Protext.hl
@Protext_io
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Web3 Research & Vibes https://t.co/S01cWycJVt
Africa
Joined March 2022
Protext released a Blog-Post at the start of 2023, stating that the #Crypto market had Bottomed after the massive flush in Q4 2022 ending with the FTX Fiasco, and that it was the start of a SuperCycle from 2023 - 2025.
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RT @gdog97_: Seems as though the DAT phenomenon is quite divisive, wanted to share some thoughts on why we thought this was a worthwhile pu….
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In all, the biggest winners of the $PUMP launch remains the teams (as always), early backers and most notably Hyperliquid/Unit. The Onchain Price Discovery from Pre-launch Perps on Hyperliquid to Day1 Spot launch on Unit & Post-Launch Futures on Hyperliquid has been astonishing.
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Generally having publicly expressed skepticism prior to both the ICO & public launch, it is evident that our pessimism is now baked into the Price action & $PUMP might be soon due for a rerating. However, the long-term sustainability remains questionable .
Been seeing this Gap evidenced in lots of the $HYPE vs $PUMP Comparisons lately. Will check back 1 year after $PUMP TGE.
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This is further accelerated by unclear comms by the team regarding airdrops etc. & absurd buybacks posturing. Initiating buybacks b4 airdrops is counterproductive due to the high tendencies of retail to dump thier stack. I expect backers like @lmrankhan to help team navigate it.
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The dynamic of the PUMP ICO shows that most bids were gulped by Institutions at 0.40, hence retail mostly bought immediately after launch @0.55$. Hence, creating a weird dynamic where both Insider VCs (from earlier rounds) & funds (from ICOs) are dumping heavily on retail.
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As a result many went caught offside/offguard. Btw this is the tweet in focus.
apart from actually using the products, the largest advantage that still exists in crypto today is the majority of participants still struggle to differentiate durable advantages that compound from ephemeral ones that decay. often an extrapolation + next-order effect question.
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It was clear that PUMP's advantages were not durable ones that compound, but were rather ephemeral ones that decay. Whilst being obvious, many were hooked to the Past stats that it was the fastest protocol to reach $1B, while forgetting that Markets are actually forward looking
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The sentiment on CT leading to $PUMP launch was perplexing with loads of Analyst, Funds etc. having consensus views that $PUMP will have a $HYPE like run, without reflecting on d divergence in compounding advantages of both as @0xsmac said.Times like this it pays 2 b Contrarian.
Been seeing this Gap evidenced in lots of the $HYPE vs $PUMP Comparisons lately. Will check back 1 year after $PUMP TGE.
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RT @Protext_io: @aevoxyz @HyperliquidX @Lighter_xyz Lighter journey so far & its future roadmap is one of the most impressive I've seen in….
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RT @HyperliquidX: Open interest has reached new all-time highs seven days in a row. Today's OI record was $13.8B. Fees also continue to g….
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Indeed @Lighter_xyz has successfully followed this model, leaning into Ethereum's core offerings (security, censorship resistance, proofs) where customizing App-Specific features to fit its niche & will massive benefit from $ETH Composability.🕯️.
The best way to build an L2 is to lean into the L1's offerings (security, censorship resistance, proofs, data avail. ) more, and reduce your logic to just being a sequencer and a prover (if based, just a prover) over the core execution. This is the combination of trust.
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Incredible seeing a Crypto Project practically actualize its Vision in Real time. Not the Theoretical Whitepaper Jargons meant to Impress VCs & Extract Retail. - $PUMP Prelaunch Venue - Hyperliquid.- $PUMP Spot Venue - Hyperliquid.- $PUMP Perps Venue - Hyperliquid. $HYPE $BTC
Last week, Hyperliquid was the first major venue to offer PUMP prelaunch trading. It became the main platform for price discovery leading up to PUMP’s highly anticipated TGE, with over $400M in open interest and $600M in 24h volume as a prelaunch perp. Following TGE, Hyperliquid.
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JUST IN: Sonnet Inc. partners with Paradigm, Galaxy Digital, Pantera Capital, D1 Capital, Republic Digital, and other investors to build a $HYPE Reserve under a newly-created entity named Hyperliquid Strategies Inc (“HSI”), which is expected to hold 12.6 million HYPE tokens.
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Been seeing this Gap evidenced in lots of the $HYPE vs $PUMP Comparisons lately. Will check back 1 year after $PUMP TGE.
apart from actually using the products, the largest advantage that still exists in crypto today is the majority of participants still struggle to differentiate durable advantages that compound from ephemeral ones that decay. often an extrapolation + next-order effect question.
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Hyperliquid Volume ATH.Hyperliquid OI ATH.Hyperliquid Users ATH.Hyperliquid AF ATH .Hyperliquid Mindshare ATH.Hyperliquid Builder Code Revenues ATH.$HYPE ATH. Truly a Life-Changing Ride & its still Day1. Thank You Jeff @chameleon_jeff @xulian_hl HL Community etc
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Hyperliquid Perps Integration by Phantom is much more consequential than the ALL the Robinhood & Coinbase announcements. 15M+ MAU of Phantom having access to Hyperliquid is an Unbelievable Dream & the Ripple effects both on the HL Protocol, Ecosystem & $HYPE token is Monumental
Introducing: Phantom Perps 👻 ♾️. Go long or short in just a few taps. 100+ markets. Up to 40x leverage. All in your pocket. Powered by @HyperliquidX
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Truly the Ethereum couldn't have hoped for a better Tradfi salesman than Tom Lee. No one clearly understands the language of Institutions like he does. This is way better than @Etherealize_io & all other outfits setup to sell $ETH to Institutional Clients.
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