👀 $27B in ETH Buys Incoming. How Much Higher?

ether.fi Cash 

Become your own bank.

ether.fi Cash is the real-world spending product we DeFi natives have been waiting for for so long.

It’s time to ditch your bank altogether and embrace the crypto life:

• Spend it directly with no fees on the sale, and earn 3-5% back on every purchase—debit or credit.

• Never sell - live like a billionaire: avoid taxes, compound wealth. Don’t worry about on-and-off ramps or taxes by spending against your balance as credit debt. 

• Pay off your debt with yield + cashback: earn 9% on stables, 7% on ETH, 2% on BTC, with HYPE and SOL on the way.

• Use borrow mode: 70% LTV against your whole portfolio, “only borrow, never sell”

• Keep self-custody, earn big yield, and never pay for instant withdrawals or have your money stuck in a CEX again.

GM, it’s looking better and better innit.

Especially for ETH. People are really out there shorting ETH, as the treasury companies plan to buy $27 billion worth (here’s a good dashboard), and past 24-hour liquidations reach around $300 million. These are not the times to be focusing on red buttons.

Even BTC is shrugging off our previously mentioned potential short-term bearish scenarios. With the price hovering above $120k, it’s becoming more and more likely that we see the price discovery push above $123k first. There’s immense strength in these markets at the moment.

Either way, I’m personally shrugging off downside views as well, because in my opinion, those are just temporary. The focus is now on charts such as this altcoin season index, especially while the OTHERS chart pushes around the previous yearly highs.

The danger now lies in missing the ride, not in stomaching a possible few weeks of downside. Just my opinion, though. If you believe you can hop in and out perfectly, good luck.

Lastly, the macro tailwinds are continuing to favor us. We mentioned a little dip in global liquidity the past week, but considering the next wave of stimulus coming up in China (very well explained here), it should be short-lived.

Higher, for longer.

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The important bits.

• Jumper Mindshare campaign epoch 1 ended, check your rank here

• Sophon announces ScorePlay launch, bet on sports here

• Giza reached 3% of the total Base chain volume, read here

• Tari Show spaces hosted yesterday, listen to replay here

• Almanak explained in “Almanak Total Addressable Markets” article, read here

• Fuel Network announces partnership with Stork Oracles, read here

• Linea L2 is seeing a big rise in all-around metrics, dashboard here

• LiquidSwap has surpassed $1.5B in all-time volume, announcement here

• Pump Fun purchased ~$8,424,541 in PUMP tokens, 97.29% of weekly revenue, read here

Even more important bits.

• Tom Lee is raising $20B to buy more Ethereum, read here 

• Ethereum Core dev zak.eth lost funds after installing a malicious AI extension, read here

• Bitcoin-based memecoin platform http://Odin.fun has been exploited for 58.2 BTC, read here

• Treasury giant BitMine plans a $20B stock issuance to buy more ETH, read here

• Circle is launching its own blockchain, Arc, with USDC as native gas, read here

Telemetry data of the day.

It’s PumpFun time again.

• Trending PumpFun, last 24H:

If you want to access more of this type of data and trade freshly graduated tokens on PumpFun of Bonk, visit Telemetry here (it`s free).

EdgeX: Next Hyperliquid-like airdrop?

Speaking to some of my veteran trader friends, more and more of them are praising EdgeX. Some of them even say it’s a better version of Hyperliquid, plus you can use it on your phone.

I tried it out only for a bit, and it feels very smooth so far. Since there’s no info about the next Hyperliquid airdrop yet, I will move my stack and get points here.

If you want to join me, feel free to use this link and get 10% extra points.

Hibachi (DeFi, PROVE staking)

To save you doom scrolling.

I remember this day vividly. What a great crypto lesson this is. It felt like ETH is done and dusted, while HYPE will continue marching higher to infinity. Now we’re here.

Remember these days, they will repeat in many different forms.

A little degen pointer here. I’m seeing a nice pullback on Cupsey now, and I'm interested in acquiring some.

Alon has absolutely crushed it the past few weeks, and this one is basically becoming PumpFun's mascot. It might go a bit lower, but perhaps it’s already undervalued at its 6 million market cap? Let’s see.

stay safe homies,

Hix0n 🫡