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BTC sits at $110K as of this morning, with the overwhelming majority of tokens down – rather than for Hyperliquid (up 14% from the day before on the present time’s $43 lows) and Solana (up 4% on the present time).
We’ve already covered Hyperliquid twice this week, so I’ll spare the main points. Here’s a short recap:
- Perpetuals volumes are up and to the lawful.
- Space volumes are up and to the lawful.
We’re additionally in the end seeing some relief on Solana after months of underperformance against ETH. Contemporary DAT announcements appear to have faith no longer been in particular internal most and had been sold into rather heavily (doubtless additionally on account of the market downturn). Since then, the wunderkind of 2023-2024 has rebounded. We’ll have faith to peer if the treasury companies will result in any originate market buys, or if they’re principally in-kind. Although they’re principally in-kind, provided that SOL’s market cap is great smaller than that of ETH, shall we peer some obvious stamp stream if:
The SOL DATs can effect aside forward a figure who can compete with Mr. Thomas Lee.
They are placing in on the least a little bit of little bit of cash into the autos.
Unfortunately, despite being bullish on SOL at some point soon of most of 2023 and 2024, it is complicated to no longer feel admire the tide has moved against it, especially with memecoin mumble extra and extra taking the attributes of a euthanasia roller coaster (Trump into Melania into Milei into Kanye West). We’ll have faith to peer who wins:
Ethereum, Thomas Lee and DATs
Solana, memecoins and playing
Hyperliquid and infinite buybacks
