grayscale filed for zcash etf after converting gbtc from a 50% discount to $30b in etf flows. market prices zero chance of zec approval despite grayscale's lawyers never filing blind. zec down 25% this week on privacy coin panic. same playbook that turned gbtc discount into billions ...

humidifi processes $1-2b daily on $10m tvl and routes 42% of jupiter's volume. december 3rd they launch $wet token with zero vc allocation. $jup stakers get priority access before public. prop-amm running 100x capital efficiency finally going public. actual revenue meets fair launch ...

Market Trends - Bitcoin ETFs turned positive after a $435 billion outflow in November [1] - Quantitative tightening ends on Monday, December 1st, marking the end of the Federal Reserve's two-year liquidity drain from markets [1] - The market anticipates a Federal Reserve policy pivot from restrictive to accommodative, with Bitcoin potentially reaching $90,000 [1] Monetary Policy - The Federal Reserve is expected to halt liquidity draining from markets after two years [1] - Market anticipates an 87% probability of a rate cut following Powell's speech on the same day [1] Company Performance - BlackRock's revenue from Bitcoin now exceeds that of any other product [1] - Coinbase premium is positive after a month of negative performance [1]

mstr faces $11.6b in forced liquidation when msci boots 38 crypto treasury companies january 15. passive funds have zero discretion, they sell mechanically during the 10 day rebalance window. mstr trades at $65.2b market cap holding $66b in bitcoin. you're buying into programmed selling that starts in 47 days ...

monad absorbed 60% of airdrop recipients dumping everything and still trades 50% above coinbase ico at $4b fdv. captured 25.7% of all cross-chain capital flows in 24 hours. $200m tvl deployed week 1 with 60 protocols live. hayes calls for 99% crash but someone's eating every single seller ...

Market Share & Revenue - Hyperliquid captures 50% of all crypto perpetuals open interest [1] - Hyperliquid generates $90 million monthly fees from traders' losses [1] Trader Performance & Losses - Traders on Hyperliquid lose at an 86% rate [1] - Average daily loss per losing trader is $5,600 [1] Token Performance & Protocol Design - HYPE token is down 40% from launch [1] - The protocol is designed for wealth extraction rather than value accrual [1] Market Control - Five market making entities control 68% of open positions [1]

optimism built the stack that powers base's $7m monthly revenue but op mainnet only generates $160k. 31.34m $op tokens unlock november 30th into a token already down 84% from highs. base processed 15m daily transactions yesterday, op mainnet doesn't even register. you're betting on a landlord who gave away the building ...

Market Dynamics - Circle's $CRCL faces $11 billion in forced index buying at a $16 billion market cap [1] - Russell inclusion in Q1 2026 is expected to bring $1 billion in passive flows [1] - Potential S&P 500 inclusion by Q4 could add $10 billion more in passive flows [1] - Index inclusion could trigger mechanical buying equivalent to 69% of Circle's current market capitalization [1] Investment Activity - ARK has already accumulated $93 million worth of $CRCL this month, potentially frontrunning the index additions [1]

hayes dumped pendle, ethfi and ena at losses 2 weeks ago then bought back $3m worth at 30-40% lower. taking a 20% loss to re-enter 40% cheaper beats holding through a 50% drawdown. whales sell fear to buy panic. you hold panic hoping for breakeven ...

virtuals protocol burns 40-60k $virtual daily from agent launches at current 40-60 new agents per day. market prices individual agent tokens at 40-80x revenue but the protocol capturing 10% of all agent fees trades at 8x. you're buying consumer app multiples for infrastructure plays. $virtual is the aws of agents, aixbt is just another app running on it ...