Cryptopunks will outperform $ETH this cycle in $ terms bc $ETH bag holders will flex in NFTs, it’s an internet status game. The whole world economy outside of food and energy production is a giant status game, why would the internet society be any different.
crypto market wizards
a text transcript of my interview with Jordi Alexander of Selini Capital
an insight into the mind of one of the best crypto traders in the the world
Let's be clear about something regarding Ethereum.
1. Highest security
First of all Ethereum has the highest security amongst the programmable execution environments.
Yes this matters. When world moves onchain, that means that most important and mission critical use-cases will use Ethereum. Most importantly this means $25T finance industry.
2. DeFi TVL
The only PMF for onchain has been DeFi. Out of the 122B TVL Ethereum is the home for over half of it and almost 6x to the second biggest.
The economies of scale is on Ethereum. Mainnet Aave is the only place you can borrow $1B in stables by posting a collateral. You can't do it anywhere else.
All the most relevant DeFi innovation I keep being pitched is still on Ethereum.
3. Developer ecosystem and tooling
While building DeFi sounds an easy to replicate anywhere, that is not really the case. DeFi protocols need solid network security and stability to be able to serve collateralized products and any product that include a oracle price feed.
Second, in most nascent network ecosystems its much more harder to build DeFi and to secure it.
Ethereum has advantage here as the developer ecosystem has build solid tooling around development (Hardhat, Foundry), multiple different testing tools, i.e. different fuzzy-testing, simulation tooling such as Tenderly for debugging and robust ecosystem of auditors that are really going deep into the code and caring, not just rubber stamping audit reports.
4. EVM innovation
EVM has been the most valuable innovation in the Ethereum ecosystem. We are seeing more exciting innovation happening on EVM space, including from ZK-based EVMs to solve scalability from ZKSync, Scroll to Linea and Succinct. Instead of seeing one path of innovation, we are seeing multiple options competing to provide the best scalability and also privacy for users.
5. L2 strategy (+ Beef up Ethereum L1)
People critisize the L2 strategy on Ethereum but it actually works. It allows L1 to offer highest security for Ethereum while allowing innovation to foster on L2s (as per previous point). Every major exchange or institution is looking to run their own network. They want customization and they want economics.
How I would like to see this continue is that we keep innovating on the L1 side, and beef up Ethereum mainnet, faster.
Once cross-chain liquidity is solved and ux challenges are removed, it all feels unified, and super fast.
6. POTUS is building on Ethereum
WLF Aave instance is going to be deployed on Ethereum mainnet. Lot of innovation will follow on DeFi with WLF. This is where POTUS fundamentals are happening.
7. The institutions are deploying on Ethereum
For institutions like BlackRock their main base is Ethereum and this is because Ethereum provides the highest security and stability for institutions to issue assets like RWAs, its also where all the DeFi network effects are.
8. Talent pool
Most of the talented smart contract developers are on Ethereum, writing Solidity. This is also the reason why the most biggest protocols are on Ethereum and have been running for years and the same reason why the developer tooling on Ethereum is light years ahead of everything else. It's a more mature ecosystem.
Remember, onchain is full of short term (very risky) opportunities that take the moment of attention but what really matters down the line is fundamentals. The ecosystems and its users that focus most of fundamentals will get the most adoption.
It's just a matter of time when ETH pumps, but when it does, it's going to be the biggest revenge pump ever.
MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
New Zora NFT meta is just waiting to happen imo:
- fast tap-to-mint UX in app
- all NFTs are also tradeable ERC20s by default, automatic LP deployment. user doesn't have to know what *any* of this means
- easiest onboarding process for any new web3 user. embedded privy wallet means anyone can immediately put their work on chain & socially verify it
- referral system disincentivizes gatekeeping mints you think will do well on secondary
- works seamlessly cross-chain (or will do soon)
u can just sit & scroll to collect or shitcoin easier than any other experience I know of in this industry. I feel like this is what we have been waiting for. I think there is a good chance of revitalizing the NFT art market with significantly increased capital velocity, consistent secondary liquidity and minimal exposure to 'blockchain' or 'NFT' complications.
Please be careful trading secondaries atm as you can get slipped extremely hard - there are not many traders providing LP as it's a very new feature
I am not invested in Zora but I am very impressed with what they have made!
I actually believe in this so am posting ref link to cope with my lack of equity. will use all rewards to mint more https://t.co/uPP6pYzIZ3
This is probably my most timeless indicator on Trading View, and it was coded in v3 pinescript. I don't think there's an indicator like this in the expansive library it offers.
The gist of it is this: we run VOLUME through an RSI transform with a short lookback to normalize the data. We then calculate the delta of these data, and group by micro, small, med, and large delta. We then take the cumulative sum with quarterly resets to suggest a reasonable profile of market participants. Micro is generally wash trading/little retail activity. Small and medium to provide better color on trends; and large is... well, large orders.
Take a look... maybe you'll see some peculiar things happening during notable market movements. Have fun R.E'ing... it's not that hard.