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@0xcounter
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lighter dev scrambling to figure out how to add portfolio margin now that its next on the roadmap.
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decided to give lighter a try. turned on pro-mode 2bip taker fee 800K volume on majors total fee + spread = $700 6.75 bips spread on highest liquidity markets a total of 8.75 bips (fee+spread)
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there's overwhelming hate santiago, but its a beacon of rationality in a sea of speculation. growth + value capture is what matters. vcs are like early cabal holders gaslighting you to believe the lofty valuations long enough to dump on you.
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ETH relies on ever changing memes/narratives to convince holders of its value. The issue is every narrative it comes up with has competitors that are beating it handedly on metrics. SoV? there's a better one World computer? there's many better ones.
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BTC is easier to value bcos most agree it's SoV meme is what makes up most its value. The longer it stays unchanged, the stronger the meme becomes. No one argues its net loss to secure the network.
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L1's are confusing to value bcos they combine a little fundamental value with a lot of speculation. @santiagoroel is absolutely correct on fundamentals. there is very little of value there. the rest comes from memetic speculation.
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lighter point farmers gravedancing in hype underperformance as their airdrop proceed to rerate lower
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dragonfly got mon at $0.002, up a cool 14x they need you to believe in something long enough until their $200M bags unlock to dump on you keep believing in exponentials
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tensor team got acquihired they iterated, found and lost pmf. likely burnt out. and coinbase offered them a way out acquihires often aren't paid an insane amount. equity holders likely zero'ed out or break even. your tnsr tokens and jpegs were going to zero anyway
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Responding to my pals @0xTulipKing and @CookerFlips here. As always, starting with some things I agree with: 10/10 was objectively bad for all perp exchanges and there was a ton of value destruction involved with their core user cohort. It will take time to work through this
Looks like it's time to short Hyperliquid. The narrative around Hyperliquid has always been about their ability to generate fees -- this is a clear chink in the armor. Combine that with: * OI hasn't recovered since 10/10 * Plenty of new & good competitors (Aster, Lighter,
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special type of olympics for the lads calling the gambol coin's bet volume as protocol rev.
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ZEC melts up: Wow I wonder if this thing is ever gonna pull back so I can buy some ZEC pulls back: Wow what a hideous top, I knew I made the right choice not chasing this thing
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appears like plenty of sidelined capital dying to deploy into risky assets. but it's waiting to see if btc holds. orderbooks thin af
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my cockroaches it's about time for hyperliquid season
gm to all the boolish cockroaches crawling out from your nuclear bunkers to 10x long perps again
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guy that thinks we are still in a bull at 75K guy that shills useless every post guy that thinks hbar and xrp are sound investments guy that swears sui is the sol of the cycle guy that believes spx6900 is the next gme guy that thinks lighter points are worth 100 guy that is
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sorry but your extra 2% stablecoin yield is not worth added layers of smart contract, operational, execution risk.
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to all the protocols that prolonged their airdrops til now. good shit, now it'll be insta jeeted.
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