Nick

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[Nick @realDeFiPath]

@EthereanVibin You couldn't have said this better. Plus he has better hair.

[Nick @realDeFiPath]

@KobeissiLetter @leolanza is this good for ETH?

[The Kobeissi Letter @KobeissiLetter]

Tokenized stocks are rapidly expanding.

The total market cap of onchain tokenized stocks is now up to a record $1.6 billion.

This marks a +240% increase year-to-date as tokenization gains popularity and equity markets have experienced a historic rally.

Additionally, trading volume is also gaining momentum as xStocks and Ondo, two of the most active spot providers in the space, have both posted ~200% growth in monthly active trading volume this year.

Amid this growth, Jupiter, the largest onchain platform, has processed over $400 million in onchain tokenized stock spot volume, becoming a key venue for tokenized spot trading.

Meanwhile, in a sudden shift, Bloomberg reported that the SEC is now preparing a framework for the trading of tokenized stocks.

Tokenization is accelerating.

[Nick @realDeFiPath]

@AlexesNakamoto @PunterJeff It’s kind of a BS excuse when the narrative has been never sell. BTC trades billions in a day. You don’t have to sell it personally to prove that it’s liquid.

[Nick @realDeFiPath]

@TrustlessState @degenrsc You never understood ETH in the first place.

[Nick @realDeFiPath]

Enlivex booked a $1.23B “profit” almost entirely from unrealized mark-to-market gains on RAIN, a brand-new micro-cap token it acquired at a 62% discount directly from the issuer and now holds ~79 billion of. Because they’re the dominant holder of a thin-float token, that marked value isn’t realizable — selling into the market would collapse the price, so the balance-sheet number and the cash-out number differ by an order of magnitude. They also can’t defend the price (only ~$30M cash against a multi-billion stated treasury) and can’t monetize via premium stock issuance like MicroStrategy, since ENLV trades at a steep discount to its claimed NAV with a $1 price target. The marks are also wildly unstable, having fallen from $2.31B at year-end to $567M just four months later. In short, the “profit” is an accounting illusion — a one-way mark that looks like billions but converts to almost nothing the moment anyone tries to turn it into actual money.

[Bitcoin Magazine @BitcoinMagazine]

Texas is pivoting from buying Bitcoin ETFs to buying spot BTC held in cold storage for their Strategic Bitcoin Reserve 🇺🇸

Love to see it 👏

[Stani @StaniKulechov]

Every bank will have crypto custody.

Every bank will access to DeFi.

[Nick @realDeFiPath]

Things That Are Scarce & AI Can't Print:

- Land
- BTC
- Gold
- Time
- Attention
- Trust & reputation

Things That AI Makes Cheaper & Are Easily Produced:

- Fiat Currency
- Labor
- Content
- Code
- Images & art
- Information

What's wild is that BTC rolls all three of those scarce things into one asset.

Time. Every block is literally proof of time and energy spent. The whole system runs on work that can't be faked or rushed. And the longer Bitcoin survives, the more trusted it gets — 16 years and counting with no downtime. You can't shortcut that. A new chain can copy the code but it can't copy the years.

Attention. Bitcoin is the most watched, most covered, most liquid crypto asset on the planet. Every other coin fights for scraps of attention. BTC already has it. That attention is what turns into liquidity, adoption, and a price floor that keeps getting higher over the cycles.

Trust. This is the big one. You don't have to trust a bank, a CEO, or a government to hold BTC. You trust math and a network nobody controls. No one can print more. No one can freeze it. No one can change the rules on you. In a world where fiat depends on trusting people who keep breaking that trust, BTC is the first money where trust is built into the code.

Land has scarcity but no attention or portability. Gold has scarcity and some trust but no real attention anymore. Fiat has all the attention but zero scarcity and crumbling trust.

BTC is the only one that has all three at the same time.
The gap between these two lists is where wealth gets built over the next decade.

Own the things that can't be copied, printed, or generated. Everything else is getting cheaper by the day.

[Nick @realDeFiPath]

@DefiIgnas @Evan_ss6 That’s no Joke. He is the new Jim Cramer

[Nick @realDeFiPath]

For me it comes down to BTC and ETH. I am a big fan of utility and narrative. I know the BTC maxi's don't like ETH but for the life of me I can't understand.

If BTC could do everything then fantastic, BTC only, but that's not the case. BTC has its limits on running complicated smart contracts and this is where ETH fills that hole.

I think the writing is on the wall that tradfi is changing dramatically. The use of AI agents, instant settlement, open internet blockchain (ETH Main), 24/7 access via the chain...the list goes on.

BlackRock is already tokenizing funds on Ethereum mainnet. The infrastructure is being built whether the price reflects it yet or not.

The changing landscape is hard to deny at this point. This is why running a business is changing too. Your business needs strong collateral that can earn yield, be borrowed against without selling, and be managed at any time from anywhere.

No banker's hours. No waiting 3 days for settlement. No asking permission to access your own capital.

The businesses that figure this out now are going to have a massive edge over the ones still parking everything in a checking account earning nothing.

[Nick @realDeFiPath]

@Giovann35084111 🤣🤣🤣

[Nick @realDeFiPath]

@_P0PY_ @FChristopher77 Jesus prayer!

[Nick @realDeFiPath]

@jolie6666 @TokenizedDollar Oh you mean that coin where the ceo went on live tv and sold all of his shitcoins (litecoin)

[Nick @realDeFiPath]

@TokenizedDollar This is a great comparison!

[Nick @realDeFiPath]

@paul78767602 Yeah so buy more.

[Nick @realDeFiPath]

@DefiIgnas Pretty stupid reason to raise gas fees because you can’t double check the address.

[Nick @realDeFiPath]

Good Day To Buy Some ETH @mmmikema