Market panic is becoming apparent with crypto participants being increasingly frustrated and disillusioned with the asset class's underperformance in comparison to equities and precious metals.

This image makes an ugly look and is what is making the bear market feel worse, even if the price action (besides 10/10) has been more forgiving in comparison to prior bear markets so far. Comparison tends to be the thief of joy but it’s also the amplifier of pain.

Market Pulse

The BTC ETF flow has turned negative, with it experiencing $1.36B in outflows over the past week, as risk appetite has decreased. BTC will find a reason to pump when it is time, right now the only focus is on Saylor buys, and STRC isn’t really a great position and “narrative” to be in.

Stablecoins

Despite it being a proclaimed crypto bear market, the stablecoin growth is showing no signs of slowing down in the foreseeable future, as we are making all-time highs of capital entering the ecosystem while sentiment is in the gutter. USD1, USDe, and USDS have benefited the most from the stableflow supply increase.

Stablecoin settlement continues to rotate between chains, with Base being the dominant settlement layer last week getting overtaken by Ethereum:

• Ethereum: $456.2B

• Base: $237.3B

• Tron: $160.6B

• Solana: $106.5B

Commercial crypto will likely continue to benefit from the growth of stablecoins and capture the lion’s share of the growth going forward. If you’re not familiar with the concept of commercial crypto, I highly suggest you read this article:

The biggest dislocation is that adoption and stablecoins growth increasing does not mean that alt risk increases as a result.

Base Token

One of the most interesting events of the week has been rumours that the BASE token is closer than people expect. This is likely not more true than it was a week ago alhtough with this in mind, it’s a reminder to ramp up your trading on Base if you haven’t been actively trading on the ecosystem so far, as it is likely to become one of the most valuable airdrops that will take place for a while.

MNT is the most valuable L2 token and has a valuation of $2B (4B FDV) and is the closest comparison you can make to Base, although it is arguably valued as an exchange as well.

Base dwarfs every other L2 in regards to TVL and chain activity, and beyond Ethereum, BSC, Solana, and Tron, it is the most valuable ecosystem with the highest TVL.

I view Hyperliquid as an app instead of a chain in this discussion, as HyperEVM isn’t comparable yet.

While you can’t compare its valuation directly to Solana because SOL is a gas token, it is its closest competitor with a $50B valuation. Nonetheless, expect Base to be an airdrop you want to make sure you have done enough volume to receive large amounts of.

It’s an ecosystem that remains contentious because of the team but has provided immense opportunity for open on-chain participants, particularly surrounding “utility tokens”.

Base MCP

Speaking of Base, they have recently launched their own MCP to make it easier to acces the ecosystem through agents.

There are two main takeaways from this.

One, the Base agent protocols that rely on being an agent that facilitates or uses the MCP are now redundant.

Secondly, the MCP should make it easier to trade on Base through an agent, and the protocols that stand to benefit from this integration are Morpho, Moonwell, Aerodrome, and Virtuals. With agents being able to check balances, send funds, swap tokens, sign messages, and pay with x402.

Although none of this will matter unless we start to see real usage, which is worth tracking.

Hyperliquid takes on Polymarket

Hyperliquid is staying true to their mantra of being the “House of Finance” by launching HIP-4 off-chain event contracts for outcomes (prediction markets).

At the same time, Polymarket got banned in Indonesia for being classified as online gambling.

The compelling opportunity with this is that if Hyperliquid can build a viable prediction market and solve how pricing is handled, which has remained an issue on Polymarket, it is another great opportunity for them, not really priced into their growth story yet, considering how much both Polymarket and Kalshi have raised.

In addition, considering the U.S. HYPE ETF launched on May 11th 2026 and has partially been the reason for its meteoric price rise reaching new all-time highs, the momentum is on the protocol side, which recently flipped Coinbase in valuation as well. A win for DeFi, to say the least.

What’s worth watching concerning Hyperliquid is the Iran war potentially coming to an end, which could lead to volatility might compressing as a result, which is what the protocol thrives on.

Nonetheless, in the event of an actual pullback, ETF flows have been understated, and it likely doesn’t go as low as people want.

DEX Activity

DEX activity has increased across Solana, Base, and HyperEVM, with Solana’s volume increasing by 18.8% in comparison to the last week, Base with a 24.5%, Ethereum with 16.6%, and the most astonishing is actually the HyperEVM, doing meaningful numbers, seeing a 61.2% increase. Worth emphasizing that it is the underlying EVM ecosystem on Hyperliquid and not the Perp exchange that these numbers are attributed to.

However, the uncomfortable truth is that beyond a few bounces, DEX volumes have been on a continuous downtrend throughout the year as holders are getting more rewarded than traders. And the active trading cohort has either moved over to perps or prediction markets.

Trades

There are no clear trades to force right now, as risk appetite is questionable as it currently stands. It’s probably a better time to be defensive than to be too aggressive with your capital. Although there are protocols like Maple that are seeing metrics that are going up and to the right, the price action isn’t reflecting it yet.

However, the most arduous Ethereum bulls finally capitulating is worth keeping an eye on, although he makes a lot of decent points.

Nock is rising in attention

Nockchain is a Proof-of-Work blockchain that tries to make mining “useful” by having miners generate zero-knowledge proofs of computation instead of wasting energy on arbitrary hash puzzles.

It wants to become a base-layer market for verifiable computation, potentially extending into AI inference, matrix multiplication, compliance proofs, private finance, identity, and other workloads.

Don’t chase this as it has been up a lot over the past days, but I highly suggest adding it to your watchlist for any eventual pullbacks, as the demand for compute continues to increase.

World Cup coming up

With the World Cup coming up, it is worth keeping tabs on Sports.fun. This is the protocol likely to see the highest benefit from it. It’s already a profitable protocol, while there still remains a question of how the token connects to the success of the platform.

However, waiting for confirmation is a costly practice, so I’ll leave this here.

That’s it for this week.

If this helped sharpen your positioning, share it with someone who’s still trying to force trades in a market that isn’t paying for aggression.

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I hope you enjoyed the post. Don’t forget that you are more than welcome to leave feedback or drop any questions in the comment section.

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• All previous articles, and being able to request deep dives of what you want covered

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Crypto markets have historically rewarded speculation over fundamentals, but the next phase is becoming increasingly interesting because real on-chain infrastructure is maturing as AI accelerates automation and productivity.

This, at the same time, as AI CapEx is expected to reach $200B in the next year, while prices in the crypto industry remain suppressed and relatively overlooked from a market standpoint, you realize that there is an incredible opportunity available right now for anyone willing to put the work in.

Open source AI is undervalued if this becomes the reality of the megacorporations and the AI productivity boom.

The infamous crypto thesis used to be as simple as buying before the institutions arrive. Well, they are here, and as they just arrived, the industry is being called dead when it is likely to be injected with trillions in stablecoins entering the system over the coming years.

We have witnessed stablecoins becoming real settlement infrastructure, tokenized treasuries and money-market funds becoming tangible products, and looking less like experiments.

AI is creating another demand curve centered around agents needing access to data by paying for APIs, renting compute, coordinating with other agents, and settling value without a human needing to approve every micro-action. While crypto doesn’t necessarily have to own that layer, it has the right foundations to accelerate it and be a critical part of its scaling.

There is genuine interest in adopting the backend infrastructure that the industry has built so far. This has been mainly attributed to the financial rails, but will increasingly touch open-source AI (aka deAI) in the coming months and years as well. Here are a few examples of integrations we have seen materialized:

• Visa is actively using stablecoin settlement and is seeing record growth

• Stripe’s reported $1.1B acquisition of Bridge as stablecoin infrastructure

• BlackRock and Franklin tokenized fund activity

• AWS and Cloudflare are adding agent-payment support around x402

What you will see is the right infrastructure continue to be built and demonstrate demand for the next phase of crypto by providing actual value. We have seen some initial signs of this, and as a response, you will increasingly see liquid tokens become early public proxies for those businesses.

Multiples

There is an opportunity to shift your mindset during a bear market and realize that on-chain organizations are emerging, giving you the chance to be an Angel investor at a ridiculously cheap valuation. However, the reality is also that most of the protocols won’t even get any kind of momentum and frankly die before they even can get started. Which is why betting on a competent team rather than an amazing idea is the way you want to do it.

If they can prove that they can generate demand at a small scale that is sustainable with persistence, it can be scaled to incredible levels with the right decision. Finding PMF is among the hardest tasks in crypto in a world full of vapor. The few that find PMF subject to the Pareto principle tend to deliver >10x returns for their fellow investors.

However, let me make this very clear. Most people are better off not chasing 10x - 100x returns because it requires incredible risk tolerance and willingness to round-trip large sums of money, and being willing to see investments frankly go to zero.

The more “sustainable” approach is to aim for compounding at 3-5x multiples and be happy with your wins. This sounds boring in crypto, even if it is still a very good multiple. I’m being frank and saying this because I know people will want the first option anyway, which requires higher risk, but the second option will be featured in the latter part of the article as well.

Now, it’s off my chest, and we can proceed accordingly.

Underrated On-chain Tokens

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Most crypto investors do not lose because they lack information.

They lose because they find the right information after it has already become consensus on social media.

By the time the trade is obvious, the easy multiple is usually gone. CT is euphoric, liquidity is rotating in, everyone has the same PnL screenshot, and the “alpha” has turned into exit liquidity, with people convincing you that “you’re still early”.

The goal is to find the moment where fundamentals are improving before price and attention fully catch up. Especially in slow markets like these, where you tend to get afforded the time to position accordingly.

That is the research system I’m rebuilding “The Aspiring Degen” around (still contemplating a name change, but that’s not the most important point right now).

The problem with most crypto research

Most crypto research is too late.

It tells you:

• What already pumped

• What the current “narrative” is

• What everyone is talking about

• Which chart looks obvious after the move (“chart looks good”)

• Why a token is “undervalued” using metrics nobody actually pays for.

It’s simply post-rationalized momentum commentary that loses most people money.

The useful question is different:

What is getting better before the market has fully priced it?

That question forces you to look for divergence.

The four-part framework

The best setups usually have four ingredients.

1. Fundamentals improving

Something real is getting better.

Not vibes. Not Discord energy. Not “team is cooking.”

Actual signals:

• Revenue

• Fees

• Volume

• Usage

• Retention

• Liquidity

• Distribution

• Integrations (meaningful ones, not NVIDIA accelerator)

• Protocol value capture

• Customer demand

• Developer activity

• Capital efficiency

The metric depends on the sector. A DeFi protocol, DePIN network, AI marketplace, stablecoin rail, and on-chain game should not be judged by the same KPI.

But there has to be a KPI.

Without a measurable improvement, you are probably buying a story.

2. Price lagging

Improving fundamentals are not enough.

If the token has already repriced aggressively, the opportunity may be gone or at least far less asymmetric.

The question is:

Has the market actually capitalized for the improvement yet?

Sometimes the answer is no because:

• The sector is hated.

• The token is boring.

• The catalyst is technical, and the narrative has not been simplified yet.

• Liquidity is still thin, preventing people from buying meaningful amounts.

• Attention is elsewhere

• Investors are anchored to a prior version of the project.

That is where the opportunity tends to live.

3. Attention not crowded

Crypto is reflexive.

Attention can create liquidity, liquidity can create price, price can create more attention, and then everyone pretends they were early.

The trick is to enter before the trade becomes a personality test on the timeline.

Signals that attention is getting crowded:

• Same chart everywhere

• Same three influencers (or groups) posting the same thesis

• Sudden “institutional interest” threads

• No one is discussing risk anymore.

• Every dip is described as “generational.”

Crowding doesn’t mean that you can’t make money on it. In fact, that’s when the most aggressive moves tend to take place. Nonetheless, it does change the risk/reward of the trade if you aren’t careful.

4. Clear invalidation

A thesis without invalidation leads to coping faster than you can imagine.

Before adding something to your portfolio, you would want to know:

• What data would prove this wrong?

• What catalyst failure matters?

• What metric needs to keep improving?

• What would turn this from early into fake?

• What would make me delete it from the watchlist?

The best setups have clear upside AND downside. At some point, you have to be willing to walk away to avoid the risk of ruin. It’s fine being wrong, it’s not fine being wrong and being financially ruined in the process because you kept adding on the way down.

Structure Change

Going forward, paid research will be organized around three buckets.

Actionable Now

These are themes/protocols for which there is sufficient evidence to warrant immediate attention.

They aren’t guaranteed trades, as nothing is in the business we operate in.

But they have or are showing signs of:

• Improving fundamentals;

• Identifiable catalyst or timing;

• Manageable attention/crowding;

• Some form of value-capture or expected value-capture

• Clear invalidation.

Building

These are interesting but incomplete.

Maybe the sector is right, but the token capture is unclear. Maybe usage is improving, but the price has already moved. Maybe the catalyst is interesting, but the trade is too crowded.

Worth adding to your watchlist, but don’t force a trade, as you tend to get a chance to buy things when they quiet down, as capital is cyclical.

Rejected / Noise

This may become the most important bucket.

Crypto wastes insane amounts of attention on things that sound investable but do not capture value.

Rejected does not mean “bad project.” However, it does imply that there is “bad risk/reward or a bad setup at the time.”

Sometimes the best alpha is not touching the thing everyone is talking about.

What The Aspiring Degen is becoming

The publication is shifting away from generic weekly commentary and toward a tighter research product.

Free readers will get the Opportunity Pulse:

• The market regime.

• What mattered

• What may be mispriced?

• At least one public watch item.

  • This would be an example of me mentioning that Ethena has seen an $800M TVL increase as demand for structured dollar products potentially increases, with Clarity likely to pass. Although the protocol is facing compressed revenues and fees due to the yield compression and questions concerning collateral quality.
    
    It’s been tough for the protocol since late October, but things might be changing for the better, while the price seems to have found a floor and continues to range. The problem remains to be the unlocks that hit the market towards the end of June, though.

Think of it as shorter, more concise, and valuable.

Paid readers will get the Research Layer:

• Weekly Watchlists, and what is worth keeping tabs on right now.

• Deep Research around potential setups

• Invalidation criteria

• Rejected/noise logs

• Continous Q/A Access + Market Thoughts

• Monthly flagship thesis reports.

Less standard recaps. More filtering and cutthroat synthesized analysis.

Less “here’s what happened.” More “here’s what changed and why it might matter.”

Final Words

The crypto industry rewards being early to the information that actually changes positioning.

That is the entire game.

Fundamentals improving + price lagging + attention not crowded + clear invalidation.

That is the Degen Research OS.

And that is what The Aspiring Degen is being rebuilt around.

Paid subscribers will get the first new watchlist: what is Actionable Now, what is still Building, and what I’m rejecting as noise.

Get the research layer.

Get The Research Layer

I hope you enjoyed the post. Don’t forget that you are more than welcome to leave feedback or drop any questions in the comment section.

By upgrading, you get access to:

• Institutional-level weekly reports of protocols and crypto-related equities

• All previous articles, and being able to request deep dives of what you want covered

• Direct Q&A Access at all times

  Subscribe now

• Earn free subscription months when you refer a friend who subscribes.

• Bypass the complexities of crypto tax calculations effortlessly with the best-in-class tax calculator app – quick, precise, and at your fingertips here.

• Disclaimer: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing on the site constitutes professional and/or financial advice, nor does any information on the site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. I am just sharing my opinion. This post may contain affiliate links.

Becoming a category-defining market leader is one of the most challenging and rewarding achievements for a protocol to accomplish in crypto. However, when that category is a low revenue producing sector, amplifying the product suite to juice the fees generated is something that the majority of teams tend to do too frequently and forget their core ethos.

It continues to be a testament to the fact that ideas can be great but ultimately it is the team that you are investing in that you know will deliver that matters.

Today, we are going to dive into one of the protocols that has achieved the first feat and are accomplishing the second by building a full-fledged product flywheel that ties its products together into a cohesive flywheel.

Key Background

Ether.fi’s first phase was the protocol winning the liquid restaking market when it became the default wrapper for users that wanted staked yield + EigenLayer linked upside without relinquishing too much liquidity. The rapid TVL surge and preparing for being at the right place at the right time established Ether.fi as the leading LRT protocol while others faltered for different reasons.

They have been unlucky in that restaking didn’t become as popular as many in Ethereum expected considering how much resources have been allocated into this market sector, it was frankly a letdown though Ether.fi made best out of the situation which has worked out okay for them.

The team realized this and entered an inflection point where they realized that they couldn’t stop at restaking if they wanted to scale and kept building products to expand its product line but ensured it all stayed in the loop with what they were building which is a mistake pivoting protocols often make otherwise as they don’t tie everything together.

How has Ether.fi done that then?

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The market has been pumping going into the CLARITY ACT, and BTC has hovered above 80K for the first time in a while, causing aggressive moves across alts as well. We are now reaching a dicey level as the risk of CLARITY being a sell-the-news event is causing uncertainty.

One thing is sure: it is beneficial in the long-term, even if it might have been frontloaded for the time being, and once again, being an optimist will pay off in the future if you decide to capitalize on any eventual pullbacks we might be provided during the summer.

Over the past weeks, the market has shown interest in the top of the quality stack while leaving the lower shelves (garbage alts) untouched. Asset selection and holding good assets will be ever more important, as some tokens may enter megatrends after long consolidations once things settle over the course of the year.

Market Digest

Circle raises $222M for their ARC token that will power their upcoming chain. Investors included BlackRock and Apollo (BlackRock is an investor in Circle as well and is incentivized to see it do well).

This caused a lot of questions regarding why one would buy or invest in ARC over the CRCL stock, and it awakened the ever-present token<>equity discussion again. And while it is very contentious for crypto-natives that have been on the wrong side of that equation continuously, it remains an attractive proposition for companies that can double-dip and raise more capital in order to boost their balance sheet as well.

Coinbase might wonder why they didn’t attempt to raise capital for the incoming BASE token, but that is a question for Plato.

It’s no secret that I have been a proponent of CRCL for a while now, and the market reacted positively after this.

JP Morgan and BlackRock to launch money market funds

Ethereum continues to be used as the prime tokenization layer, while the users are disillusioned due to the prime action. The benefit of the GENIUS Act and now potentially the CLARITY Act eventually passing will lead to increased tokenization-based activity on the chain.

For passive products, security and reliability are more important than speed. Especially for the ancient banking sector that moves more slowly than snails and is fine with not instant block time.

The irony with these products is that they are a direct workaround for the stablecoin compromise in CLARITY that only allows activity-based rewards for stablecoins. These money market funds solve that problem, and in the future, you can expect stablecoins to scale to trillions as they are what will be deposited into these financial vehicles.

Inference is where it’s at

The on-chain AI products are much better than the slop fest we were served during the mania in 2024, even if they went much higher. The market has shown an appetite for being willing to heavily invest in inference, as we are seeing with the moves related to Akash Network and VVV.

Expect inference to be productized more on-chain as they enable speculative vehicles to be developed if you want to trade the demand or saturation of inference through the form of yield trading (Pendle could do this). If AI isn’t a bubble that most people assume it to be, the second-order and downstream effects will be the on-chain economy building around it.

DEX Volumes

On-chain has ignited over the past week, which can be seen in the chart with on-chain volume bouncing significantly for the first time on a week-by-week basis. These short windows can be extremely fruitful even if they don’t happen on a frequent basis, which is what makes it worthwhile to not check out 100% and have dry powder ready whenever activity is starting to rise.

Base and Solana, in particular, have been the winners as they continue to capture the speculative capital.

NFT Trading

The top NFTs seem to have found a floor to stop the slow bleed over the week and are looking healthier in case they are going to leg up again. NFTs trade in aggressive boom-bust cycles that don’t directly correlate with on-chain or majors, as it is a completely different type of holder base. BAYC holding a 10 ETH floor is worth monitoring.

Net Inflows

With CLARITY being the main interest for the crypto market the only large-cap that has gotten significant bid outside of ETH has been LINK, which makes tokenization possible for many of the products due to being able to link pricing efficiently.

On Base, the industry has been more widespread with AERO and VVV dominating flows. It takes much less capital to pump VVV, which has been on a tear, and it has been the best way to express the private inference trade since the turn of the year.

POD is the latest on-chain token that has been the second iteration of that trade, as it is the AI Lab behind the uncensored models on Venice.

PUMP continues to be heavily accumulated on Solana, while people seeing this trend have responded by buying memes aggressively as a result, with both USELESS and aura experience very strong bounces in the form of lockout trends.

The people on this chain also refuse to give up the battle regarding Asteroid and continue to try to force a vampire attack on the one that resides on mainnet.

Sleuthing

Since the Templar drama in April, the Bittensor community has been attempting to deal with the fallout and how to handle Founder exits better. The Bittensor community has introduced “Conviction Locks,” which means that subnet-owner exits become slower and more visible. This implies that founders can’t just fat-finger an exit in one go in a similar mold to what took place with Templar.

This has tradeoffs:

The good ones are that investors don’t get left holding the bag by waking and seeing that the leading developers of a subnet have dumped their tokens.

The bad ones are that if founders aren’t “allowed” to sell on their own terms, they are disincentivized to build on the ecosystem, which would lead to the best builders wanting to avoid the headache to begin with.

There is no perfect solution, but one man’s action has given the ecosystem PTSD, causing these measures. Wouldn’t surprise me to see them get tweaked in the future as things mature and evolve from here. Still, one risk has been contained for the time being.

Relevant Token Unlocks

The most alarming and ridiculous unlock size is undoubtedly PYTH, and the team is notorious for picking up their marketing going into these supply events, so keep that in mind as we approach May 20th.

Risk should be increased at the beginning of rallies and not at the tailend of them, make sure to not get caught in potential crossfire by chasing at this stage.

Subscribe now

I hope you enjoyed the post. Don’t forget that you are more than welcome to leave feedback or drop any questions in the comment section.

By upgrading, you get access to:

• Institutional-level weekly reports of protocols and crypto-related equities

• All previous articles, and being able to request deep dives of what you want covered

• Direct Q&A Access at all times

Refer a friend

• Earn free subscription months when you refer a friend who subscribes.

• Bypass the complexities of crypto tax calculations effortlessly with the best-in-class tax calculator app – quick, precise, and at your fingertips here.

• Disclaimer: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing on the site constitutes professional and/or financial advice, nor does any information on the site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. I am just sharing my opinion. This post may contain affiliate links.

Crypto has spent years trapped in regulatory purgatory, which has included bursts of innovation, followed by lawsuits, uncertainty, and capital held back by legal uncertainty. The CLARITY Act matters because it could mark the first serious attempt to redraw that map in a way institutions can actually use.

If Washington moves from regulation by enforcement to a workable market-structure regime, there is room for clear winners to emerge in the right verticals.

This article is going to focus on a small set of tokens that stand to benefit from a cleaner path as digital commodities. It will also dive into a larger trend that could define crypto’s next few years in order to get real distribution, broader usage, and the return of meaningful on-chain activity after a long period of stagnation.

What has happened with the Clarity Act so far?

• July 17, 2025: the House passed H.R. 3633, the CLARITY Act, by 294-134. As of Congress.gov, the bill remains in a Passed House status and was referred to the Senate on September 18, 2025.

• January 14, 2026: Senate Banking Chairman Tim Scott postponed the planned markup, saying bipartisan negotiations were still ongoing.

• April 30, 2026: Scott said the committee was “nearing consensus” and still working toward a bipartisan path forward.

• May 1-5, 2026: multiple reports indicated Senators Thom Tillis and Angela Alsobrooks reached a compromise on the most contested live issue: stablecoin rewards/yield. The reported direction is to ban rewards that are economically similar to bank-deposit interest while preserving activity-based rewards.

The practical takeaway is that the bill has not passed the Senate, but the most important new development is that the main Senate bottleneck appears to be easing.

The official hearing is scheduled for May 14th (Thursday), which should make things clear going forward

Main Beneficiaries

The Clarity Act will draw a line between what the SEC and the CFTC will have oversight over, as protocols previously operated in regulatory limbo and were subject to the risk of being regulated with punishment (or whatever the phrase was).

Altcoins not living under securities-law ambiguity and viewed as part of the larger financial system will be more investable, as they will be perceived as commodities instead.

The tokens that likely benefit the most from this are the ones that sit near institutional adoption and tokenization.

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I realized that some of the information is still appreciated in the standard format, but I tweaked it a bit to only include the important part and keep the longer thoughts within the market digest sector. I believe this should satisfy the majority of readers.

This latest BTC rally has frustrated a lot of people who became obsessed with “monitoring” the situation at the Straight of Hormuz, not realizing that bad news gets priced in very aggressively and fast while the market remains forward-looking.

In a similar mold, people were calling the crypto industry dead and buried while the fundamental backdrop gets increasingly better from an investable standpoint. People wanted institutions, but as they enter, it is now “dead”. Funny how that works.

Green candles are the best form of therapy for people involved in this industry, and I fully believe that optimists will continue to win as there are increasingly large actors that are taking an interest in the space, while people check out due to the 4-year cycle or alts underperforming stocks.

While that might be the case, it doesn’t have to last forever, and the crypto industry remains among the few places left where good alts aren’t severely overvalued and might experience a J-curve effect over the coming years for the patient people.

I think in one of the first (if not the first) articles I wrote this year, I said that the industry needs you to believe more in it now than at any other point, as the hard work laid down over the past decade is about to come into fruition. And we will cover it here, every step of the way.

Market Digest

TON

Pavel Durov (the Telegram founder) announces that Telegram will replace the TON Foundation regarding the TON token, which became a buy-the-news catalyst and has caused a very aggressive move.

I believe most people won’t look deeply into this, but it provides a great opportunity for a platform with great distribution to become a real long-term value play, as Telegram has over 1B users and can direct them towards the TON network in a natural way.

It is the platform and ecosystem best positioned to rival and take significant market share from Solana as the de facto retail-friendly chain, considering fees have dropped to insignificant amounts with the latest updates as well.

I would actively look for pullbacks on TON to build a long-term position given the impending backdrop, as it has a strong figurehead to lead it as well.

Clarity Act Compromise

The revised Clarity Act includes a compromise that implies that stablecoin issuers would not be allowed to pay passive yield on reserves, while transaction-based rewards would still be allowed.

I think it has been overstated how “bad” this deal is for the industry, as rewards can still be distributed for “active” stablecoin holders who use it and produce volume. It’s an annoying workaround, but it can still be worked with nonetheless.

Although it is comical that Coinbase tried to position itself as some sort of white knight for fighting for the industry’s right to get stablecoin rewards, when in fact they made sure to get their own OCC charter approval, which allows them to operate as a bank. Comical.

Solana makes TAO tradeable

Solana bridges a canonical version of the TAO token through Sunrise DeFi, and it is now tradeable on their ecosystem to give people more access to DeAI exposure on their chain. The strategy behind this move is based on the premise that all meaningful assets should be globally accessible the moment they come onchain because of their Internet Capital Markets thesis.

DEX Volumes

Hyperliquid dwarfs everything else when it relates to volume and has maintained a steady course of volume since the February crash, and isn’t showing any signs of slowing down soon.

Even though on-chain is coming to life on other chains, it is not remotely close to what it has been previously, with Ethereum showing the largest signs of life over the past few weeks, although it has dipped in activity since the beginning of May, with capital continuing to rotate.

NFT Trading

NFTs have slowed down their rally and attention over the past few weeks.

Although I still maintain the belief that they will continue to have a key role to play, if Ethereum is going to have any material chance of bringing back the speculative frenzy that it once enjoyed. And if that were the case, BAYC still makes a decent long-term investment for under 10 ETH.

Ethereum’s performance and apparent identity crisis in the form of narrative remains a tailwind that needs to be solved before things can properly accelerate. It has remained an underperformer during this latest market run-up.

Net Inflows

These tables have always been appreciated, so let’s take a look at what people are actually buying.

On Ethereum beyond ETH and BTC t is LINK and a new launch in the form of sato that has attracted a lot of buyers. It is the latest Uni v4 hook experience that is taking place on mainnet and has experienced an aggressive move already, so don’t fomo. It can be explained by this:

“Issuance happens through one contract, a uniswap v4 hook, set as the only minter at deployment and locked there. when ether arrives, the hook computes how much sato to mint and keeps the ether as reserves. the price of the next sato is p(eth) = (S/K) · e^(eth/S), with S = 500 ether and K = 21,000,000. the only variable is eth, the cumulative net ether ever paid in”

You can read more about it in the whitepaper here.

On Base, Virtual, and VVV are the dominating assets in terms of what people are interested in accumulating. I mentioned in last week’s post that they were preparing for an announcement, and the market has finally started to price things in.

The benefit of not trading in a full-fledged bull market is that you normally have time when news or information appears, as people aren’t as diligent at the moment.

I would be lying if I told you I understood why anyone would be buying the TRUMP memecoin at this stage. But apart from that, Fartcoin and PUMP have been significantly accumulated over the past days as people are hoping for Solana to bounce, which tends to happen at the tail end of moves nowadays.

Sleuthing

People continue to remain cautious because we are in a bear market timeline but it is worth considering that we didn’t have ETF buyers in previous regimes while people expect everything to play out as 2022. Spot BTC ETFs added $532.2M on May 4th and $467.35M on May 5th, so the structural institutional bid is still alive.

This doesn’t mean that we won’t see pullbacks but being pessimistic for too long will likely cause more pain as people wait for $40K BTC.

Relevant Token Unlocks

I would normally not even pay attention to a token like OBOL, which is a low cap, but almost 11% of supply hitting the market in one go can’t be ignored. The chart is already starting to explain why.

Respect the pump.

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I’ve been talking a lot about collectibles and NFTs recently, as they have been a liquidity driver over the past weeks. I’m going to wrap it up with this article covering the latest hybrid asset, rising in popularity on the Ethereum mainnet, as we move on to other market sectors after this.

NFTs have been in a multi-year reset, and we are now seeing a project emerge that is an attempt to rebuild NFT trading itself.

In today’s post, we will deep dive into Unipeg, why it matters for NFT liquidity, and what the financial opportunity could be. The next serious NFT primitive may not be a static ERC-721 collection searching for liquidity after launch, but a liquid on-chain object whose market activity, ownership state, and visual output are all connected.

The core thesis is simple: The protocol matters less as a token and more as a design proof for liquid generative collectibles.

Unipeg is the first convincing example of what a post-2021 NFT primitive might look like.

TL;DR: There is more resilience in this NFT revival arc than people are willing to admit, and the capital is flowing to the top while people are excited about new experiments. NFTs have been neglected for too long in favor of DeFi on Ethereum, but that might not be the case for much longer.

What is Unipeg?

Unipeg is a collection of images generated from on-chain market activity. Where the hash is written permanently to the contract. It uses block data that is stored and exists on Ethereum permanently.

The token contract is verified on Etherscan and has a fixed total supply of 10,000 uPEG tokens.

NFTs used to be criticized for being hosted on IPFS due to its reliance on gateways, while Unipeg uses on-chain storage instead.

The standard NFT model is more about the discrete object instead of the market structure, which works on the way up but becomes problematic when liquidity dries up, whereas in this case, you see the market structure in front of you from the get-go.

How it works

You buy uPEG tokens from the pool (and cross the whole-token threshold) → new uPEG object is minted (where the state is stored on-chain) → collectible can trade on a marketplace

If the object is sent to another wallet, then the object moves with it if the receiver has received more than 1 full unit. If a holder drops below 1 full unit, the object gets burned.

The collectible side is also not a fixed 10k collection in the familiar NFT sense. The active NFT count is capped by whole-token balances, but the historical ID count can grow indefinitely because _upegsTotalCount increments monotonically every time a new object is created through swaps. OpenPeg (the marketplace where they are sold) captures this: as of May 2, 2026, it showed 9,515 current items, but also asset IDs above #58,900. This implies that the market has already created and destroyed far more objects than currently exist.

Main core value proposition

• Fractionalized positions - partial exposure to NFTs through the token layer, while also being able to exit partially

• Exit liquidity - instant exits through the pool instead of having to list the NFT and rely on “below floor price liquidity”. No need to wait for a buyer of a specific item.

However, it is worth noting that it does not solve the liquidity challenges that different traits face that might be worth more than the general collection. Pricing rarity still becomes a niche element of the market.

Nonetheless, there is a rarity prevalent amongst unipegs based on the age relative to the oldest object and the uniqueness of each NFT relative to every other object.

Perception

The ceilings of the protocol will be determined by its perception.

If you view it as a memecoin, the question is attention, liquidity, holder growth, and reflexive price action.

If you view it as an NFT collection, the question is floor, rarity, culture, listings, bid depth, holder quality, and sales velocity.

If you view it as infrastructure, the question is whether other teams copy the mechanic and whether Unipeg becomes historically important as the first successful version.

If you view it as all three, which is the goal of the protocol, then the ceiling and staying power are likely higher than expected.

How does Uniswap v4 Hooks play into this?

Uniswap V4 hooks enable an AMM to become a programmable execution surface. meaning that a pool can attach an external “hook” contract that runs before or after the contract has been initialized, while one hook can serve different pools.

So, in this scenario, if a team wanted to trade an NFT and also mint a collectible while updating metadata, adjusting the fees, and managing inventory at the same time based on the amount held, you would normally have to build a separate type of logic around the AMM to make that possible.

However, due to Uniswap v4, all of that logic lives within the pool lifecycle.

0xHadrian (author of the Unipeg blog and founder of the protocol) made a great point recently that Uniswap v4 lowers the cost of trying new market designs that previously have been relatively costly on Ethereum. This might lead to us seeing multiple new on-chain experiments in the coming year, with the cost of entry being lower while the barrier to entry still being at a decent standard to avoid it being productized by serial deployers prevalent in other ecosystems.

Unipeg is the first direct expression of that experiment taking place.

Why does it matter for Ethereum?

Not a lot of coins to trade at the moment, which is actually better for higher ceilings because people are pulling together in one direction by bidding on the select few that matter. And when they run, they tend to be concentrated and go higher than people expect

On-chain activity has been lacking, and people have been burned on Solana. People are banding together to bring back “the glory days,” and making Ethereum great again is becoming a mantra to band around.

I continue to harp on NFTs because it is the market sector that created the initial frenzy for Ethereum. With this sector being the main driver for attention and liquidity on-chain, it creates the best opportunity to cause a frenzy, making people who left crypto because “NFTs died” generally interested again.

When I look back at the people that I knew who were interested in crypto in 2021, 80% of them became interested due to NFTs and were mainly trading them. Since that didn’t come back last cycle, they never had a material interest due to AI being the rage as well.

This is the BAYC chart over the past month, which is likely to be one of the few collections to capture the lion’s share of attention and capital if they do return. Asset selection for NFTs will be prevalent as it has been for tokens.

Never ignore microtrends that are emerging from a bear market. This is what gives you an edge over people who are currently tapped out, waiting for the 4-year cycle to start in October.

Risks

Thinking from an NFT collector’s standpoint, the main risk could be that it struggles to develop a culture that causes real “collector demand”. As the liquidity dynamics make it attract a trader-focused holder based instead of collectors that care about “art and culture,” which makes them hold it regardless of price, due to it being something they genuinely like to be a part of.

Crypto loves novelty. The first version of a new primitive often receives huge attention because it feels like a new meta. However, we tend to speedrun things very quickly, and with several copycats already appearing, be wary of liquidity fragmentation that tends to appear when malicious people try to steal your capital from you.

Additionally, there has been some drama recently surrounding “rarity washing,” where a normal user can keep buying, burning, and retrying swapping in the pool until they get a better-looking unicorn, but fees, slippage, and gas make that expensive. A sophisticated user with a custom contract can compress that loop, test outcomes at scale, discard bad variants, and farm rare objects far more cheaply than everyone else. This has made everyone question trait rarity, which caused a severe pullback, which was an opportunity for people confident in what they are holding.

This, in combination with duplicate images being possible, created a large fud event as some people value rarity based on uniqueness, while others emphasized provenance. It’s a matter of taste after all.

Lastly, we have already seen people trying to bid “MSTR-like” vehicles on top of it and running into issues. Thus, as always, smart contract risk is the critical risk relating to a new protocol like this emerging.

Conclusion

Unipeg is an interesting primitive; it materially expands the NFT design space and may become historically important if hook-native collectibles become a real category.

If NFTs recover, it probably will not be because the market suddenly decides to replay 2021. It will be because new formats make digital collectibles more liquid, more dynamic, and more native to on-chain markets. Combined with old resilient collections emerging stronger from the onslaught, the market sector has taken which brings a lot of eyes back to the market after having lost the user base to Pokémon Cards.

DeFi has taken center stage on Ethereum, while it has struggled to amass users beyond smarter institutional capital that realized that it doesn’t make sense to take excessive risk for marginal APY. NFTs have actually been the sector that has brought in the speculative capital at scale for Ethereum, while it has been neglected for a long time, it looks like that is starting to change going forward.

Unipeg and BAYC are among the projects that actually point in that direction.

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Disclaimer: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing on the site constitutes professional and/or financial advice, nor does any information on the site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. I am just sharing my opinion. This post may contain affiliate links.

Time for another weekly post, with this time on-chain speculation rising in different parts of the market that are partially new. People are clearly seeking new experiments based on where capital is finding itself.

On-chain is attempting to make crypto x biotech a thing

DeSci has been the talk of the town over the past few days, with peptides being the rage at the moment. I covered this topic and its potential in depth almost 2 weeks ago, which can be read here.

However, it is starting to attract attention, and it’s worth highlighting that liquidity continues to rotate faster in this dry market environment, which is paramount to be wary of. However, the story is that people want exposure to AI biology R&D funds, and DeSci is the closest bet we have in crypto, where they are trying to generate something tangible from it.

One protocol in the form of BIO protocol is dominating the sector and is likely where capital will consolidate in case this starts to materialize, while smaller on-chain ideas are emerging that don’t have the same substance as it currently stands, but speculation drives liquidity.

The other protocol (that doesn’t have a token) that is driving attention to this to become a DeSci accelerator is Vrilpeptides, which actually have peptide products that people are actively using that they are selling. This tweet by the founder contextualizes the idea well:

Despite being in a bear market, it is never a bad idea to stay curious instead of writing things off immediately. This doesn’t imply that I am super bullish on the idea yet, but I am willing to warm up to the idea to see how things materialize.

For things to start to move, BIO likely has to make a significant move (which it has started to do to be fair) to continue to make it interesting, considering green candles are the best form of marketing. But I would keep a close eye on the partnership and developments that happen on Vrilpeptides‘ side as well. While monitoring where the price action can be sustained.

Crypto x AI

Virtuals are preparing for a big announcement, apparently.

The danger here is that an announcement of an announcement runs the risk of being underwhelming, considering the market is anticipating something now instead of being surprised by it. However, considering the token recently got listed on Coinbase there is a possibility that it is part of a larger plan to make a big announcement.

Nonetheless, you should only hold VIRTUAL if you have a strong conviction in it, and if you’re looking to get up to speed on the ecosystem and what the protocol does, you can read this article.

Virtuals continue to make strides in robotics, and I would keep a close eye on Eastworlds going forward, which is the robotics arm of Virtuals, which remains a tough market sector to get tangible exposure to.

Caspius, launched the other day, has gotten people interested in the sector again by focusing on providing datasets for robots (VLAs).

Another NFT pointer

Uni + JPEG = uPEG

So last week, I discussed why NFTs might make a case for a return. This week, we are going to quickly mention a protocol that is combining non-fungibility with Uniswap v4 hooks to make an “interesting” and recurring combination. Although in an ecosystem that is looking to get behind its second flagship market sector.

uPeg is similar to ERC-404, with the only difference being that you get a new minted NFT every time you swap between the pool instead of recycling the same old tokens. Basically, every time you buy a whole (a full integer) of uPEG, you get minted a new unicorn-based NFT.

Nothing groundbreaking here besides Unicorn having a pivotal role in reviving the interest for on-chain digital art as it currently stands. Although the main value proposition to take from this, in case it becomes a new norm, is that it does help solve the liquidity issue that is prevalent amongst NFTs.

Still believe that the contentious blue chip collections (BAYC/MAYC et al.) will be the ones to lead the wave if it does materialize once again.

People like the monkeys.

Final thoughts

Most people will rightly remember the last cycle as the very last luster in regard to liquidity in comparison to prior cycles. While this is correct, it was also due to it taking place during a monetary contraction for the first time, with the rates being high and the remaining liquidity going to AI (and who can blame them).

However, right now, it does look like with the new Fed chair coming in, those conditions might be changing towards the end of the year, with rate cuts taking place, which would potentially imply that the next wave of liquidity hitting the broader market will do so with a more ferocious effect than it has done in the last 4 years.

As always, I expect this capital to consolidate within a few winners while the rest of the market struggles, but it will also be obvious when they do appear accordingly.

Stay optimistic, stay alive, and be there when it is time to win.

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So I was taking a walk after reading a pocketbook called “Show Your Work” by Austin Kleon, and the NFT thesis randomly dawned on me, and I thought I needed to extrapolate on it more, and why it has a place to play, and why people connected with it so much in the first iteration of it.

Tokenized collectibles are becoming one of the clearest consumer-facing RWA categories that are finding product-market fit.

This, combined with the re-emergence of NFTs, is making this one of the most compelling sectors to look at. Considering that it is contentious because people are overlooking it, as it has been driven by “Pokémon cards,” which haven’t been taken seriously, even though the way it has functioned has been a driver in making NFT-related volume rise again.

I touched upon this recently in the latest weekly article, but we are going to take a deeper look at this in this article.

The question is whether collectibles are the retail driver of RWA (Real World Assets) that generates retail interest, given that treasuries, credit, and commodities are relatively unappealing to the average Joe.

NFTs Resemble a Form of Connection

So I titled this section, “NFTs resemble a form of connection,” and you might ask, “What is this pseudonymous internet figure even yapping about?” Alright, so let me land here.

Whenever someone decides to appreciate art or follow or connect with a content creator, you do so because you feel some kind of connection or you receive value for doing so. Now, this is a given. However, humans are social beings that seek deep connection, and they always strive for more. So it starts on a surface level, but then they want to understand how the product is produced, who is making it, and why they are making it, what the process behind it is. Everything that can be connected to the value each person receives from something wants to be understood.

People want the stories behind the work produced, and the last thing someone wants to feel is that they have been cheated on.

Cheated on in the sense that they thought that they bought a real piece of art, only to find out it was a replica.

Cheated on in the sense that they thought that a content creator produced something by themselves, only to find out that AI did everything.

The story matters, and storytelling is becoming increasingly important. Now, before I wrap up this section, why am I rambling about this? Because in a society where status goods have become a way for people to distinguish themselves, it is becoming increasingly harder to tell the real from the fake. With the rise of AI, having a verifiable layer that can ensure that the truth isn’t distorted, it ends up becoming very valuable.

Read more

I figured it was time to switch up the weekly articles a bit to be more in-depth and actionable whenever there is a clear indication for it. The idea will be short, but relevant information that is useful.

The return of Ethereum

It might be ironic that I say this due to Aave recently getting exposed due to a whitelisted asset on their platform getting drained. But it’s easy to bang the drums when everyone else is doing it and forget to see the bigger picture.

People are realizing that there is adverse selection on Solana when it comes to memecoins and there has been a clear on-chain momentum shift that is favoring Ethereum at the moment.

On-chain traders are increasingly getting tired of the new generation of Solana traders that do not care about bundling or rug-pulling (let’s just say morals) and are realizing that the odds are stacked against them in the ecosystem. The image above says it all.

Behaviours that would have made you get ostracized have become normalised as people are desperate and justify nefarious behaviour.

Additionally, since Ethereum whales essentially didn’t participate in the last bull run due to the ecosystem being non-existent, people haven’t been burned in the same manner on memes as they have more dry powder from simply sitting comfortably in yield positions throughout the years

When the ETH whales come to party, you don’t want to stay outside of the club, as they are the wealthiest on-chain participants by far.

ASTEROID has the potential to have the same effect on on-chain as PEPE had when it launched, coming out of the bear market in early 2023 and set the stage for the bull market afterwards.

Launching tokens got commoditized on Solana with zero friction due to pump.fun, which means that the barrier to entry was too low, and people continue to abuse the chart due to this, while on Ethereum, it costs more to launch a pool, and due to the gas fees, people are inclined to hold longer to not have a negative PnL with gas included.

It’s a double-edged sword, but the clear barrier that is needed as it currently stands.

The return of NFTs

What is deemed as status goods in the normal world is now experiencing issues with fake derivatives of the same product, where people can’t even tell the difference.

People are disincentivized to buy the real deal or even purchase these assets at all when the legitimacy continues to be questioned. If you ever followed the sneaker craze a couple of years ago, it got killed when the legitimacy of the sneakers sold was being severely questioned, and the market and hype died down as a result, with Pokémon cards stealing the attention instead.

We have come full circle, where the verifiability of the blockchain when it comes to status goods will be proven to be very beneficial again, which sets up NFTs to do well.

Considering they have been in a bear market for the last 4 years and the people that wanted to sell are likely to have done so already, the NFT ecosystem (the few that matter) is set up for an explosive move.

The same principle for alts is just as important, if not more important, for NFTs. Asset selection is key. You should focus on high liquidity assets that people can size into and have been proven to be lindy and can capture attention.

BAYC is an example of this that has remained contentious for a long time, and if it does well, it will likely enrage a large part of the population, which is a good bet to take.

If the Ethereum on-chain ecosystem continues to perform well and absorb liquidity from other ecosystems, it would lead to ETH outperforming again, and in that scenario, NFTs become a leveraged bet on Ethereum.

You should always keep an eye on what is leading from the front and pick them up when the noise is quieting down again. If summer becomes slow, as it tends to do with crypto, a World Cup will be going on at the same time. It wouldn’t be a bad idea to pick up a BAYC or two.

I wouldn’t even bother with MAYC “because it’s cheaper” as it is even underperforming the main collection and just dilutes capital.

It’s important to highlight within this that people participating on-chain want to have fun and make money at the end of the day. The NFT bull run is among the most fun and intense periods we have experienced, and that sector is starting to accelerate, which will onboard a lot of people who have been checked out for the last few years.

Longer-term

The wealth-effect opportunities will be generated by a new game or “narrative” emerging that hasn’t been “solved” yet by people understanding how it works or ends. Until that happens, there are a lot of people with sidelined capital who have been eagerly waiting to take on new on-chain opportunities, and will bid memes on Ethereum until the momentum shifts to the negative.

Also want to iterate that DeFi is not “dead,” but it will take some time for things to settle and to find a new middle-ground again, considering there have been some “not-so” decentralized moves taking place in the form of freezing due to Kelp DAO being drained. The moves were necessary at the time to not willingly fund North Korea, but also raise questions about how DeFi will function going forward.

While this fallout settles and finds footing, it gives room for the speculative side on Ethereum to take the center stage, which it hasn’t been doing since the latter parts of 2023.

Doomers will be proven wrong once again, and I continue to believe that the future is bright in this industry. I wouldn’t be writing in this void showing up every week, year by year, if I didn’t believe that would be the case.

Bears sound smart, bulls make money.

I might alternate between the two formats depending on what works best, but happy to receive some feedback on this so I can provide the most value for the readers.

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I hope you enjoyed the post. Don’t forget that you are more than welcome to leave feedback or drop any questions in the comment section.

By upgrading, you get access to:

• Institutional-level weekly reports of protocols and crypto-related equities

• All previous articles, and being able to request deep dives of what you want covered

• Direct Q&A Access at all times

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• Disclaimer: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing on the site constitutes professional and/or financial advice, nor does any information on the site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. I am just sharing my opinion. This post may contain affiliate links.

Peptides are becoming the defining wellness movement of 2026, with mixed responses from the general public.

Peptides sit at the intersection of three things that tend to be appreciated by the market, which are:

• Consumer obsession as the hype continues to accelerate.

• Regulatory ambiguity with prior banned peptides being made available again

• Falling discovery costs due to the usage of AI (also makes it risky)

The FDA has scheduled an advisory meeting in July that will discuss the inclusion of several peptides in a 503A bulk list, which essentially would make them permitted for usage.

However, as we all know, crypto natives love to latch on to big stories that are happening and try to brute force them into relevancy in the on-chain world.

While it hasn’t been attempted directly, we are seeing rumblings of the first on-chain appetite in this sector starting to emerge.

In this article, we are going to take a look at the emergence of peptides and how the on-chain landscape is responding in order to create an opportunity not being actively discussed right now.

What are Peptides?

At the most basic level, peptides are short chains of amino acids, where some are very established in medicine, while others exist in a gray zone that people overlook to consume nonetheless.

Peptides have become popular with the emergence of biohacking and performance enhancing, which have been accelerated due to the emergence of AI that is making the research process faster and more straightforward, even if not all of the alleged benefits are backed by scientific facts just yet.

However, as alluded to above, the government is taking a more open approach concerning peptides and believes that some that previously were banned deserve a new discussion.

The peptide most people tend to be familiar with is Ozempic, which is a glucagon-like-peptide-1 (GLP-1) that mimics the natural GLP-1 hormone and promotes weight loss.

If the access broadens for compounding, the total peptide market will grow as a result.

So what does on-chain have to do with peptides?

Read more

Risk appetite is coming back, with BTC breaking the 2-month 72k resistance. Considering it acts as a barometer for global risk appetite, equities have rallied alongside it as well, with the SPX even making a new all-time high. Stablecoin supply continues to grow, and all it takes is a couple of green candles to cure the doom and gloom we have experienced over the past week.

Long may it last.

In another corner of the industry, a Bittensor subnet founder rugged his subnet, sold $10M worth of TAO as a result, and tried to blame it on the founder, which set (metaphorically) the building on fire as people panicked and sold as a result.

If you’re not a panican, it’s a great opportunity to pick up some TAO sub $250 if you do have conviction. I’ve iterated multiple times, every position you ever buy will test your conviction at one point.

How you react will tell you whether you have real conviction or if you’re overinvested.

The question that remains with this current price action is whether the Clarity Act will end up passing or not, as crypto still remains relatively suppressed in comparison to stocks.

Discussions about freezing Satoshi’s BTC due to quantum risk aren’t helping the sentiment either.

Market Digest

BGD Labs has left Aave: It is finally settling in as the technical competency of BGD Labs has left the Aave DAO, which will leave a vacuum for the largest money market in the crypto industry. All this governance fallout comes at the suffering of Aave holders who have had to watch the token getting pummeled price-wise as a result.

It’s very possible that they use all their knowledge and competency to build a competitor to Aave, as there likely was no non-compete clause in their prior agreement.

The fallout from this is the reality that DAOs don’t work, and the dream is buried in the water.

We need more compute: The demand for compute is accelerating, and data centers such as IREN (Sweetwater 1) and other crypto companies that have fully pivoted or partially pivoted (GLXY) are reaping the rewards of this. People want to own the power source of AI as we continue to need more of it.

If dead internet theory is real and agents will dominate online discourse and financial activity in the future, the power grids are the ones that will “keep the lights on”.

Bridge Flow

TVL is surging to Arbitrum, and while it is clear to put it down to one reason, the newer set of Arbitrum-native protocols is starting to do well, which is good for the ecosystem. USD.AI, Variational, and Ostium are going from strength to strength and giving the ecosystem some light. Also worth noting that L2s experienced unlocks recently, which might play into this.

Optimism has seen some rare stablecoin inflow, which is driven by Derive and Spark. The great thing about good products is that people don’t care what chain they are anymore; they just use them, which is an indication of where we are heading.

DEX Trading

The trend continues from the previous week, with it going upwards as Solana remains the place to express retail appetite, as memecoins are coming back, while Hyperliquid is the preference for large allocators playing perps, which continues to explode and has been one of the causes for the token being pushed close to all-time highs. Strong business with a lean team continues to make it a no-brainer.

Pair Volumes

Activity on Base continues to be concentrated in AI, with VVV making a new all-time high as the privacy AI option, while Virtual continues to dominate volume among non-large-cap alts. WOON is the latest agent launch to capture some interest on-chain, but the numbers are minuscule compared to the next ecosystem, Solana.

Aero has performed decently as alluded to last week, still an announcement pending.

The real story of Solana is the re-emergence of memes and Unc in particular, but considering so much of the volume is spoofed nowadays to game metrics, the dataset doesn’t produce the outcome that displays this.

Amongst the large caps, Bonk reintroduces itself while most of the other tokens are frankly disappointing.

NFT Trading

Despite an increase in positive price action in the short term for the industry, NFTs unsurprisingly continue to suffer while TCG traders are enjoying trading Pokémon cards.

Net Inflow

Net inflows continue to tell a much better story of what actually happens on-chain instead of looking at trading activity.

AERO has unsurprisingly seen the heaviest accumulation over the past week as people are hoping on the catalyst trade playing out favorably. VVV continues to become stronger and make a new all-time high which is something most tokens won’t do in a long time. Impressive. The rest of the tokens in the ecosystem is frankly fighting for scraps in this current market environment.

The main story in this flow is that Fartcoin is starting to look bottomed and is starting to coil up. This as a result have led to the emergence of small cap memes surging because people don’t want to buy the large caps with the limeted slosh of liqudity that keeps moving around.

The market gets smarter and realizes that it takes less money for more multiples which has led to concentrated bids on Unc.

Sleuthing

In the last week’s article, Subnet three were accumulating the highest emissions on TAO due to being the frontier of the ecosystem. After the founder sold it has gone to zero and the TAO flow has gone back to SN 0 (Root) as a result while other subnets such as Subnet 5 (Hone) and Subnet 24 (Quasar) are capitalizing as a result.

Relevant Token Unlocks

Worst unlocks happened at the first half of the month but clearly there is no interest in all of these alts when equities are performing so well.

Optimists will continue to win.

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The x402 protocol exploded when it came into the market during October 2025, and was the final market sector that made people excited before we hit a wall, which was followed by the infamous 10/10 event.

Since then, there have been critical developments that involved the tech industry that aren’t being appreciated by the broader crypto industry because we have been experiencing difficult market conditions, combined with an oil crisis fueled by war.

People have taken their eyes off crypto with interest and sentiment being at lows while the tailwinds and fundamentals for the industry are improving, which people who aren’t doing the work right now will likely be rewarded for in the not-too-distant future.

On April 2 2026, the Linux Foundation formally launched the x402 Foundation, which has the potential to become an open standard in internet commerce, and is being heavily backed by every layer of the global payments stack.

In this article, we are going to dive into the latest developments regarding x402 and what implications they have for the long-term adoption of the protocol, and what opportunities there are related to it.

The Internet Payment Layer

Read more

The first week in April was a big week to say the least, with obscene war threats with potential escalations, de-escalations, and re-escalations, and reiteration of de-escalations and ceasefire talks.

Just from this sentence alone, you can imagine the headline terrorism cycle we continue to find ourselves within, but what it has demonstrated is that the market does have some appetite to re-rate upwards (crypto in particular), as any indication of ceasefires has been met with strong green candles.

Indicating that positioning was heavily skewed downwards.

In the meantime, while people are obsessed with macro, the Agentic Economy market sector continues to grow as decentralized inference outpaces supply, while Bittensor and Venice remain the on-chain proxies for this bet.

People are increasingly looking for AI utility trades that are looking like it will continue to dominate the on-chain market sector from a trade standpoint, while the traditional financial market has a SpaceX IPO looming that is looking to be a liquidity sink for mega caps.

Market Digest

Stablecoin supply hits an all-time high:

We have reversed course since the end of last year, and the on-chain stablecoin supply is increasing again. Good times aren’t priced in, optimists will win in the long-term.

In addition, stablecoins are increasingly becoming a pillar of the new financial system; the future is bright.

Quantum-Resistant BTC: Bitcoin developers develops Quantum resistant BTC wallets and continue to be a reminder that all of the FUD is a testament of peak bear market doomerism that likely gets solved as the baseline security system is going to be upgraded across the whole security stack, for crypto and non-crypto related activities.

In addition, we are also seeing quantum-safe Bitcoin transactions being introduces indicating that the community is taking the potential threat very seriously.

Bridge Flow

The top 3 chains for inflows have dominated for some weeks now and seem to be the start of a continuous trend instead of being a flash in the pan. Polymarket and Hyperliquid being so strong in comparison to the rest of the chains is a testament to how successful they are from a moat standpoint.

DEX Trading

The chart confirms the bridge flow trend related to Hyperliquid, as the volume is picking up with increased capital, leading to higher volumes as well. The on-chain volumes on Base look to have stabilized for the time being, while Solana has seen an increase over the past 2 weeks as well.

Pair Volumes

The on-chain Base bid remains concentrated and likely will continue to be so for the foreseeable future until a large liquidity wave hits on-chain which requires the wealth effect to happen elsewhere first (majors and large caps). However, VVV and VIRTUAL remain the tokens that is capturing the lion’s share of that capital while AERO is starting to wake up with their mainnet launch and merge being imminent.

Bear in mind that AERO tends to pump hard going into these announcements, while they always end up being a sell-the-news event.

Fartcoin is back in the fore as people are buying it to express their risk appetite on Solana. However, trying to trade this intraday is making people lose hair as you are better off building any kind of conviction if you believe memecoins will have a come back.

However, for the past months memes pumping have been at the tail-end of local rallies and haven’t proven to be sustainable.

PUMP continues to be in a Sahara desert.

NFT Trading

BAYC and Pudgy Penguins have experienced significant bounces over the past week as people are buying NFTs as a contrarian bet as a response to pokemon cards and TCGs doing so well.

Not my cup of tea but each to their own.

Net Inflow

Not often you see more cbBTC being bought on mainnet nowadays than ETH but it’s a testament to how scarred people are from Ethereum’s underperformance, especially considering the foundation sold more ETH to fund more R&D recently.

Base is where all Ethereum-related retail activity is taking place and the risk appetite is slowly returning with USDC flows being in the negative and flowing into majors and ecosystem tokens which can be see in the price action. Beyond BTC and ETH, AERO is the most aggressively accumulated token with MORPHO and a new launchpad platform LIQ being of interest as well which gives reminds me of a similar platform that emerged in 2024 that I have now forgotten the name of.

Nonetheless, the lesson from that time was to bid the main token and not be bothered about the other “betas”.

Sleuthing

Subnet 11 on Bittensor is growing in attention and stature by focusing on building domain skills for agent to improve the performance of models.

Increased volume generates more TAO emissions for the subnet and leads to aggressive short-term reflexivity which is worth watching is they can maintain. The people that are willing to dive deep into the ecosystem will win.

Relevant Token Unlocks

The Aptos unlock in this liquidity environment is going to be interesting to say the least. You know what stunts they are pulling in case you see any notable announcements in the coming 3 days. Don’t fall for it.

For this weekend in the paid stack we are going to dive into one of the most aggressively growing verticals this year that isn’t being appreciated by the market yet.

Another microtrend that might become larger as time goes on.

Until next time.

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Many moons ago, I talked about “category-defining crypto investments,” which implies that whenever a vertical emerges in the crypto industry, the winner tends to concentrate within 1-2 protocols that take the lion’s share of attention and capital in that sector.

In return, they trade multiples higher than the rest of the protocols that attempt to compete, as they have no competition beyond copycats, because most of the time they have an established moat, which is a rare thing in an industry known for endless forking.

The last time I talked about this was when privacy was bubbling, which is now establishing itself as the de facto exposure to the cypherpunk sector of the market.

We seem to be reaching that stage again, when people aren’t paying attention, where we have an old vertical starting to bubble up, with one leading protocol showing potential of becoming a market leader.

I’m also going to be clear here before we get started, I have been permabearish on the crypto gaming sector for a long time. So, taking the time to research and write about this is just as much about me widening my horizons and being open as it is to provide some new information to the subs.

Information might be commoditized with AI nowadays, but synthesizing and knowing where to look isn’t.

In today’s article, we’re going to look into a forgotten sector that is starting to see signs of revival by using underlying crypto rails to power it.

Read more

So last night, Trump held a highly anticipated press conference that people were hoping would be good news related to the Iran war. However, considering how closely he followed the script and U.S troops being on the way to Iran and how forceful he was, it’s likely that we see some escalation that causes more market panic before things improve.

The Strait of Hormuz remains closed, and the market impact of this will continue to be felt by companies and likely priced in very aggressively in the coming days.

This headline market or borderline headline terrorism is tiresome and is a true testament of bear market activity.

To top it off, Drift, which was the leading Perp Dex on Solana, was exploited for north of $280M, which is a typical bear market event as well.

Trying not to become too much of a macro doomer even if the environments are gross as it currently stands, so it’s almost better off if we rip off the bandaid for a war that nobody wanted.

Market Digest

Subnet Speculation: There is a good chance it becomes increasingly likely that the main volume doesn’t happen on DEXs trading memecoins, but instead it is competition for emission yields across the top 10 Bittensor subnets, as it is a growing microtrend in this bear market. You want to look and accumulate what is interesting in a lull-period when people stop talking about them (likely summer).

Quantum-Resistant Hedges: Capital violently rotated into privacy coins and L1s with post-quantum roadmaps (like ALGO and QRL) following the Google paper, as funds hedged long-term cryptographic risk. You can call this a stark overreaction, but it’s worth considering in the long-term as Bitcoin becomes a risky long-term hold (10-20 years) unless this is dealt with, especially because of Satoshi’s coins.

Drift Hack spillover: The spillover effect of the Drift hack might eventually hit the equities market, considering that DATs were involved in this as well. Not great, as it becomes another stick to beat crypto when the Republicans lose the Midterms which is very likely to happen.

Circle not acting quicker and freezing the funds is not a great look either.

Bridge Flow

Polygon and Hyperliquid continues to remain the most relevant ecosystems for the time being (Polygon because of Polymarket). While Base is starting to see an inflow in on-chain capital entering the ecosystems, partially due to Venice and Gauntlet.

DEX Trading

Hyperliquid continues to be the only ecosystem that is seeing a continued sustainable increase in DEX volume while Solana continues to experience boom and bust cycles with shorter intervals related to the on-chain volume.

The other ecosystems are non-existent as it currently stands.

Pair Volumes

As quickly mentioned above, VVV is the liquidity black hole on Base as nothing else is remotely interesting to trade on the chain barring stablecoins swaps. Risk appetite remains concentrated which also makes it easier to know what the only thing worth buying is for traders.

The memecoin bounce on Solana featuring Fartcoin lasted for a very long time as people continue to anchor to fundamentals in a bear market. We are seeing RAY entering fore for this very reason while PUMP continues to struggle despite “huge” buybacks.

PTSD from Rollbit will be on traders’ minds while this is taking place,

NFT Trading

There’s one way to describe this. Every time I look at these prices nowadays, they are lower and showing no signs of slowing down, with Punks being the only collection retain any sort of significant value.

Net Inflow

Traders have continued to flee towards stablecoins on Base as the majority of assets have been sold off barring VVV and AERO which continues to be in an accumulation phase going into their Q2 announcement. KTA also bounced very hard with the latest Quantum news released by Google and Justin Drake. Proxy trades works very well (and fast) in a dry market environment.

Solana has been dryer than usual with PIXEL being the only notable token that has seen any significant positive inflows this week which can be seen in the chart. Otherwise, this is an ecosystem in slumber as it needs to find its feet after the memecoin frenzy stopped.

Sleuthing

Uniswap comes under fire for their governance financial update that claims that they have a 13 month runway when they have $49M worth of stables in their treasury. Ridiculous operational costs to run the app if that would be the case.

You can follow it here.

Relevant Token Unlocks

No out of the ordinary unlocks, just the standard procedure of medium-sized ones that will continue to put selling pressure on alts with no buyer interest. The great cleanse is underway.

We are almost 1 year from last year’s Liberation Day, and something tells me that we are about to experience something similar as well, which might get ugly.

Simply survive.

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So there is a quantum frenzy today with Google publishing a Quantum paper that put everyone on alert, as the quantum risks the industry is facing apparently will be more accelerated than previously expected.

Prior to the paper being published, the consensus was that there it wasn’t going to be an issue until at least 2032. However, this has been cut short by 3 years due to the rapid pace of development, and alarm bells are ringing as previous assumptions are fragile.

Let’s do a quick dive into what is actually going on here.

In today’s post, we’ll break down what has actually changed, how quantum attacks on crypto work in practice, and why this may become one of the most important long-term structural risks the industry has ever faced.

Resource reduction

The main breakthrough of the paper is that it requires fewer resources to break the 256-bit ECDLP that secures modern blockchains. It’s been a 20-fold reduction over prior estimates, which is significant to say the least.

Modern blockchains rely on elliptic curve cryptography (ECDSA, BLS) for ownership and consensus.

The core assumption underpinning this system is that deriving a private key from a public key is computationally impossible using classical computers. This assumption has held for decades and is the foundation of digital ownership and security across the entire crypto industry.

This assumption is now being broken due to Shor’s algorithm.

Three attack vectors

On-spend attacks

These attacks come from you exposing your public key by broadcasting a transaction. A quantum system can derive your private key from that and recreate a valid signature and replace your transaction with a higher-fee (frontrun you).

Considering Bitcoin has a 10-minute block time, this becomes a problem.

At-rest attacks

This form of attack makes any public key a target, as dormant wallets with a lot of funds become vulnerable, as the quantum system has an infinite amount of time to attempt to break down the wallet.

This makes the Bitcoin community concerned, considering there are 1.7M BTC that are “presumed lost” that could enter the market again with Shor’s algorithm, making this a possibility.

On-Setup attacks

Attacks on trusted systems, which include layers such as zk-based systems, data availability layers, and privacy protocols. A quantum attacker just needs to break these systems once in order to get the ability to drain systems indefinitely and the ability to forge proofs.

A well-known, trusted system you likely are familiar with is Ethereum L2s and Optimistic bridges that assume transactions are valid by default, while having a 7-day delay for challenging fraudulent transactions.

Thinking this is solely a problem for the Bitcoin community is naive as Ethereum has more attack vectors than Bitcoin.

Systemic risks

Bitcoin has a narrower risk vector, but still very meaningful and needs to be dealt with before 2029 ideally.

Proof-of-work mining in itself is not where the risk lies, but mainly in the form of on-spend and at-rest attacks as mentioned above.

The risk of Ethereum is exponentially higher than that of Bitcoin due to everything built on top of it, due to the existence of smart contracts.

These risks would involve stablecoins being able to be minted infinitely, bridges being drained, and DeFi collapsing as a result of this.

Privacy chains are also very exposed here as they face the possibility of anonymity and historical transactions being completely decrypted, breaking the commitment that people have assumed by using these blockchains.

Blockchains with native post-quantum cryptography built in are immune, which is why tokens such as QRL (Quantum Resistant Ledger) are rallying today (don’t fomo as liquidity is horrible).

What does the future hold?

Now, I’m not here to fearmonger you about the imminent looming death or threat of the industry. However, it is just something to consider, as these blockchains will have to take imminent steps in order to protect themselves from this risk and become quantum-secure by 2029 at the latest, as it currently stands.

However, it is not as easy as just upgrading the blockchains to post-quantum cryptography, as it will require heavy and costly resources.

It also requires a lot of coordination, which arguably puts Ethereum in a better position to handle it as it currently stands, as they have already taken steps to become quantum-secure and are spearheaded by the Ethereum Foundation, which makes it easier to coordinate than Bitcoin’s decentralized coordination system, which is more resistant to change and slower.

The market has been pricing the quantum risk at effectively zero, and that might change over the coming years as we are getting closer to the dates and how the development of respective chains shapes up as well.

Nonetheless, don’t overindex on long-tail risks due to us being in a bear market. However, one of the biggest required upgrades for all the chains will take place in the coming years and likely filter out all the bad weed that won’t spend the resources to perform the necessary upgrade.

The slate will be clearer when this is all said and done.

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Alts have been in a structural bear market for the better part of 5 years as they haven’t reached their heights in 2021 and have topped ever since.

This problem has been exacerbated by Pump Fun creating thousands of tokens continuously, which is dispersing liquidity and capping ceilings across the board.

Anyone who has been following me for any period is aware that I have been parroting this for a very long time.

However, there is another side of the story that the market is laying the groundwork for as we speak.

One where a handful of genuinely dominant protocols capture an outsized share of capital, mindshare, and value creation. For investors capable of thinking in second-order effects rather than simply anchoring to the misery of the last few years, this is where the real opportunity will emerge.

In today’s post, we are going to look at the harsh reality of altcoins, why most of the market is still misunderstanding the setup, and why a small number of exceptional protocols could end up going far higher than most people can imagine.

The Harsh Reality of Altcoins

The sentiment around altcoins nowadays might be perceived as dark but one thing it can’t be labeled as is irrational. It’s arguably the natural consequence of what the market has been serving people for the better part of 5 years.

Since 2021, this is the soup that has been served:

• Lack of genuine innovation since the emergence of DeFi, across large parts of the market, with few outliers

• Declining confidence in the crypto industry as a serious technological sector, with the emergence of AI as another option

• Increased focus on short-term speculation in the form of memes over long-term building, which discourages developers.

• A market that continues to issue new tokens, which causes dilution, has been exacerbated by the emergence of Pump Fun.

The industry has been labeled unserious and has allowed itself to be defined by it. It’s frankly tragic when one of the biggest crypto headlines revolves around Trump coin as one of the biggest moments of the industry.

Blatant insider trading by crypto-native teams on Polymarket reinforces the view that the industry isn’t being taken seriously.

I don’t blame the frustrated people. However, it is also causing a great cleanse and a cut-throat filtering system, which causes capital to become selective.

The capital speaks for itself and tells you where it wants to go.

Considering you’re supposed to buy what you think other people will perceive as valuable and not what you think is valuable, that direction is starting to take shape accordingly.

Read more

Trying to trade this market will cause the majority of people to lose their hair due to the headline terrorism that the Trump Administration is subjecting us to, while there is blatant insider trading taking place as well. It’s not an easy environment to navigate in, and if you don’t have conviction, you will likely chop yourself to bits while accelerating your aging as well.

Meanwhile, the echo bubble in the Bittensor ecosystem continues to grow stronger, even if it is reaching frothy environments, which is giving us a taste of what we can expect in a bull market with better liquidity environments.

The microtrends in a bear market pave the way for the larger trends in a bull market.

This is why it pays to stay interested in the industry.

Going to keep this one shorter as I’m traveling.

Market Digest

Clarity Act concession: The crypto industry has had to concede to the banks that refused the possibility of passing yields to users who hold stablecoins. The likely reason is that it would be a direct threat to the fractional-reserve banking system and unsettle the financial industry. Dread it, run from it, destiny still arrives, you bankers.

Tempo introduces MPP: Tempo launches a direct competitor to the x402 payment protocol called Machine Payments Protocol (MPP) and is designed to be payment-method agnostic, by supporting stablecoins, cards, etc.

Resolv gets exploited: $80M worth of USR was minted from $100K, causing a liquidity cascade and the stablecoin falling by 95% while Curve LPs suffered $18M in losses providing liquidity for the exploiter. $77M has been redeemed so far for affected users, which is the positive part.

Bitcoin miners selling BTC: Bitcoin miner MARA has sold $1B worth of BTC to fund the purchases of convertible notes. They still have $2.5B left, but we need to get this sell-pressure out of the way to the bottom so I see this as a good thing and expect more of it from miners throughout the bear market. MARA still has $2.5B worth of BTC left to sell.

Bridge Flow

Hyperliquid continues to dominate inflows of the majority of chains as trade demand isn’t slowing down with commodities trading like crypto nowadays. Polygon is basically Polymarket at this stage and the protocol made an announcement of an announcement recently which likely is related to them moving to their own chain as there is no need for them to pay chain costs on Polygon anymore when they can own the whole stack. I could be wrong here so don’t shoot the messenger.

Bittensor is not featured here but it’s definitely sucking capital as well.

DEX Trading

AERO and VIRTUAL (underlying ecosystem) are doing the majority of the volume as usual, although it is interesting how much volume USDS has been doing on Base as people are seeking that stablecoin yield after the Resolv fallout.

On Solana, Fartcoin and pippin leaves the podium from last week as JTO and RENDER enter the most traded tokens over the past week. Render is a response to Bittensor doing so well and on-chain participants on Solana finding the nearest “beta” that is alive on their chain. People never learn.

Net Inflow

Stablecoin yield is still driving the majority of the interest on mainnet, and being conservative wins considering what took place with Resolv as well. LINK is receiving some bids as tokenization has been talked about again. While people are bidding wrapped TAO on Ethereum to get exposure to the frothy rally.

Base ecosystem is basically AERO, VIRTUAL and VVV for people that like concentrated plays. Holding those with conviction likely outperforms the majority of predatory PvP the low caps are subjected to. Entries do matter though.

Solana on-chain has been very dry, with CHIBI being among the only notable things that have pumped and dumped to any meaningful value over the past week, which has ended down 90% in a quick fashion.

The analysis of the on-chain activity of the ecosystem is quite tragic which you can see in the next section.

Sleuthing

This is the current activity of the Solana on-chain ecosystem while people are telling people to keep trading “the trenches”. The odds are heavily against you, and you are better off concentrating your capital in a new arena (Bittensor subnets) where people believe the ecosystem can do well, or when liquidity conditions change for the better.

The latest pump-and-dump on Captcha is another reminder.

Relevant Token Unlocks

• JUP - 1.53% of supply worth $8.04M Today

• ZORA - 3.75% of supply worth $2.61M on March 30th

• EIGEN - 6.3% of supply worth $7.69M on Apr 1st

• SUI - 1.42% of supply worth $51.25M on Apr 2nd

Expect sellers of last resort to continue to appear as Bitcoin mining has nto been profitable for a long time, these sells will continue to offset the Saylor STRC purchases. Worth considering that the closer we get to them being out of BTC, the closer we are to the bottom as people will start to frontrun when sales have less of an impact.

Alright, that is as good as it gets back to the beach. Next week will be back to normal.

I hope you enjoyed the post. Don’t forget that you are more than welcome to leave feedback or drop any questions in the comment section.

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• Institutional-level weekly reports of protocols and crypto-related equities

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• Bypass the complexities of crypto tax calculations effortlessly with the best-in-class tax calculator app – quick, precise, and at your fingertips here.

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  Disclaimer: All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing on the site constitutes professional and/or financial advice, nor does any information on the site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. I am just sharing my opinion. This post may contain affiliate links.