is it just me, or does the $DRV chart look insanely strong? i think many people underestimate how much upside onchain options have compared to CEX options (Deribit etc.) and i can't even imagine what happens when tradfi options come onchain, basically 24/7 trading, like oil options on the weekend (see trade xyz) not just a derive bet, but on onchain options as a whole

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We just ran some numbers on $usde for $ena - usde supply is the main catalyst for Ethena price and it's growing rapidly right now. We also factored in the btc price and it's effect on usde supply and Ethena price again. The first part is where we factored in the supply and funding: $0.25–0.30: Usde $10B, but funding remains average. $0.35–0.50: $10B USDe + a genuine bull funding environment, roughly 10–15% protocol revenue yield.. ~$0.55–0.80: USDe starts moving toward/through $15B and the 15% take becomes credible/active while funding remains strong. ~$0.80–1.10+: $15B is sustained, protocol revenue yield resembles a very strong historical bull environment, and the market simultaneously gives ENA ~40–50% of HYPE’s cash-flow multiple. Our assumption of 40x multiple is still lower than 50x+ of CRCL, and ~150x of HYPE. We assign discount to HYPE's multiple as earnings are cyclical. What I love about this trade is they you can have realistic maths based targets and not just some fugazi numbers made out of thin air. This is probably the highest confidence trade you'd come across in current market. Remember this is purely maths based and does not price in the euphoria and shilling. So in real you can 1.5x - 2x the price targets.

interesting to watch how $dime by paradex is performing honestly it's a loser project. for those who don't know: right after TGE their perp volume dropped from a steady $ 1-2b a day to a miserable $ 10-20m (a 100x drop lol), and just a week ago the token was sitting at an absurdly low $10m fdv but literally in the last few days they latched onto the onchain options hype, and the token did a 5x, plus volume on their options went up several times over just an observation, nothing more. not really my style to invest in loser projects

I am still susceptible about on-chain options, there's only a handful CEXes ever mastered the complexity of the margining and order matching. let alone DEXes, not sure the backend is sufficient to scale.

tldr: they softly said HyperEVM is dead, and they're going to fix it and that's beautiful "On a normal day, HyperEVM usually only contributes about ~$1m annually to the network value, and if you ask any token holder, no one prices the HYPE token anywhere near the current valuation based on HyperEVM activity"

「RobinHood Lighter ↔ Lighter 价差套利工具」 这是一种蚂蚁搬家策略，昨天实盘下来200U本金 盈利2U左右，后续我也会继续分享这个测试的实盘和更多工具 Lighter @Lighter_xyz 与Robinhood @RobinhoodCrypto 合作的Robinhood Chain Lighter变相开启了Lighter S3 Season，引发了Perp圈子的瞩目，这种明确的空投奖励（1100万枚 ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 ）加上之前Lighter空头的良好口碑，应该是一个值得参与的项目。 体验工具、查阅具体策略细节可以去我的Github： 希望大家多多使用，提供意见。同时，也可以为需要独特方案的客户进行定制或者其他合作DM： 在使用工具的过程遇到任何问题，都欢迎随时DM。 Youtube视频（可能会更清楚一些）：

everyone's on max copium right now, but don't forget who Trump is, he extracted around $4b from the crypto market: $TRUMP: -97.7% $MELANIA: -99.3% $WLFI: -81.6% plus insider trades, like the $1b short opened on HL minutes before the 10.10