Since my last alpha feed post, Pengu has basically dumped and revived in the span of a few months. This post provides an update on Pengu changes and examines what might be driving the recent volatility.
Pengu is a tricky asset to value because it’s hard to quantify how relevant cultural attention is to buying deman
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Pump Fun is a controversial app. It’s one out of a handful of crypto’s breakout apps over the last few years, but its also extremely hated.
And the haters have a point. Pump Fun has objectively had a net negative effect on onchain wealth distribution. Most people who traded on it, or traded coins issued on it, lost money. Over 60% of addr
...As of yesterday’s close (2025-07-13), the Delphi BTC Top Signal intensity reading was 61.8. The past two cycles saw the intensity register above 80, suggesting that we are not yet running hot.
A backtest of the current positioning shows that we could see further upside over the next 1-3 months. Here is the full report:
CURRENT SITUATION
Crypto is gearing up for another halving, but this time it’s not Bitcoin. Bittensor – branded as the “Bitcoin of Intelligence” – is approaching its first halving event, projected to occur sometime between December 2025 and February of 2026.
Like Bitcoin, TAO has a hard-capped supply of 21 million tokens and uses scheduled halvings to con
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As of writing, I have just finished a show where AJ Warner of Arbitrum appeared to discuss the new Robinhood L2, which utilizes Arbitrum Stylus as part of its tech stack.
To understand the Robinhood L2, we must first understand why they chose Arbitrum Stylus. Ultimately, AJ stated that Robinhood’s end goal was to create a tight feedback
...With BTC hitting a new ATH, our underlying intensity readings are nowhere near overheated, suggesting that there is room to run. We will begin to flash warning signs once we record intensity readings in the range of 75-80. Until then, let’s goooo!
Recall that we recently posted about the Top Signal indicating bullish condi
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Over the last ~6 months, a handful of relatively unknown AMMs have quietly captured an overwhelming share of trading volume on Solana. SolFi, ZeroFi, and Obric now account for over 57% of total trading volume on Jupiter.
However, unlike the standard design, these AMMs are proprietary, closed-off liquidity venues built specifically to ser
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Over the past five years, Bitcoin has exhibited a structural shift in its macro correlation profile. Once dominated by its relationship with tech equities, particularly the Nasdaq (QQQ), BTC’s price action has increasingly tracked traditional financial institutions. This change reflects more than just market coincidence. It marks a trans
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Liquity v2: take two is starting to take off, with BOLD eclipsing the v2.1 circulating supply. Friendly forks are rolling out and PIL incentives are beginning to attract bribes for LQTY stakers. To understand the implications for LQTY holders, it is useful to examine the bribe business and what drives it.
The overarching metric in the
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