OverCollate

Starting to check off more things off of my "top signal" list again, spooking me out.

Btc is down like 30% from ATH and people are losing their minds. Unearthing debates that have been beaten to death, having existential crises. Wtf is going on? Is this boredom?

Great listen if you want to hear some pushback on USDe and the rise of all these tokenized delta-neutral funds.
Exciting, but let's not pretend they're stablecoins.
@gametheorizing continuing to be a voice of reason in this crazy space.

People freaking out over a betting market of a Youtuber doing a 40-day water fast makes me put a lot of things into question...

We need better Bitcoin wrappers on Ethereum.

How many people have 7x their port since Nov 2022? If you haven't, you probably shouldn't try to outperform $BTC. If you have, congrats.

The general acceptance of the term "financial alchemy" this cycle is most concerning to me.
Pay attention to what people attribute that term to because I believe that same "alchemy" will be the main contributor to the painful unwind.
Fancy speech for: beware of ponzis.

The second the market becomes frothy again, everyone's launching their own L1.
Last cycle it was to make up for Ethereum's scalability, now it's to chase the stablecoin narrative.
Always opportunities to capture value in the short term, but don't forget where most of these projects end up. Look at how many of the hot 2021 L1s are still relevant today.

Starting to appreciate the fact that narrative follows price and not the other way around.
The market will try to associate a narrative to price movement to explain why it's happening. Basically always retroactive.

What if recession indicators like the lipstick effect (or Labubus this year) are just becoming the new normal..?
Will delete if wrong.

Just wrote a new piece on the corporate stablecoin gold rush. Why everyone wants one, why most will fail, and what actually makes stablecoins work.
If you're interested in how companies should be using stablecoins, you'll enjoy this one.

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THE FUTURE OF FRANCE IS HERE