Silicon Valley investors have long championed the idea that software is displacing legacy industries at an inexorable pace. Or more famously said by Marc Andreessen, “software is eating the world.”

Why did this play out? Because software reduced overhead, made systems more efficient, and absolutely obliterated the cost structure of incumb

If you told me 6 months ago that Zcash would start absorbing Bitcoin’s original use-case, I’d have laughed.

Today, I’m not so sure…

In fact, I believe a strong case can be made that BTC’s original cypherpunk vision has been hijacked.

Not just because it has underperformed things like the $QQQ‘s, but because its role as a sovereign, cen

The Problem with Fixed Fee Builder Codes

Builder codes enable applications like wallets (Phantom) and trading interfaces (TreadFi) to route user transactions through perpetual protocols (Hyperliquid) while earning a share of the fees. The fee structure here really matters. Fixed minimums create barriers, while revenue sharing unlocks expe

On November 3rd, YGG’s publishing arm (YGG Play) kickstarted its new launchpad with the launch of $LOL – the in-game token for its flagship P2E game LOL Land. After a choppy launch, the token is currently sitting at roughly a $3.6M FDV, representing a ~4x for launchpad participants.

So, how does this launchpad differ from the others, wha

Across Bitcoin’s history, November has consistently behaved as a structural pivot month and the timing of its monthly low often reveals the underlying market regime.

Between 2020 and 2024, the distribution of November lows shows a clear bifurcation: in bullish markets Bitcoin bottomed within the 1st week of the month, while in bear or tr

I’m thinking something like this for MON prob…

– premarket traders, apparently.

I did premarket trading for the first time to long MON under $6B. Here’s my mid-curve thesis:

Do you guys really think they raised $250M, took 3 years to rebuild Ethereum from the ground up, hired CTs top social media gurus, went super polished overkill on ev

10/29’s FOMC meeting could quietly mark the end of the quickest/steepest balance sheet run-off in modern history.

The Fed’s total assets (WALCL) have fallen $2.39 trillion since 2022, a –26.6% drawdown over 1,288 days, the steepest and fastest decline ever recorded. For comparison, the 2015-2019 QT cycle only reached -16.8% over nearly

When I dropped my Paradex deep dive last month, I laid out why their first-principles approach could redefine DeFi exchanges. Recently, after the October 10th crypto massacre, I caught up with Paradex founder Anand to discuss how they weathered the storm.

In this short update, I want to zero in on an under-discussed aspect that Anand and

BTC remains caught between the 9EMA and 21EMA on the 1D chart. Until a confirmed crossover occurs, I don’t expect a sustained trending move. The current setup reflects typical compression behavior – sideways chop as EMAs slowly converge.

The projected 1D EMA 9/21 crossover is currently set for late November, but that estimate will shift

Last week, the Hyperliquid team enabled HIP-3, opening the door for permissionless, builder-deployed perp markets. Shoku and the TradeXYZ team were the first to launch one, XYZ100, an RWA perp tracking Nasdaq futures. If you need some background on HIP-3, there’s a good deep dive here.

Of course RWA perps are nothing new, but seeing a U.S