MONITOR SOLANA

“We peaked out, you know, October, and we're now six months into this kind of bear market cycle. And we've been in this wealth destruction zone, going back. Really, this we we didn't have wealth destruction confirmed until really kind of earlier this year.”

“We've done a lot of work on, Bitcoin market structure, cost basis, you know, holdings, things like that across different cohorts to understand where we're at in that sort of top buyers rotating coins to sort of long term, you know, stronger hands. And that's, you know, we're we've seen some of that play out. This typically takes about a year to play out.”

“If all the money is in the market and the the sentiment is is still on the side of we're not going into a bear market, that's a pretty interesting indicator to tell you that everybody's deployed. Right? Everybody if if someone's saying that we're going higher, they're in the market. Right? They've already deployed.”

“Typically, the cycle starts at the beginning of 2023, so kind of at the after we saw almost a year long bear market that played out over 2022, eventually that flipped and we had bottomed. Then we went through wealth distribution. That's the part of the cycle where you want to be, you know, leaning a little bit more risk off, you know, looking to to build cash positions.”

“If you're already holding SOL, of course, you gotta know you should be staking it right now. You can earn up to 6.5% in variable staking rewards on your SOL with no platform commission fee through December 31 this year. It's powered by Galaxy Digital.”

“Cantor starts crypto firm with backing from Tether and SoftBank. As we dig into it, they’re gonna start with about 42,000 Bitcoins, so about $4 billion worth of Bitcoin. Already talking about raising convertible debt, going full micro-strategy. Jack Mollers, who is also the CEO of Strike, is going to be the CEO of this company.”

“What is interesting is how US centric Bitcoin is starting to become, right? So much of the Bitcoin mining is done in the US. So much of the institution, like the vast majority of the institution of Bitcoin, which is an increasingly growing part of the overall Bitcoin pie is held by US entities.”

“And then on the other side of the credibility is, can we bring in substantial amounts of capital? This is a masterful play and obviously, they're much smaller than MicroStrategy. But this is the most single credible play and I think what is really interesting is that this might cause premium compression for the entire space, right?”

“I think this definitely legitimizes Bitcoin further as a treasury asset for a lot of these major public companies. So I think that we've been seeing it move this direction for a while now. I think there was kind of questions around what corporate accumulation would actually look like, but now I think that this is actually something that's going to set a pretty high floor on Bitcoin.”

“So there's two things I want to point out and then move on to a bit more macro and where this does fit in context. First is that this company's sole strategy is raises 500 million in convertible notes issuance to buy Solana tokens. Just putting it on your radar, there's another company actually in Canada that's doing this with Ethereum.”

“Silicon Valley based venture firms, Electric Capital and Goldman Sachs were the two largest buyers of Solana ETFs. Drew, let me just say that one more time. The second largest buyer of Solana ETFs, Goldman Sachs and Q4. What do you think about that? Now just launched in October.”

“He noted that 50% of the ETF assets held by these 13F firms, making a more serious investor base. So half of all the Solana ETF flows are held by these 13F filing firms, meaning entities with more than $100 million. This is smart money accumulating Solana.”

“Now there is a warning, Drew. This is a bear flag. Technically, Drew, this is a bearish, slightly bearish chart here. This is, you know, 100% a rising wedge. And rising wedges, you know, they are bearish. But you could say it is almost a parallel range because this rising wedge is going into the year 2028.”

“The DeFi plays that I tested the waters on is not doing well, though, like they're mechanically useful DeFi applications within Solana, but the Solana DeFi value of these tokens is what's kind of been shocking, like Gito, Marinade, Camino. They all have gotten absolutely slaughtered over the last few months here.”

“Bitcoin showing some interesting signs of pumpiness right now. Kind of came in and alerting over $70K. Now, it's been a hectic market open here. So I definitely do acknowledge that. But there's a lot of volatility on. It's kind of a trader's best friend in this market. And I kind of joked about us pumping off of the conflict news.”

“Silicon Valley based venture firms, Electric Capital and Goldman Sachs were the two largest buyers of Solana ETFs. Drew, let me just say that one more time. The second largest buyer of Solana ETFs, Goldman Sachs and Q4. What do you think about that? Now just launched in October.”

“He noted that 50% of the ETF assets held by these 13F firms, making a more serious investor base. So half of all the Solana ETF flows are held by these 13F filing firms, meaning entities with more than $100 million. This is smart money accumulating Solana.”

“Now there is a warning, Drew. This is a bear flag. Technically, Drew, this is a bearish, slightly bearish chart here. This is, you know, 100% a rising wedge. And rising wedges, you know, they are bearish. But you could say it is almost a parallel range because this rising wedge is going into the year 2028.”

“The DeFi plays that I tested the waters on is not doing well, though, like they're mechanically useful DeFi applications within Solana, but the Solana DeFi value of these tokens is what's kind of been shocking, like Gito, Marinade, Camino. They all have gotten absolutely slaughtered over the last few months here.”

“Bitcoin showing some interesting signs of pumpiness right now. Kind of came in and alerting over $70K. Now, it's been a hectic market open here. So I definitely do acknowledge that. But there's a lot of volatility on. It's kind of a trader's best friend in this market. And I kind of joked about us pumping off of the conflict news.”