Supply control and a big story are the key After this “extraction” stage ends, tokens will be highly likely priced based on hard metrics - revenue, TVL, user base or any other business parameters Those project that will not have great performing yet, will need to be able to sell big stories in order to capture market and investors attention. For pre TGE coins it’s kinda easier - people gamble around imagination But for already listed tokens it’s going to be challenging - if too much supply is out of control, then harder to create any positive price impact, then much harder to get attention (remember - people buy pump). Conclusion - find projects with great metrics or great stories, that have enough cash or strong financial partners to buy back supply and control it properly. These are the best bets now. When market is up - they will outperform and it should be very lucrative to offload bags easily on high demand. Think different. Cheers

Supply chain checks suggest the market may be massively underestimating HBM4 pricing power. HBM4 is around $15/GB this year. For 2027, checks point to potential pricing of $60/GB. That is not a normal memory upcycle. That is a 4x pricing reset in one of the most constrained components of AI infrastructure. If this plays out, SK hynix remains my highest-conviction HBM exposure: strongest HBM positioning, highest exposure, best customer alignment. Not financial advice. #sk# hynix

Money supply is significantly outpacing economic growth across major economies: Canada's M2 money supply has grown +368% since January 2004, the largest increase among G7 economies. By comparison, the Canadian economy has expanded +159% over the same period. The US follows, with M2 growth of +279% versus a +171% increase in nominal GDP. Meanwhile, M2 in France has surged +258% and +211% in the Euro Area, both outpacing nominal GDP growth of +84% and +102%, respectively. In Japan, M2 has grown +90% since 2004, while its economy expanded just +25%, the slowest pace among G7 economies. The gap between money creation and economic growth is widening.

Chainlink supply keeps draining off exchanges More than 15.7M $LINK left exchanges in a month. A 12% drop in the supply parked on trading venues, per @SantimentData, with another 1.04M out on Sunday alone. Fewer coins on exchanges usually reads as less supply sitting ready to sell. It also lands the same month @The_DTCC ran its first live tokenized-securities trades, with @chainlink securing the plumbing. Supply tightening while the institutional use case gets more real. Holders positioning around utility, not the exit.

Worldwide supply chain pressures are rising: The Global Supply Chain Pressure Index is up to 1.8 points, the highest since July 2022. This index measures how difficult it is for companies to move goods around the world, with positive readings signaling worsening disruptions. The index jumped +1.1 points in April, marking the biggest monthly increase since March 2020. This surge was driven by the Iran War, amid the closure of the Strait of Hormuz. The longer these disruptions persist, the worse delivery delays and price pressures across the global economy will become. Global trade is facing a historic disruption.

EQUITY SUPPLY from stock-based comp a growing source of incremental dilution ($AVGO, $NVDA, others...) "While companies may be able to manage their workforce by adopting AI, Enablers continue to see rising labor costs due to large equity grants used to recruit critical talent. Companies with the highest SBC expense have been offering growing SBC packages over time, exceeding employee headcount growth" (MS)