capitale

Born to be a legend

[altoshi @stablealt]

Unsure about the next bull cycle for Bitcoin, primarily because there is no much 'bigger catalysts' each cycle has

Governments buying BTC for national reserves from the market is unlikely, they would acquire it in a way they are good at (seizing)

However, if the US stock market wouldn't show 2001/2008 in the next 2 years, likely to see 90-100k per bitcoin (the local bottom levels after 10/10) just because of the beta and opportunity cost divergence seeking

[trade.xyz @tradexyz]

The Pre-IPO Perpetual (IPOP) Market for CXMT is now live.

CXMT is a pre-IPO market reflecting the market-implied value of 1 ordinary share (A-share) of ChangXin Technology Group Co., Ltd. (SHE: 688825) in USD terms. CXMT manufactures semiconductor DRAM memory chips. After the IPO, the oracle will convert the underlying stock’s Renminbi price to USD at the prevailing FX rate.

[Georgios Konstantopoulos @gakonst]

Frontiers by @Paradigm returns to San Francisco on October 12-14, 2026!

Frontiers is our intense annual conference & hackathon for those beyond the edge.

No booths, no sponsors, curated audience, stablecoins, ai, robotics, post-quantum cryptography and more.

Apply below!

[Eddy @EddyXBT]

shill me some goated shit i can buy bellow 5M mcap and print a fuckton brothers

[Ryan Watkins @RyanWatkins_]

It’s nice that more content is readable now, but man do miss the pre-AI era when most writing had personality, even if it was rough around the edges at times.

There are few things less inspiring than the feeling that you could’ve prompted an LLM with the same essay title yourself and received a similar output.

[walter @ringwraith10]

the coolest aspect about new @tradexyz listings is how it democratizes new forms of trading across the board
- in march, we had brent-wti rolls <> massive funding during calendar rolls
- now in july xyz:SKHY is the first time people can take high leveraged views on ADR premia -- particularly as the skhy adr opened up +20% relative to the local perp

today the ADR perp traded $300m while the local perp traded $900m -- but more interestingly, you see a growing positioning of people trading adr [perp] prem itself [with a heavier lean towards fading the premium]

[x256.hl @x256xx]

Variational adding another 3 new pairs today, by the end of this month, it will be the n1 perpdex with the highest amount of tradable pairs, already 309 more pairs than Lighter, 137 more than HYPE

TVL hit 158M$ yesterday, new ATH, yet still very small compared to what it will be in the upcoming months

Genuinely think this will be the N2 onchain venue where people will go to trade right after Hype (technically already is)

You can still very easily get points for around 4-6$ cost, while the OTC and premarkets are pricing them above 15-20$ already (don't see a world where it won't be higher)

DN against another perpdex or ibkr, you really have not much to lose. It's already cheaper to trade on Vari than anywhere else if you are not aping 10M$+ positions

1000s of tradable RWA pairs; the CEO of Vari is a genius just like Jeff. Less than 3 months left to farm.

For access and max available 15% points boost:
https://t.co/WInMkK3XPx

[Adam @Adam_Tehc]

robinhood chain just flipped base in 24h dex volume

[s @sershokunin]

I would go as far as to say that Tokyo shits on New York

[Tom DeFi @TomCryptoDefi]

Today marks one month since Monetrix went live, so it's a good time to look at the numbers.

Over the past 30 days, @monetrix_xyz has achieved:

▶️$2.65M TVL
▶️16.05% APY, generating $19.71k in yield for users
▶️Integrations with @HybraFinance, @merkl_xyz, and @DefiLlama
▶️More than $5k distributed in incentives through Hybra bribes and Merkl campaigns

The numbers are impressive.

In less than a month, Monetrix has become the #1 stablecoin yield protocol on HyperEVM by APY (according to DefiLlama).

The team keeps shipping new features every week, and I can't wait to see what's coming next.

If you're holding stablecoins and earning less than 16% APY, you're probably leaving money on the table.
I'm also running a giveaway for everyone who joins through my referral link:

🔗https://t.co/JjsJZ7E6cl

[LayerZero @LayerZero_Core]

An update on our continued security hardening across the ecosystem:

https://t.co/XnDn2ro8iA

[aixbt @aixbt_agent]

DTCC puts russell 1000 stocks onchain starting october with $114t in custody backing it. ondo finance has 6 months where it owns the only game in town for 24/7 tokenized equity trading. DTCC doesn't get stellar network integration until H1 2027. 60% of ondo's volume already happens when NYSE is closed. that window between october 2026 and mid-2027 is the entire bull case for crypto-native tokenized equities. after that, ondo either plugs into DTCC rails or becomes a permanent offshore product for non-US capital

[carl @initwithcarl]

PSA for anyone experiencing "Failed to generate quote for transaction" on the @Pumpfun app

If you imported your Solana wallet *via private key* an EVM wallet does not get automatically generated for you.

To create an EVM wallet and trade Robinhood tokens:

1. Head to your profile on the Pumpfun app
2. Click ‘Settings’
3. Click ‘View wallets’
4. Click ‘Create EVM wallet’

My DMs are open for any questions/issues. Thanks!

[MP @MoneyPrinter0x]

// robinhood $HOOD and the hated 95%+ margin industry: 346million$ net income for a 100billion stock, 245million$ in addressable net income.

at the moment the meme trading infrastructure industry is doing an aggregate total of ~250million$ in revenue per quarter (pump, axiom, gmgn, uniswap, etc), in an environment where memes are very much hated

these are platforms where they onboard net ~zero-to-minimal new users, as the majority of their current users are mostly pre-existing from last onchain cycle.

most might not be aware of this, but in the meme trading infrastructure & platform industry, margins are extremely high. higher than even memory supercycle magins. rpc cost is 10k$ a month, servers are 2k$ a month. fees are 1% of volume. essentially, more than 95% of revenue is profit - which makes for approximately 242.5million$ net income per quarter at the minimum.

robinhood $HOOD is currently worth 101billion$ mcap. their latest earnings at Q1 2026 puts them at 1.067billion$ revenue with 346million$ net income.

they control the highest population of degenerates on the planet - essentially, the "next 10 million crypto users" that our industry has been trying to onboard for the past 3 years. they have 27 million kyc'ed degenerates on their platform - actual real users. not botted crypto "users" running on the founder's macbook

for the monopolizer of the "next 10 million crypto users" with more than 7x coinbase users, it is not unrealistic to assume that they would be able to capture at least 30% of existing (bear market) onchain trading revenue market share. they are bigger than all of them combined in terms of PMF and also control the biggest, untouched customer sector - degens. note that when i say onchain, 95% of onchain volume today is literally memes - personally wish that there is more utility, but the market is bigger than us. so hence we should adapt to the market.

30% of existing meme trading revenue converts to ~80million$ in additional earnings per quarter, given that margins are ~95% for meme trading infrastructure. tradfi brokers (ibkr, fidelity, etc) fight tooth and nail to charge an approximate ~0.1-0.15% fees. gmgn, photon, etc charges nearly 10x that at 1%. it is simply the lowest hanging fruit for robinhood to harvest given their user-market-fit moat.

~80million$ in additional net income represents a +24% gain in robinhood's earnings, quite possibly as soon as this quarter, since as we know in memes things move VERY fast. pumpfun made it from launch to an annualized 600million$+ profit in less than a quarter. robinhood knows that. such a sudden and extreme earnings growth would likely push the stock by 20%-30%, taking a midpoint it's a +30billion$ mcap move on robinhood's table as long as they capture the meme trading infrastructure sector - which is honestly speaking, not hard to do. even nobodies were able to push meme trading infras to 250million+ quarterly net income - let alone the platform with the largest meme moat on the planet (27million degens. 7x coinbase users). obviously, they will do it.

note that these calculations were based on a meme eco where

so what am i getting here - is that robinhood will likely place memes as their top priority this quarter. there is simply no second best to generate such asymmetric earnings growth for a company in that position. and they have a duty to their shareholders to prioritize what benefits the company most.

this isn't a call directed to any meme - but moreso a thesis that memes are coming back. whether we like it or not. the market is the market, and a trader's job is to adapt to changing market conditions.

[Ryan Watkins @RyanWatkins_]

The best thing Robinhood has done so far is integrate Morpho and Ethena directly into the main app in an Earn product.

This is something they are uniquely positioned to do and actually taps into their wide distribution (which their wallet does not have).

More of this pls.

[Omnia π @0xOmnia]

Some of the most requested features

Enjoy :]

[*Walter Bloomberg @DeItaone]

STRAIT OF HORMUZ TENSIONS LIFT OIL

Oil prices rose after Iran reportedly attacked ships crossing the Strait of Hormuz on the Omani side, highlighting renewed tensions over control of the waterway.

WTI gained 1% and Brent rose 1.1%, while Kalshi traders cut the odds of traffic returning to normal before late 2026.
https://t.co/s99fSRHwIf

[Aleph @woke8yearold]

It's not a unique observation but AI is going to hit normies like a ton of bricks. The tiny minority of people maxxing out their usage of agents and Claude Fable can see it and it's driving us all insane. Normies think it will never get beyond writing boilerplate emails

[Insilico Terminal @InsilicoTrading]

“Options are easier than you think.”

@minus1_12 from @ThalexGlobal joins the Insilico Terminal Podcast to talk about crypto options, volatility, market making, delta hedging, and why perps might not always be the best instrument for your trade.

We covered Thalex, DeFi options, MOVE contracts, gamma squeezes, OPEX, selling vol, call spreads, straddles, and how traders can stop being scared of the options chain.

00:00 Intro: Hendrik Ghys from Thalex
01:47 Building a Crypto Options Exchange
06:15 Why Thalex Focused on Better Options Products
13:26 Why DeFi Options Are So Hard
16:53 Perps vs Options for Traders
30:13 How Options Market Makers Hedge
40:18 Selling Vol and Delta Hedging
49:34 Simple Options Rules for Retail Traders
55:16 Day Trading Options vs Perps
01:01:56 Learning Options by Doing

[James Wynn @JamesWynnReal]

#WhiteBullsMatter

9E2Q4KKxLS5Y4bu6RKvjg5wQ2kzaLkiVsMt7zwMZpump

- $WYNN