alpha_pls

I have no idea what this is.

I've just seen a load of tweets, so am sharing to secure this hypothetical stimmy from @moonberg_ai (gg on the distribution strategy).

The never ending gift and curse of living on CT.

3 new apps to try this week 👇

• Real yield on Hyperliquid (only a few invite codes in the article)
• Tokenized time (I launched on @timedotfun)
• Solana-native debit card w/ points

All are pre-token. All have upside.

https://www.alphaplease.com/p/3-alpha-apps-real-yield-on-hyperliquid

$HYPE Bull Case TLDR:

• PMF - Faster than CEXs, cheaper than DEXs, CEX-grade liquidity, top-tier UX, composability by design, and the fastest listing engine fuelling rapid growth.

• S-tier Tokenomics - 97% of protocol revenue is used to buy back $HYPE; listing/trading fees burn $HYPE. No VC unlocks. Protocol and users perfectly aligned.

• HyperEVM seeing huge inflows - already top-10 in TVL with zero incentives (perceived HYPE airdrop helps, but growth is real).

• Permissionless Infra - HIPs and Builder Codes let anyone list tokens or deploy perps, earn fees, and tap Hyperliquid’s deep liquidity - no market makers, infra, or gatekeepers required.

• Real multi-asset future - HL isn’t stopping at crypto. Equities, ETFs, Forex, commodities, and bonds are on the roadmap.

• Spot Trading Has Room to 10x+ – Spot/perps ratio is just 1% vs. 15–30% on CEXs; massive upside ahead.

• Attractive Valuation – $38 token price, $780M annualized revenue, $12.8B market cap → P/E ≈ 16.4x - cheap given the growth rate and massive future potential.

$HYPE is the clearest bet on actual usage, actual revenue, and actual value capture in crypto right now.

$COIN was another crypto stock that I saw many on CT saying was dead a few months ago.

Incredible monthly chart here.

Alt szn taking place with the crypto stocks and most of CT are sidelined.

Poetic.

The speculative premiums many crypto projects enjoyed is a thing of the past.

The market is distinguishing between good protocols with bad tokens (no value capture, high inflation) and good protocols with good tokens (value capture, low inflation), as it should.

Our collective understanding of tokens, valuations and value capture has improved because we have more data having seen so many tokens trend to zero.

The bar is much higher now than in the past. Even more so when you consider that we have crypto stocks that big money can easily ape in to, and they are doing well.

We are also trending towards more transparency (e.g Blockworks Token Transparency Framework), so teams won't be able to hide how bad their tokenomics really are going forward.

No alt szn will bail out bad tokens. Risk on szns will amplify good tokens more.

Ands there are no new retail flows to bid tokens that don't make sense, like the past. Yes, we are retail, but we are just a hot ball of PvP money.

There is no exit liquidity for vapour.

The most biddable alt coin we have in the whole market.

One of the only alt charts that hasn't been totally destroyed, and looks ok against BTC.

Hyperliquid has everything going for it (PMF, revenue, growth) and alignment between the protocol and token holders.

$HYPE

$458M raised in total from a lot of the big boy VCs.

$942 chain revenue in the last 24 hours.

Many such cases.

CRCL is $230 in pre-market.

>holds large chunk of net worth in USDC
>uses USDC every day
>bullish on stablecoins
>keeps asking how to get exposure
>doesn’t buy CRCL at IPO

I spent some time on @ethos_network today and noticed they added projects that users could vote on as bullish or bearish.

The contrast between @megaeth_labs & @monad_xyz is very interesting.

I would have said a year ago that Monad was doing a good job of creating a community without a product, and the hype was huge.

But MegaETH's community & builder alignment has been much stronger through the ICO NFT sale and MegaMafia model.

Ethos is aiming to be the reputation and credibility platform for crypto, so it does feel like a somewhat relevant data point for assessing how these chains might do when they are live, or at least how the crypto community currently think they will do when live.

Fwiw I am more bullish MegaETH, and probably neutral/bearish on Monad (more because I haven't followed them closely, but that says something in itself).

3 new apps for you to try this week (all pre-token):

• Let an AI agent buy Bitcoin for you ( @MagicNewton )
• Another Hyperliquid app to maximize your HyperEVM exposure
• Earn fixed yield on Solana

Full breakdown in my latest newsletter:

https://www.alphaplease.com/p/3-alpha-apps-buying-bitcoin-with

Finding it impossible to be bearish on crypto (yes, short term Summer chop probably, but zoom out).

A few thoughts:

The U.S. Senate just passed the GENIUS Act, the first comprehensive federal legislation for fiat-backed stablecoins.

Stablecoins already power the largest real-world use case in crypto:

• $250B+ live onchain
• Instant global settlement
• < $0.01 tx fees
• Open API for money

Now, it gets a legal foundation to go global. It's huge and not to be faded.

This lays the groundwork for trillions in stablecoin settlement volume. It's huge for DeFi.

Every bank, fintech, and payments processor now has a regulated, programmable digital dollar they can actually use.

The biggest bottleneck was legal clarity, which is now gone.

But stablecoins aren’t just for payments. They’re the gateway to speculation, as all the degens on here are aware.

They’re the liquidity base layer of the entire crypto economy.

At the same time, regulators are quietly easing capital rules for U.S. banks.

That frees up bank balance sheets.

More capital = more lending
More lending = lower rates
Lower rates = more risk appetite
More liquidity = stronger BTC tailwinds

BTC thrives when liquidity expands and stablecoins amplify that liquidity. TradFi + Crypto are now structurally aligned for it.

So in summary we have:

• Stablecoins getting federal clarity (DeFi to benefit)
• Banks regaining liquidity
• Borrowing costs likely heading lower
• BTC acting like a macro hedge with clear investor demand (I haven't even mentioned the BTC company treasury ponzi bubble that is growing)

Being bearish here requires me to fade regulatory clarity, institutional momentum, and macro tailwinds.

Find the right coins, have a little patience, and enjoy your Summer.

Haven't farmed an ecosystem this actively since Solana 2023.

That was extremely profitable for me.

All the metrics point towards the HyperEVM being in a similar adoption spot ~10k active users.

Run it back turbo.

Hyperliquid.

One of the things that alt coins lack is passive flows.

They are all PvP coins, even more so with the lack of retail participation in crypto currently.

Once price momentum is gone the floor tends to be a long way down, and then the price never gets close to the highs again.

$HYPE is different.

It has a self generated structured bid, which actually increases in times of volatility.

Hyperliquid has a unique set of properties that I haven't seen in my time in crypto.

It's not without risk of course, which is mostly tied to security and potential exploits, and maybe regulatory problems later down the line.

But, this combination of PMF, revenue, growth potential (perps still has an enormous market to go after, and is one of the biggest crypto use cases) and token value accrual through buybacks & burned txn fees is one of a kind currently.

And this is ignoring the HyperEVM which is gaining momentum, and adds even more growth potential, and further helps to differentiate it from competitors.

It's still going to be a volatile ride, but you can sleep well knowing the assistance fund is on your side.

Hyperliquid.

Buy stuff you think will be higher eoy.

Don’t overthink it. Don’t doom scroll.

Gut feeling is that BTC would be down a lot more if the market was really concerned about a long lasting conflict (ground war).

Leverage apes get carried out as usual.

One of the issues with being early to crypto is that you bear all of the mental scars from witnessing the boom/busts, major hacks, insane collapses (Mt Gox/Luna/FTX), vicious bear markets and endless failed projects.

All of that misery was necessary pain for this industry and asset class.

You are still early (yes, sounds like a meme), but it is true. It's much easier to play to the cynical crowd on here and call everything a scam, then say you are actually still early.

DeFi is only just getting its chance to actually grow after years of corrupt regulatory policy.

I suspect that in 20 years most of you who were present on CT today (probably me included) will regret the lack of exposure we had to what will be obvious in hindsight:

All of the world's value moving onchain.

Selling the world's best assets is always a mistake, the Mag7 illustrates this well. Especially as fiat will continue to be devalued at a faster and faster pace.

Nothing wrong with taking some profit to level up your life in the short term and securing financial freedom if you can, but staying long on the blue chip assets in this industry is how you will build long lasting wealth.

Just got to figure out the blue chip assets...

Another week, here's three more apps I think you should check out:

• One of the best credit cards in DeFi
• HyperEVM app you should be farming
• InfoFi project w/ reward system live

https://www.alphaplease.com/p/3-alpha-apps-the-best-defi-credit

Can you feel the winds of change?

I don't think I've ever been more bullish on DeFi.

DeFi looks to have very few barriers going forward now. The SEC's recent remarks rejects the enforcement-first approach of prior years.

The SEC also acknowledges DeFi protocols’ resilience during crises vs. centralized platforms. This implicitly supports the thesis that DeFi is not just viable but superior in some cases.

Strong support for self-custody reaffirms everyone's right to hold and use crypto without intermediaries. This is also huge for the growth of DeFi.

The proposed “innovation exemption” could serve as a legal sandbox or safe harbor for developers and projects, which will finally encourage U.S.-based DeFi operations.

The door is open for trillions to come onchain in the coming years.

We have many blue chip DeFi protocols that are robust and mature, and ready for prime time now that we have the support of US regulators, and the rest of the world will follow.

One day people are going to look back and realize that they fumbled the opportunity to invest and hold the financial institutions of the future at very small valuations.

It's still early.

$HYPE has raised the bar for the alt coin market.

You have an in demand product with PMF and growing revenue, minimal inflation and a protocol where all of the success is directly translated to the token with buybacks.

Token holders are first class citizens.

This is good for the wider crypto market and will likely act as a sort of benchmark for investors going forward.

This is what a blue chip token looks like - the protocol and token holders are completely aligned.

The market now has HYPE as a best in class example. Only tokens with genuine growing fundamentals and strong tokenomics (meaningful buybacks) will find a bid (outside of the the PVP gambling trench shit coins of course).

Examine what you hold carefully.

$CRCL chart is a literal rocket ship.

Crypto stocks are the real alt coins.

Life is short, go long to hedge.