Some critical levels being tested that we spoke about in the last livestream, worth watching if you missed it:
https://t.co/khIom0wxJQ
If 64K can be navigated, upside sits at 72+
Probably key to a bunch of alt setups I shared too
@QuintenFrancois Adoption is not the same as token value accrual. The market isn’t doubting Chainlink tech — it’s doubting how much of that institutional usage actually flows to LINK holders.
⚡99.5% of the $KAS hashrate is now running the new node version with the Toccata activation logic included.
Just ~24 hours until the Toccata upgrade goes live on mainnet. 🚀
People thinking that the market will top before OpenAI and Anthropic IPO should check their clocks twice
The pace at which investments in inference are returning their principle is still staggering
As long as this is the case, the leveraged circle jerk will remain sustainable, with the odd flush keeping things healthy
Some of the largest financial drivers of this bubble will manufacture the support required to get their exit, in the face of diminishing returns on inference, when prices went too high too far
That is much more likely to become the moment the bubble tops
But, and this is the important caveat, the reason why this military grade technology is also a consumer facing product, is that governments realize that its integration into the fabric of the economy has great growth effects. As this technology expands to the edges of society, productivity increases, or costs go down, or both. This is very likely why the rate of return on inference increases investments remains so healthy.
So it’s a bubble, but it’s making, for now, sustainable returns, measurable across the economy, with at least a couple of trillions left to be realized and extracted.
There is likely to be a leverage unwind to happen this year, met with a solid bid into the remaining IPOs, supported by returns on inference still being strong. With much of that IPO supply locked away for some time remaining, the real AI top marking is likely still ahead of us in 2027 or even 2028.
Somewhere along the way, we completely lost the plot.
Crypto used to reward the people who did the work. You found a project early, built your position, had the balls to hold it, and let time do its thing.
Now?
We’ve created a culture where everyone jumps to a new ticker every 12 minutes, attention spans are shot, and having conviction gets you bag shamed.
That’s backwards as fuck.
We’ve got millions of tokens all fighting over the same liquidity, everyone chasing the next dopamine hit, and then we wonder why serious capital doesn’t stick around.
This industry wasn’t built by people with 12-minute attention spans.
It was built by people who had conviction when everyone else thought they were fucking crazy. (Like Me)
We don’t need another launchpad.
We don’t need another million tokens.
We need to start rewarding conviction again.
That’s how we fix crypto.
Kraken in Talks to Acquire 15% Stake in Aave Group in $71M Deal
Kraken is in talks to acquire a 15% stake in Aave Group, the entity behind the DeFi protocol Aave, at an implied valuation of $385 million. Under the proposed transaction, Kraken would invest 35,000 ETH in exchange for 250,000 AAVE tokens and a 15% equity stake, valuing the deal at approximately $71 million, according to people familiar with the matter. The investment would mark the first deal under Kraken’s planned Payward Asset Management initiative and deepen its expansion into DeFi and strategic investments.
Brings me memories of 2020 smoking the herb and watching captain jack. Cosy times. Only one I can remember from my late 2017 following that is still real. Smart fooken man.
Topics for tonight, but let me know if there is anything else you’d like to see:
— Saylor “death spiral”
— SpaceX IPO global market top?
— Kevin Warsh rate hikes?
— Oil inflation?
— The usual tickers
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