The Fed is expected to deliver its first rate cut of the cycle in September, and BTC’s history around cuts is mixed. In 2019 the market front-ran easier policy, then faded once the cut arrived. In 2024 the opposite occurred, with Trump’s campaign, ETF inflows and corporate balance sheet demand extending the rally.

September 2025 now sits

Flagging this now as it may be a good way to get exposure to a potential ByBit/Mantle ($MNT) rotation/re-rating

I know LTR is planning on releasing a longer, more thorough report on Mantle soon so I’ll keep this brief.

Mantle appears to be looking to tie more value back to its layer 2 token, $MNT, similarly to how Binance has directed val

It’ll shock no one that I’m pitching ENA. I’ll start by reiterating the high-level thesis, before talking about the 3 most important short/medium-term catalysts I see coming.

Thesis: a better dollar

Stablecoins are undeniably crypto’s biggest killer app outside Bitcoin/SoV. TradFi understands this and is fully stablecoin pilled, as seen b

TLDR

Between Aug 13 – Aug 18, Bitcoin has fallen ~ -8.15% from its recent high. Meanwhile, the S&P 500 futures (ES1) dropped –0.78% and Nasdaq futures (NQ1) fell –1.35%. This divergence implies a BTC macro beta of 6.0x to 10.4x,  far exceeding its empirically validated range of ~2.0x during macro-correlated periods. Assuming equity indic

LTR gives his take on the launchpad tug of war and what he thinks the future might look like in this area.

I recently had the pleasure of attending ChinaJoy, China’s largest consumer event focused on digital entertainment. ChinaJoy is known for having a heavy focus on all things gaming-related, but this year, there was also a strong showout from AI, physical goods, and Anime-related businesses. Further ado, here is a brief collection of my tak

In our last $PUMP update on July 24, Jason, Yan and I went on Unchained with Laura Shin where we discussed what it would take for Pump to turn things around. We outlined how the platform needed to take back crypto-native flow and market share before focusing on their grander visions. This would not only help support the bleeding $PUMP pri

Lido has recently seen signs of outperformance compared to many other alts. This post will briefly go through the potential reasons behind the momentum and look into if this is just hype or something more.

Stabilizing Financials

Overall, Lido has made major strides in profitability and is projected to break even or be profitable in 2025.

ETH is purely in DAT szn right now and the recent rally is unlike ones we’ve seen in the past. In 2020-21, ETH rallies were correlated with onchain activity. Whether DeFi summer or NFT szn, these were what drove prices. This time, not so much.

Gas prices aren’t moving. This is very strange to me because at a minimum you would expect a lot