Revenue, Token Rights, Newsletter @defillama
Joined September 2020
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"The next great crash will occur when we collectively realize that the institutions that we trusted to remove risk are actually the source of it."
- Volatility and the Allegory of the Prisoner's Dilemma, Artemis Capital
artemiscm.com/research-marke…
Should be getting more attention, Uber is squeezing an extra 1.5 days of returns using FT's tokenized MM fund
nitter.cf/i/trending/21162285783…
One of the most insane market days I've ever seen
Binance hacked for $5b, but not before GOOGL saw -$500b loss in mcap
AMZN & INTC shed $190b & $106b after hours
oscillating between crypto market not looking that bad and no one is ever going to put money onchain again
-$6B in USDT & USDC outflows over the last month
2yr flows show how radically stablecoin flows have changed, from 12 straight months of $5b+ inflows to 2026 posting net outflows YTD
Stablecoin volume and RWA AUM are up and to the right but these outflows are a tad concerning
Mongol children could ride horses at 3 years old
By the age of 5 they received mini bow & arrows to train while riding
Part of achieving greatness in the gym is learning to respect all aspects
Find a way
When I learned that training legs boosts test & growth hormones more than upper body, it was easier to slam
Learning consistency is superior to difficulty meant a short workout was still worth my time
Systematically remove mental blocks
CoinShares thinks HYPE could be $450 in 2032 ... or $8
Institutional price targets for crypto are hilariously wide, here's a constellation of them for BTC, ETH, SOL & HYPE
Kenny Jetski retweeted
if steve jobs saw you reserving 15% screen width for a single icon and then putting a left side arrow back button on the unreachable right side of the screen he would've personally taken you behind a dumpster and beat you with a metal pipe
If BTC drops and DEX volume falls, here's what you should watch:
Revenue that holds up has a non-crypto driver. Reserve yields, tokenized fund fee streams, pokemon market, select infra
Paxos, Collector Crypt & Courtyard, fomo, Chainlink and a few others grew rev as DEX volume fell
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The most sensitive revenues are wallets and trading apps. Examples are base app, meteora, jupiter, raydium, phantom, bonkfun & photon
When DEX volume rises, these categories grow revenue the fastest
The categories that held up best during the bear market actually flipped when DEX volume returned: Physical TCGs and Prediction Markets underperformed almost everything else
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