This is how the alt treasury company scheme works :

> Company ABC trades on Nasdaq at $10M mcap, with a share price of $10
> The company "raises" $100M from investors/VCs at its current $10 mkt price
> These investors hold almost all of the company as a consequence
> The company acquires $100M of an altcoin to become a treasury company (most scammy scenario is when the investors are the ones "selling" their locked tokens to the company)
> mNAV is close to 1x when this deal is done privately
> The deal is announced publicly
> Retail can start aping into the shares of this company
> The share price quickly goes from $10 to $30 because of the announcement
> All early investors are sitting in a risk-free entry at $10 (risk-free because it's almost backed 1-to-1 by the altcoin treasury)
> The next wave of retail starts buying at $30 minimum, ie 3x mNAV+
> 3 months later, the shares of the initial investors are unlocked, and the most mercenary ones will dump ruthlessly, and repeat the scheme with as many companies as possible

Some people have understood that it's a guaranteed-profit loop that they can rinse and repeat as long as the market still pumps the new altcoin treasury names.

There are a lot of opportunities in the crypto treasury plays but you must be aware of this dynamic going on against you if you are the retail that does not have access to the private deals. Also be aware that this scheme can be used to get rid of locked altcoins in some cases. I forgot to mention that since 90%+ of the shares are locked right after the public announcement, the stock is trading with a very low float, which drastically amplifies its ability to pump hard after the news

Full recap of the crypto narratives of 2024, month by month :

(1/n) January 2024 : ETF approval

- Jan 3 : huge liquidation event
- Jan 9 : fake ETF approval and ETHBTC pump
- Jan 10 : ETF approval
- ETHBTC and ETH beta coins pump : $ENS $ARB $LDO $MAV $ENS
- $SUI (last unpumped L1?)
- $RON
- $TAO
- Solana memecoins : $WIF $MYRO
- $PENDLE
- Pudgy Penguins

I have a ton of links to old educational threads about crypto trading, I might as well share them

Some stuff is outdated, but I still enjoy reading ancient wisdom

1/ Stuff to know :

https://x.com/fishxbt/status/1623083055643561984

Almost $300bn have to unlock in the coming years from all the altcoins launched in 2023 and 2024.

I have not derisked anything yet, but this is something you have to keep in mind, we won't go up forever. Actually I should stop looking at these numbers because they are fucking scary lmao

Let's try a funny exercise

My opinion + minimalist description of each of the largest coins :

1/n $BNB :

- One of the strongest tokens to hold during the bear market
- Probably safe-ish long (it is in the same range vs BTC as in April 2021)
- But not an interesting upside at this val (almost $100bn MC)
- I am neutral on it, not long not short

With a potential $ETH ETF approval, animal spirits could be coming back quickly into crypto markets.

Maybe it’s time to rewire your brain for a proper bull run alt season…

I bet you will love this thread about some of the insanity we saw in 2021 :

(1/n) 🧵 $DOGE went up close to 10x in a day in January 2021 while it was already a billion-dollar coin.

Full recap of the crypto narratives of 2023, month by month :

(1/n) January 2023 : post-bottom pump / echo bubble

- $SOL revival and $BONK pump
- LSD : $LDO $RPL $FXS $SWISE $FIS
- AI coins : $FET $ORAI $AGIX $OCEAN
- Metaverse : $GALA $SAND $MANA $AXS
- $APT giga-run from $3 to $20
- $OP and ecosystem : $VELO $LYRA $SNX
- Arbitrum coins : $MAGIC $DPX $VSTA $PREMIA
- NFTs and NFT Finance : $JPEG $BEND $X2Y2 $MAGIC
- Curve broad ecosystem : $CRV $CVX $FXS $AURA $BTRFLY
- ZK : $MINA $LRC $DUSK $SYS
- Perp DEX : $GNS $GMX $DYDX $PERP $DXP
- Some alt L1s : $FTM $AVAX $INJ
- New coins with price discovery : $APT $OP $CANTO

CT alpha of the week :

(1/n) Building positions in an uptrend guide :

https://twitter.com/ColdBloodShill/status/1729313234182684882

Let's take a look at a few long/short charts to identify trends and strength in the current market

The 1st one is the "winner altcoin basket" [ $SOL $INJ $RUNE $LINK] vs BTC :

During 3 weeks, these coins have been the leaders of this market, but now they have slowed down

(1/n) (2/n)

AI coins [ $RNDR $AGIX $FET $OCEAN] vs BTC :

Clear outperforming category.

1st push with OpenAI DevDay catalyst and 2nd push with OpenAI / Sam Altman drama ?
(Or prices simply dictate narratives...)

One of the BEST ways to increase your crypto trading profits is to journal your trades, feelings, wins, losses, and lessons.

I try to do a weekly summary of my trading activity.

Let's make public a few lessons that I wrote down this week :

(1/n) 1. Zoom out

Each time I start to reduce timeframes and end up with 1min or even 1sec charts, I'm tempted to start scalping extremely short term moves, like a casino ape.

And I usually fuck it up, taking random trades and doubling down in hope that the chart reverses.

$BTC is at $35K, alts are pumping across the board... what now ?

Here is a list of good recent tweets about positioning and crypto trading lessons : Bearish on alts vs BTC ?

https://twitter.com/HumaCapital/status/1719276476321669221

Compilation of crypto trading tweets to make the most of the current environment :

(1/n) High Stakes is long :

https://twitter.com/HighStakesCap/status/1717977062613356559

Tweets/threads about crypto trading I found interesting in the past few days : Great thread about bull market alpha by Intuitio :

https://twitter.com/IntuitioCapital/status/1661203465819901952

Compilation of the best GCR alpha nuggets : 1. During alt cycles, you should maximize risk at the the beginning, and slowly reduce it over time, but most people do the opposite.

Tweets/threads about crypto trading I found interesting in the past few days : Cyborg reminds us that we now have “the opportunity to accumulate coins on prices we prayed for in 2021/2022”.

https://twitter.com/cc_yborg/status/1648241080670859264

Important lessons on narratives and trading from the last 2 months in the crypto market :

🧵👇 1. The two first months of 2023 reminded us how it's like to trade in a "risk-on" environment.

Buying dips and longing breakouts is rewarded, and deploying into the right projects / narratives / ecosystem can bring you outsized returns.

Why I think the bottom is in and why I am buying $ETH :

🧵👇 After the summer 2022 pump, I expected a lower bottom because of "macro".

We ended up getting new lows in November "thanks" to FTX, and it had not much to do with macro.

Want to become a highly profitable trader in 2023 ?

Start with these lessons from the 4 best tweets/threads I read last week : Tree of Alpha's best and worst trades of 2022 :

https://twitter.com/Tree_of_Alpha/status/1609220472943804416

If you want to increase your profits tremendously as a crypto investor....

... it has become extremely important to master tokenomics.

Here are the best resources I ever found about tokenomics, served on a silver platter : 1/ @cobie wrote a great article on tokenomics, FDV and unlocks :

https://twitter.com/cobie/status/1474374167424294915

Spending all day randomly scrolling through Twitter isn't going to give you the most alpha.

You must reduce the noise and only consume the "α-concentrated" crypto information.

Here are the 5 best sources I use to follow the important news :

🧵👇 1/ "The Daily Degen" @thedailydegenhq is a daily free Substack covering the news in DeFi : biggest TVL movers, new protocols, hacks, stablecoin yields, etc.

It is managed by the great @rektdiomedes !

Here is the latest edition :

https://twitter.com/thedailydegenhq/status/1572936041086029825

Here are the 10 best threads I found about how to make it in crypto.

THREAD 👇 1/ How to make it in crypto as a normal person, by @punk6529 :

https://twitter.com/punk6529/status/1477259809493819393