solana:6Mix12LiHrQFojaQEnfPUC65Qkwd6X4Y5Qg93oFbordr is the easiest hold. So many catalysts to bring its valuation up. All the solana infrastructure know what they've done is innovative. Every integration reprices the coin. A solid runner on the platform rerates the coin.

Wow @charli_xcx made a song about solana:7LxC96Ag4DnBotK6bMMUj4kdneAo1kdV1xHnzVF5s7W2 https://t.co/ldelabzJ7b

In case you’re wondering why a bunch people are bull posting PUMP suddenly out of nowhere https://t.co/SORABNhgDh

Lord forgive me I bought some xpl

The $CAP token is officially live. As we enter the next phase of our company's development, we'd like to share important information about the token. https://t.co/s2xnuL4ibY

Projected HYPE bonus APR is now available on the @NestExchange UI. Currently, new NEST locked or added to the HYPE Engine Vault receives a 662% APR bonus in HYPE next epoch. This is a 12.7% single epoch bonus in HYPE! Lockmaxxing. https://t.co/u0ddmnxx7X

$NEST is up 48x from the bottom you had over 2 months to buy the $AERO of hyperliquid under 200K Mcap but you faded it because “hyperEVM projects can’t go up https://t.co/nrk9VMOA6k

Now that hype broke ATH you’ll see majors slowly lose support and go to hades.

I don't believe any perp DEX on Solana is going to gain traction now in 2026 Hyperliquid is too good and too dominant, there's no 100x improvement that would make people switch, I don't think think token incentives will work in this market either Solana backed the wrong horse with Drift, which any trader could have told them was a massive piece of shit with a horrible user experience

So drift gets hacked for 300m and all they think about is shilling the next perp dex that will fail down your throat haha

Just realize the massive gap. A Solana co-founder is literally crawling through comments begging traders to use Phoenix – yet another garbage project that raised $44.3M and will most likely deliver nothing. Imagine if Jeff was doing door-to-door sales like this. His reputation would be finished in a day. Meanwhile, paid tourists are crying that Hyperliquid has higher fees than Phoenix, but can’t even explain what Hyperliquid actually is when asked. Bro, we already have Drift and Backpack. I’m fully done with Solana. You’re welcome to trade elsewhere.

.@DriftProtocol are honestly some of the biggest shitbags in crypto and no one should ever trade on their exchange ever again. Raise 53m, spend it on the most retardedly expensive and useless bd and promotion. somehow only have 3.8m left in protocol funds (read: user deposited funds, not company funds) to fund a pool for 300m in debt they created themselves by being negligent on security (which they never admit to). Create a recovery pool which they know will never make users whole with a recovery mechanism that forces users neededing liquidty to sell their claims at fractions of pennies on the dollar. at the end of the the day the founders sit on 53m raised and well more offloaded in 25% of the allocated supply of drift to team. Funds mainly used to pay salaries to team or to aquire users that lost all their money. Going forward none of the remaining funds go to making users whole, instead they will continue to spend in a futile attempt to run a dead business and when everything finally ends the founders will walk away well compensated while the users will hold near worthless recovery rights to a pool of funds built by their trading fees

imagine betting on meteora as a team member knowing u did fraud but zachxbt exposes a diff company

also worth noting the dominant themes of this cycle being the ETFs, DATs, and memes soured a lot of OGs need something much more compelling to get that capital back

Starting to unlock my first few echo investments All of them are zeros Not like no gain or down 50% Down 90% or more. From seed. Incredible stuff

Will Zerebro ever make a new ATH?

Will Fartcoin ever make a new ATH?

XPL chart is insane

Some quick $0.02 about tokens - as a pre-cursor to an article I hope to drop later this week. 1. Crypto is capital coordination technology. It helps move money, faster. The after effect of that, is capital chases and leaves ventures far faster. When ventures do not understand the side-effects of this, tokens list at high fdv and trend in one direction - downwards. 2. Markets are incentive design systems. VCs have a reason to list at high fdv. Founders have a reason to list at high fdv. Exchanges have a reason to list at high FDV. Market-makers have a reason to list at high FDV. When the high fdv games worked (2021-2023) - nobody was worried about revenue multiples. But markets are also truth machines. ICOs abused retail. So did exchange listings. Now that the marginal bid has gone, we are back to discussing revenue. 3. From a capital efficiency pov, smart contracts allow some of the highest margin businesses. Hyperliquid, Pump, Aave and Uniswap move more capital than most of their traditional peers. Tether is a highly profitable business. The challenge is not with revenue, it is with the lack of rights associated to tokens. You are not going to go buy a token (say UNI) if the foundation can take its own sweet time (six years?) to say - you know, we think the token should accrue value from interface fees. Pump clears a million in fees each day, but what is the person buying the token getting? In current state - crickets. Founders have low incentive to tie revenue to tokens and get tied up in DAO noise (refer Jup). Traditional allocators are not going to come bid something because "it has revenue bro". You need frameworks. Capitalism evolved over four centuries. We are trying to speed-run that in .. *checks notes*.. eight years. 4. DATs opened the kimono. We are now talking to TradFi. People want to understand the why. Most projects with lindy effects on revenue (hyperliquid?) trade at comparables to traditional fintech counterparts. AI becoming a high volatility avenue, alongside tariff drama meant people had no reason to come play around crypto (for vol). Those offerings are now in the equities market. 5. I think a huge reason why crypto struggles for relevance is we have the peter pan effect still going on. L2s gather around parties, ecosystem leads bicker on the feed while founders with revenue and scale struggle to find home. Marketing leads look at clicks and eyeballs instead of who is watching. The hyperbole feeds to the rot in the system. Year after year, the rot makes the system crumble - and you are left with what we have now. An ecosystem of L1s and L2s that have 10x more users, apps and revenue than 2022 - but with nobody valuing them. 6. TradFi companies struggle with revenue too. They also struggle with governance. The difference is there is forward leaning optimism and incentives for people to stick around. Startup equity can blow up to be worth nothing overnight in the traditional world (rippling vs deel?) - but there are large pools of capital that stabilise ecosystems. In crypto, said capital formation has not happened yet. Large funds (PE, hedge funds) - formed in 2022, but have mostly been burned (coatue, tiger, softbank) betting on liquid tokens. The managers that could bridge these pools of capital have low incentives to stick around when the game is based on social signaling and exchange listings. 7. I think every founder in the industry has one core challenge - finding pools of capital that are here to stick. For VCs, the problem is the same. Finding founders that are here to stick. Both are hard challenges when VCs hedge and founders call it a day 18 months in (story, aptos). The premia has eviscerated because trust has vanished. Thinking revenue fixes it, or techno-optimism will fix it, is akin to thinking putting together all the parts of a plane in a garage will have it fly. You need these parts arranged (governance, revenue, incentives, ecosystem) - from the get go. The difference between the apple/windows/linux discourse and crypto - is that the former had passionate people that were not selling their equity every 18 months. These things take time. All of these are issues that emerge in all technological cycles. I don't think there's a single fix to it. Perhaps, being honest about what's broken is a good place to start.

I think people continue to misdiagnose the problem The problem isn’t that buybacks have no impact on price (it’s the symptom) The root cause is and will continue to be that there’s no holder/investor protection baked into the token (legally & onchain) These buybacks are not enforceable and alon could tomorrow wake up and no longer feel like he wants to participate in this game and you can’t do shit (the market is pricing that in) For tokens with holder protection onchain/legal (like meta, avici and the meta eco) you don’t need buybacks cause you own the treasury. Value accrues to the treasury and the loop is complete What can we do now? > Ask for teams to pick between tokens and equity and stick to one > if you pick tokens don’t half ass it and pick a structure that empowers the token holders with rights

- crypto on the presidential stage - circle ipo - fartcoin on CBS: The Late Show - trump & melania celeb coins - public companies rebrand as a crypto trade - backlog of shitcoin etfs - coinbase buys $25m uponly nft - zcash is pumping

It keeps seeming like a great place to long Yet it keeps going down

Financials farming After reviewing dozens of private crypto companies over the past 12 months, I've noticed a trend no one talks about: most of them run Canton validator nodes and book validator rewards as recurring revenue (even pre-TGE). It's just like airdrop farming (with companies instead of degens): - Projects farm activity - & Companies get prettier financials (on paper)

I wish we’d make new ATHs before 2026 Not for the sake of my portfolio Just to see crypto prove what it's capable of, once again

So Coinbase has lending on through Morpho on their app Are these deposits fucked? I think they were most (if not all) in stakehoise vaults https://t.co/Zq2uXRIM75

67 is a really great example of how cooked the trenches have been Been all over the internet for a while now Many different attempts to send a 67 related coin None of them with any lasting bid Pnut and moodeng and chillguy are laughing at us The trenches are have lost all motion Powerless

Fc btc, eth, sol, hype, pump, zec, virtual https://t.co/UzeE5dRyP6

all the stuff I'm farming rn stables: HLP cap usdai ethereal felix infinifi plasma liminal vincent liquid hype: kinetiq ventuals hyperlend project x hyperbeat hyperwave sol: bulk kamino what am I missing? also lmk if you want ref link to any of these https://t.co/her7VfXe5e

all the stuff I'm farming rn stables: HLP cap usdai ethereal felix infinifi plasma liminal vincent liquid hype: kinetiq ventuals hyperlend project x hyperbeat hyperwave sol: bulk kamino what am I missing? also lmk if you want ref link to any of these https://t.co/her7VfXe5e

Fc BTC, eth, sol, hype, pump, xpl, bnb, zec 4hr https://t.co/MgMPmam2DH

Fc BTC, eth, sol, hype, pump, xpl, bnb, zec 4hr https://t.co/MgMPmam2DH

ICO era is net positive for crypto and for pricing new launches. Plasma first and now MegaETH and I'm hearing of another very soon. Looking forward to more competitively priced assets coming to market and forming a real capital markets environment as a result.

Had completely forgotten that Fartcoin was an AI coin originally cause Goat mentioned it Cc: @whosknave

CZ/Binance have done everything in his power to harm Hyperliquid and it's users. - $XPL cascade - $kHYPE depeg attempt - Blatantly horrible execution on HYPE sells at the worst times to try trigger a liquidation cascade. - 10.11 rugged the whole market. Countless events before such as the JellyJelly attempt. Cz / Binance are a parasite to this industry, their sole objective is to defraud everyone else. They counter trade their own users with user funds. They try take down competitors in malicious ways. Boycott Binance and any of their products.

We like the bounce gm https://t.co/d8bKUE1JGk

$PUMP - H4 https://t.co/zccCIWmk6s

112k tomorrow ATH end of month What if?

oh btw, we recently did an oversubbed $2m echo sale, bringing the total raised to $8m no need for fancy designed announcements, thanks to our friends @z00m3rf13d, @comfycapital_, @gametheorizing, @devops199fan and of course @cobie check your emails if you participated gmonad

XPL not moving at all on the Robinhood news? What’s up?

Pump token dropping so much that its buybacks are going to start to have an impact again

Finally did some tallying I have done WAY too much seed rounds Most have actually been non crypto deals which seems better in terms of diversification and risk of getting rugged. Though upside likely more limited and time to liquidity is much longer My crypto seed rounds have been pretty terrible. In no particular order: 1. Been a few years. Pivoted a couple times and still trying to find pmf 2. Currently soft rugging 3. Hard rug. Pretended to build for a couple months. Pivoted. Gave up and cut all communication 4. Launched a product but failed to get pmf and is going to refund investors 50%. This is my best outcome so far!! 5. TGE very soon. Has done public sales at higher valuation. Unclear if product will have enough pmf to have valuation long enough for me to vest and get anything back on investment 6. TGEd and vesting currently. Product doesn’t have much traction. Mcap is right around the valuation I invested in This is not counting anything in Echo cause most is too new / not even close to TGE or even a functioning product. I am a great seed round investor. I have never sold a single token!

That was quickest and deepest alt coin crash crypto has ever seen. Solana worked flawlessly, handling extreme load. Hyperliquid performed better than CEXs, and all other perp DEXs. All major DeFi protocols were robust (AAVE, Fluid, Kamino etc.) with no real issues for their users. Ethena proved itself again (continuing to function with no downtime, and processed mints and burns), and has come out of this event stronger with even more learnings. Onchain finance is the future of finance.

That was quickest and deepest alt coin crash crypto has ever seen. Solana worked flawlessly, handling extreme load. Hyperliquid performed better than CEXs, and all other perp DEXs. All major DeFi protocols were robust (AAVE, Fluid, Kamino etc.) with no real issues for their users. Ethena proved itself again (continuing to function with no downtime, and processed mints and burns), and has come out of this event stronger with even more learnings. Onchain finance is the future of finance.

select takeaways the good - 7 yrs ago btc easily -30-40%+ today, the thing is transcending - dispersion on alts greater than ever, so the space is maturing - btcs behavior shows what some of these other coins can grow into, and they will, eventually the ugly - retail will need to rebuild risk appetite - forward looking derivatives volumes depressed for a while - price action like this reinforces proximity to impending, optimistically: local or more cynically: cyclical, top specifically in crypto, divergence of vol b/w crypto and trad enforces this. It was well overblown for a 4% daily spx move - reflexivity doesn’t need a catalyst, it’s innate - stocks increasingly empirically have similar upside to crypto alts without the gut wrenching downside vol - you could call today an advertisement for alts-> stocks rotation, which has historically been the flow in bear markets. Now with brokerages like HOOD offering both in one spot the rebalance has never been easier. Circuit breakers, market hours, and weekends look more like features rather than nuisances when you get water boarded all friday evening the suss - Someone/group is shamelessly frontrunning US policy info - The speculation on who the above is is rampant while the possibility set is vast (i.e. tapped devices, malware, pure crime etc) - full blown investigation should occur to clear suspicions and provide truth. - On that tangent, a particular market related to US x Venezuela on Polymarket has some rather…informed looking flow. I’m watching this closely - conflict with Venezuela heightens China tensions, another wrench in this situation oh and lastly, it’s all ZECs fault

1/ We recently launched our new @Plasma dashboard, where we track: - Network Fees - User Activity and Transaction Volumes - Stablecoin Transfers and Supply - Tether Reserves and US Debt Dynamics - Plasma DeFi TVL and DEX Volumes https://t.co/yr1Pu0oYoK

Rotation back to hype/pump/Xpl soon

Introducing The Fluid Reserve: Buybacks & Growth Strategy In just 18 months, Fluid has grown into one of the Top DeFi protocols: - $6B+ Total Market Size - Top 3 lending market, with $2.5B in active loans across all chains - $117B+ in cumulative trading volume - #2 DEX by volume and fees on Ethereum and #3 DEX across all chains - Earning $15M+ annualized revenue - #1 in stablecoin swaps USDC/USDT - GHO/USDC - USDE/USDT - #1 fastest-growing lending DAO - @jup_lend, as 2nd Largest lending protocol on Solana. - Fluid Lite ETH Vault: $250M TVL - FLUID first DeFi token investment by a Nasdaq company (@StableXTech) We continue building the most advanced protocol, pioneering the first connected liquidity layer with Smart Debt and Smart Collateral. We’re just getting started. Now, we begin a new chapter. https://t.co/ZuSGznXDPg Buybacks have officially begun. - For the first month, 100% of Ethereum mainnet revenue will go toward buybacks (~$1.7M at current levels). - Executed in smaller transactions for transparency & stability. - A dedicated Fluid Reserve Buyback & Tracking system has been created, with governance guiding the long-term model. The Fluid Reserve is designed to: - Support governance, stability and growth - Align incentives between growth and tokenholders - Build resilience across market conditions This balance of reinvestment and strategic buybacks is key to building a sustainable, resilient DeFi ecosystem. Buybacks are just one piece of the Fluid Growth. Stay Fluid for more.

First show of somewhat strength from XPL

We’re gonna pump so much that even XPL goes up

Plasma has no bottom I am now a long term community member