marketsxx

markets analyst. crypto since 2016. started trading stocks in 2020. enjoy the ride. everything I say is nfa

[marketsxx @marketsxx]

ethereum:native

[PaperFlow @PaperFlow8]

a whole country index went 4x in 1 year
intel, a boomer stock that my dad bought and held since 1993 went 4x in the span of 2 months
gold, a 30t monolith went nearly 4x since the 2022 lows

and your assumption is that btc and eth, some of the most reflexive and volatile underlyings since the inception of modern finance, cannot go 4x from here?

[marketsxx @marketsxx]

✅

[marketsxx @marketsxx]

last week was the first positive week in stablecoin supply since May this year, we had a +1.3B increase. It's also the first time since February this year that we have two following weeks of positive trend. If next week we have another positive supply increase, it will be the first time it has happened since 2024.

[marketsxx @marketsxx]

The most irony and entertaining outcome is the most likely.

[marketsxx @marketsxx]

it will be funny if the moment clarity does not pass the bull run starts

[marketsxx @marketsxx]

35%
This is only the beginning.

[marketsxx @marketsxx]

$CRCL
report was yesterday
chart looks like this.
Opened 3x long in addition to my spot holdings.

[marketsxx @marketsxx]

Everything just aligned perfectly.

Central bank interventions are always the hard assets bottoms.

Having both Japan and the US step in, the two biggest ones, you literally couldn't ask for a clearer bottom signal.

On top of that, after a whole year of relentless selling, sellers are completely exhausted. There’s nothing left to dump.

Extreme short positioning right before the AI trade expands into crypto, tokenization gaining real momentum, and the US debt situation whose easiest fix is an endless supply of stablecoins.

This is a pure recipe for fireworks. And it hit yesterday. 💥

About all I wrote here in the past few months. Congrats if you listen.

[marketsxx @marketsxx]

Hahahaha you definitely weren’t ready for that

[marketsxx @marketsxx]

Are you ready for a $500m short liquidation?

ethereum:native

[marketsxx @marketsxx]

Wagmi

[Mike Selig @ChairmanSelig]

For years, anti-crypto armies, doomers, and decelerationists stifled innovation, regulating by enforcement and driving transformational technologies like blockchain, AI, and prediction markets overseas.

On Augst 20, the @CFTC is turning the page and charting a course for the new frontier of finance as innovators, builders, thinkers, and entrepreneurs descend upon Washington for the inaugural meeting of the Innovation Advisory Committee.

[marketsxx @marketsxx]

@CavanXy King

[marketsxx @marketsxx]

First step to IPO.
Top 5 valuations private companies in the world - 500B

Their competitor is public and worth 1/25 of that.

You asked for asymmetric bets?

[Tether @tether]

Tether Completes the Largest Inaugural Financial Audit in History

Read more:

https://t.co/vWG0fFSUxH

[marketsxx @marketsxx]

Coincidence or not, the previous local gold top in February @ $5400 was at a $36T market cap, while US total debt at that time was, guess what, $36T as well.

Now the total debt has increased to $40T

are we heading to $6K per ounce?

$GLD $XAUT $GOLD

[marketsxx @marketsxx]

Cash is trash is the trade

Long everything, especially gold.

[marketsxx @marketsxx]

last week was the first positive week in stablecoin supply since May this year, we had a +1.3B increase. It's also the first time since February this year that we have two following weeks of positive trend. If next week we have another positive supply increase, it will be the first time it has happened since 2024.

[marketsxx @marketsxx]

@docXBT @ChainlinkP I don’t remember any “catalyst” in the start of the Jan 23 run besides the ai trade the started. ETFs were not in the discussion until June I think. Do you remember something specific as a catalyst for the initial pumo?

[marketsxx @marketsxx]

Prepare for tons of tweets such as “you had 2 months to buy bitcoin under 70k but you were too bearish and fade it”

99% of the people that will tweet that faded it themselves.

You all know which accounts here didn’t fade it. Follow them.

[marketsxx @marketsxx]

@sikiri0 Circle is this cycles what coinbase were last cycle. Few. 10x incoming easy.

[marketsxx @marketsxx]

@bullrunalpha The best rr in the crypto space for long time
600 programmed.

[marketsxx @marketsxx]

Worth reading

[Lorenzo Valente @LorenzoARK]

CT missed the most important earnings call of the week. It wasn't a crypto company. It was @Cloudflare

Everyone caught the wallet announcement. The real alpha was in the call itself.

Today Cloudflare monetizes the internet through subscriptions: security services, AI platform spend, pools of funds. A mix of SaaS and IaaS economics. The CEO was explicit that AI agents are about to break that model.
Cloudflare sits in front of roughly 20% of internet traffic. Here's what that traffic looks like from the call:

- AI agent requests up 1,700% YoY
- Agents crossed 50% of total network traffic this quarter. First time in history non-human traffic is the majority. Management admitted it happened faster than their own models
- Their projection: if trends hold, non-human traffic outnumbers human traffic 1000x within 5 years

The monetization shift is the key part. The ad-supported internet doesn't work when the visitor is an agent. Cloudflare's CEO answer: block malicious bots for free, charge good agents a tiny fee per request. Fractions of a penny. They want to be the ones defining that layer.

Now the throughput math here:

- Cloudflare handles ~500M requests per second
- They estimate 1 to 10% is monetizable via micro/nanotransactions
- That means 10M TPS on day one, scaling to 100M TPS
Visa peaks at ~20k TPS

The CEO's framing: "we're building this while others compete with Visa." Three to four orders of magnitude beyond card rails. No existing payment network can settle this. It has to be something new.

Two conclusions I keep coming back to:

- Being short L1 throughput is being short agentic workflows. If agent traffic gets monetized per request, the settlement layer needs to scale orders of magnitude beyond anything live today.

- The fee math for L1s flips. Base fees have collapsed across ETH, SOL, everywhere. MEV is getting internalized by apps. Hard to build a base fee revenue case at human scale. But at 10M TPS and $0.001 per transaction, you're looking at ~$315B a year in base fees alone. At 100M TPS the number gets silly.

Stablecoins and crypto are the end-game here for Agentic finance @jerallaire @circle

[marketsxx @marketsxx]

@LorenzoARK @Cloudflare ����

[marketsxx @marketsxx]

Hyperliquid cohorts are the most viable data point for smart money moves on the internet. When ETH was 1740, we saw a significant trend change from very bearish to slightly bearish. We see it now with gold as well. What's important is the trend change and not the fact that it is still slightly bearish.