A lot of people have been asking what I think about $BATON after it started running hard again, so here’s my updated view
BATON isn’t a new play. It’s been around for quite a while, and most people who have been following probably already know the narrative behind it, so I don’t want to spend too much time repeating the old story
What interests me this time is that the thesis around BATON is starting to become interesting again
The BATON/$PUMP pair isn’t new either. It has existed for a while, so I don’t see the PUMP pair itself as a catalyst. What matters more is the timing
$PUMP is currently in a pretty clear uptrend. Based on the data I’m watching, it’s up around 33% over the past 7 days, 51% over the past 30 days, and almost 300% over the past 90 days. Just from its late September lows around $0.0041–$0.0049 to current levels, it has already recovered roughly 30–50%
So as liquidity and attention start flowing back into $PUMP, I think BATON naturally becomes one of the easier names for the market to use as a bet on the broader Pump ecosystem
But my thesis isn’t simply that BATON is paired with PUMP
That has been the case for a long time
What I’m actually betting on is whether BATON could be closer to than what is publicly known, or at the very least whether it is gradually becoming a token that the ecosystem implicitly accepts
To be clear, there is currently no solid evidence proving that or Alon is actually behind $BATON. This is still speculation, and I think it should be treated exactly that way
But there are a few things that make this bet worth watching :
> BATON has been around for quite some time. It wasn’t created recently just to capitalize on the current $PUMP move. The community survived for months, and now liquidity is starting to come back
> $PUMP is getting stronger at the same time BATON is regaining attention. If PUMP maintains this momentum, a PUMP pair like BATON with existing history, liquidity and community could continue to benefit
> Holder rewards are another part I find pretty interesting. Rewards are paid in $PUMP, and a few friends of mine who hold BATON have shown me that they’ve received several thousand dollars just from rewards. To me, that matters because it creates a real incentive for holders rather than being just another narrative to sell
> also has the $PUMP buyback running while the battle for attention and market share with StonkFun continues. If Pump keeps bringing volume and liquidity back into its ecosystem, PUMP pairs that already have volume and a community become even more interesting to watch
This is why I look at BATON a little differently now
Previously, BATON was mostly a lore play
Now it feels more like a speculative proxy for a broader thesis : $PUMP continues to perform, regains attention, and the market starts looking for tokens that can directly benefit from that flow
BATON is sitting in a pretty good position for that
If nothing deeper ever comes from it, then BATON is still just a community token with good lore, a PUMP pair and holder rewards. That’s the risk of this trade
But if we eventually see any kind of recognition, interaction or deeper integration from I think BATON could be repriced very quickly because most of the foundation is already there
The chart is also making this thesis more interesting
BATON spent quite a while around the 1–2M range, eventually reclaimed 4–5M, and recently expanded all the way toward 15–16M before pulling back to around 11–12M
I entered my position around 5M, so I’m not looking to chase immediately after such a large move
From here, I’ll be watching whether BATON can hold its new market cap range, whether volume stays, and most importantly whether $PUMP can maintain its momentum
I also want to see whether we get any additional moves from or any new information that materially strengthens the thesis. If that happens, I’m completely open to chasing higher and adding to my position
For me, this is still a pretty simple bet
I’m not claiming is behind BATON because there isn’t enough evidence to say that
I’m betting on the possibility, while also betting that the market continues to treat BATON as a proxy for $PUMP and the broader ecosystem
The BATON narrative itself is old
But $PUMP is getting stronger, liquidity is coming back into BATON, and several pieces are starting to line up in the same direction
That’s what makes $BATON genuinely interesting to me again right now
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(Not your keys, not your coins) is not a meme. It’s the lesson that repeats every time a CEX says “user funds are safe” while freezing withdrawals.
That’s why it makes sense to trade perps on venues like
@HyperliquidX (on-chain order book, self-custody) or DeFi protocols like
@protocol_fx : not because they’re “cooler,” but because one company’s failure shouldn’t be able to move your capital.
Trust is everything in crypto, you either trust, or you pray to God. I’d rather trust. Still waiting for the mainnet launch of
@FX100Perp 💪
GM 🙋🏽♂️☕️🔥
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Looks like the Bitcoin maximalist "have fun staying poor" chickens are coming home to roost.
DISCLAIMER!!! Normal, innocent people lost a lot of money because they trusted the bigger voices. This is very tragic and not their fault.
They don't deserve to lose money, and they shouldn't be mocked. Those who led them to lose everything, however, should be. That's what this is.
For years, ever since the block size wars, toxic Bitcoin maximalists mocked everyone with a difference of opinion and interest in other projects.
The mantra: "Have fun staying poor."
Petty, shallow, and cruel. Repeated every time some project didn't perform well in the charts, or when a protocol or company was hacked. Used to discourage people from using actual open source, decentralized, freedom-enabling tech.
They viciously mocked the less fortunate while propping themselves up as the purveyors of the true, trusted, and foolproof way of securing your wealth for future generations.
Well, now the chickens have come home to roost.
ColdCard, the "Bitcoin-only" hardware wallet of choice, was exploited due to poor design, losing people untold millions of their savings.
The same week, Bitcoin Judas Michael Saylor, their god whose only trick was to buy Bitcoin forever and make everyone rich, announced he's selling $5 billion more in Bitcoin.
As mentioned above, I don't want to see people lose money. I don't delight in human misery.
But the perpetrators of so much of this are finally seeing their empire of lies crashing down, and I have a keen interest in salting the earth there so that it never grows back to harm anyone ever again.
If you haven't mocked a toxic maximalist influencer yet today, maybe this graphic will be useful to you.
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