🍌 Welcome To The Banana Zone. Is This Only The Beginning?

GM, Raoul Paul was right.

The Banana Zone is real—and we’re deep in it. Hits vape. At this point, the only real questions are: how much higher, and which altcoins will lead the way?

For mid-term targets, I’d suggest keeping an eye on this particular setup. There’s solid confluence here—it keeps popping up across the playbooks of some of the best traders I know. As for the long-term, definitely keep a good watch on this one (highly recommended follow).

Overall, we have to remember we're now deep in uncharted territories. Even the most skilled technical analysts are merely guessing. This is crypto; anything can happen. As days go on, we'll watch for potential signs of slowdown and consolidations, which could turn into distributions - but we`re not there yet.

One factor that makes me think this is merely a beginning is this trend. There`s no one here yet! It is still mostly just us, chronically tuned-in crypto people. I mean, the Coinbase app rank is still below 100.

When it comes to altcoin trends, I would certainly look for safe paths in the ETH DeFi ecosystem (explained below), dive into the Hyperliquid ecosystem (BUDDY for memes, LIQD for utility etc.), or stick with the current narrative leaders like BONK. There will be dips, but those are for buying (IMO).

Also, watch out for how the Solana ecosystem reacts to the upcoming PUMP token listing (details on upcoming distribution are here).

One thing I learned throughout the years is that it`s always possible to see a retrace, but at the same time, everyone underestimates how crazy things really can get. Banana mode until proven otherwise.

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The important bits.

• INFINIT covered in new blocmates research article, read here

• HyperSwap announces CLOB upgrades and more, read here

• Ramses partners with LiquidSwap on HyperEVM, details here

Even more important bits.

• The hacker behind the $40M GMX exploit has started returning funds

• Full PumpFun sale breakdown available on blocmates, read here

• Coinbase announces OnChain Summer rewards, join here

• Trump announces 30% tariffs against EU, Mexico to begin August 1

• Federal Reserve Chair Jerome Powell reportedly considers resigning

• Ethereum plans to launch an L1 zkEVM within a year, aiming to integrate ZK proofs

• Sonnet BioTherapeutics, Inc. announces $888 Million HYPE Treasury Reserve Strategy

Charts and stats of the day.

• Bitcoin has officially flipped Amazon to become the world’s 5th-largest asset

• ETH shorts hit record highs, squeeze incoming?

• Hyperliquid hit a new OI ATH two days in a row

• HyperUnit is now the largest individual entity holding FARTCOIN

• SharpLink Gaming adds 21,487 ETH via Galaxy & Coinbase Prime

• Digital asset products see $3.7B in weekly inflows, the second-largest on record

StalkChain spots the next big meme coins early by tracking top wallets and smart money moves in real-time.

See what whales are buying, follow top-performing traders, and analyze token trends before the crowd.

PS: Use code BLOCMATES for 20% off, but shhhh it's our little secret.

ETHUSD 1W Coinbase

NFA, but I’m thinking ETH runs it turbo to the range high at $4,140 from here. The Decade VWAP’s Value Area High (top green line) is now reclaimed. RSI tested 50 and moving up.

In terms of the marginal buyer, Tradfi, led by Cathie Wood, is finally moving to buy the World Computer. This has always been the problem for ETH at 4-digit prices: not enough buyers with deep pockets. Wall Street does not care about all the CT hate, scaling FUD, Eth Foundation jeets. None of that matters in these conditions. Crypto Twitter already has number-go-up amnesia about all the mean things they’ve said.

We’ve been in this range for over four years now. When we eventually leave it behind, there should be fireworks.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Telemetry Time.

Let`s check on trending tokens on Telemetry shall we:

And also the top coins favoured by Telemetry whales today:

You can access all of these data for free on the Telemetry terminal here.

The crypto week.

The regulatory frameworks in the US are getting pretty friendly for our favorite magic internet coins.

Below, you can see the outline for this week`s happenings. As we mentioned in the commentary, there are a few sure-fire bets for this narrative, given that we see ETH strength continue from here.

• Maker

• Chainlink

• Aave

• Curve Finance

• Convex

• FXN 

• Ethena

• XRP

Rumpe Labs (Automatic HyperEVM point farming)

MegaETH (Fluffle NFT) - Prepare for the second mint here

HyperStrategy (Microstrategy of Hyperliquid) - Launching July 21st

To save you doom scrolling.

As we enter the mania again, I can already smell many frothy conference talks coming up. This one is my favorite. Recommended listen.

We are firmly in lands never visited before. No degen has ever stepped so far as we are now.

Here`s a nice little piece of wisdom I stumbled upon. Good luck out there!

stay safe homies,

Hix0n 🫡