I believe Pengu is going to be a big player in 2025 due to a few factors. Pengu isn’t a memecoin. It is a hidden culture coin that serves as the backbone of a new consumer ecosystem.  https://x.com/pudgypenguins/status/1864852000707420574 1. Social Reach If memecoins are valued by the attention they generate, Pengu is on the top comp... Read more

With Binance listing $AVA perps today, wanted to put a quick post out on Holoworld as it is continuing to capture a healthy amount of AI agent mindshare. As the self-described audiovisual immersion layer for AI agents, Holoworld’s tech has already been integrated into some of the top agent platforms like Virtuals, ACT, and TopHat and they... Read more

With over 50k monthly users, PVP.Trade has emerged as the go-to Telegram trading interface for Hyperliquid. PVP is a tg bot bringing a fun and gamified experience to trading on HL with features like their clan competition system and group chat leaderboards, along with alpha opportunities for earning PVP points and possibly future HL point... Read more

gm – had a quick conversation in one of my group chats around short term positioning this week given the recent rally, macroeconomic prints, and upcoming inauguration. this is a sort of follow up on my thoughts posted to the alpha feed earlier this week, so make sure to give that a quick read as well. will post direct timestamped screensh... Read more

It’s not every day we get a token launch for a bona fide sector leader. On Wednesday, Jan-15 (tomorrow), Derive (formerly Lyra) will launch its DRV token after a 9-month transition period. Lyra has led the DeFi options space for most of its tenure, but options have failed to take off and the sector has lacked a blue chip with a valuation ... Read more

Let’s talk about something you couldn’t have missed in the crypto world – SUI’s meteoric rise to a $50B fully diluted valuation. But something more interesting to answer is: where’s all that money flowing? As someone who’s been tracking L1 ecosystems for a while, I’ve noticed a pattern of how capital fl... Read more

gm – so far 2025 has brought with it some extremely volatile price action. as we move into the final week before the new administration takes office, I figured I would give my thoughts on how markets have played out so far. from jan 1 through jan 6, nearly 4bn in BTC OI (from 26bn to over 30bn) was added to markets. during this timeframe,... Read more

You’ve probably seen Boyco and Berachain over twitter the past week or so and are confused as to what it is with the chain not live. In essence, it’s pre-launch points farming. Berachain pre-deposits have hit >$1B recently as people begin to farm one of the most anticipated L1 launches this year. Right now Berachain is in the “pre-Boyc... Read more

Risk in the context of financial markets follows similar logic to the conservation of energy — it is not something that can be created nor destroyed, but only transferred. This implies that any attempt to mitigate some risk is inherently subject to some symmetric tradeoff. This framework is especially useful when conceptualizing DeFi’s la... Read more

Introduction Our fund thesis is entirely premised on the Internet Financial System. It is our Kierkegaardian idea to live and die for, and we often find ourselves attempting to explain the promise and meaning of the Internet Financial System to our friends and investors. It’s a difficult task because so much of the existing financial syst... Read more