andy's journal

I’m honestly more bullish than I’ve ever been on crypto, for the next few quarters and beyond. Coins way down, fundamentals are way up. Asymmetry doesn’t last forever. These prices are bargains. 2027 will be a bullish year, 2028 will be unreal.

Neo finance.

$PURR is extremely well-positioned with $593M in uPNL and $146M in cash. Will be an outperformer on $HYPE bounces to low 60s-mid 60s. Schamis mode.

Hyperliquid is cheaper on earnings per share (token) than Robinhood, Coinbase, and Circle. Bullish.

Most L1s are completely stuck between narrative chasing, lack of PMF, little to no revenues, a declining userbase of their chain, and layoffs internally. Its rough out there for the previous darling brands of the space...just an observation.

axis yield vault just opened, new up and coming ethena / sky / yieldcoin competitor different, higher yield (which implies higher risk) and is at $30m/$50m cap already https://x.com/AxisFDN/status/2082467111859859902?s=20

CEXs are winding down because HL and Lighter are going to eat their lunch and the writing is on the wall already. Only the top CEXs will continue to thrive as DEXs introduce far more pairs, better UX, and deeper spreads with more favorable terms. This will only continue to accelerate.

$ETH strength is extremely notable, especially against the BTC pair. If this starts to lead, we might get a bit of a party on alts in the coming weeks...just when the entire AI trade is unraveling, alts starting to come to life would allow for a massive capital rotation into crypto. One can hope...

I haven't seen institutional allocators ears perk up and eyes light up about anything like vaults since the BTC and ETF ETF era... Something to note.

Amidst all of the "Base is struggling" rhetoric when compared to Robinhood chain, the onchain numbers don't lie. Been relatively steady across revenue, app revenue, stablecoin supply, and TVL throughout this entire bear market. Feels very silly to make any claims about one chain being in trouble due to another's success, but we've all been there before...

ETHBTC

Interesting

Robinhood, Tempo, Monad and Plume are dominating RWA growth this month. Tokenization will continue to be the primary driver of value onchain as we enter this new era of onchain finance driven by new participants, investment firms, and institutional allocators. The winners of this trend (equities & stablecoins, specifically) will be mega valuable. I remain bullish.

The category leaders of crypto's four to five megatrends should be your focus for the next bull cycle. Perps: $HYPE $LIT Tokenization: $ETH $SOL $LINK $SECZ $AERO Stablecoins: $CRCL $SKY $ENA $FRAX Privacy: $ZEC $ZAMA $NEAR Vaults: $MORPHO This is where the majority of institutional allocation will happen, the majority of value will come. Obviously plenty are missing here, but you get the point.

Top 5 chains by 24hr Chain Fees, according to DeFi Llama: 1. Canton 2. Tron 3. Solana 4. Robinhood Chain 5. Ethereum Canton has zero 24h App Revenue, Tron's fees likely come entirely from USDT payments onchain, Solana and Ethereum in a neck and neck race, and of course the new kid on the block RH doing well. Interesting.

happy friday fam, come hang x or yt https://x.com/therollupco/status/2080701484249878895?s=20

great catch up video for those curious about robinhood chain ... talked to robinhoods head of crypto in the tokenization tower https://www.youtube.com/watch?v=Tdbat73mbVg

Every AI company IPO, macro shock, oil fluctuation, presidential speech, FOMC meeting, and just about any geopolitical event is a catalyst for perps and prediction markets to grow in size, awareness, and volume. Its actually insane how this year there's been endless events that end up being bullish for perps venues and their tokens. This is a setup that many will eventually realize but just a small amount of global investors likely see and understand right now. Long and strong. Zoom out.