💎 Here's Why Solana is Next:

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, the good is prevailing.

And by good, I obviously mean bulls, not filthy bears. Even though some red flags are popping up (explained below), I think we should keep leaning towards optimism.

BTC is trying to flip $113k, just shy of the $113.9k level we mentioned yesterday. Once that one goes, I think we’ll see another leg up in altcoins and start focusing on $117k for BTC. To the downside, BTC needs to hold $111k, which, so far, it has managed to do nicely.

If the next leg-up happens, I think there will be a lot of focus on SOL from here. The DAT narrative for SOL is continuously brewing, SOL/BTC is breaking up from a nice consolidation period, and as you can see here, even the DeFi TVL on Solana is hitting all-time highs.

Even PumpFun is doing great, the chart seems to have bottomed, while the protocol hit its highest weekly revenue in six months at $11.26M. Contrary to the Jewish rumours, PumpFun is holding to its word, buying back the PUMP tokens with over 99% of the revenue. In my opinion, this is great, and PUMP is turning into a legit investment.

(Side note: here’s a little Pumpfolio bet thesis I made recently.)

Overall, altcoins are what should be in our sights from here. For example, look at this one: alts are the most oversold against ETH since the Covid crash. In my opinion, extremes like this never last for long.

Now, to some of the red flags. We know that September can be seasonally dodgy, and we also know that the upcoming FOMC and rate-cut scenario will produce massive volatility. Historically, there’s always a downturn after a rate cut happens, while the run-up actually happens later.

The question is: if there’s a downturn, does it happen now or on the rate-cut date? Seeing the current sentiment and outlooks for September, I think there’s a chance markets will actually stay stronger going into the FOMC date.

Nevertheless, there are some higher timeframe factors to consider for a possible larger flush, such as this global bid/ask ratio, and VIX shorts being at extreme levels, which historically point to an upcoming market-wide dump.

I think it’s very hard to pinpoint when the dump happens, IF it happens. I also think this phase is when I want to remember that it’s not wise to get too cute with markets because when the final season hits, it will hit fast and won’t let the sidelined money hop on easily. This is basically what Bob Loukas said here recently.

Good luck!

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The important bits.

• Sophon explains “Art For Everyone, Onchain”, read here

• Plasma announces partnership with USD.AI stablecoin, read here

• Giza crossed $1.5B in agentic volume, read here

• Fuel Network decreased bridge withdrawal times to 1 day, read here

• Almanak reached $7,986,729 in investment pre-deposits, read here

• Jumper exchange adds Football.Fun for bridging, try it here

• MegaETH reminds the community to vote for ecosystem projects, vote here

• Football.Fun sees a reversal in volume with buyers coming in, see here

• Hyperwave announces Season 2: Scaling Hyperwave, read here

• Pump fun hit its highest weekly revenue in six months, $11.26 million, read here

• Inverse Finance reached $200 million TVL, full stats here

• BullaExchange hit another ATH in revenue, chart here

• Chainlink announces partnership with Demether, read here

• Rabby Wallet is teasing a Hyperliquid integration, read here

Even more important bits.

• blocmates introduced a new “DYOR” series, watch here

• Thailand meets with Metaplanet to discuss creating a Thailand BTC Reserve, read here

• ZachXBT explains the Nubcat account ban, read here

• Artist Big Sean says, "It's not too late to invest in crypto”, watch here

• Ben Armstrong, aka “Bitboy” announces his comeback, watch here

• BitGo announces HyperEVM support and HYPE custody, read here

Charts and stats of the day.

• Total stablecoin supply surpassed $280 billion for the first time, chart here

• Polymarket odds for XRP being used as a global payment system at 78%, chart here

• Hyperliquid generated $5.8 million in fees yesterday, read here

• ETH supply on exchanges continues to reach record lows, chart here

Telemetry data of the day.

PumpFun + Heaven + Bonk trending tokens for the 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).

Warning: Highly degenerate play ahead.

And I mean it - memecoin corner is the riskiest section of our newsletter. This is not a financial advice, but merely me blabbering about my latest gambles.

That said, I found this microcap growing on me. Sendit came out just around the end of the Bonk hype meta. As we know, the activity pretty much died out since, especially with USELESS going into a retracement and current consolidation.

Nevertheless, I think Bonk will come back with a vengeance, and given the current SOL strength, it might be relatively soon. Let’s summarize why I like this bet:

• Sendit is sitting under $1M circulating market cap, with 40% of supply locked out for the next 5 years

• The Bonk ecosystem and community are using “Send it” as a common community phrase

• The Sendit team is close to the actual Bonk team, hosting Sendit Spaces with Bonk twice a week

• Bonk Guy is a top holder of Sendit, and he will likely support it when the time comes

• In my opinion, the phrase, combined with Sendit branding, has a high growth potential

• The community is engaged and hopeful, even after a massive dump, which is a key factor for success with memes

Let me know on X if you guys think this one has potential, and of course, be careful!

• Privacy Cash (Privacy for Solana)

• TopStrike (EPL trading on MegaETH)

• Cypher Robotics (Robotics on Base)

• ensue (Memory layer for AI agents)

• Gyoza Finance (Liquity fork on Ronin Network)

• Pereto (DeFi)

To save you doom scrolling.

Listening to this made me very uncomfortable when it comes to debating which innning we’re actually in… what you guys think, are we cooked?

Overall, I think if we combine current sentiment with Capo blessing us with yet another bearish thesis, there is actually a solid chance to see markets bounce higher.

But the market certainly is in a dodgy phase right now, so be careful. See you tomorrow.

stay safe homies,

Hix0n 🫡