Armani Ferrante, CEO of @Backpack, on why Solana is becoming the aggregation layer for everything
“Solana has always been marching towards something much bigger than any single exchange. You could call it an API for all of finance, or a parallel economy and financial system. But I think the end state is Solana as the aggregation layer for everything."
"It’s all about importing market structure. Not just crypto-native assets, but the entire economy, because the network effect is money.”
@armaniferrante@KyleSamani
Earnings & macro events to watch for the week of Oct 12.
▸ Banking & Financials: $JPM $GS $BAC
▸ Semiconductors: $ASML $TSM
▸ Healthcare: $UNH $JNJ
▸ Macro: US CPI, PPI, retail sales
Full market calendar → https://t.co/RjNtk92UMk
Tokenized stock holder growth by issuer, past 24 hours 📈
@Backpack led with +16.4K new holders, more than 3x the next issuer, followed by @xStocksFi (+4.6K) and Binance bStocks (+3.1K).
@RobinhoodApp (+1.4K) and @coinbase (+949) round out the top 5.
Data via @tokenterminal
Your stocks can do more than sit in your portfolio 🎒
Use stock collateral on Backpack to borrow, trade and hedge without selling your stocks.
A closer look:
00:23 Borrow against stocks
00:40 Spot margin trading
01:02 Perpetual futures
01:33 Hedging a stock position
The Iran conflict resolution is embedded in the the options market.
Oil skew is one-sided.
In a normal crisis you'd expect both wings to bid: calls against another supply shock and puts against a sudden resolution.
The market is only paying up for a resolution-driven collapse, not another oil spike.
$USO $OVX
<Pons runs to a billion with no pullbacks>
Peanut Gallery: "..."
<Pons pulls back after hitting a billion>
Peanut Gallery:
"haha bro straight to 0 I knew it the whole time."
"how did that trash even go to a billion bros haha."
Never forget, this space is filled with hindsight quants.
What Robinhood has done so far is a damn near impossible feat, its broken through the barrier and become a permanent chain fixture like Solana, BNB and ETH. Every single chain has now copied the playbook that was written by them. It single handedly revived the market after years of the worst extraction games we have ever seen.
Grave dancers will look stupid once again as they always do.
$BTC has flashed the momentum signal that started the last two bull markets.
MVRV has crossed back above its 365-day average.
This is the same cross that we saw in 2019 and 2023 at the beginning of each bull market.