Unit keeps hitting ATHs! Today, we did $500M in daily volume, crossed $900M in total deposits, and almost hit $15B in all-time volume! Trade spot with the lowest fees here:

Really incredible how many people recognize its late cycle and plan to sell the top this time. Surely everyone will be right.

Seeing Wall Street experience its first “aha” moment on crypto is a breath of fresh air. Too many people here are jaded after years of Bitcoin dominance expansion and have PTSD from asymmetrical downside volatility on altcoins. We’re finally at the inflection point of the S curve for the cryptoeconomy — yet it’s seems like CT psychology is giga-fried from 18 months on the memecoin euthanasia roller coaster, where it paid to be hyper-short-term. Dare to dream again.

Seeing institutions experience their first “aha” moment on crypto is a breath of fresh air. After years of Bitcoin dominance expansion and asymmetric downside volatility on altcoins, too many here are jaded, anxious, and forgot what possibility feels like. Dare to dream again.

Across most of the cryptoasset universe, protocols are struggling to find a clean, punchy, and measurable story to sell to the market. Hyperliquid’s is as simple as it gets:

Stablecoin L1s are a silly concept, but I understand why so many people will try it. Stablecoins are just assets, and if most assets already live on the leading chains, why would anyone switch to a new one just for access to a subset of what’s already being offered? The distribution argument is tempting, but with the exception of Stripe, none of the proposed stablecoin chains even own their own distribution. Tether may be the only stablecoin that is differentiated, mostly due to path dependence, but once again it neither control its own distribution nor is it even exclusively backing any new chain. Respect the ambition, but think people are losing the plot.

🟢 SΞR NEWS: Bitmine Immersion Tech $BMNR to raise its offering up to $20 billions to acquire more ETH.

As of tonight, and tomorrow. Sharplink will have a minimum 600m to deploy into $ETH not including any atm this week This also doesnt include Tom Lee's co obviously Between them we should see at least a billion this week in buys

HYENA

Those of you trying to value $ETH w fundamentals and justify this PA rn w crypto native baggage are underestimating the magic you felt when Ethereum and smart contract platforms first clicked for you. Wall street hedge funds never truly had to rationalize crypto as an asset class. The 2020/2021 run happened in a flash and it was a fun distraction, now they have to actually do some work. Their talking points around $ETH are elementary because they are literally figuring out wtf it is now. Seeing these CNBC clips actually just reminds me of when I first read the ethereum whitepaper and watched some vitalik interviews and decided $ETH was digital oil / programmable money / the internet of finance. We’re all too jaded and cynical at this point to remember it, but do not fade that beautiful feeling of discovering groundbreaking blockchain tech for the first time. It’s happening right now for the richest institutions in the world. The last thing they’re thinking about is cash flows.