwap volume, more terminal activity, more revenue and therefore larger automatic burns. Instead of trying to choose the one memecoin that survives, PUMP gives exposure to the platform monetizing nearly everyone trying to find it. So the thesis is not that PUMP is obviously worth 10x more.. It is that the market currently values a business producing around $336M in annualized revenue, with $1.2B in lifetime revenue and $410M already used for buybacks, at only an $800M market cap. The buybacks did not prevent the initial collapse because sell pressure and declining demand were larger. But at this lower valuation, every dollar of revenue buys significantly more supply than before. and if the casino gets busy again, there are very few tokens where growing activity translates into this much direct buying pressure relative to market cap. That is why I think $PUMP is genuinely undervalued here.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

$PUMP looks like another one following the same pattern the cleanest R:R trades so far have come from coins that retraced back to their 10/10 wick low, held that level & formed a solid HTF base around it $PUMP has now done exactly that and is starting to move away from the base https://t.co/VwaeZfbq8d

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

This is the part of the $PUMP thesis by @Pentosh1 people are underestimating. Pump has already spent around $410M on buybacks and permanently burned 151.1B PUMP, more than 15% of the original supply. At the current pace, it is buying roughly $400K per day. Another 3-6 months would mean around $37M-$74M of additional buying, assuming revenue remains stable. The most important maths: Monthly buybacks: around $12.85M Monthly team + investor unlocks: around $12M So buybacks are currently absorbing roughly the same dollar value as insider unlocks. If revenue falls, unlocks become the stronger force. But if memecoin activity returns and revenue doubles, buybacks begin meaningfully outpacing new supply. Pump generated around $27M in revenue from $19.4B of volume over the last 30 days, and has generated roughly $1.2B in lifetime revenue against an $800M market cap. Buybacks will not pump the price overnight, and higher prices will always create new sellers. But a consistent $400K daily buyer slowly changes the supply-demand balance, especially when every token purchased is permanently burned. If memecoins return, $PUMP gives exposure to the entire increase in launches, trading and Solana activity without needing to pick the individual winner. That is why I see it as one of the cleanest bets on another memecoin cycle.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

My current market read and the coins I am interested in right now: BTC dominance is still around 56.4%, ETH controls less than 10% of the market, and stablecoins now hold over $305B, around 13.4% of the entire crypto mcap That tells me liquidity is still defensive and highly selective. So im not interested in buying every altcoin just because it is down 80% Most alts can remain cheap forever because they have no users, revenue, value accrual or reason for demand to return I am mainly looking for assets where the fundamentals are measurable and there is a clear catalyst for repricing. rn, those are: $ETH $LIT $AAVE $PUMP $ETH is the core position. Not because Ethereum has DeFi and smart contracts. It had those things years ago and still heavily underperformed Bitcoin. What’s different now is the valuation and supply structure. ETH/BTC is around 0.029, while roughly 40.6M ETH, or 33% of the entire supply, is now staked ETH also currently holds: $149.7B in stablecoins $40.6B in DeFi TVL $14.9B in active RWAs $1.06B in daily DEX volume 2.84M daily txns So the network’s financial economy remains massive while ETH’s share of the total crypto market has fallen below 10%. The risk is that eth can continue hosting all this activity without enough value flowing back to ETH Mainnet fees and burns are still weak, and L2s have made transactions extremely cheap But imo, that weakness is already well understood. The upside comes if stablecoins, RWAs, DeFi and institutional activity continue growing while ETH/BTC simply starts closing part of the gap. $LIT is the higher-risk perp DEX bet. Lighter currently has: $38.9B in 30-day perp volume $866M in open interest $514M in TVL $2.24M in 30-day revenue $54M in cumulative revenue $1.71T in total perp volume Yet $LIT’s market cap is only around $647M The thing is, Lighter does not need to replace Hyperliquid for $LIT to work. It needs to maintain its position as a major perp venue, improve monetisation and continue using protocol revenue to buy back LIT. Around $2.17M went towards LIT holders through buybacks over the last 30 days, with cumulative holder revenue now above $22.5M $AAVE is probably the cleanest quality DeFi bet here Aave currently has: $14.1B in TVL $10.6B in active loans $29.2M in 30-day fees $3.88M in 30-day protocol revenue $91.6M in its treasury Against a market cap of only around $1.35B That means Aave secures more than 10x its own mcap in deposits and has almost 8x its market cap actively borrowed. Unlike most newer tokens, the dilution risk is also much lower because AAVE’s market cap and FDV are already close at $1.35B and $1.43B If ETH, stablecoins and onchain borrowing recover, Aave benefits directly without needing to invent a new business model $PUMP is the most speculative position. Pump is currently valued at around $651M with a $1.38B FDV But the business generated: $73.9M in fees over 30 days $28.1M in revenue roughly $13M in holder revenue and buybacks $19.5B in PumpSwap volume It has already generated around $1.2B in cumulative protocol revenue The $PUMP thesis is simple. Instead of trying to pick which random memecoin becomes the next 100x, own exposure to the platform earning from the entire cycle. If memecoin activity returns, Pump benefits from more launches, more trading, more graduations, more PumpSwap volume and larger PUMP buybacks. But $PUMP is completely dependent on speculative activity. If memecoin volume continues declining, the apparently cheap revenue multiple will not matter. There is also a large difference between its Mcap and FDV, so unlocks and future supply cannot be ignored This is high risk, but the upside becomes interesting if the memecoin casino gets busy again. So my positioning is basically: 👇

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

What if memecoins properly return and they really make a comeback ? I think $pump could be the best bet to make gains instead of trading random memecoins in the search of next 2-5-10-100x gains The basic thesis is simple.. Instead of trying to pick the one player who wins at the casino, you own exposure to the platform earning from almost everyone who enters. And when I looked into the actual numbers, @Pumpfun is already a much bigger and more profitable business than its current valuation suggests.. $PUMP is trading around $0.00146 with a market cap of roughly $586M and an FDV of around $1.24B The token is still down about 83.5% from its ATH of $0.0088 and roughly 64% below the $0.004 public-sale price So despite Pump becoming one of the highest-earning crypto applications, the token has basically been destroyed since launch. Now compare that valuation with the actual business. Over the last 30 days, users paid around $73.9M in fees across Pump’s launchpad, PumpSwap and trading terminal. Pump retained around $28.1M as protocol revenue, while approximately $10.5M was directed towards PUMP holders through buybacks. PumpSwap itself processed around $19.5B in volume during the same period. And since launch, Pump has generated approximately $1.85B in total fees, $1.2B in retained protocol revenue and $308.7M in cumulative token buybacks. Just think about that for a second. The company has already generated more than twice the token’s current market cap in cumulative revenue. Even using only the latest 30-day revenue of $28.1M, Pump is currently running at roughly $337M in annualised revenue. That puts $PUMP at around 1.7x annualised revenue based on circulating market cap and roughly 3.7x based on FDV. Those are obviously not guaranteed forward numbers, but for one of the most recognisable consumer applications in crypto, the current valuation is not expensive if the business can even maintain its present activity. And this is where the memecoin thesis becomes interesting. 18.67M tokens launched through https://t.co/yMVGHC5Q8D between January 2024 and June 2026. Around 68.7% stopped trading on the same day they launched. More than 80% stopped trading within two days. Only 4.55% remained active for longer than 90 days. 832,941 @PumpfunEco launches between May 8 and June 10, 2026. Only 0.198% graduated within 24 hours. That works out to roughly 1 successful graduation for every 500 launches, and the graduation rate is now around 3.2x lower than the 0.63% recorded during September and October 2025. Normally, those numbers would sound extremely bearish. But for Pump, I think they actually explain the thesis. Almost everyone launching or buying these coins will fail to find the next $FARTCOIN, PNUT, MOODENG or GOAT. Pump does not need to know which one wins. It earns when the token is launched, when people trade on the bonding curve, when it graduates, when it trades on PumpSwap and when users trade through its terminal. Thousands of coins can die while the platform still earns from all the activity that happened before they died. That is why $PUMP is potentially a much cleaner memecoin bet than trying to build a portfolio of individual memes. Pump is already supporting roughly 92,000 daily active users, 305,000 weekly users and around 700,000 monthly users. PumpSwap has processed approximately $414M over the last 24 hours, $4.07B over seven days, $19.49B over 30 days and almost $332B cumulatively. The platform also has around $232M in TVL today. More importantly, Pump is no longer just a basic page where anyone can launch a coin. It now controls the launchpad, the bonding curve, the native PumpSwap exchange and its own trading terminal. So instead of sending graduated tokens and their volume to another exchange, Pump can keep more of the entire lifecycle inside its own ecosystem. Creators are becoming another important part of that loop. During Q1 2026, creators earned around $133.6M through tracked https://t.co/yMVGHC5Q8D and PumpSwap creator fees. They earned another $85.7M in Q2. That means more than $219M was paid to creators during the first half of 2026 alone. This gives creators a direct financial reason to keep launching, building communities and bringing users back to the platform. The Pump ecosystem itself is already worth around $1.67B, excluding PUMP. Together, Pump ecosystem tokens are still generating close to $200M in daily trading volume even during a much weaker memecoin environment. So if memecoin activity returns, Pump can benefit from several things happening together. - More people will launch tokens. - More traders will enter bonding curves. - More coins will graduate. - PumpSwap volume should increase. - Creators should earn more. - Terminal activity should rise. - Protocol revenue should increase. And because part of that revenue is used to buy and burn $PUMP, the token can directly benefit from the higher activity. That last part is what separates $PUMP from many other exchange or ecosystem tokens. DeFiLlama currently tracks around $10.5M of holder revenue over the last 30 days and $308.7M cumulatively. If the latest 30-day pace continued for a year, it would equal roughly $126M in annual buybacks. Against a market cap of approximately $586M, that represents a gross annualised buyback yield of more than 21%. Of course, that is not a dividend and there is no guarantee the current revenue continues. Memecoin volume can disappear quickly, the buyback policy can eventually change and tokens being bought back does not automatically mean the price goes up. But the current maths is still difficult to ignore. Pump is producing real revenue, part of that revenue creates direct demand for $PUMP, and repurchased tokens are being removed from the supply. This is probably the strongest part of the thesis for me. The platform does not need to create a new business model to give the token value. It mainly needs to keep doing what it already does and increase activity. But the current trend is not perfect. Pump generated around $122.2M in retained revenue during Q1 2026, before falling to $91.6M in Q2. That is a decline of roughly 25%. The current 30-day revenue of $28.1M is also around 31% below Q1’s average monthly revenue and about 8% below Q2’s monthly average. PumpSwap’s latest daily volume of $414M is around 36% below its 30-day daily average of roughly $650M. So this is not a thesis that memecoin activity is already returning strongly. Right now, it is a bet that activity eventually returns. The good thing is that Pump has already survived one serious launchpad war. Its share of Solana’s graduated-token market reportedly fell as low as 5% in August 2025, while a competitor bonkfun briefly controlled more than 80% Within roughly two weeks, Pump recovered to around 90% market share while bonk fell to approximately 3%. That shows two things. First, Pump’s moat is not permanent. Token-launch technology can be copied and users can move quickly when another platform offers better incentives. But it also shows how powerful Pump’s distribution, brand, liquidity and existing creator network can be. The moat is not the bonding curve itself. The moat is that traders already expect the next major Solana memecoin to appear there, which attracts creators, and those creators attract more traders. Still, the biggest risk to $PUMP is clearly the supply. The nominal maximum supply is 1T tokens, while around 401.5B are currently circulating. on CoinGecko a total supply of approximately 849.7B after the tokens already removed from supply. The original allocation gave 33% to the ICO, 24% to community and ecosystem initiatives, 20% to the team, 13% to existing investors, 3% to livestreaming, 2.6% to liquidity and exchanges, 2.4% to the ecosystem fund and 2% to the foundation. So there is still a meaningful amount of team, investor and ecosystem supply outside the circulating market. The first major insider cliff has already happened. The next scheduled unlock is on August 12, when approximately 4.17B team tokens and 2.71B investor tokens will unlock. Combined, that is 6.875B PUMP, currently worth around $10M and equal to roughly 1.7% of the circulating float. Similar monthly unlocks are expected to continue under the current vesting schedule. This creates a very interesting piece of maths. Pump bought back approximately $10.5M of PUMP during the last 30 days. The next monthly team and investor unlock is currently worth approximately $10M. So at the current token price and revenue level, monthly buybacks are roughly equal to the dollar value of monthly insider unlocks. That sounds balanced, but the margin is extremely thin. If protocol revenue falls, buybacks will no longer match unlocks. And if the price of PUMP rises while revenue stays flat, the dollar value of each token unlock rises while the amount of money available for buybacks does not. Also, unlocked tokens are not guaranteed to be sold, just as buybacks are not guaranteed to create permanent price support. But the comparison tells us exactly what needs to improve. Pump needs revenue and buybacks to grow faster than the value of the new supply entering the market. The other major risk is that the platform is still completely dependent on speculative attention. Pump can launch millions of tokens, but that does not mean the market is healthy. When more than 80% of coins stop trading within two days and only around 0.2% graduate, users can eventually become tired of repeatedly losing money. If traders stop believing that the next launch can become a major winner, token creation alone will not be enough to maintain volume. There are also market-quality, legal and operational risks. Pump suffered a $2M private-key compromise in May 2024, and recent research identified 1,012 persistent groups of wallets repeatedly appearing among the earliest buyers across multiple launches. That study did not prove those wallets caused the higher activity around the affected tokens, but it does show how coordinated and difficult this market can be for normal traders. So I would not call $PUMP a safe or obvious investment. The token is down more than 80% from its high for real reasons. Current activity is below peak levels. Revenue declined from Q1 to Q2. The graduation rate is extremely low. Competition can appear quickly. And the token still has significant unlocks ahead. But at the same time, it is difficult to find many crypto applications with approximately $1.2B in cumulative revenue, $1.85B in cumulative fees, $332B in DEX volume, around 700,000 monthly active users and more than $308M already directed towards token buybacks, while the token itself trades below a $600M market cap. This is why I think the risk:reward becomes interesting if you believe memecoins will eventually have another major cycle. best thing is Pump does not need every coin to succeed. It does not even need most coins to survive for more than a day. It just needs people to keep believing they can find or create the next winner. If PumpSwap volume returns above $1B per day, monthly revenue moves back towards $50M, creators continue earning, market share remains strong and half of that growing activity continues flowing into token buybacks and burns, the current valuation could start looking very cheap. At $50M in monthly revenue, Pump would be producing $600M annually, roughly equal to the token’s entire current market cap. And if buybacks scaled alongside that activity, the protocol could be buying a meaningful percentage of the circulating market every year. That is the bull case. The bear case is also straightforward. Memecoin activity never properly returns, monthly PumpSwap volume falls below $10B, retained revenue drops below $15M, users and creators move to another platform, and monthly unlocks become consistently larger than buybacks. In that scenario, the current low valuation would not be an opportunity. It would simply reflect a declining business with heavy dilution. So the numbers I am watching from here are PumpSwap volume, daily and monthly active users, protocol revenue, creator earnings, graduation rate, launchpad market share, monthly buybacks and how the market absorbs each new unlock. Back to the main question. If memecoins return, is $PUMP the clearest way to benefit from the entire cycle rather than trying to pick individual winners? I think it probably is. Not because every Pump coin will win. The data shows almost all of them will fail. But while millions of traders compete to find the few coins that survive, Pump keeps earning from the entire process. $PUMP is basically a bet that the casino gets busy again. And instead of guessing who leaves the casino rich, you own exposure to the platform collecting fees from nearly everyone who plays.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

What if memecoins properly return and they really make a comeback ? I think $pump could be the best bet to make gains instead of trading random memecoins in the search of next 2-5-10-100x gains The basic thesis is simple.. Instead of trying to pick the one player who wins at the casino, you own exposure to the platform earning from almost everyone who enters. And when I looked into the actual numbers, @Pumpfun is already a much bigger and more profitable business than its current valuation suggests.. $PUMP is trading around $0.00146 with a market cap of roughly $586M and an FDV of around $1.24B The token is still down about 83.5% from its ATH of $0.0088 and roughly 64% below the $0.004 public-sale price So despite Pump becoming one of the highest-earning crypto applications, the token has basically been destroyed since launch. Now compare that valuation with the actual business. Over the last 30 days, users paid around $73.9M in fees across Pump’s launchpad, PumpSwap and trading terminal. Pump retained around $28.1M as protocol revenue, while approximately $10.5M was directed towards PUMP holders through buybacks. PumpSwap itself processed around $19.5B in volume during the same period. And since launch, Pump has generated approximately $1.85B in total fees, $1.2B in retained protocol revenue and $308.7M in cumulative token buybacks. Just think about that for a second. The company has already generated more than twice the token’s current market cap in cumulative revenue. Even using only the latest 30-day revenue of $28.1M, Pump is currently running at roughly $337M in annualised revenue. That puts $PUMP at around 1.7x annualised revenue based on circulating market cap and roughly 3.7x based on FDV. Those are obviously not guaranteed forward numbers, but for one of the most recognisable consumer applications in crypto, the current valuation is not expensive if the business can even maintain its present activity. And this is where the memecoin thesis becomes interesting. 18.67M tokens launched through https://t.co/yMVGHC5Q8D between January 2024 and June 2026. Around 68.7% stopped trading on the same day they launched. More than 80% stopped trading within two days. Only 4.55% remained active for longer than 90 days. 832,941 @PumpfunEco launches between May 8 and June 10, 2026. Only 0.198% graduated within 24 hours. That works out to roughly 1 successful graduation for every 500 launches, and the graduation rate is now around 3.2x lower than the 0.63% recorded during September and October 2025. Normally, those numbers would sound extremely bearish. But for Pump, I think they actually explain the thesis. Almost everyone launching or buying these coins will fail to find the next $FARTCOIN, PNUT, MOODENG or GOAT. Pump does not need to know which one wins. It earns when the token is launched, when people trade on the bonding curve, when it graduates, when it trades on PumpSwap and when users trade through its terminal. Thousands of coins can die while the platform still earns from all the activity that happened before they died. That is why $PUMP is potentially a much cleaner memecoin bet than trying to build a portfolio of individual memes. Pump is already supporting roughly 92,000 daily active users, 305,000 weekly users and around 700,000 monthly users. PumpSwap has processed approximately $414M over the last 24 hours, $4.07B over seven days, $19.49B over 30 days and almost $332B cumulatively. The platform also has around $232M in TVL today. More importantly, Pump is no longer just a basic page where anyone can launch a coin. It now controls the launchpad, the bonding curve, the native PumpSwap exchange and its own trading terminal. So instead of sending graduated tokens and their volume to another exchange, Pump can keep more of the entire lifecycle inside its own ecosystem. Creators are becoming another important part of that loop. During Q1 2026, creators earned around $133.6M through tracked https://t.co/yMVGHC5Q8D and PumpSwap creator fees. They earned another $85.7M in Q2. That means more than $219M was paid to creators during the first half of 2026 alone. This gives creators a direct financial reason to keep launching, building communities and bringing users back to the platform. The Pump ecosystem itself is already worth around $1.67B, excluding PUMP. Together, Pump ecosystem tokens are still generating close to $200M in daily trading volume even during a much weaker memecoin environment. So if memecoin activity returns, Pump can benefit from several things happening together. - More people will launch tokens. - More traders will enter bonding curves. - More coins will graduate. - PumpSwap volume should increase. - Creators should earn more. - Terminal activity should rise. - Protocol revenue should increase. And because part of that revenue is used to buy and burn $PUMP, the token can directly benefit from the higher activity. That last part is what separates $PUMP from many other exchange or ecosystem tokens. DeFiLlama currently tracks around $10.5M of holder revenue over the last 30 days and $308.7M cumulatively. If the latest 30-day pace continued for a year, it would equal roughly $126M in annual buybacks. Against a market cap of approximately $586M, that represents a gross annualised buyback yield of more than 21%. Of course, that is not a dividend and there is no guarantee the current revenue continues. Memecoin volume can disappear quickly, the buyback policy can eventually change and tokens being bought back does not automatically mean the price goes up. But the current maths is still difficult to ignore. Pump is producing real revenue, part of that revenue creates direct demand for $PUMP, and repurchased tokens are being removed from the supply. This is probably the strongest part of the thesis for me. The platform does not need to create a new business model to give the token value. It mainly needs to keep doing what it already does and increase activity. But the current trend is not perfect. Pump generated around $122.2M in retained revenue during Q1 2026, before falling to $91.6M in Q2. That is a decline of roughly 25%. The current 30-day revenue of $28.1M is also around 31% below Q1’s average monthly revenue and about 8% below Q2’s monthly average. PumpSwap’s latest daily volume of $414M is around 36% below its 30-day daily average of roughly $650M. So this is not a thesis that memecoin activity is already returning strongly. Right now, it is a bet that activity eventually returns. The good thing is that Pump has already survived one serious launchpad war. Its share of Solana’s graduated-token market reportedly fell as low as 5% in August 2025, while a competitor bonkfun briefly controlled more than 80% Within roughly two weeks, Pump recovered to around 90% market share while bonk fell to approximately 3%. That shows two things. First, Pump’s moat is not permanent. Token-launch technology can be copied and users can move quickly when another platform offers better incentives. But it also shows how powerful Pump’s distribution, brand, liquidity and existing creator network can be. The moat is not the bonding curve itself. The moat is that traders already expect the next major Solana memecoin to appear there, which attracts creators, and those creators attract more traders. Still, the biggest risk to $PUMP is clearly the supply. The nominal maximum supply is 1T tokens, while around 401.5B are currently circulating. on CoinGecko a total supply of approximately 849.7B after the tokens already removed from supply. The original allocation gave 33% to the ICO, 24% to community and ecosystem initiatives, 20% to the team, 13% to existing investors, 3% to livestreaming, 2.6% to liquidity and exchanges, 2.4% to the ecosystem fund and 2% to the foundation. So there is still a meaningful amount of team, investor and ecosystem supply outside the circulating market. The first major insider cliff has already happened. The next scheduled unlock is on August 12, when approximately 4.17B team tokens and 2.71B investor tokens will unlock. Combined, that is 6.875B PUMP, currently worth around $10M and equal to roughly 1.7% of the circulating float. Similar monthly unlocks are expected to continue under the current vesting schedule. This creates a very interesting piece of maths. Pump bought back approximately $10.5M of PUMP during the last 30 days. The next monthly team and investor unlock is currently worth approximately $10M. So at the current token price and revenue level, monthly buybacks are roughly equal to the dollar value of monthly insider unlocks. That sounds balanced, but the margin is extremely thin. If protocol revenue falls, buybacks will no longer match unlocks. And if the price of PUMP rises while revenue stays flat, the dollar value of each token unlock rises while the amount of money available for buybacks does not. Also, unlocked tokens are not guaranteed to be sold, just as buybacks are not guaranteed to create permanent price support. But the comparison tells us exactly what needs to improve. Pump needs revenue and buybacks to grow faster than the value of the new supply entering the market. The other major risk is that the platform is still completely dependent on speculative attention. Pump can launch millions of tokens, but that does not mean the market is healthy. When more than 80% of coins stop trading within two days and only around 0.2% graduate, users can eventually become tired of repeatedly losing money. If traders stop believing that the next launch can become a major winner, token creation alone will not be enough to maintain volume. There are also market-quality, legal and operational risks. Pump suffered a $2M private-key compromise in May 2024, and recent research identified 1,012 persistent groups of wallets repeatedly appearing among the earliest buyers across multiple launches. That study did not prove those wallets caused the higher activity around the affected tokens, but it does show how coordinated and difficult this market can be for normal traders. So I would not call $PUMP a safe or obvious investment. The token is down more than 80% from its high for real reasons. Current activity is below peak levels. Revenue declined from Q1 to Q2. The graduation rate is extremely low. Competition can appear quickly. And the token still has significant unlocks ahead. But at the same time, it is difficult to find many crypto applications with approximately $1.2B in cumulative revenue, $1.85B in cumulative fees, $332B in DEX volume, around 700,000 monthly active users and more than $308M already directed towards token buybacks, while the token itself trades below a $600M market cap. This is why I think the risk:reward becomes interesting if you believe memecoins will eventually have another major cycle. best thing is Pump does not need every coin to succeed. It does not even need most coins to survive for more than a day. It just needs people to keep believing they can find or create the next winner. If PumpSwap volume returns above $1B per day, monthly revenue moves back towards $50M, creators continue earning, market share remains strong and half of that growing activity continues flowing into token buybacks and burns, the current valuation could start looking very cheap. At $50M in monthly revenue, Pump would be producing $600M annually, roughly equal to the token’s entire current market cap. And if buybacks scaled alongside that activity, the protocol could be buying a meaningful percentage of the circulating market every year. That is the bull case. The bear case is also straightforward. Memecoin activity never properly returns, monthly PumpSwap volume falls below $10B, retained revenue drops below $15M, users and creators move to another platform, and monthly unlocks become consistently larger than buybacks. In that scenario, the current low valuation would not be an opportunity. It would simply reflect a declining business with heavy dilution. So the numbers I am watching from here are PumpSwap volume, daily and monthly active users, protocol revenue, creator earnings, graduation rate, launchpad market share, monthly buybacks and how the market absorbs each new unlock. Back to the main question. If memecoins return, is $PUMP the clearest way to benefit from the entire cycle rather than trying to pick individual winners? I think it probably is. Not because every Pump coin will win. The data shows almost all of them will fail. But while millions of traders compete to find the few coins that survive, Pump keeps earning from the entire process. $PUMP is basically a bet that the casino gets busy again. And instead of guessing who leaves the casino rich, you own exposure to the platform collecting fees from nearly everyone who plays.

Name & Symbol: Moo Deng ($MOODENG)
Address: ED5nyyWEzpPPiWimP8vYm7sD7TD3LAt3Q3gRTWHzPJBY

What if memecoins properly return and they really make a comeback ? I think $pump could be the best bet to make gains instead of trading random memecoins in the search of next 2-5-10-100x gains The basic thesis is simple.. Instead of trying to pick the one player who wins at the casino, you own exposure to the platform earning from almost everyone who enters. And when I looked into the actual numbers, @Pumpfun is already a much bigger and more profitable business than its current valuation suggests.. $PUMP is trading around $0.00146 with a market cap of roughly $586M and an FDV of around $1.24B The token is still down about 83.5% from its ATH of $0.0088 and roughly 64% below the $0.004 public-sale price So despite Pump becoming one of the highest-earning crypto applications, the token has basically been destroyed since launch. Now compare that valuation with the actual business. Over the last 30 days, users paid around $73.9M in fees across Pump’s launchpad, PumpSwap and trading terminal. Pump retained around $28.1M as protocol revenue, while approximately $10.5M was directed towards PUMP holders through buybacks. PumpSwap itself processed around $19.5B in volume during the same period. And since launch, Pump has generated approximately $1.85B in total fees, $1.2B in retained protocol revenue and $308.7M in cumulative token buybacks. Just think about that for a second. The company has already generated more than twice the token’s current market cap in cumulative revenue. Even using only the latest 30-day revenue of $28.1M, Pump is currently running at roughly $337M in annualised revenue. That puts $PUMP at around 1.7x annualised revenue based on circulating market cap and roughly 3.7x based on FDV. Those are obviously not guaranteed forward numbers, but for one of the most recognisable consumer applications in crypto, the current valuation is not expensive if the business can even maintain its present activity. And this is where the memecoin thesis becomes interesting. 18.67M tokens launched through https://t.co/yMVGHC5Q8D between January 2024 and June 2026. Around 68.7% stopped trading on the same day they launched. More than 80% stopped trading within two days. Only 4.55% remained active for longer than 90 days. 832,941 @PumpfunEco launches between May 8 and June 10, 2026. Only 0.198% graduated within 24 hours. That works out to roughly 1 successful graduation for every 500 launches, and the graduation rate is now around 3.2x lower than the 0.63% recorded during September and October 2025. Normally, those numbers would sound extremely bearish. But for Pump, I think they actually explain the thesis. Almost everyone launching or buying these coins will fail to find the next $FARTCOIN, PNUT, MOODENG or GOAT. Pump does not need to know which one wins. It earns when the token is launched, when people trade on the bonding curve, when it graduates, when it trades on PumpSwap and when users trade through its terminal. Thousands of coins can die while the platform still earns from all the activity that happened before they died. That is why $PUMP is potentially a much cleaner memecoin bet than trying to build a portfolio of individual memes. Pump is already supporting roughly 92,000 daily active users, 305,000 weekly users and around 700,000 monthly users. PumpSwap has processed approximately $414M over the last 24 hours, $4.07B over seven days, $19.49B over 30 days and almost $332B cumulatively. The platform also has around $232M in TVL today. More importantly, Pump is no longer just a basic page where anyone can launch a coin. It now controls the launchpad, the bonding curve, the native PumpSwap exchange and its own trading terminal. So instead of sending graduated tokens and their volume to another exchange, Pump can keep more of the entire lifecycle inside its own ecosystem. Creators are becoming another important part of that loop. During Q1 2026, creators earned around $133.6M through tracked https://t.co/yMVGHC5Q8D and PumpSwap creator fees. They earned another $85.7M in Q2. That means more than $219M was paid to creators during the first half of 2026 alone. This gives creators a direct financial reason to keep launching, building communities and bringing users back to the platform. The Pump ecosystem itself is already worth around $1.67B, excluding PUMP. Together, Pump ecosystem tokens are still generating close to $200M in daily trading volume even during a much weaker memecoin environment. So if memecoin activity returns, Pump can benefit from several things happening together. - More people will launch tokens. - More traders will enter bonding curves. - More coins will graduate. - PumpSwap volume should increase. - Creators should earn more. - Terminal activity should rise. - Protocol revenue should increase. And because part of that revenue is used to buy and burn $PUMP, the token can directly benefit from the higher activity. That last part is what separates $PUMP from many other exchange or ecosystem tokens. DeFiLlama currently tracks around $10.5M of holder revenue over the last 30 days and $308.7M cumulatively. If the latest 30-day pace continued for a year, it would equal roughly $126M in annual buybacks. Against a market cap of approximately $586M, that represents a gross annualised buyback yield of more than 21%. Of course, that is not a dividend and there is no guarantee the current revenue continues. Memecoin volume can disappear quickly, the buyback policy can eventually change and tokens being bought back does not automatically mean the price goes up. But the current maths is still difficult to ignore. Pump is producing real revenue, part of that revenue creates direct demand for $PUMP, and repurchased tokens are being removed from the supply. This is probably the strongest part of the thesis for me. The platform does not need to create a new business model to give the token value. It mainly needs to keep doing what it already does and increase activity. But the current trend is not perfect. Pump generated around $122.2M in retained revenue during Q1 2026, before falling to $91.6M in Q2. That is a decline of roughly 25%. The current 30-day revenue of $28.1M is also around 31% below Q1’s average monthly revenue and about 8% below Q2’s monthly average. PumpSwap’s latest daily volume of $414M is around 36% below its 30-day daily average of roughly $650M. So this is not a thesis that memecoin activity is already returning strongly. Right now, it is a bet that activity eventually returns. The good thing is that Pump has already survived one serious launchpad war. Its share of Solana’s graduated-token market reportedly fell as low as 5% in August 2025, while a competitor bonkfun briefly controlled more than 80% Within roughly two weeks, Pump recovered to around 90% market share while bonk fell to approximately 3%. That shows two things. First, Pump’s moat is not permanent. Token-launch technology can be copied and users can move quickly when another platform offers better incentives. But it also shows how powerful Pump’s distribution, brand, liquidity and existing creator network can be. The moat is not the bonding curve itself. The moat is that traders already expect the next major Solana memecoin to appear there, which attracts creators, and those creators attract more traders. Still, the biggest risk to $PUMP is clearly the supply. The nominal maximum supply is 1T tokens, while around 401.5B are currently circulating. on CoinGecko a total supply of approximately 849.7B after the tokens already removed from supply. The original allocation gave 33% to the ICO, 24% to community and ecosystem initiatives, 20% to the team, 13% to existing investors, 3% to livestreaming, 2.6% to liquidity and exchanges, 2.4% to the ecosystem fund and 2% to the foundation. So there is still a meaningful amount of team, investor and ecosystem supply outside the circulating market. The first major insider cliff has already happened. The next scheduled unlock is on August 12, when approximately 4.17B team tokens and 2.71B investor tokens will unlock. Combined, that is 6.875B PUMP, currently worth around $10M and equal to roughly 1.7% of the circulating float. Similar monthly unlocks are expected to continue under the current vesting schedule. This creates a very interesting piece of maths. Pump bought back approximately $10.5M of PUMP during the last 30 days. The next monthly team and investor unlock is currently worth approximately $10M. So at the current token price and revenue level, monthly buybacks are roughly equal to the dollar value of monthly insider unlocks. That sounds balanced, but the margin is extremely thin. If protocol revenue falls, buybacks will no longer match unlocks. And if the price of PUMP rises while revenue stays flat, the dollar value of each token unlock rises while the amount of money available for buybacks does not. Also, unlocked tokens are not guaranteed to be sold, just as buybacks are not guaranteed to create permanent price support. But the comparison tells us exactly what needs to improve. Pump needs revenue and buybacks to grow faster than the value of the new supply entering the market. The other major risk is that the platform is still completely dependent on speculative attention. Pump can launch millions of tokens, but that does not mean the market is healthy. When more than 80% of coins stop trading within two days and only around 0.2% graduate, users can eventually become tired of repeatedly losing money. If traders stop believing that the next launch can become a major winner, token creation alone will not be enough to maintain volume. There are also market-quality, legal and operational risks. Pump suffered a $2M private-key compromise in May 2024, and recent research identified 1,012 persistent groups of wallets repeatedly appearing among the earliest buyers across multiple launches. That study did not prove those wallets caused the higher activity around the affected tokens, but it does show how coordinated and difficult this market can be for normal traders. So I would not call $PUMP a safe or obvious investment. The token is down more than 80% from its high for real reasons. Current activity is below peak levels. Revenue declined from Q1 to Q2. The graduation rate is extremely low. Competition can appear quickly. And the token still has significant unlocks ahead. But at the same time, it is difficult to find many crypto applications with approximately $1.2B in cumulative revenue, $1.85B in cumulative fees, $332B in DEX volume, around 700,000 monthly active users and more than $308M already directed towards token buybacks, while the token itself trades below a $600M market cap. This is why I think the risk:reward becomes interesting if you believe memecoins will eventually have another major cycle. best thing is Pump does not need every coin to succeed. It does not even need most coins to survive for more than a day. It just needs people to keep believing they can find or create the next winner. If PumpSwap volume returns above $1B per day, monthly revenue moves back towards $50M, creators continue earning, market share remains strong and half of that growing activity continues flowing into token buybacks and burns, the current valuation could start looking very cheap. At $50M in monthly revenue, Pump would be producing $600M annually, roughly equal to the token’s entire current market cap. And if buybacks scaled alongside that activity, the protocol could be buying a meaningful percentage of the circulating market every year. That is the bull case. The bear case is also straightforward. Memecoin activity never properly returns, monthly PumpSwap volume falls below $10B, retained revenue drops below $15M, users and creators move to another platform, and monthly unlocks become consistently larger than buybacks. In that scenario, the current low valuation would not be an opportunity. It would simply reflect a declining business with heavy dilution. So the numbers I am watching from here are PumpSwap volume, daily and monthly active users, protocol revenue, creator earnings, graduation rate, launchpad market share, monthly buybacks and how the market absorbs each new unlock. Back to the main question. If memecoins return, is $PUMP the clearest way to benefit from the entire cycle rather than trying to pick individual winners? I think it probably is. Not because every Pump coin will win. The data shows almost all of them will fail. But while millions of traders compete to find the few coins that survive, Pump keeps earning from the entire process. $PUMP is basically a bet that the casino gets busy again. And instead of guessing who leaves the casino rich, you own exposure to the platform collecting fees from nearly everyone who plays.

Name & Symbol: Goatseus Maximus ($GOAT)
Address: CzLSujWBLFsSjncfkh59rUFqvafWcY5tzedWJSuypump

What if memecoins properly return and they really make a comeback ? I think $pump could be the best bet to make gains instead of trading random memecoins in the search of next 2-5-10-100x gains The basic thesis is simple.. Instead of trying to pick the one player who wins at the casino, you own exposure to the platform earning from almost everyone who enters. And when I looked into the actual numbers, @Pumpfun is already a much bigger and more profitable business than its current valuation suggests.. $PUMP is trading around $0.00146 with a market cap of roughly $586M and an FDV of around $1.24B The token is still down about 83.5% from its ATH of $0.0088 and roughly 64% below the $0.004 public-sale price So despite Pump becoming one of the highest-earning crypto applications, the token has basically been destroyed since launch. Now compare that valuation with the actual business. Over the last 30 days, users paid around $73.9M in fees across Pump’s launchpad, PumpSwap and trading terminal. Pump retained around $28.1M as protocol revenue, while approximately $10.5M was directed towards PUMP holders through buybacks. PumpSwap itself processed around $19.5B in volume during the same period. And since launch, Pump has generated approximately $1.85B in total fees, $1.2B in retained protocol revenue and $308.7M in cumulative token buybacks. Just think about that for a second. The company has already generated more than twice the token’s current market cap in cumulative revenue. Even using only the latest 30-day revenue of $28.1M, Pump is currently running at roughly $337M in annualised revenue. That puts $PUMP at around 1.7x annualised revenue based on circulating market cap and roughly 3.7x based on FDV. Those are obviously not guaranteed forward numbers, but for one of the most recognisable consumer applications in crypto, the current valuation is not expensive if the business can even maintain its present activity. And this is where the memecoin thesis becomes interesting. 18.67M tokens launched through https://t.co/yMVGHC5Q8D between January 2024 and June 2026. Around 68.7% stopped trading on the same day they launched. More than 80% stopped trading within two days. Only 4.55% remained active for longer than 90 days. 832,941 @PumpfunEco launches between May 8 and June 10, 2026. Only 0.198% graduated within 24 hours. That works out to roughly 1 successful graduation for every 500 launches, and the graduation rate is now around 3.2x lower than the 0.63% recorded during September and October 2025. Normally, those numbers would sound extremely bearish. But for Pump, I think they actually explain the thesis. Almost everyone launching or buying these coins will fail to find the next $FARTCOIN, PNUT, MOODENG or GOAT. Pump does not need to know which one wins. It earns when the token is launched, when people trade on the bonding curve, when it graduates, when it trades on PumpSwap and when users trade through its terminal. Thousands of coins can die while the platform still earns from all the activity that happened before they died. That is why $PUMP is potentially a much cleaner memecoin bet than trying to build a portfolio of individual memes. Pump is already supporting roughly 92,000 daily active users, 305,000 weekly users and around 700,000 monthly users. PumpSwap has processed approximately $414M over the last 24 hours, $4.07B over seven days, $19.49B over 30 days and almost $332B cumulatively. The platform also has around $232M in TVL today. More importantly, Pump is no longer just a basic page where anyone can launch a coin. It now controls the launchpad, the bonding curve, the native PumpSwap exchange and its own trading terminal. So instead of sending graduated tokens and their volume to another exchange, Pump can keep more of the entire lifecycle inside its own ecosystem. Creators are becoming another important part of that loop. During Q1 2026, creators earned around $133.6M through tracked https://t.co/yMVGHC5Q8D and PumpSwap creator fees. They earned another $85.7M in Q2. That means more than $219M was paid to creators during the first half of 2026 alone. This gives creators a direct financial reason to keep launching, building communities and bringing users back to the platform. The Pump ecosystem itself is already worth around $1.67B, excluding PUMP. Together, Pump ecosystem tokens are still generating close to $200M in daily trading volume even during a much weaker memecoin environment. So if memecoin activity returns, Pump can benefit from several things happening together. - More people will launch tokens. - More traders will enter bonding curves. - More coins will graduate. - PumpSwap volume should increase. - Creators should earn more. - Terminal activity should rise. - Protocol revenue should increase. And because part of that revenue is used to buy and burn $PUMP, the token can directly benefit from the higher activity. That last part is what separates $PUMP from many other exchange or ecosystem tokens. DeFiLlama currently tracks around $10.5M of holder revenue over the last 30 days and $308.7M cumulatively. If the latest 30-day pace continued for a year, it would equal roughly $126M in annual buybacks. Against a market cap of approximately $586M, that represents a gross annualised buyback yield of more than 21%. Of course, that is not a dividend and there is no guarantee the current revenue continues. Memecoin volume can disappear quickly, the buyback policy can eventually change and tokens being bought back does not automatically mean the price goes up. But the current maths is still difficult to ignore. Pump is producing real revenue, part of that revenue creates direct demand for $PUMP, and repurchased tokens are being removed from the supply. This is probably the strongest part of the thesis for me. The platform does not need to create a new business model to give the token value. It mainly needs to keep doing what it already does and increase activity. But the current trend is not perfect. Pump generated around $122.2M in retained revenue during Q1 2026, before falling to $91.6M in Q2. That is a decline of roughly 25%. The current 30-day revenue of $28.1M is also around 31% below Q1’s average monthly revenue and about 8% below Q2’s monthly average. PumpSwap’s latest daily volume of $414M is around 36% below its 30-day daily average of roughly $650M. So this is not a thesis that memecoin activity is already returning strongly. Right now, it is a bet that activity eventually returns. The good thing is that Pump has already survived one serious launchpad war. Its share of Solana’s graduated-token market reportedly fell as low as 5% in August 2025, while a competitor bonkfun briefly controlled more than 80% Within roughly two weeks, Pump recovered to around 90% market share while bonk fell to approximately 3%. That shows two things. First, Pump’s moat is not permanent. Token-launch technology can be copied and users can move quickly when another platform offers better incentives. But it also shows how powerful Pump’s distribution, brand, liquidity and existing creator network can be. The moat is not the bonding curve itself. The moat is that traders already expect the next major Solana memecoin to appear there, which attracts creators, and those creators attract more traders. Still, the biggest risk to $PUMP is clearly the supply. The nominal maximum supply is 1T tokens, while around 401.5B are currently circulating. on CoinGecko a total supply of approximately 849.7B after the tokens already removed from supply. The original allocation gave 33% to the ICO, 24% to community and ecosystem initiatives, 20% to the team, 13% to existing investors, 3% to livestreaming, 2.6% to liquidity and exchanges, 2.4% to the ecosystem fund and 2% to the foundation. So there is still a meaningful amount of team, investor and ecosystem supply outside the circulating market. The first major insider cliff has already happened. The next scheduled unlock is on August 12, when approximately 4.17B team tokens and 2.71B investor tokens will unlock. Combined, that is 6.875B PUMP, currently worth around $10M and equal to roughly 1.7% of the circulating float. Similar monthly unlocks are expected to continue under the current vesting schedule. This creates a very interesting piece of maths. Pump bought back approximately $10.5M of PUMP during the last 30 days. The next monthly team and investor unlock is currently worth approximately $10M. So at the current token price and revenue level, monthly buybacks are roughly equal to the dollar value of monthly insider unlocks. That sounds balanced, but the margin is extremely thin. If protocol revenue falls, buybacks will no longer match unlocks. And if the price of PUMP rises while revenue stays flat, the dollar value of each token unlock rises while the amount of money available for buybacks does not. Also, unlocked tokens are not guaranteed to be sold, just as buybacks are not guaranteed to create permanent price support. But the comparison tells us exactly what needs to improve. Pump needs revenue and buybacks to grow faster than the value of the new supply entering the market. The other major risk is that the platform is still completely dependent on speculative attention. Pump can launch millions of tokens, but that does not mean the market is healthy. When more than 80% of coins stop trading within two days and only around 0.2% graduate, users can eventually become tired of repeatedly losing money. If traders stop believing that the next launch can become a major winner, token creation alone will not be enough to maintain volume. There are also market-quality, legal and operational risks. Pump suffered a $2M private-key compromise in May 2024, and recent research identified 1,012 persistent groups of wallets repeatedly appearing among the earliest buyers across multiple launches. That study did not prove those wallets caused the higher activity around the affected tokens, but it does show how coordinated and difficult this market can be for normal traders. So I would not call $PUMP a safe or obvious investment. The token is down more than 80% from its high for real reasons. Current activity is below peak levels. Revenue declined from Q1 to Q2. The graduation rate is extremely low. Competition can appear quickly. And the token still has significant unlocks ahead. But at the same time, it is difficult to find many crypto applications with approximately $1.2B in cumulative revenue, $1.85B in cumulative fees, $332B in DEX volume, around 700,000 monthly active users and more than $308M already directed towards token buybacks, while the token itself trades below a $600M market cap. This is why I think the risk:reward becomes interesting if you believe memecoins will eventually have another major cycle. best thing is Pump does not need every coin to succeed. It does not even need most coins to survive for more than a day. It just needs people to keep believing they can find or create the next winner. If PumpSwap volume returns above $1B per day, monthly revenue moves back towards $50M, creators continue earning, market share remains strong and half of that growing activity continues flowing into token buybacks and burns, the current valuation could start looking very cheap. At $50M in monthly revenue, Pump would be producing $600M annually, roughly equal to the token’s entire current market cap. And if buybacks scaled alongside that activity, the protocol could be buying a meaningful percentage of the circulating market every year. That is the bull case. The bear case is also straightforward. Memecoin activity never properly returns, monthly PumpSwap volume falls below $10B, retained revenue drops below $15M, users and creators move to another platform, and monthly unlocks become consistently larger than buybacks. In that scenario, the current low valuation would not be an opportunity. It would simply reflect a declining business with heavy dilution. So the numbers I am watching from here are PumpSwap volume, daily and monthly active users, protocol revenue, creator earnings, graduation rate, launchpad market share, monthly buybacks and how the market absorbs each new unlock. Back to the main question. If memecoins return, is $PUMP the clearest way to benefit from the entire cycle rather than trying to pick individual winners? I think it probably is. Not because every Pump coin will win. The data shows almost all of them will fail. But while millions of traders compete to find the few coins that survive, Pump keeps earning from the entire process. $PUMP is basically a bet that the casino gets busy again. And instead of guessing who leaves the casino rich, you own exposure to the platform collecting fees from nearly everyone who plays.

Name & Symbol: Fartcoin ($Fartcoin)
Address: 9BB6NFEcjBCtnNLFko2FqVQBq8HHM13kCyYcdQbgpump

What if memecoins properly return and they really make a comeback ? I think $pump could be the best bet to make gains instead of trading random memecoins in the search of next 2-5-10-100x gains The basic thesis is simple.. Instead of trying to pick the one player who wins at the casino, you own exposure to the platform earning from almost everyone who enters. And when I looked into the actual numbers, @Pumpfun is already a much bigger and more profitable business than its current valuation suggests.. $PUMP is trading around $0.00146 with a market cap of roughly $586M and an FDV of around $1.24B The token is still down about 83.5% from its ATH of $0.0088 and roughly 64% below the $0.004 public-sale price So despite Pump becoming one of the highest-earning crypto applications, the token has basically been destroyed since launch. Now compare that valuation with the actual business. Over the last 30 days, users paid around $73.9M in fees across Pump’s launchpad, PumpSwap and trading terminal. Pump retained around $28.1M as protocol revenue, while approximately $10.5M was directed towards PUMP holders through buybacks. PumpSwap itself processed around $19.5B in volume during the same period. And since launch, Pump has generated approximately $1.85B in total fees, $1.2B in retained protocol revenue and $308.7M in cumulative token buybacks. Just think about that for a second. The company has already generated more than twice the token’s current market cap in cumulative revenue. Even using only the latest 30-day revenue of $28.1M, Pump is currently running at roughly $337M in annualised revenue. That puts $PUMP at around 1.7x annualised revenue based on circulating market cap and roughly 3.7x based on FDV. Those are obviously not guaranteed forward numbers, but for one of the most recognisable consumer applications in crypto, the current valuation is not expensive if the business can even maintain its present activity. And this is where the memecoin thesis becomes interesting. 18.67M tokens launched through https://t.co/yMVGHC5Q8D between January 2024 and June 2026. Around 68.7% stopped trading on the same day they launched. More than 80% stopped trading within two days. Only 4.55% remained active for longer than 90 days. 832,941 @PumpfunEco launches between May 8 and June 10, 2026. Only 0.198% graduated within 24 hours. That works out to roughly 1 successful graduation for every 500 launches, and the graduation rate is now around 3.2x lower than the 0.63% recorded during September and October 2025. Normally, those numbers would sound extremely bearish. But for Pump, I think they actually explain the thesis. Almost everyone launching or buying these coins will fail to find the next $FARTCOIN, PNUT, MOODENG or GOAT. Pump does not need to know which one wins. It earns when the token is launched, when people trade on the bonding curve, when it graduates, when it trades on PumpSwap and when users trade through its terminal. Thousands of coins can die while the platform still earns from all the activity that happened before they died. That is why $PUMP is potentially a much cleaner memecoin bet than trying to build a portfolio of individual memes. Pump is already supporting roughly 92,000 daily active users, 305,000 weekly users and around 700,000 monthly users. PumpSwap has processed approximately $414M over the last 24 hours, $4.07B over seven days, $19.49B over 30 days and almost $332B cumulatively. The platform also has around $232M in TVL today. More importantly, Pump is no longer just a basic page where anyone can launch a coin. It now controls the launchpad, the bonding curve, the native PumpSwap exchange and its own trading terminal. So instead of sending graduated tokens and their volume to another exchange, Pump can keep more of the entire lifecycle inside its own ecosystem. Creators are becoming another important part of that loop. During Q1 2026, creators earned around $133.6M through tracked https://t.co/yMVGHC5Q8D and PumpSwap creator fees. They earned another $85.7M in Q2. That means more than $219M was paid to creators during the first half of 2026 alone. This gives creators a direct financial reason to keep launching, building communities and bringing users back to the platform. The Pump ecosystem itself is already worth around $1.67B, excluding PUMP. Together, Pump ecosystem tokens are still generating close to $200M in daily trading volume even during a much weaker memecoin environment. So if memecoin activity returns, Pump can benefit from several things happening together. - More people will launch tokens. - More traders will enter bonding curves. - More coins will graduate. - PumpSwap volume should increase. - Creators should earn more. - Terminal activity should rise. - Protocol revenue should increase. And because part of that revenue is used to buy and burn $PUMP, the token can directly benefit from the higher activity. That last part is what separates $PUMP from many other exchange or ecosystem tokens. DeFiLlama currently tracks around $10.5M of holder revenue over the last 30 days and $308.7M cumulatively. If the latest 30-day pace continued for a year, it would equal roughly $126M in annual buybacks. Against a market cap of approximately $586M, that represents a gross annualised buyback yield of more than 21%. Of course, that is not a dividend and there is no guarantee the current revenue continues. Memecoin volume can disappear quickly, the buyback policy can eventually change and tokens being bought back does not automatically mean the price goes up. But the current maths is still difficult to ignore. Pump is producing real revenue, part of that revenue creates direct demand for $PUMP, and repurchased tokens are being removed from the supply. This is probably the strongest part of the thesis for me. The platform does not need to create a new business model to give the token value. It mainly needs to keep doing what it already does and increase activity. But the current trend is not perfect. Pump generated around $122.2M in retained revenue during Q1 2026, before falling to $91.6M in Q2. That is a decline of roughly 25%. The current 30-day revenue of $28.1M is also around 31% below Q1’s average monthly revenue and about 8% below Q2’s monthly average. PumpSwap’s latest daily volume of $414M is around 36% below its 30-day daily average of roughly $650M. So this is not a thesis that memecoin activity is already returning strongly. Right now, it is a bet that activity eventually returns. The good thing is that Pump has already survived one serious launchpad war. Its share of Solana’s graduated-token market reportedly fell as low as 5% in August 2025, while a competitor bonkfun briefly controlled more than 80% Within roughly two weeks, Pump recovered to around 90% market share while bonk fell to approximately 3%. That shows two things. First, Pump’s moat is not permanent. Token-launch technology can be copied and users can move quickly when another platform offers better incentives. But it also shows how powerful Pump’s distribution, brand, liquidity and existing creator network can be. The moat is not the bonding curve itself. The moat is that traders already expect the next major Solana memecoin to appear there, which attracts creators, and those creators attract more traders. Still, the biggest risk to $PUMP is clearly the supply. The nominal maximum supply is 1T tokens, while around 401.5B are currently circulating. on CoinGecko a total supply of approximately 849.7B after the tokens already removed from supply. The original allocation gave 33% to the ICO, 24% to community and ecosystem initiatives, 20% to the team, 13% to existing investors, 3% to livestreaming, 2.6% to liquidity and exchanges, 2.4% to the ecosystem fund and 2% to the foundation. So there is still a meaningful amount of team, investor and ecosystem supply outside the circulating market. The first major insider cliff has already happened. The next scheduled unlock is on August 12, when approximately 4.17B team tokens and 2.71B investor tokens will unlock. Combined, that is 6.875B PUMP, currently worth around $10M and equal to roughly 1.7% of the circulating float. Similar monthly unlocks are expected to continue under the current vesting schedule. This creates a very interesting piece of maths. Pump bought back approximately $10.5M of PUMP during the last 30 days. The next monthly team and investor unlock is currently worth approximately $10M. So at the current token price and revenue level, monthly buybacks are roughly equal to the dollar value of monthly insider unlocks. That sounds balanced, but the margin is extremely thin. If protocol revenue falls, buybacks will no longer match unlocks. And if the price of PUMP rises while revenue stays flat, the dollar value of each token unlock rises while the amount of money available for buybacks does not. Also, unlocked tokens are not guaranteed to be sold, just as buybacks are not guaranteed to create permanent price support. But the comparison tells us exactly what needs to improve. Pump needs revenue and buybacks to grow faster than the value of the new supply entering the market. The other major risk is that the platform is still completely dependent on speculative attention. Pump can launch millions of tokens, but that does not mean the market is healthy. When more than 80% of coins stop trading within two days and only around 0.2% graduate, users can eventually become tired of repeatedly losing money. If traders stop believing that the next launch can become a major winner, token creation alone will not be enough to maintain volume. There are also market-quality, legal and operational risks. Pump suffered a $2M private-key compromise in May 2024, and recent research identified 1,012 persistent groups of wallets repeatedly appearing among the earliest buyers across multiple launches. That study did not prove those wallets caused the higher activity around the affected tokens, but it does show how coordinated and difficult this market can be for normal traders. So I would not call $PUMP a safe or obvious investment. The token is down more than 80% from its high for real reasons. Current activity is below peak levels. Revenue declined from Q1 to Q2. The graduation rate is extremely low. Competition can appear quickly. And the token still has significant unlocks ahead. But at the same time, it is difficult to find many crypto applications with approximately $1.2B in cumulative revenue, $1.85B in cumulative fees, $332B in DEX volume, around 700,000 monthly active users and more than $308M already directed towards token buybacks, while the token itself trades below a $600M market cap. This is why I think the risk:reward becomes interesting if you believe memecoins will eventually have another major cycle. best thing is Pump does not need every coin to succeed. It does not even need most coins to survive for more than a day. It just needs people to keep believing they can find or create the next winner. If PumpSwap volume returns above $1B per day, monthly revenue moves back towards $50M, creators continue earning, market share remains strong and half of that growing activity continues flowing into token buybacks and burns, the current valuation could start looking very cheap. At $50M in monthly revenue, Pump would be producing $600M annually, roughly equal to the token’s entire current market cap. And if buybacks scaled alongside that activity, the protocol could be buying a meaningful percentage of the circulating market every year. That is the bull case. The bear case is also straightforward. Memecoin activity never properly returns, monthly PumpSwap volume falls below $10B, retained revenue drops below $15M, users and creators move to another platform, and monthly unlocks become consistently larger than buybacks. In that scenario, the current low valuation would not be an opportunity. It would simply reflect a declining business with heavy dilution. So the numbers I am watching from here are PumpSwap volume, daily and monthly active users, protocol revenue, creator earnings, graduation rate, launchpad market share, monthly buybacks and how the market absorbs each new unlock. Back to the main question. If memecoins return, is $PUMP the clearest way to benefit from the entire cycle rather than trying to pick individual winners? I think it probably is. Not because every Pump coin will win. The data shows almost all of them will fail. But while millions of traders compete to find the few coins that survive, Pump keeps earning from the entire process. $PUMP is basically a bet that the casino gets busy again. And instead of guessing who leaves the casino rich, you own exposure to the platform collecting fees from nearly everyone who plays.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

What if memecoins properly return and they really make a comeback ? I think $pump could be the best bet to make gains instead of trading random memecoins in the search of next 2-5-10-100x gains The basic thesis is simple.. Instead of trying to pick the one player who wins at the casino, you own exposure to the platform earning from almost everyone who enters. And when I looked into the actual numbers, @Pumpfun is already a much bigger and more profitable business than its current valuation suggests.. $PUMP is trading around $0.00146 with a market cap of roughly $586M and an FDV of around $1.24B The token is still down about 83.5% from its ATH of $0.0088 and roughly 64% below the $0.004 public-sale price So despite Pump becoming one of the highest-earning crypto applications, the token has basically been destroyed since launch. Now compare that valuation with the actual business. Over the last 30 days, users paid around $73.9M in fees across Pump’s launchpad, PumpSwap and trading terminal. Pump retained around $28.1M as protocol revenue, while approximately $10.5M was directed towards PUMP holders through buybacks. PumpSwap itself processed around $19.5B in volume during the same period. And since launch, Pump has generated approximately $1.85B in total fees, $1.2B in retained protocol revenue and $308.7M in cumulative token buybacks. Just think about that for a second. The company has already generated more than twice the token’s current market cap in cumulative revenue. Even using only the latest 30-day revenue of $28.1M, Pump is currently running at roughly $337M in annualised revenue. That puts $PUMP at around 1.7x annualised revenue based on circulating market cap and roughly 3.7x based on FDV. Those are obviously not guaranteed forward numbers, but for one of the most recognisable consumer applications in crypto, the current valuation is not expensive if the business can even maintain its present activity. And this is where the memecoin thesis becomes interesting. 18.67M tokens launched through https://t.co/yMVGHC5Q8D between January 2024 and June 2026. Around 68.7% stopped trading on the same day they launched. More than 80% stopped trading within two days. Only 4.55% remained active for longer than 90 days. 832,941 @PumpfunEco launches between May 8 and June 10, 2026. Only 0.198% graduated within 24 hours. That works out to roughly 1 successful graduation for every 500 launches, and the graduation rate is now around 3.2x lower than the 0.63% recorded during September and October 2025. Normally, those numbers would sound extremely bearish. But for Pump, I think they actually explain the thesis. Almost everyone launching or buying these coins will fail to find the next $FARTCOIN, PNUT, MOODENG or GOAT. Pump does not need to know which one wins. It earns when the token is launched, when people trade on the bonding curve, when it graduates, when it trades on PumpSwap and when users trade through its terminal. Thousands of coins can die while the platform still earns from all the activity that happened before they died. That is why $PUMP is potentially a much cleaner memecoin bet than trying to build a portfolio of individual memes. Pump is already supporting roughly 92,000 daily active users, 305,000 weekly users and around 700,000 monthly users. PumpSwap has processed approximately $414M over the last 24 hours, $4.07B over seven days, $19.49B over 30 days and almost $332B cumulatively. The platform also has around $232M in TVL today. More importantly, Pump is no longer just a basic page where anyone can launch a coin. It now controls the launchpad, the bonding curve, the native PumpSwap exchange and its own trading terminal. So instead of sending graduated tokens and their volume to another exchange, Pump can keep more of the entire lifecycle inside its own ecosystem. Creators are becoming another important part of that loop. During Q1 2026, creators earned around $133.6M through tracked https://t.co/yMVGHC5Q8D and PumpSwap creator fees. They earned another $85.7M in Q2. That means more than $219M was paid to creators during the first half of 2026 alone. This gives creators a direct financial reason to keep launching, building communities and bringing users back to the platform. The Pump ecosystem itself is already worth around $1.67B, excluding PUMP. Together, Pump ecosystem tokens are still generating close to $200M in daily trading volume even during a much weaker memecoin environment. So if memecoin activity returns, Pump can benefit from several things happening together. - More people will launch tokens. - More traders will enter bonding curves. - More coins will graduate. - PumpSwap volume should increase. - Creators should earn more. - Terminal activity should rise. - Protocol revenue should increase. And because part of that revenue is used to buy and burn $PUMP, the token can directly benefit from the higher activity. That last part is what separates $PUMP from many other exchange or ecosystem tokens. DeFiLlama currently tracks around $10.5M of holder revenue over the last 30 days and $308.7M cumulatively. If the latest 30-day pace continued for a year, it would equal roughly $126M in annual buybacks. Against a market cap of approximately $586M, that represents a gross annualised buyback yield of more than 21%. Of course, that is not a dividend and there is no guarantee the current revenue continues. Memecoin volume can disappear quickly, the buyback policy can eventually change and tokens being bought back does not automatically mean the price goes up. But the current maths is still difficult to ignore. Pump is producing real revenue, part of that revenue creates direct demand for $PUMP, and repurchased tokens are being removed from the supply. This is probably the strongest part of the thesis for me. The platform does not need to create a new business model to give the token value. It mainly needs to keep doing what it already does and increase activity. But the current trend is not perfect. Pump generated around $122.2M in retained revenue during Q1 2026, before falling to $91.6M in Q2. That is a decline of roughly 25%. The current 30-day revenue of $28.1M is also around 31% below Q1’s average monthly revenue and about 8% below Q2’s monthly average. PumpSwap’s latest daily volume of $414M is around 36% below its 30-day daily average of roughly $650M. So this is not a thesis that memecoin activity is already returning strongly. Right now, it is a bet that activity eventually returns. The good thing is that Pump has already survived one serious launchpad war. Its share of Solana’s graduated-token market reportedly fell as low as 5% in August 2025, while a competitor bonkfun briefly controlled more than 80% Within roughly two weeks, Pump recovered to around 90% market share while bonk fell to approximately 3%. That shows two things. First, Pump’s moat is not permanent. Token-launch technology can be copied and users can move quickly when another platform offers better incentives. But it also shows how powerful Pump’s distribution, brand, liquidity and existing creator network can be. The moat is not the bonding curve itself. The moat is that traders already expect the next major Solana memecoin to appear there, which attracts creators, and those creators attract more traders. Still, the biggest risk to $PUMP is clearly the supply. The nominal maximum supply is 1T tokens, while around 401.5B are currently circulating. on CoinGecko a total supply of approximately 849.7B after the tokens already removed from supply. The original allocation gave 33% to the ICO, 24% to community and ecosystem initiatives, 20% to the team, 13% to existing investors, 3% to livestreaming, 2.6% to liquidity and exchanges, 2.4% to the ecosystem fund and 2% to the foundation. So there is still a meaningful amount of team, investor and ecosystem supply outside the circulating market. The first major insider cliff has already happened. The next scheduled unlock is on August 12, when approximately 4.17B team tokens and 2.71B investor tokens will unlock. Combined, that is 6.875B PUMP, currently worth around $10M and equal to roughly 1.7% of the circulating float. Similar monthly unlocks are expected to continue under the current vesting schedule. This creates a very interesting piece of maths. Pump bought back approximately $10.5M of PUMP during the last 30 days. The next monthly team and investor unlock is currently worth approximately $10M. So at the current token price and revenue level, monthly buybacks are roughly equal to the dollar value of monthly insider unlocks. That sounds balanced, but the margin is extremely thin. If protocol revenue falls, buybacks will no longer match unlocks. And if the price of PUMP rises while revenue stays flat, the dollar value of each token unlock rises while the amount of money available for buybacks does not. Also, unlocked tokens are not guaranteed to be sold, just as buybacks are not guaranteed to create permanent price support. But the comparison tells us exactly what needs to improve. Pump needs revenue and buybacks to grow faster than the value of the new supply entering the market. The other major risk is that the platform is still completely dependent on speculative attention. Pump can launch millions of tokens, but that does not mean the market is healthy. When more than 80% of coins stop trading within two days and only around 0.2% graduate, users can eventually become tired of repeatedly losing money. If traders stop believing that the next launch can become a major winner, token creation alone will not be enough to maintain volume. There are also market-quality, legal and operational risks. Pump suffered a $2M private-key compromise in May 2024, and recent research identified 1,012 persistent groups of wallets repeatedly appearing among the earliest buyers across multiple launches. That study did not prove those wallets caused the higher activity around the affected tokens, but it does show how coordinated and difficult this market can be for normal traders. So I would not call $PUMP a safe or obvious investment. The token is down more than 80% from its high for real reasons. Current activity is below peak levels. Revenue declined from Q1 to Q2. The graduation rate is extremely low. Competition can appear quickly. And the token still has significant unlocks ahead. But at the same time, it is difficult to find many crypto applications with approximately $1.2B in cumulative revenue, $1.85B in cumulative fees, $332B in DEX volume, around 700,000 monthly active users and more than $308M already directed towards token buybacks, while the token itself trades below a $600M market cap. This is why I think the risk:reward becomes interesting if you believe memecoins will eventually have another major cycle. best thing is Pump does not need every coin to succeed. It does not even need most coins to survive for more than a day. It just needs people to keep believing they can find or create the next winner. If PumpSwap volume returns above $1B per day, monthly revenue moves back towards $50M, creators continue earning, market share remains strong and half of that growing activity continues flowing into token buybacks and burns, the current valuation could start looking very cheap. At $50M in monthly revenue, Pump would be producing $600M annually, roughly equal to the token’s entire current market cap. And if buybacks scaled alongside that activity, the protocol could be buying a meaningful percentage of the circulating market every year. That is the bull case. The bear case is also straightforward. Memecoin activity never properly returns, monthly PumpSwap volume falls below $10B, retained revenue drops below $15M, users and creators move to another platform, and monthly unlocks become consistently larger than buybacks. In that scenario, the current low valuation would not be an opportunity. It would simply reflect a declining business with heavy dilution. So the numbers I am watching from here are PumpSwap volume, daily and monthly active users, protocol revenue, creator earnings, graduation rate, launchpad market share, monthly buybacks and how the market absorbs each new unlock. Back to the main question. If memecoins return, is $PUMP the clearest way to benefit from the entire cycle rather than trying to pick individual winners? I think it probably is. Not because every Pump coin will win. The data shows almost all of them will fail. But while millions of traders compete to find the few coins that survive, Pump keeps earning from the entire process. $PUMP is basically a bet that the casino gets busy again. And instead of guessing who leaves the casino rich, you own exposure to the platform collecting fees from nearly everyone who plays.

Name & Symbol: Fartcoin ($Fartcoin)
Address: 9BB6NFEcjBCtnNLFko2FqVQBq8HHM13kCyYcdQbgpump

A simple litmus test to find good altcoins setup Watch for the ones that fully retrace their 10/10 wick and build a clean base around it. These are usually the cleanest R/R trades on the board imo. For example, look at the PA on these: • $HYPE • $AERO • $WLD, $JTO, $INJ and others All of them retraced the wick → based around it → pulled a 2-3x. There are still a few underrated setups in play. Some are already basing. Some are just nearing their 10/10 wicks . All you gotta do is spot them early 4

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

A simple litmus test to find good altcoins setup Watch for the ones that fully retrace their 10/10 wick and build a clean base around it. These are usually the cleanest R/R trades on the board imo. For example, look at the PA on these: • $HYPE • $AERO • $WLD, $JTO, $INJ and others All of them retraced the wick → based around it → pulled a 2-3x. There are still a few underrated setups in play. Some are already basing. Some are just nearing their 10/10 wicks . All you gotta do is spot them early 4

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

For a stablecoin, this is one of the better yield options around right now.. since not many clean yield plays left in this market. Binance launched a USD1 yield campaign.. 10.5% APR on your first $2,000, then ~5.2% uncapped above that. live till June 23. easy spot to park some stables while it lasts. ($USD1 by @worldlibertyfi)

Name & Symbol: aPriori ($APR)
Address: 0x299ad4299da5b2b93fba4c96967b040c7f611099

the US just quietly started putting wall street on the blockchain and nobody on CT is paying attention.. in the last 30 days: SEC officially approved Nasdaq to trade tokenized securities. not some crypto startup.. Nasdaq. the actual stock exchange. Russell 1000 stocks and major ETFs can now settle on chain. BlackRock started trading their tokenized Treasury fund BUIDL on Uniswap. the world's largest asset manager. on a DEX. trading US government debt. the SEC and CFTC released a joint token taxonomy on march 17 the first real regulatory framework for tokenized securities and commodities at the federal level. now look at the numbers: tokenized RWA market: $26.5B (up 66% since january) tokenized US treasuries alone: $11.1B for the first time ever, RWA protocols hold more value than all DEXs combined in DeFi the asset classes going on-chain: - US treasuries ($11B+ and growing fast) - real estate (fractional ownership starting at $100) - private credit (Centrifuge, Maple, Goldfinch) - commodities (gold, silver — 24/7 trading, no physical storage) - corporate bonds i mean think about this for a second. BlackRock's Larry Fink said tokenization is "necessary" in january. then they put BUIDL on Uniswap. then Nasdaq gets SEC approval. then the regulatory framework drops. the $30T number people throw around isn't even crazy US treasuries market alone is $27T, US real estate is $45T, US equities are $50T+. if even 1% moves on-chain in the next 2-3 years, that's $1.2 trillion of new capital flowing into blockchain rails. and the chains capturing this: - ethereum: $15.3B (57% market share) - BNB chain: $3.2B (up 35% in 30 days) - solana: $1.7B - stellar: $1.4B we're watching traditional finance merge with crypto in real time. rn and this is yet to be priced in.. higher!

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

bitpanda’s building vision chain, an ethereum L2 expected in 2026. a couple technical things stood out to me. first: gas fees in euros. not ETH. not some volatile token. transactions pay fees in euro stablecoins. for european traders that actually removes a lot of friction: > fees in the same currency you think in > yields denominated in euros > no FX conversion spreads every time you interact on-chain second: the real focus here seems to be RWAs. vision is positioning itself as infrastructure where banks and financial institutions can tokenize assets like.. real estate, private credit and funds and distribute them directly to bitpanda’s existing user base. that means products that normally require €1M+ entry tickets could potentially be accessed on-chain in smaller sizes. tokenomics is built around usage, not just speculation. i think the model looks roughly like this: institutional transactions → asset management fees → buyback + burn of $VSN → supply reduction as network activity grows so the value accrual is tied to actual financial activity, not just trading hype. there’s also a double flywheel they’re aiming for: institutions bring RWA assets → retail comes for real yields → developers build where liquidity exists → network activity increases → token burns increase another key piece is regulatory positioning. they’re designing it with MiCA, PSD2 and AML compliance from day one, which matters if traditional financial institutions are going to move on-chain in europe. and distribution matters too. bitpanda already has millions of european users. vision is basically giving them compliant rails for tokenized finance. if you’re researching european L2s or RWA infrastructure, the combination of.. euro-denominated gas, institutional RWA focus and regulatory-first approach makes vision structurally different from most L2 launches.

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

trump's DeFi project made USD1 the sole currency of a prediction market perfect timing here: > there's a literal war going on > prediction markets go parabolic during geopolitical events (polymarket did $1B+ during elections) > myriad just consolidated everything into USD1-only settlement > moved to a CLOB model on BNB chain for deeper liquidity so every bet placed on "will hormuz reopen" or "will there be a ceasefire" now flows through trump's stablecoin they're quietly shipping real infra (stablecoin, prediction markets, banking charter filed, RWA tokenization for oil/gas) while the token bleeds watching closely 

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

every few months i repeat this.. how fragile wallet security actually is.. nothing is 100% safe. > not your phone > not your laptop > not your seed phrase screenshot in the gallery > not even your password manager this is a good reminder why. security researchers just documented a large iOS exploit toolkit called “Coruna.” it targets iphones running iOS 13 → iOS 17.2.1 and contains 23 different exploits. once triggered from a malicious website, it can: > hook into multiple crypto apps > extract wallet credentials > scan files and images for QR codes > search text for BIP39 seed phrases > even scan apple notes looking for “backup phrase” keywords basically if your seed or wallet credentials exist anywhere on the device, it can try to find them. this is exactly why relying on a single wallet or a single device is dangerous. one compromise and everything is gone. the best solution i think for serious funds is multisig. basically, multisig = multiple keys required to approve a transaction. example: 3 keys total 2 signatures required to move funds even if one key gets compromised, the attacker still cannot move the funds. this removes the single point of failure problem. this protects you against: > device malware > seed phrase leaks > phishing attacks >exchange or wallet compromises this is why funds, DAOs and serious traders use multisig. and setting up multisig is simple (recommended) use 3 keys / 2 signatures required. example setup: key 1 → hardware wallet (ledger / trezor) key 2 → second hardware wallet on another device key 3 → backup key stored offline so any 2 keys can approve transactions. but one key alone cannot move funds. how to set it up (quick guide) > get 2 hardware wallets > create separate seed phrases for each > go to a multisig wallet interface like: - Safe (formerly gnosis safe) for EVM chains - Sparrow / Specter for bitcoin > add the hardware wallets as signers > configure 2-of-3 multisig now every transaction requires approval from at least two devices. and please never, > store seed phrases digitally > keep seeds in apple notes / screenshots > use the same device for all keys always: > separate devices > separate locations > hardware wallets

Name & Symbol: Safe Token ($SAFE)
Address: 0x5afe3855358e112b5647b952709e6165e1c1eeee

Megaeth mainnet is now live and its worth paying attention to its ecosystem rn for multiple reasons, - Vitalik + dragonfly backed. - 11b transactions stress tested. - token launch and unlocks gated by real usage and developments.. based on all this, it doesn’t feel like just another empty cash grab l2 chain. hence paying attention to early ecosystem plays like i have @AurionDex under my radar, since 2025 was perp dex year. +213% growth while rest of defi bled why? speed enabled cex-level execution → real traders showed up → sticky tvl now every fast l2 needs a native liquidity hub. solana has raydium. arbitrum has gmx. base has aerodrome and megaeth doing 35k tps, 10ms blocks. the infrastructure is there but infrastructure without a liquidity layer = fragmented ecosystem Aurion's positioned at the intersection: native dex + prediction markets launching with mainnet and why i think its huge is because, polymarket proved prediction markets = volume. $6b weekly. but it's off-chain settlement.. the problem with onchain predictions is that they need SPEED. you can't close markets on 12-second blocks - latency arbitrage destroys it megaeth's 10ms finality changes that. event happens → market closes instantly → settlement onchain the market size is real: if onchain predictions capture even 10% of polymarket's volume, that's $600m weekly flowing through the protocol Now think with Aurion’s angle, A unified liquidity serving both dex + predictions. one pool, 2 revenue streams. capital efficient and perp dex narrative is hot but everyone's building the same thing on different chains. dex + predictions with shared liquidity on legitimately fast infrastructure is different hence why, its worth keeping this one under the radar

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

expecting perp dex meta to make a comeback, Conservative bet: $HYPE Balanced bet: $ASTER Degen bet: $LIT

Name & Symbol: Aster ($ASTER)
Address: 0x000ae314e2a2172a039b26378814c252734f556a

one pattern i keep seeing with most tokens is pretty obvious. > the token comes first > the business comes later… if at all liquidity shows up for incentives and leaves right after and once hype fades, there’s nothing holding it together. the few tokens that actually survive usually do it the other way around. business first. revenue first. users first. token last.. that’s the lens i’m looking at @kernel_dao | $KERNEL through. now zoom out to stablecoins for a second. rn you basically have 2 choices: - safe but capped yields from treasury wrappers - higher yields from funding rates or leverage that only work in good markets what’s missing is obvious imo. there’s no dominant stablecoin product that gives high yield, backed by real-world credit, that still works when markets go sideways. meanwhile, in the real world, businesses already pay 10–15% annually just to manage payment delays, trade finance, and cross-border settlement gaps. this demand exists regardless of crypto cycles. it’s massive and always on. and crypto doesn’t need to invent yield here. it just needs to route capital better. this is where Kernel quietly gets interesting. the market still prices $KERNEL like it’s just a restaking token but structurally, it’s already more than that. what’s live today: - $2.2B+ TVL already managed - Kelp leading ETH LRT with ~$1.6B - Gain running top-performing yield vaults - 350k+ users across 10+ chains - real revenue already flowing this isn’t a team waiting to ship. it’s already operating. the real shift comes with KUSD. KUSD adds a revenue engine. targeting ~10–12% APY, sourced from real payment settlements and trade finance. not treasuries. not funding rates. not leverage loops. at scale, the math speaks for itself. $10B deployed with a ~1% take is $100M+ in annual revenue. that revenue flows back into the Kernel ecosystem and compounds across restaking, vaults, and credit rails. and that’s why this matters for pricing. today, people see a restaking token. post-KUSD, the correct frame is revenue-generating RWA credit infrastructure the advantage Kernel has is simple. it’s not building this from zero. it already has: - distribution via @KelpDAO - yield expertise via Gain - credit rails via Kred - proven scale very few RWA teams can say that. imo this cycle won’t reward tokens designed to be sold. it’ll reward tokens designed to own real economic flows and $KERNEL just happens to be priced like the former, while quietly becoming the latter. that gap is the opportunity.

Name & Symbol: GriffinAI ($GAIN)
Address: 0xa890f8ba60051ec8a5b528f056da362ba208a96f

Quite a sleek app from @defiapp ngl good to see teams finally expanding into mobile, a territory CEXs have owned for years they went all in with perps, spot, and earn packed into one non-KYC mobile app and imo, that’s their biggest edge over most CEXs who still want your KYC and custody btw perps run on Hyperliquid, so you’re basically trading Hyperliquid right from your phone pretty good ship for $HOME here

Name & Symbol: Defi App ($HOME)
Address: 0x4bfaa776991e85e5f8b1255461cbbd216cfc714f

markets have been pretty cold lately and most people are derisking wherever they can. but the stats of @XPINNetwork says something else instead of people exiting, users are actively depositing $XPIN into the network’s yield and payment infrastructure. total deposits just crossed 3.7B XPIN and are still climbing. that’s btw capital being committed, not just traded what’s driving that is: > Stripe payments are live: web2 users can onboard in ~30 seconds, no wallet friction. works across 149 countries, and the network auto-switches when you move borders. that’s real PayFi, not theory. > deposit yields are still competitive: flexible deposit around 41% APY. loyalty deposit (4-year) shows why people treat it like a yield engine.. high APR with compounding, and capital efficiency early on. > price & holder behavior: 73k holders, price still sitting around 4× launch, despite market chop. projects with actual usage don’t need to force momentum. Xpin infrastructure is quietly getting adopted… DePIN + payments is a hard problem and they’re solving it piece by piece. worth keeping an eye..

Name & Symbol: XPIN Network ($XPIN)
Address: 0xd955c9ba56fb1ab30e34766e252a97ccce3d31a6

Only logical solution for this is having a Multisig There are so many browser based targeted attacks on crypto wallets and extensions since last year Sharing my setup: I made 3 fresh wallets using MM, Rabby and a local offline wallet, then created a 2 of 3 multisig. > Signer 1: MM on PC > Signer 2: Rabby on phone > Signer 3: local wallet stored offline To move any funds, at least two of these have to sign. So if my browser MM wallet gets exploited, the hacker still can’t move shit without the other 2 signers. If my phone gets stolen, I still recover using the offline wallet. This basically removes the single point of failure imo. There are good multisig options across most chains btw. - @safe pretty well known - @SquadsProtocol on Solana - @vultisig good MPC multisig I picked 2/3 because it’s the sweet spot for convenience. you can go higher if you want more safety. Stay safe guys.

Name & Symbol: MOMOFUN ($MM)
Address: 0xa5346f91a767b89a0363a4309c8e6c5adc0c4a59

One thing I pay attention to in a choppy market is what still attracts real volume. $RAVE has been quietly doing that. In its first week post TGE, it crossed $100M+ spot volume on Aster, and just printed $375M+ in a single day on the RAVE/USD1 pair. That’s the highest daily volume Aster has ever seen. What stands out to me is that this isn’t just a one off spike. - zero-fee trading drove early participation •- iquidity stayed deep - price is still trading well above launch levels - derivatives on Binance & HTX helped with price discovery - listings expanded to Bitunix (spot + futures) - OKX ran a $500K trading competition - OKX Wallet launched an X campaign with a 500K USDT pool At the same time, community traction looks good.. $RAVE is sitting #1 in Korean mindshare, which usually doesn’t happen unless there’s actual engagement behind it. The other thing CT keeps pointing out, and I agree here, is the launch structure. No ICO. No IDO. No VC bags. No early unlock overhang. That matters, especially when most launches struggle under sell pressure early on. I’m not saying this is risk-free or that it goes up forever, but relative to the market, @RaveDAO has been an outlier so far. Real volume, organic flows and a launch that let the market decide. Worth keeping an eye on, imo.

Name & Symbol: Aster ($ASTER)
Address: 0x000ae314e2a2172a039b26378814c252734f556a

One thing I pay attention to in a choppy market is what still attracts real volume. $RAVE has been quietly doing that. In its first week post TGE, it crossed $100M+ spot volume on Aster, and just printed $375M+ in a single day on the RAVE/USD1 pair. That’s the highest daily volume Aster has ever seen. What stands out to me is that this isn’t just a one off spike. - zero-fee trading drove early participation •- iquidity stayed deep - price is still trading well above launch levels - derivatives on Binance & HTX helped with price discovery - listings expanded to Bitunix (spot + futures) - OKX ran a $500K trading competition - OKX Wallet launched an X campaign with a 500K USDT pool At the same time, community traction looks good.. $RAVE is sitting #1 in Korean mindshare, which usually doesn’t happen unless there’s actual engagement behind it. The other thing CT keeps pointing out, and I agree here, is the launch structure. No ICO. No IDO. No VC bags. No early unlock overhang. That matters, especially when most launches struggle under sell pressure early on. I’m not saying this is risk-free or that it goes up forever, but relative to the market, @RaveDAO has been an outlier so far. Real volume, organic flows and a launch that let the market decide. Worth keeping an eye on, imo.

Name & Symbol: RaveDAO ($RAVE)
Address: 0x97693439ea2f0ecdeb9135881e49f354656a911c

i have been rotating into simpler, low stress farms lately, so Resolv season 4 dropping today is pretty good timing. what i like is they didn’t change the core meta from S3: - same top point farms: leveraged USR & RLP positions on Fluid / Morpho / Inverse (up to ~10x) - and wstUSR / RLP YTs on Pendle still sit at the top of the table It will go on from today Dec 9, 2025 → Apr 9, 2026 and 2.5% of total token supply allocated to S4. the main change is the boost system: - stRESOLV boost is now based on amount of stRESOLV, not USD value - formula: stRESOLV amount / total USD value of your activities - up to +100% boost if you size it right - Blueprint NFT still gives +25% - referrals stay the same → +20% boost for referees, and referrers get 10% of referee points on top of that, S4 is the first season with liquid partner rewards: - 120,000 ETHFI earned via Resolv’s weETH exposure - streamed to stRESOLV holders over 3 months (until March 3, 2026) - so if you’re staked, you’re stacking both points + ETHFI at the same time nice! clearly, they’re pushing Resolv as a stable, low risk yield layer that can plug into custodians, asset managers, exchanges, etc.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

i have been rotating into simpler, low stress farms lately, so Resolv season 4 dropping today is pretty good timing. what i like is they didn’t change the core meta from S3: - same top point farms: leveraged USR & RLP positions on Fluid / Morpho / Inverse (up to ~10x) - and wstUSR / RLP YTs on Pendle still sit at the top of the table It will go on from today Dec 9, 2025 → Apr 9, 2026 and 2.5% of total token supply allocated to S4. the main change is the boost system: - stRESOLV boost is now based on amount of stRESOLV, not USD value - formula: stRESOLV amount / total USD value of your activities - up to +100% boost if you size it right - Blueprint NFT still gives +25% - referrals stay the same → +20% boost for referees, and referrers get 10% of referee points on top of that, S4 is the first season with liquid partner rewards: - 120,000 ETHFI earned via Resolv’s weETH exposure - streamed to stRESOLV holders over 3 months (until March 3, 2026) - so if you’re staked, you’re stacking both points + ETHFI at the same time nice! clearly, they’re pushing Resolv as a stable, low risk yield layer that can plug into custodians, asset managers, exchanges, etc.

Name & Symbol: Resolv ($RESOLV)
Address: 0xda6cef7f667d992a60eb823ab215493aa0c6b360

Altcoins finally started moving again…and if this momentum lasts a few more weeks buyback meta could come back And if that happens, these are the protocols worth keeping an eye on: - $HYPE – ~$83M in buybacks - $ASTER – ~$52M - $PUMP – ~$21M ( One of the few doing 100% revenue buybacks )

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Altcoins finally started moving again…and if this momentum lasts a few more weeks buyback meta could come back And if that happens, these are the protocols worth keeping an eye on: - $HYPE – ~$83M in buybacks - $ASTER – ~$52M - $PUMP – ~$21M ( One of the few doing 100% revenue buybacks )

Name & Symbol: Aster ($ASTER)
Address: 0x000ae314e2a2172a039b26378814c252734f556a

$SOON looks interesting here tbh. it’s literally back at the same zone where the whole move started. still can bleed if the market keeps puking, but this is usually where I start paying attention.. not when it’s already vertical. but the main reason I’m watching it rn isn’t the chart… it’s the flywheel they’ve quietly been building underneath all that hype.. if you zoom out a bit: $SOON already had its run, but most people on my timeline didn’t realise how many verticals they were shipping while price was running. and that matters in this kind of market.. where only real volumes, real infra, and sticky products survive. and $SOON is basically sitting across 3 narratives that were hot before… and could easily rotate back: 1) x402 narrative: 10sSOON absolutely nuked x402 on launch.. - highest volume - highest buyer count ever - multiple rounds sold out x402 traffic even pushed Coinbase’s facilitator offline for a bit. now they’re building their own high performance facilitator just to handle the load. that’s actual infra demand, not some “pump mini-game” cycle. 2) Perp DEX + trading infra: their Infra Stack + Perp Stack lets enterprises build Solana/Hyperliquid grade systems on top of SOON. on chain settlement, high speed execution, multi ecosystem liquidity. funds are watching this narrative heading into 2026. 3) Social + AI-driven trading: simpfor. fun is one of the few copy-trading products with real numbers: - 12k DAU - $45M+ daily volume - 180k users - 600+ creators now they’re pushing Alpha Arena.. Ai managed portfolios tracking smart money in real time. fits perfectly with the “agent economy” meta where AI starts making trading decisions for humans. and all of this loops into their flywheel: brand → products → on-chain data → community → expansion → listings → stronger flywheel and the momentum is visible: - CMC top 100 - listed on all 4 regulated Korean exchanges - korean traction is crazy (pop-ups, KOLs, media, organic hype) - expansion across BSC, Base, Solana - 164M $SOON locked to reduce unlock pressure - shipping something major basically every quarter so yeah, chart looks rough because everything is bleeding… but FA wise, $SOON is one of the few ecosystems that didn’t stop building after the hype cooled down. I’m watching how it reacts around this zone. if the market stabilises, wouldn’t be surprised if @soon_svm multi-product, multi-chain, multi-narrative setup starts catching bids again especially with 2026 shaping up to be the year AI agents and trading infra go mainstream. I have accumulated some on spot.. 🫡

Name & Symbol: SOON ($SOON)
Address: 0xb9e1fd5a02d3a33b25a14d661414e6ed6954a721

Binance long/short ratio is now at 2.3x… means for every 1 short, there are 2.3 people trying to long this dip.. what type of clown behaviour is this lol 🤡 market doesn’t even need bears.. these perma longers are begging for a flush here’s why this is bearish: - when longs pile up like this, market makers see an easy liquidity pool above - the higher the long imbalance, the more incentive there is to push price down - every time these leveraged bottom buyers get liquidated, it adds more forced sell pressure - creates cascading liquidation chains, which is exactly what we’ve been seeing the past few days

Name & Symbol: Belong ($LONG)
Address: 0x9eca8dedb4882bd694aea786c0cbe770e70d52e3

Gm ☀️ we’ll only realise it in hindsight that there will come a morning where we’ll look back at all this fear and chop and say “yeah man, the ATH was obvious.” for now i’m just waking up, taking it day by day, and hoping that “that morning” shows up sooner than later

Name & Symbol: Aethir Token ($ATH)
Address: 0xbe0ed4138121ecfc5c0e56b40517da27e6c5226b

Lighter raised $68M at a $1.5B valuation As someone who took a hit during the 10/10 crash while farming on their platform… this raise feels good to see may my lighter points cover up those liquidation scars congrats @vnovakovski next, i’d love to see public ICO on Echo / Sonar or Coinbase.. ideally above $2B+ hehe

Name & Symbol: Echo Protocol ($ECHO)
Address: 0x06238c1b8e618abedf17669228dc95fb2d2e210b

Just like you all, im too thinking a lot about where this market could actually bottom.. stocks have been going up while crypto kept dumping, and honestly that’s not something you see often. usually crypto follows risk on moves, but this time it kinda front ran the weakness. now SPX looks tired, it’s already down around 1.5% today, and if equities start correcting from here, i think we could see one more brutal flush in crypto. those oct 10 crash wicks could easily get revisited.. :( and for me, that’s where the real bottom forms. when stocks start pulling back, open interest nukes again, funding goes deep negative, and people start calling for $60K $BTC and $2K $ETH that’s when i’ll start buying slowly. not trying to catch knives here atm or time the exact bottom, just scaling into spot when it feels the worst and liquidity completely dries up.

Name & Symbol: SPX6900 ($SPX)
Address: 0xe0f63a424a4439cbe457d80e4f4b51ad25b2c56c

The AI agent economy is still mostly untapped.. most agents rn are just assistants the real leap is when agents become economic entities - with their own identity, revenue streams, and verifiable work Projects like @wardenprotocol are ahead here their full-stack Global Agent Network gives agents the infra to: ▸ have on-chain IDs ▸ earn revenue from user interactions ▸ have activity verified via Proof of Agent Work Like their Base Farmer agent automates on-chain interactions farming you potential airdrops Even built BetFlix - a swipe-based prediction market, kinda like Tinder but for token prices They're doing $1.7M revenue, 9M agent transactions, 10M+ users in just 4 months Worth positioning for this one imo - they got a Kaito collab and you can farm PUMP points using their platform one of the few projects actually shipping agent economy infra

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

My watchlist for the week: $BTC → Two major macro events back t back. The FOMC meeting on Wednesday, followed by the Trump - Xi meeting on Thursday. Rate cuts and trade deal could set the tone for risk assets into November. If Powell sounds dovish and US China trade deal confirms, expect capital rotation back into crypto. $VULT sale on Kaito $MEGA → MegaETH’s public phase opens Monday and closes Thursday. This is one of the most anticipated L2 launches this cycle. Registration stays open for 20 more hours, check my last post. $MMT → MMT Finance kicks off its contribution phase Monday at 10 AM UTC. $MON → Monad’s early reveal begins Tuesday. Those who are qualified can finally see their allocation. I think this could cook well for so many people. $ETH → BlackRock’s ETH staking fund deadline hits October 30. With multiple ETF filings delayed due to the U.S. shutdown, this one will be interesting to watch. Grayscale ETH staking was approved during shutdown, so this one could happen too. $SUI → Around $146.4 M in SUI tokens unlock next week, one of the biggest monthly unlocks. $GRASS → $80.8 M in token unlocks coming up. Expecting spot trading on @Lighter_xyz to go live this week.. and maybe a memecoin airdrop too from lighter to its users.. 👀 Bookmark this, so you don't miss it.

Name & Symbol: Grass ($GRASS)
Address: Grass7B4RdKfBCjTKgSqnXkqjwiGvQyFbuSCUJr3XXjs

Seeing @megaeth_labs | $MEGA talks everywhere lately and after going through the raise details and the whitepaper, I’m honestly aping into this one with size. Sharing everything you should know before aping: 👇 raise goes live Oct 27–30 on Echo (Coinbase-owned). you’ll need to KYC, connect your wallet via Sonar, and probably link socials or GitHub. feels more like a structured allocation process than a typical free-for-all ICO. what’s interesting here is who’s behind it, Vitalik, Joseph Lubin (Consensys/MetaMask), and Dragonfly all have skin in the game. this is the fourth raise, but the first time retail gets a seat. earlier rounds were private seed, Dragonfly-led, then an Echo round at a $220 M FDV, and a Fluffle NFT round that’s already up massively. now the current one starts at roughly $1B FDV, while the pre-market on Hyperliquid is trading near $4.8 B FDV.. basically a 5× premium. that gap alone is what’s catching my attention. you’re literally getting in at one fifth of what secondary markets are already valuing it at. minimum entry sits around $2.65K, max per wallet about $186K. I’m going heavier than usual on this one.. not because it’s risk free, but because the setup and backers look too strong to ignore. → here’s how the timeline plays out: - registration & raise → Oct 27 – 30 - allocation results / refunds → early Nov - mainnet → Dec 2025 - TGE → Jan 26 2026 so, keep in mind funds will be locked for a few months. that’s fine by me.. I’m treating it as a conviction bet, not a flip. the best part: 100 % unlock at TGE (except U.S. investors, who face a 1-year cliff). no weird vesting schedules, no extended emissions. straight access. they’re also planning a bonus campaign once mainnet’s live.. you can double your allocation if you stay active on-chain for 30 days. I like that design. it rewards actual participation instead of mercenary capital. → on allocation chances, it’s not random. they’ll check: - your wallet history on both ETH and MegaETH testnet - your NFT holdings (Fluffle, MegaBuns, MegaAllios) - your past support measured through Kaito leaderboard so I’ve linked my primary wallets, connected socials, and made sure my testnet activity shows up. obviously, there’s risk. the TGE’s in January and crypto sentiment can flip hard in 3 months. if we’re in a cold patch by then, initial returns could compress fast. but the other side of that: if the market’s hot, this thing could explode right out the gate. I’ve seen how earlier Echo rounds performed like remember $XPL ? .. some returned multiples before even unlocking. given @megaeth_labs positioning and the fact Coinbase now owns Echo, I won’t be surprised if there’s a day one listing too. so yeah.. I’m aping in with decent size. not because of FOMO, but because the fundamentals and setup line up better than most launches I’ve seen this year. worst case, it’s locked capital for a quarter. best case, it becomes the next narrative base layer backed by the same minds that started Ethereum itself. let’s see how this plays out. its one of those bets where you either look stupid for a month… or smart for a cycle.

Name & Symbol: Echo Protocol ($ECHO)
Address: 0x06238c1b8e618abedf17669228dc95fb2d2e210b

My watchlist for the week: $BTC → Two major macro events back t back. The FOMC meeting on Wednesday, followed by the Trump - Xi meeting on Thursday. Rate cuts and trade deal could set the tone for risk assets into November. If Powell sounds dovish and US China trade deal confirms, expect capital rotation back into crypto. $VULT sale on Kaito $MEGA → MegaETH’s public phase opens Monday and closes Thursday. This is one of the most anticipated L2 launches this cycle. Registration stays open for 20 more hours, check my last post. $MMT → MMT Finance kicks off its contribution phase Monday at 10 AM UTC. $MON → Monad’s early reveal begins Tuesday. Those who are qualified can finally see their allocation. I think this could cook well for so many people. $ETH → BlackRock’s ETH staking fund deadline hits October 30. With multiple ETF filings delayed due to the U.S. shutdown, this one will be interesting to watch. Grayscale ETH staking was approved during shutdown, so this one could happen too. $SUI → Around $146.4 M in SUI tokens unlock next week, one of the biggest monthly unlocks. $GRASS → $80.8 M in token unlocks coming up. Expecting spot trading on @Lighter_xyz to go live this week.. and maybe a memecoin airdrop too from lighter to its users.. 👀 Bookmark this, so you don't miss it.

Name & Symbol: Grass ($GRASS)
Address: Grass7B4RdKfBCjTKgSqnXkqjwiGvQyFbuSCUJr3XXjs

Seeing @megaeth_labs | $MEGA talks everywhere lately and after going through the raise details and the whitepaper, I’m honestly aping into this one with size. Sharing everything you should know before aping: 👇 raise goes live Oct 27–30 on Echo (Coinbase-owned). you’ll need to KYC, connect your wallet via Sonar, and probably link socials or GitHub. feels more like a structured allocation process than a typical free-for-all ICO. what’s interesting here is who’s behind it, Vitalik, Joseph Lubin (Consensys/MetaMask), and Dragonfly all have skin in the game. this is the fourth raise, but the first time retail gets a seat. earlier rounds were private seed, Dragonfly-led, then an Echo round at a $220 M FDV, and a Fluffle NFT round that’s already up massively. now the current one starts at roughly $1B FDV, while the pre-market on Hyperliquid is trading near $4.8 B FDV.. basically a 5× premium. that gap alone is what’s catching my attention. you’re literally getting in at one fifth of what secondary markets are already valuing it at. minimum entry sits around $2.65K, max per wallet about $186K. I’m going heavier than usual on this one.. not because it’s risk free, but because the setup and backers look too strong to ignore. → here’s how the timeline plays out: - registration & raise → Oct 27 – 30 - allocation results / refunds → early Nov - mainnet → Dec 2025 - TGE → Jan 26 2026 so, keep in mind funds will be locked for a few months. that’s fine by me.. I’m treating it as a conviction bet, not a flip. the best part: 100 % unlock at TGE (except U.S. investors, who face a 1-year cliff). no weird vesting schedules, no extended emissions. straight access. they’re also planning a bonus campaign once mainnet’s live.. you can double your allocation if you stay active on-chain for 30 days. I like that design. it rewards actual participation instead of mercenary capital. → on allocation chances, it’s not random. they’ll check: - your wallet history on both ETH and MegaETH testnet - your NFT holdings (Fluffle, MegaBuns, MegaAllios) - your past support measured through Kaito leaderboard so I’ve linked my primary wallets, connected socials, and made sure my testnet activity shows up. obviously, there’s risk. the TGE’s in January and crypto sentiment can flip hard in 3 months. if we’re in a cold patch by then, initial returns could compress fast. but the other side of that: if the market’s hot, this thing could explode right out the gate. I’ve seen how earlier Echo rounds performed like remember $XPL ? .. some returned multiples before even unlocking. given @megaeth_labs positioning and the fact Coinbase now owns Echo, I won’t be surprised if there’s a day one listing too. so yeah.. I’m aping in with decent size. not because of FOMO, but because the fundamentals and setup line up better than most launches I’ve seen this year. worst case, it’s locked capital for a quarter. best case, it becomes the next narrative base layer backed by the same minds that started Ethereum itself. let’s see how this plays out. its one of those bets where you either look stupid for a month… or smart for a cycle.

Name & Symbol: Plasma ($XPL)
Address: 0x405fbc9004d857903bfd6b3357792d71a50726b0

Not sure how long $PUMP stays at these levels tbh $150M+ in buybacks within 3 months.. literally all of its revenue cycling back in 9.4% of total supply already off the market these numbers are insane. imo this will recover in no time if we see even a slight rotation on solana https://t.co/tefWd541nU

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Not sure how long $PUMP stays at these levels tbh $150M+ in buybacks within 3 months.. literally all of its revenue cycling back in 9.4% of total supply already off the market these numbers are insane. imo this will recover in no time if we see even a slight rotation on solana https://t.co/tefWd541nU

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Didn’t know my @defiapp wallet was eligible for Monad airdrop lol.. Might be cuz of my perp activity there, but yeah if you’ve used Defiapp you should check yours too If you haven’t, would honestly recommend trying it - by far one of the smoothest DeFi infra I’ve used You can do perps, yield farming, cross-chain, literally everything under one hood Just gotta sign up with email and that’s it, kinda like a self-custodial on-chain version of a CEX Mobile app dropping in November too afaik Also 80% of platform revenue goes into $HOME buybacks, they’re pretty much nailing both tech and token flywheels rn..

Name & Symbol: Defi App ($HOME)
Address: 0x4bfaa776991e85e5f8b1255461cbbd216cfc714f

Is $PROVE the only privacy infra exposure to Koreans? Since 2019, Upbit delisted major privacy coins like XMR, ZEC, and DASH for compliance. Not an official ban, but in practice it cut off on-exchange access to privacy assets in Korea. Except one stayed: $PROVE. Because it’s not a private currency. It’s ZK infra, the tech that powers scaling, verification, and privacy for real-world use cases. ▸ Privacy coins: hide transaction details ▸ ZK infra: proves validity without leaking data That difference makes $PROVE compliant, accessible, and basically the only privacy-related play for Korean investors right now. @SuccinctLabs is already running the lane, used by 35+ crypto projects and securing $4B+ on-chain. It’s also getting integrated into new verticals like perps (Lighter) and compute (Cysic). PA is wild too, one of the few tokens to eat the Oct 10 dump and fully recovered

Name & Symbol: Succinct ($PROVE)
Address: 0x7ddf164cecfddd0f992299d033b5a11279a15929

It’s been a rough month, yeah..but also kinda rewarding Slowly making back what I lost 4th W of the month..After: - Monad top tier “community last” eligibility - $YB allocation - Momentum deed NFT eligibility - And now $MET allocation Bit by bit, getting back in rhythm again https://t.co/YqPG3eoL0I

Name & Symbol: Yield Basis ($YB)
Address: 0xfb93ee8152dd0a0e6f4b49c66c06d800cf1db72d

It’s been a rough month, yeah..but also kinda rewarding Slowly making back what I lost 4th W of the month..After: - Monad top tier “community last” eligibility - $YB allocation - Momentum deed NFT eligibility - And now $MET allocation Bit by bit, getting back in rhythm again https://t.co/YqPG3eoL0I

Name & Symbol: Yield Basis ($YB)
Address: 0xfb93ee8152dd0a0e6f4b49c66c06d800cf1db72d

Using Base organically pays off Previously talked about @b3dotfun and their product @anyspend, and they just dropped $ANY to early users It's basically a clean cross-chain onramp where you can move any asset or fiat to any chain without bridging S2 airdrop campaign is live and not too diluted yet so worth adding to your Base farming loop imo Use it for deposits, swaps or trading → earn points 5% of total supply was allocated for last season Link: https://t.co/aBFuJjLNCu Really like how it’s built - smooth UX for normies to onboard, and under the hood a flywheel where txn fees feed back into $B3 and $ANY

Name & Symbol: B3 ($B3)
Address: 0xb3b32f9f8827d4634fe7d973fa1034ec9fddb3b3