Post

More from @defi_monk

MONK

@defi_monk

Jun 13

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

I built a model for $PUMP which places the token at a $7B FDV. But there's one big caveat.

Here's how we did it 🧵👇:

2) Say what you want about memecoins but the sector has continued to print money.

Volumes on the launchpad are down from the start of the year but remains far higher than where it was for most of 2024. pump.fun

3) People are probably also underestimating how successful PumpSwap has been. Launched just ~3 months ago, the DEX has already taken a chunk out of Raydium's dominance on Solana.

Read 9 tweets

MONK

@defi_monk

May 23

1) Alt CLOBs are the new Alt L1s.

CEX order books have dominated crypto volumes, while AMMs provided a good enough onchain solution.

With Hyperliquid's success, this has changed.

Introducing the players participating on team DEX to bring order books onchain. Thread below:

2) The lack of onchain CLOBs in the pre-Hyperliquid era was a symptom of less performant blockchains.

High latency and transaction costs essentially ruled out market maker participation. Or caused them to widen spreads dramatically.

3) This is changing post-Hyperliquid.

New CLOBs like @bulletxyz_ and @Lighter_xyz are built on dedicated blockspace to maximize performance.

MegaETH is bringing never-before-seen general purpose speed.

Solana is adding cancel prioritization through app-specific sequencing.

Read 6 tweets

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

Share this page!

Enter URL or ID to Unroll

MONK

Try unrolling a thread yourself!

More from @defi_monk

MONK

MONK

MONK

MONK

MONK

MONK

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?

Send Email!