It seems pretty clear which alts to hold and long this cycle.
Friendly reminder of protocols doing buybacks, besides Hyperliquid obviously.
Last 30 days, via DefiLlama:
• $PUMP @Pumpfun - $23.5M
• $SKY @SkyEcosystem - $4.7M
• $RAY @Raydium - $4.4M
• $JUP @JupiterExchange - $3.5M
• $LIT @Lighter_xyz - $2.9M
• $SPK @sparkfinance - $1.1M
Bring the buyback in.
Higher for longer.
*SEC STAFF ISSUES FAQS ON CRYPTO ASSET SECURITIES LAWS APPLICATION
*SEC STAFF: TOKEN BUYBACKS ON FUNCTIONAL PROTOCOLS DO NOT CONSTITUTE MANAGERIAL EFFORTS
*SEC STAFF: LIQUID STAKING TOKENS ARE DIGITAL COMMODITIES OR TOOLS, NOT SECURITIES
*SEC STAFF: MAINTENANCE, ENHANCEMENTS, SYSTEM GRANTS NOT CONSIDERED ESSENTIAL MANAGERIAL EFFORTS
*SEC STAFF: PROMOTING CRYPTO UTILITY WITHOUT PROFIT CLAIMS GENERALLY NOT AN INVESTMENT CONTRACT
Big week for RWA and DeFi.
Could literally say that every week, but feels like we're only getting started.
Here's a short summary of what caught my eye:
DeFi integrations
• @aave - Coinbase tokenized stocks live on V4
• @ethena - equity perps basis trade with Binance, ~11% avg basis (hello loopers)
RWA products
• @Ondo - Intelligent Portfolios, 3 tokenized portfolios built on BlackRock strategies
• @plumenetwork - nPRIME vault, yield from Figure's $30B home equity lending market
• @RockawayX - launched Catapult, an accelerator for founders bringing yield-bearing RWAs onchain
TGE news
• @jumperapp - $JUMP token sale on Legion
• @variational_io - $VAR tokenomics, 32% airdrop, TGE in Q4
Exciting times ahead, have a great weekend everyone.