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MONK

@defi_monk

Apr 4

1) MegaETH & GTE
Key takeaways from my latest Messari report

To beat CEXs, we need performant onchain CLOBs.

The problem is, onchain CLOBs on general purpose blockchains today are just not good enough.

@GTE_XYZ on MegaETH is planning to change this.

Let's explore 🧵👇:

2) MegaETH isn't just fast. It's orders of magnitude faster than any general purpose blockchain we've seen in crypto.

In testnet, we've already witnessed consistent 10ms block time.

3) This means MegaETH is already as fast as Web2 apps. Truly unprecedented levels of speed.

Read 10 tweets

MONK

@defi_monk

Feb 26

1) A Solana Memecoin Contagion
Key takeaways from my latest Messari report

There's been a lot of talk recently about whether memecoins are dead, and whether Solana is fucked as a result.

I'm here to give you the numbers.

A 🧵👇 quantifying Solana's memecoin exposure:

2) Following $LIBRA, memecoin volumes on Solana have contracted to new YTD lows.

FYI volumes are still above where they were in early 2024, and I'm not here to tell you memecoins are dead.

What I'm here to illustrate is just how much exposure the Solana economy has to memes.

3) Solana's economy is a volume driven machine.

If you look at the leading apps by revenue on Solana, it's essentially all protocols that facilitate trading activity in some way.

You can see this reflected in the strong correlation between daily DEX volumes and app revenues.

Read 16 tweets

MONK

@defi_monk

Feb 7

1) What's Next for Hyperliquid
Key takeaways from my latest Messari report

The market is still underpricing the implications of the upcoming opportunities for $HYPE.

In my third report on Hyperliquid, I preview the next leg up through the 3 most exciting catalysts:

🧵👇

2) Catalyst #1 - Expanding the Spot Market

We think it's a matter of time before spot $BTC comes to Hyperliquid's native order book.

In Jan, Hyperliquid's spot volumes represented just 3.3% of perps volumes, with the large majority of spot activity tied to $HYPE.

3) The value prop for using the spot market needs to change. Currently, you can only trade $HYPE and a handful of long tail native spot tokens.

In the near future (😉), we are hopeful that expansions will be made to the spot market to include majors like $BTC, $SOL, and $ETH.

Read 15 tweets

MONK

@defi_monk

Jan 15

1) Sizing the Crypto x AI Market
Key takeaways from my latest Messari report

I don't believe AI has topped.

@Degenerate_DeFi and I put together a few fractals to compare this meta to speculative metas of the past.

Why we think the Crypto x AI Market can run to $100B:

🧵👇

2) We've written reports in the past on the fundamentals of Crypto x AI (@bloomberg_seth and @0xSynthesis1).

This report focuses more on how crypto speculation often drives prices faster than the fundamentals can catch up.

First - why I think AI has the makings of a winner.

3) #1 - AI Agents have driven retail (or "degen") participation.

TAO is still the initial leader of the space, but it struggled to resonate with onchain participants given its complexity, limited user-facing touchpoints, and lack of a native token on Solana or Ethereum.

Read 14 tweets

MONK

@defi_monk

Dec 20, 2024

1) How Base DeFi Flips Solana DeFi in 2025
Key takeaways from my latest Messari report

For my last report of the year - I wanted to end with a hot take.

Base will flip Solana in DEX volumes and TVL in 2025.

Let me convince you:

🧵👇

2) Solana and Base were the fastest growing chains by DeFi metrics (volumes and TVL) in 2024.

Base has grown faster but at a lower starting point, and its DEX volumes and TVL are now both roughly 40% of Solana's.

We think there is a compelling case for a flippening.

3) I think Solana will do great in 2025. But for DeFi specifically, Base has a number of structural advantages.

Here are the five most important tailwinds that will propel Base to become THE chain for DeFi in 2025:

Read 20 tweets

MONK

@defi_monk

Nov 11, 2024

1) A Valuation of Hyperliquid
Key takeaways from my latest Messari report

My updated valuation outlook on the $HYPE token places it at a $13B FDV, with the potential to rerate higher than $30B in the right market conditions.

Let's dive in:

🧵👇

2) The end of incentives have done little to stop Hyperliquid's momentum.

We saw ATHs in market share in October, and OI has also hit an ATH at over $1.5B.

3) With TGE we'll also get the launch of the HyperEVM, with over 35+ teams planning to participate in the new eco.

This moves Hyperliquid closer to a general purpose L1 and away from an appchain.

Here's a market map I made:

Read 14 tweets

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