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Ram Ahluwalia CFA, Lumida Profile picture
@ramahluwalia
Feb 10, 2022 • 9 tweets • 12 min read • Read on X
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Everyone's favorite funding stat from 2021 is that 1 out of 5 VC dollars went to a #fintech.

What's MORE impressive?

Equity investments in #crypto companies grew 800% year over year - 4x faster than investments in fintech.

Some other notable stats - a 🧵 Image
2/x
There are now over 400 DeFi protocols on Ethereum alone, with an aggregate ~$124 Bn in TVL (Total Value Locked).

That's up from a mere $17.5 Bn at the start of 2021. Image
3/x
There are close to 3,000 Dapps running on Ethereum - including heavyweights like @opensea, @ensdomains , and @decentraland.

Combined, they processed ~219,000 transactions worth ~$280MM in the last 24 hours.

(H/T @StateOfTheDApps) Image
@opensea @ensdomains @decentraland @StateOfTheDApps 4/x

Follow the talent.

Developers are excited about the potential for building on blockchain.

There are >18,000 developers working in the Web3 ecosystem.

60% of those started working on #Web3 projects for the first time in 2021.

(H/T @ElectricCapital ) Image
@opensea @ensdomains @decentraland @StateOfTheDApps @ElectricCapital 5/x

The market cap of L1s and the TVL has dropped amid the broader market pull back in crypto & equities.

But the correction is already showing signs of reversing.
@opensea @ensdomains @decentraland @StateOfTheDApps @ElectricCapital 6/x

The main current drivers of user adoption?

NFTs & gaming.

Gaming is the #1 category for Ethereum Dapps, accounting for ~18% of apps.

NFTs account for 4% of Ethereum Dapps, but ~42% of transactions, driven by the popularity of #NFT marketplace OpenSea. Image
@opensea @ensdomains @decentraland @StateOfTheDApps @ElectricCapital 7/x

Wallets are a key access point to the crypto ecosystem & are becoming a battleground.

@MetaMask , the top wallet for Ethereum, has 21m+ MAUs.

Phantom, the most popular wallet for Solana, claims 2.1m users.
@opensea @ensdomains @decentraland @StateOfTheDApps @ElectricCapital @MetaMask 8/x

Fintech heavyweights @CashApp , @robinhood, and @PayPal are continuing to add crypto functionality.

The overlap of crypto/DeFi/Web3 and "TradFi" will continue to grow.
@opensea @ensdomains @decentraland @StateOfTheDApps @ElectricCapital @MetaMask @CashApp @robinhood @PayPal 9/9

What other interesting stats have you seen?

1. Quote retweet your thoughts on crypto stats

2. Follow me for more learnings in crypto, DeFi, and Web3

/ End Thread

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More from @ramahluwalia

Ram Ahluwalia CFA, Lumida Profile picture
Apr 15
TAIWAN, TRUMP, AND LEFT RISING TAIL RISK

Trump recently said he wouldn’t use military force if China invaded Taiwan.

He’d respond with tariffs.

But tariffs on Chinese goods are already at 145%.

If that’s the full response, China may see limited downside to acting.
2/ Deterrence depends on the threat of escalation.

If China believes that Trump will avoid military action and that tariffs are already in place.

The potential consequences of invading Taiwan look lower than before.
3/ This hinges on Trump’s public position: no military intervention, tariffs only.

If that’s what China expects from the current U.S. administration, it increases the risk of China testing boundaries.
Read 6 tweets
Ram Ahluwalia CFA, Lumida Profile picture
Apr 3
TARIFF POLICY: FAFO

There a many conflicting statements in the tariff policy.

It also means @SecScottBessent wasn't forceful enough with @howardlutnick.

None of this inspires market confidence, and at the very least we should expect, sadly, a heightened probability of a bear market.

A thread.Image
1/ Trump's stated goal is to bring back manufacturing to the United States via Tariffs.

However, he also states tariffs are 'reciprocal' and will drop if other countries drop theirs.

But, how does that bring back manufacturing then?
2/ @SecScottBessent wants to lower the 10-year. That's a great idea.

However, foreign investors buy bonds with American dollars they receive from exports.

Stop trade and you stop enabling foreigners to buy bonds.
Read 21 tweets
Ram Ahluwalia CFA, Lumida Profile picture
Mar 4
1/ COREWAVE S1 DROPPED

CoreWeave is backed by Blackstone, Magnetar and Nvidia

(@LumidaWealth has a poker chip is somewhere on the cap table too :)

First, revenue surged 800% in 2024... Image
Image
2/ Cost of Revenue as demand surges

Cost of Revenue relative to Revenue is 25% now and continues to decline Image
3/ There are 3 co-leads: JP Morgan, Morgan Stanley, and Goldman Sachs.

That's a rare sight.

CoreWeave is the first IPO out of the gate.

They signals confidence in the new issue.

Galaxy in there too. Image
Read 11 tweets
Ram Ahluwalia CFA, Lumida Profile picture
Jan 28
IT’s OVER > WE’RE SO BACK

We are back to 100% net long and bought $NVDA this morning

The Peak Sentiment events of last week are in the rear view mirror

I expect $MSFT and $META earnings to reiterate their capex spend on Nvidia

The forward PE on Nvidia will drop significantly after Nvidia reports

Thats the headline I am front running now

We have a typical relief bounce today

We also snapped up a number of names in the Datcenter theme that went on sale

This Monday we saw record margin debt combined with 3x levered long Nvidia and Semiconductors get wiped out

This was a margin call correction. A technical correction, not a fundamentals correction

That created a panic and a washout…

lumidaetf.comImage
The VCs and Podcasts are talking about DeepSeek 😂

Buy time :)

Check out this lil tweet from last Friday

the warning signals were everywhere

👇
Nvidia is discussed in detail at 55:30 mins here
Read 4 tweets
Ram Ahluwalia CFA, Lumida Profile picture
Aug 24, 2024
What happened after the Fed did ‘adjustment cuts’ in July 2019?

(after caving to market pressure)

Markets largely went parabolic in q4 and finished their rally at year-end with a 29% gain

I see a scenario like this as quite possible

Then in 2020, markets drifted steadily lower until Covid hit accelerating a bottoming process

Mr Market caused the Fed to Flinch
Seen this way, the Fed cuts pull forward 2025 returns

and we will get an IPO window to open
Someone took Bostic out back and ‘had a word’

If IPO market, GPT5 and ROI on AI continue things could get going

You may feel giddy by year end
Read 8 tweets
Ram Ahluwalia CFA, Lumida Profile picture
Aug 13, 2024
Investor Tip:

You have heard about Bulls vs Bears fighting.

That’s not what happens.

The truth is cold and dark.

*Bulls become bears, and bears become bulls*

That person in the foxhole next to you?

They can flip to the other team at anytime.

And, the more crowded your team is… well that’s the period of peak vulnerability.

The solitary individual on the other side, by definition, is selling a top, or like Buffett in October 2008 is buying a bottom.

You can only lose ground when you are fully priced and Consensus.

Another way to say all of this: you can’t under-estimate psychology.

‘Men, the enemy are in front of us, behind us, and to the left and right. They aren’t getting away from us this time’.

- Chesty Puller
2/ Have I told you my March 2009 story?

I was at an event in NYC.

Everyone by that point was a certified PHD macroeconomist, just like everyone became an expert at Covid and carry trades 😂
3/ I was also bearish and could tell you a crystal clear argument why.

It was obvious.

Then I realized everyone in the room was bearish.

That was the ‘a ha’ moment.

I switched teams.

Many memories like this stamped in my memory.

October 2011 is another one.
Read 12 tweets

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