Icryptan | Head of Research
@icryptan
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Deep in drop meta. Alpha for users, insight for builders. Backed by data.
web3
Joined October 2021
Hi everyone! I’m Icryptan, and I’d love to connect with you. Here’s a bit about me: . My content will focus on drops - their mechanics, goals, and launch design - along with my thoughts on the web3 world we’re building together. 📋. A few months ago, I started my journey on X,
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Market’s feeling alive — and I’ll start tracking it daily through ETF flows and Coinbase appstore rank 📊. Spot ETF Flows: .BTC: -1,115 $BTC (-$131.5M) .ETH: +80,767 $ETH (+$296.5M). Coinbase App Store Rank (US): #118 .ETH Gas: 0.91 Gwei ⛽️. Let’s see where this momentum takes.
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Want more breakdowns like this — based on real PnL, not vibes?. Follow @icryptan for weekly post-drop analysis from inside the farm. 🔗
I tracked real drop results from this week. This post includes what we earned inside the company - and whether we made money or just broke even. In this thread: .- $IKA disappointment .- $TRN downside .- $ES rewards math .🧵
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5/ What does it all mean?. 📈 We’re in a bullish phase - and still most drops aren’t profitable. Why? No utility. No real users. Just farmers. Valuations are punishing any project that lacks traction. No more hype premiums - unless you’re $Linea or $OG Labs. Let’s see if.
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4/ $ES (Eclipse) -mixed bag. I personally farmed via LP positions on their internal DEX. • ~10% ROI over 3 months .• That’s ~40% APY - if you exited near the top . • But manual activity was brutal: . - ~0.5 $ETH in gas . - Got back 0.15 $ETH. Some got lucky via.
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3/ $TRN - good mechanics, bad execution. Hard to qualify, few got rewards. They delayed token unlock by 3 days to reduce dump pressure. But it didn’t work. 📉 Current FDV = $30M (with Polychain backing). Still most of the drop hasn’t unlocked. Likely to dip to $20M. We.
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2/ $IKA - high hopes, low outcome. Pre-market valuation: $700M–$1B. Sounds great - but the actual reward?. 5 tasks, each costing ~0.1 $SUI. Full completion = 25 $IKA tokens ≈ 0.5 $SUI. So you spent 0.5 $SUI to get. 0.5 $SUI. 🔻 Net gain = zero. Just broke even. And.
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1/ This week was fully consumed by internal ops. Why? The market pumped → projects launched → time to claim and measure. Launch = the only moment you see if your farming paid off. And this week showed how much the meta has shifted - especially on $IKA.
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I tracked real drop results from this week. This post includes what we earned inside the company - and whether we made money or just broke even. In this thread: .- $IKA disappointment .- $TRN downside .- $ES rewards math .🧵
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Nice update about $SEA OpenSea.
GmOS ! Here's some updates and TLDR on the @opensea discord AMA with @HollanderAdam yesterday ! 🌊. Note ! if ur looking for an answer for the most famous question "WEN TGE" then you won't find it here. Because they still haven't announce it. But if ur looking for some updates
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Eclipse $ES launched. Remember when I put them 3rd after $Linea and $Ink? Here's the final verdict. 💰 First, the alpha: DEX prices 10-40% higher than CEX. Sold on @orca_so while Bybit/Bitget traders got rekt. My breakdown:. Market fit: Still missing. Good execution, but
Which of the new L2 chains will become a legend ?. Linea ( $LXP ), Ink ( $INK ), Eclipse ( $ES ) are all like launching soon. No killer apps yet. But high expectations. This thread: .— Market fit comparison .— Timing & marketing mistakes .— Tokenomics & final ranking .🧵
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Took a break from the trenches last few days. Touched some grass, cleared my head 🧠. And it hit me again: if you stay zoomed in too long, you miss the macro — and that’s where alpha shows up. Summer’s still the dead season… but usually, one new meta is born. DeFi Summer.
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What does it mean? $SBET?.Linea token ticker or LRT ticker token?.
The asset is ETH. The ticker is SBET. The chain is LINEA. 🎉 🥳.
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I remember there was a pre-market for Linea $LXP on some CEX - with a few million in daily volume. Now it’s gone. Can’t find it anywhere. Anyone remember which exchange it was?. Would love to check what the market was pricing in back then - and how it compares to current
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If you're tired of guessing valuations without context — track listings, not narratives. Follow @icryptan for real launch data and frameworks that actually work. 🔗
Find out what FDV a project will launch at — just by looking at its exchange listing. I reviewed dozens of TGEs and found a pattern: Binance, Bybit, OKX and Korean CEXs give clear valuation signals. This thread: .— FDV by exchange .— Real cases .— Why 🇰🇷 leads .🧵
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5/ Final thoughts. The market has repriced. Your best early indicator of FDV? .The exchange that lists it:. 🇰🇷 Korean CEX → $600M+ .🟡 Binance → $300M+ .🟠 OKX → $100M+ .🟣 Bybit → $50M+. Use this to size your entry.
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4/ OKX (Tier 2). No exclusive June–July listings, but OKX still delivers. Most launches land at $100M+ FDV. Mechanics are strong. Liquidity is there. Their launchpad supports pricing power. ✅ I’d rank OKX above Bybit — $100M+ FDV is a reasonable assumption.
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3/ Korean CEXs (Upbit, Bithumb). • Sahara AI ( $SAHARA) — $0.9B FDV (with Upbit), now $769M .• Newton ( $NEWT) — $0.6B FDV (with Upbit), now $308M .• Lagrange Labs ( $LA) — $1.2B FDV (with Bithumb), now $570M. 🇰🇷 Korean listings are strong signals. Projects with Upbit or.
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2/ Bybit (Tier 2.5). Examples without Binance listing:. • Fragmetric ( $FRAG) — $160M FDV, now $60M .• ICNT ($ICNT) — $280M FDV, now $186M .• Humanity Protocol ( $H) — $400M FDV, now $510M .• Skate ( $SKATE) — $60M FDV, now $40M .• Bombie ( $BOMB) — $16M FDV, now $7M.
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