AY

@ROKCapital | Formerly @FTX_Official @ProjectSerum @TheSpartanGroup @join_deed @macquarie | Unchained Podcast | @carnegiemellon

[AY @AYoonity]

A brief primer on Korean exchanges

As of today, there’s 4 exchanges with KRW on/off ramps:

1) Upbit
2) Bithumb
3) Coinone
4) Korbit

Notice they’re all spot exchanges since crypto derivatives exchanges are illegal in Korea (We’ll circle back on this one)

1/

[Haseeb ＞|＜ @hosseeb]

So turns out retail crypto trading in Korea has fallen off a cliff. https://t.co/2v0AGdVzib

Exchange volumes are way down. We've come a long way since the kimchi premium. Choice quote:

[DeSpread @DeSpreadTeam]

🔥We are hosting the Web3 Growth Summit on Nov 29th.

This event unites Web3 builders to share strategies on GTM, community growth, user acquisition, and branding.

Register below
⬇️
https://t.co/Qgkg6EOcPG

[raj 🖤 @rajgokal]

there’s an invisible class of products being built on solana, that nobody will see coming.

🧑‍🤝‍🧑 scrappy, small, product-centric teams
🧠 not distracted by cross-chain
💰 minimal funding, no flashy party rounds
⚔️ forged in heated competition
🧙‍♂️ multi-cycle builders with wisdom

[CZ 🔶 BNB @cz_binance]

gm

[Skew Δ @52kskew]

$BTC Binance Perp / Bybit Perp
The classic build up of positioning provides great incentive to hunt stacked liquidity

longs opening into the pump & now shorts chasing price under $65K

Spot leads direction still

[AY @AYoonity]

@Timccopeland @DriftProtocol

[Avi @AviFelman]

The way these sell offs end is when sellers run out of coins.

Sounds obvious, but the key is to ignore where buyers step in.

[Arthur @arthur0x]

If you're long-term bullish on an asset, you're supposed to be more bullish the lower the price go, not the opposite.

Still maintain the view that ETH is one of the best risk-adjusted investments over the next few months here given current market environment.

[Mercury @TraderMercury]

y’all aren’t bearish bearish, you’re just greedy

like you don’t think this market actually goes to 0 or whatever

you want a *decent* pullback from here so that you can buy the lows before the real fun starts

allow me to remind you, you’re only ever as good as your recent trade. if you didn’t find a way to catch the most recent rally; the size of pullback doesn’t matter. you’d still find a way to f*ck it up next time too

so instead of recognizing that you’re neglecting the objectivity of the market and biased due to how you are individually positioned for the market, you beg for it to allow you a “more comfortable” approach

wait hold on, I don’t think you understand…

you’re begging for the market to put in Lower Highs on the Weekly for the first time in 2 years, consolidate beneath previous cycle ATHs for 3 months only to breakdown instead, and $ETHBTC strength for the first time in 2 years to be a fluke…all so that you can buy -10% lower?

and then you expect the market to miraculously continue infinitely higher thereafter?!?!

I’m convinced you do not understand context.

If this post comes off as arrogant, consider it tough love. I said what I said.

[cindy @cindyleowtt]

What an insane day.

After being live on Solana for nearly 2 years, Drift launched its genesis airdrop today.

1/ >50% of the airdrop was claimed today, with ~12M DRIFT used to stake as collateral in Drift (25% of the drop!). With our cross margin model $DRIFT can be used as voting power and margin within Drift.

2/ The 6-hour bonus claim period was a huge success, with only 20% claimed in the first 6 hours. 2.8% of the airdrop was forfeited from paperhand sellers and will be redistributed back to holders & the community.

3/ Our post-airdrop retention metrics couldn't be better. TVL grew to $350m post launch, volumes stabilizing at >$150m. Revenues are pumping.

Things that we could have done better:

- Coordinate CEX vs DEX timings. Bybit had its launch slated for two hours earlier to avoid clashing with another launch, causing confusion. Unfortunately we have no real control over the timings here, but ensuring things match up is a focus for us.

What's next for us?

This is the start of huge growth journey for Drift. We have an extremely ambitious roadmap and we're not stopping until we get to #1 perp exchange in crypto.

Volatility is always expected at initial launch, but we're confident in our vision and execution moving forward, with a renewed focus on community - new and old.

Onwards and upwards 💜

[Meltem Demirors @Melt_Dem]

speculation is the first and most potent use case of crypto, and this is a GOOD thing

intellectually dishonest of those who have gained wealth, power, and fame via crypto to frame speculation as an illegitimate or unproductive use case

speculation powers the engine of growth

[AY @AYoonity]

@sungmo_nad @monad_xyz lfg

[Drift Foundation @DriftFDN]

The $DRIFT Eligibility Checker is now live!

Here’s what you need to know. (🧵)

[kram @kramnotmark]

never hire crypto natives.

go to the banks. find the executives. the VPs. the oldest ones, the wisest ones, those who exude longevity. the former consultants, perhaps. the wearers of suits and watches. make sure they have never interacted onchain. and then poach them. give them decision-making power. do this quickly, without caution. they have been there and done that. trust their opinions, never verify. they are wise and in charge and will bring with them mass adoption the likes this industry has never seen.

this is how crypto wins.

[Chris Burniske @cburniske]

Nice try, bears

[Chris Burniske @cburniske]

Significant fear in the market, while prices find footing in reasonable ranges and excesses get flushed, is the setup for eventually going higher 🫡

[Vance Spencer @pythianism]

Funding rates back at 6%

If you study the history you will know that funding rate negativity is extremely rare, does not persist frequently, many reasons for this

The fud is entertaining though

[AY @AYoonity]

@AviFelman Farcaster

[AY @AYoonity]

@PanteraCapital @FranklinBi CONGRATS Franklin!!!

[AY @AYoonity]

@JoshuaDeuk This is a lot of words to describe the thesis of:

"The ticker is $PEPE"