Zach Pandl

Head of Research @grayscale. Opinions are my own. Disclosure:

[Zach Pandl @LowBeta]

Read and subscribe to Grayscale's crypto research blog The Stack https://t.co/Lp4OgzctcL

[Zach Pandl @LowBeta]

@transmissions11 Not for the faint of heart

[Zach Pandl @LowBeta]

https://t.co/vANLRjnCLR

Just in case

[jack @jack]

🥇

[Zach Pandl @LowBeta]

The gold chart looks rough

[Zach Pandl @LowBeta]

Parabolic oil price ahead of midterms can't be good for incumbents

[gustavo am @gustavo_xAM]

Most overnight successes aren’t in fact, overnight. 🎉🎈🎂

[The Zcash ETF 🛡️ @ZcashETF]

2017: Grayscale Zcash Trust launches.
2026: $ZCSH is uplisted as an exchange-traded product.

9 years of conviction in private digital money. Happy birthday, $ZCSH.

[Zach Pandl @LowBeta]

@binji_x Where can we participate? Only if at Devcon?

[Zach Pandl @LowBeta]

@coinbase I’ve always found the molded “bones” disturbing

[Zach Pandl @LowBeta]

@binji_x Stay radicalized

[Zach Pandl @LowBeta]

@callebtc 🎉

[Zach Pandl @LowBeta]

@0xINFRA We do our best to source accurate data. Appreciate any help from the teams and/or data vendors.

[Zach Pandl @LowBeta]

Physical Bitcoin mentioned

[Marathon Fusion @MarathonFusion]

Last month, we demonstrated high-rate alchemy: turning mercury into real, stable gold, beating CERN’s record by a factor of 10.

Last week, we enriched isotopes in the world’s most powerful plasma centrifuge, beating the Soviet record that stood for 40 years.

Now, we’re building a fusion reactor in San Francisco to achieve record power density.

[Charlie Perkins @charlieperk4]

"Token Value Accrual" is one of the most commonly used phrases... but what does it really mean?

The relationship between capital returns (buybacks, burns, staking) and token supply (vesting, emissions, etc.) is critical to evaluating token valuation analysis.

[Grayscale @Grayscale]

Top 10 Tokenholder Yield: $HYPE, $LIT, $CAKE, $AERO, $UNI, $RAY, $PENDLE, $AAVE, $JUP, $CRV

Top 10 Adjusted Earnings Yield: $CAKE, $LIT, $HYPE, $RAY, $AAVE, $JUP, $SKY, $UNI, $AERO, $PENDLE

Crypto valuations don’t have to rely on narratives alone. Many crypto assets can be valued on their cash flows, earnings, and capital returned to tokenholders. Read more on The Stack: https://t.co/mlaf3UvXIa

[gustavo am @gustavo_xAM]

*most things are DCF.

Love that this topic is (finally) becoming more prominent in this asset class.

Check this out from @Grayscale

Crypto valuations don't have to rely on narratives alone. Onchain applications generate measurable economic value through earnings and capital returns, providing investors with a foundation for fundamental valuation.

@LowBeta @charlieperk4 🤝

https://t.co/SIxZXktGKh

[Zach Pandl @LowBeta]

@Austin_Federa Yep

[Zach Pandl @LowBeta]

🔥🔥🔥

[Frank Chaparro @fintechfrank]

Scoop via @axios: Visa in talks to acquire Fireblocks for around $2.5B

https://t.co/Xd6oyaoICV

[Zach Pandl @LowBeta]

@btschiller 🟠🟠🟠

[Zach Pandl @LowBeta]

Fitting that Bitcoin Bad Boy played at the Chain Theatre

It was a super fun story about Bitcoin, memecoins, pardons, and true believers

Last show is on Sunday

[Zach Pandl @LowBeta]

The former managing editor of CoinDesk is putting on an off-Broadway play called Bitcoin Bad Boy

It sounds hilarious

Tickets and info: https://t.co/T3NP13YoCk

[Zach Pandl @LowBeta]

@gracescale2025 But you’re going to be hot in that jacket in Mexico! ☀️