Of course you think the ETH ETF flows will be low. You're a first cycle BTC maximalist. You just finished some Bloomberg pundit, probably Seyffart.
You're gunna be convinced of that til next month when you get to kamikaz_FIAT, then you’ll be on about Grayscale unlock and how
Solana was a highly calculated and meticulously planned operation to synthesize a crypto asset hype cycle to allow its backers to recoup their losses, protect themselves from lawsuits, and extract speculative capital from the crypto industry.
The bull thesis for Solana was that
Few are discussing the single most bullish catalyst
Everyone talking about Gox will run out of coins
FTX payouts will start
The election
But in 2 months, CZ is released and can get back into crime full time
Casual reminder that Vanguard lets you buy BITO (bitcoin futures ETF), 3x levered ETFs that all lose money, and soy-infused ESG funds
But you can't buy Blackrock's BTC ETF
Fascinating behavior
Key Levels for ETH:
4100: Ansem is liquidated
4900: ATH break
5600: inflation-adjusted ATH break
6969: good meme
9000: Vegeta meme
10,000: GCR prophecy came true, gets on Forbes list
We are witnessing the death of Solana
The Solana Foundation, under pressure from the Feds, are unable to deploy the algorithmic trading strategies to defend this diagonal level. We are witnessing history.
“Big TradFi won’t buy ETH”
“It’s too complicated. These guys are conservative. They don’t understand it”
Ken Griffin: “Ethereum will replace Bitcoin”
Carl Icahn: “prefers Ethereum over Bitcoin, it’s a store of value and a payment system”
Stanley Druckenmiller: “predicts
1/ Ah!! What a crazy day yesterday was. Finally now getting a breather to tweet about the Solana network troubles yesterday and what it meant for us. It was obvious that $142.069 was the bottom of $SOL and bears had to be punished.
It is with a heavy heart I announce the sale of my long term bag, ETH. Most of my early followers know me as this bag from $1. My kids know me as this bag. I met my wife when I WAS this bag and had my first kid when I was still proudly wore this bag. By extension, it is part of
Re:memecoins via
@cobie
This is a good way of putting it/sums up my opinion
Will add to the “quite sad” part—the trend of supposedly serious “VCs”, builders, and industry activists promoting this meta is one of the worst parts
No point in fighting it tho, just my opinion 😞
Larry Fink on Fox:
-market is not in a bubble
-productivity increasing, most companies seeing positive earnings momentum
-optimistic on GLP-1 drugs
-takes a LT view always
-“very bullish on the long term viability of BTC”
-asked about ETH ETF, “we’ll see”, not worried about SEC
Man this is interesting
I voted yes because my goal, always, is to just keep making good decisions. They add up over time, I’ve been doing this for 15 years.
Most people have a number they chase or a number of X. Reality is you take what the market gives, you can’t squeeze
The year is 2030.
The world runs on Ethereum and its layer 2/rollups. LUNA PERP is still listed on FTX and trades at .00000000000000000000004 with giga trapped shorts paying 5%/day forever to Sam. The LUNA supply is so large it requires scientific notation.
Okay on a serious note, here is the mega recap:
-pricing this in will likely take months. Less than 24 hours ago, the market was pricing this outcome at ~10% probability. In addition to that, ETHBTC has been in a 20 month downtrend since The Merge and it has been 14 months since
Rode this “no VCs, coin of the people” branding
Cashing out $200MM cold hard cash no vesting
Still own the vast majority of the project going forward
Congrats to “long term investors” who bought into $7B FDV public sale
Magnum Opus
Unconfirmed: LP states that Multicoin GPs sold their personal SOL stashes near the top while refusing to sell for the fund and bull tweeting. They made lavish real estate and automobile purchases and have failed to return necessary $ to LPs for tax obligations.
Haters take note
-confirms was involved in making the coin
-he reached out to a main character to endorse the coin
-confirms he was the 2nd member of the telegram
-denies that GCR was approached to endorse the coin, claims GCR is lying about this
-still claims he owns 0
prison if lying?
Look, I’m gunna be the voice of reason here
Seems that a bunch of washed-up celebrities come to crypto and their first order of business is launching their own sh*tcoins.
“They’re actually interested in crypto”. Surely no paid promotion and no dumping their own coin. Let’s
Since GCR hadn’t tweeted this cycle at all, retail newbs wouldn’t even know who he was, couldn’t tell him apart from a random mutant ape scammer
The engagement was driven by 2nd, 3rd, and 4th cyclers
We are so early
I was already bulled up af on ETH, but the combo of this Grewal tweet and UNI fee switch has me thinking a large victory was won on regulatory side and that we will soon find out about it
We can hit ATH with a pitching wedge ⛳️ 🏌️♂️
If you’re wondering why ETH bois are so happy about the monthly candle being up 42% when random alts fly that much in a day
it’s because of 9 figure positions
Remilio
The ETH ETF trade: how I'm thinking about this
There are several key pieces in this trade, some known and some unknown. So will lay some out:
Known(ish):
-It will be approved soon (okay this is not a lock but seems to be the case)
-Grayscale's ETHE has close to 3MM ETH (2.5% of
Basically every dollar that enters Solana memecoins goes through SOL pair, even if the buyer goes onchain with stablecoins. This is like a combination of DeFi Summer (SOL liquidity pairs, in 2020 everything was ETH pair) + NFT mania (except the NFTs are memecoins now)
Reflexive
BTC maxis concern trolling “Wall Street taking control over Ethereum proof of stake”
Me realizing they’d need to buy 15-20MM ETH to do that and price would be $50,000
I want you to know that I literally have HUNDREDS of screenshots and bookmarks and will be running a 3 month long victory lap campaign when this gets over the finish line
Will probably be burned at the stake for this
There’s no denying the momentum Solana has and how important
@solanamobile
is in that going forward
The UX of shitcoining on Solana is way better than mainnet or any L2 rn. New users -> Solana
Pressure is on Ethereum ecosystem 🔜
Gary Gensler is multiple moves ahead.
An $ETH ETF will be devastating to Ethereum and usher its inevitable demise.
I’m ashamed we didn’t see it sooner.
Imagine the smell
>crab into year end
>everyone loads up for 2024-25 bull mkt/halving
>big recession hits Q1, economic malaise
>failed pump on halving, everyone starts talking about how it's actually over
>sweep lows, tourists finally quit
>low vol 2026-27
>pump 2028 halving
Re: “SOL ETF soon”
Seeing a lot of misinformed opinions about how this is next. It’s not. BTC and ETH will remain in a class of their own.
SEC relied on a ~32 month sample period for correlation analysis between spot and CME futures. Given SOL CME futures do not even exist yet,
It’s gunna get really weird around here soon
Lower your IQ. Bang your head against the wall. Axe says you need to do laughing gas and find ways to fry your brain cells.
That is your only chance at outperforming the zoomers.
Remilio.
if the SEC goes nuclear on Ethereum, I'm confident they will lose.
They lost to Ripple
They're losing to Coinbase
They lost to some random sh*tcoin in Utah
Desperate attempt by a lame duck SEC. Would be a shame if price just went up anyway.
Remilio.
The main reason this cycle “sucks” (so far) is there has been no real innovation or breakout app
Last cycle had DeFi, NFTs, even GameFi like Axie
I think a lot of skepticism and bearishness you see emanates from people who didn’t believe BTC could be this high on the ETF
Just spoke to GCR and we read Kang’s article out loud to each other, alternating each sentence
By the end we were in complete agreement
There will not be a single spot ETH ETF buyer 🐻🎯
The study meme is actually top 3 that CT has come up with
Allows you to succinctly justify any point you make in a mysterious and perhaps convoluted way
This will be useful later to justify $5,000,000 per BTC targets late cycle
🇮🇳 🇮🇳 🇮🇳 TODAY IS WORSE THAN SEPTEMBER 11 FOR INDIA ✈️ ✈️ ✈️
ANGER
😡😡😡 WE DO NOT FORGIVE, WE DO NOT FORGET 🇮🇳 🇮🇳 🇮🇳
🚫🚫🚫 ZKSYNC WILL REGRET MESSING WITH INDIA 🚫🚫🚫
Lets look at some 𝐧𝐮𝐦𝐛𝐞𝐫𝐬 to explain the magnitude of the Sybil problem: 𝐃𝐲𝐦𝐞𝐧𝐬𝐢𝐨𝐧
If you staked 1000+ TIA you got 1500 DYM, at $6 this is $𝟗𝟎𝟎𝟎
If you staked 1000 TIA via 1 TIA on 1000 accts, you got 1000x215 DYM, that's $𝟏,𝟐𝟗𝟎,𝟎𝟎𝟎
𝟏𝟒𝟑𝐱 𝐟𝐨𝐫
Would incinerate anyone in the airdrop/incentive design debate
Especially if they start with populist framing "the rich get richer"
No. Sybils do.
Let's talk about design, differences needed for different protocols, and the edge cases. Have thought thru it all
yall are weak
Simple, facts only:
1) Grayscale won lawsuit which Gensler identified as key in forcing this decision
2) the crux of the lawsuit was that approving futures and not spot was arbitrary and capricious
3) SEC approved ETH futures ETF
4) Blackrock filed a spot ETH ETF
With regards to meeting regulator reqs & securities laws for a crypto ETF, Bitcoin is in its own league, yet still barely passed with a 3-2 vote.
Maybe an unpopular opinion, but I frankly don’t see any reason we should expect an ETH ETF to pass or be pricing it in like it will.
1st cycle trader who turned $2k into $150k, owns no stables for taxes, all in sh*tcoins
“yeah GCR is absolutely washed, these old guys can’t adapt to the new market”
From the looks of it, Alameda has farmdumped about 1.9MM STG.
At an average price of ~$2.70, that means they already recouped $5MM, 20% of their $25MM public sale snipe 5 weeks ago.
They still have 100MM tokens they bought at $0.25. It's trading $1.27
I remember posting about the Sybil problem and the need for more linear methods years ago
People thought it was a bunch of dudes with 20-50 addresses
Nope 60,000!
Now you see why you can’t just “give $1000 to the little guy!”
Cuz the big guy ends up w $60,000,000!
Linear!