Tokenized RWAs just hit $34B in June. 10 straight months of new highs. But only $3.1B is actually being used in DeFi. The RWA market is growing, but the DeFi layer is still being carried by a few products: - @maplefinance's syrupUSDT: 86% in DeFi - @anemoycapital' JAAA - @HastraFi' PRIME: ~80% in DeFi - @SuperstateInc' USCC: ~90% and USTB: ~33% in DeFi Meanwhile, BUIDL has ~$1B in supply and only 1.8% in DeFi. The story won't be about RWAs being onchain, but rather about which RWAs can actually become collateral and liquidity within DeFi.

You want to fix the trenches? Send cult coins higher and farms to 0. Simple as believing, bagworking and topblasting to millions. solana:FamUNkepHXkVxjWHeMSpJmD4xVhCSyNnUG9GVsdmR2xQ

The first wave of tokenization put assets onchain. The next wave will make them productive.

Fundamentally strong protocols will continue to outperform as market conditions continue to improve. $AERO

SOYLANA SUMMER ☀️☀️ $manlet

Crypto Macro Stuff I'm Looking At Today ... - Prices bouncing on Iran peace deal optimism - FOMC Meeting (Fed interest rate decision) on Wednesday... All eyes on Warsh as it is his first meeting as Fed Chair... (again, I think market is underestimating how dovish he will be, but we will see!) - Total crypto market cap at $2.375T... off of recent low of $2.177T... - $ZEC, $TAO, $AERO, $GRASS, $JITO, and $JUP bouncing the highest among top 200 tokens - $ETH now more oversold than any time in its history, including the 2018 and 2022 bear market lows (link below link to more thoughts) - Gold still consolidating sideways/down a bit, currently at $4,319 - Oil now down to $81 (still haven't closed my short though - think we're going significantly lower) - US inflation currently at 1.84% as per Truflation’s real-time inflation tracker - Coinbase will apparently announce a new ‘intelligent financial app’ tomorrow - $TON re-branding to $GRAM taking place today - ExtendedApp will apparently be TGE'ing this month - RE will also apparently be TGE'ing this month - Saw a stat that Kalshi now accounts for 10% of US sports betting market, very interesting if accurate - Wells Fargo apparently filed a trademark for $WFUSD in March, as banks continue flirting with blockchain/stablecoins/etc - Lots of discussion on the TL about the 18,712 Bitcoins that SpaceX owns - SpaceX perps go live on Bybit - Blockworks acquiring Messari news is quite interesting - Apparent $2.1M exploit on ThetaNuts, though it appears most of it was whitehatted(?) - $EIGEN (yes $EIGEN) is apparently executing a very interesting pivot (link below to more info) - Ventuals is apparently shutting down - An AI-native predictions market called InsightXHQ just launched - Aerodrome is apparently launching a new 'Predictive Allocation' mechanism that "rewards participants for anticipating future liquidity demand" - Am starting to see new protocols popping up that are built on Circle's new 'Arc' chain - a couple NFT marketplaces and some other stuff - Top 10 perps dex's by OI (open interest) as of today (as per the legends at DefiLlama) are 1) Hyperliquid, 2) Aster, 3) Variational, 4) Lighter, 5) EdgeX, 6) Grvt, 7) Antarctic, 8) GMTrade, 9) Ostium, and 10) Extended Conclusion Interesting times lads! That is everything I'm looking at! What did I miss?? And are we now past the bear market lows or do we have more pain in store?!? And how're you doing this fine Monday? Did you watch the fights last night? What did you think?!? Hit me up below and keep putting in those reps my bros!!! 💪💪💪

Yields are telling you where capital wants to go. → APYUSD @pendle_fi 36.0% APY → SUSDAT @saturn_credit 28.2% APY → USDS @yearnfi 22.7% APY → APXUSD @apyx_fi 14.1% APY → USDC @Morpho 12.0% APY → USDC @avantisfi 9.8% APY The best opportunities right now are coming from the categories likely to lead the next cycle: fixed-rate markets, credit, vaults, and lending.

The most undervalued RWA narrative isn't TBills or Metals. It's Pokémon cards.

Do the SOYLANA MANLETS have that dog in them again?

Manlets in control?

TLDR: Apyx just went through the first real stress test for dividend-backed stablecoins. - apxUSD traded as low as $0.90, STRC saw its largest decline from par, and the protocol processed a wave of redemptions while remaining solvent. - Apyx 2.0 makes the redemption framework much clearer by separating Redemption Value from Total Collateral Value. - Redemption Value is the price users mint and redeem against. Total Collateral Value is the full reserve, including the overcollateralization buffer. - That distinction matters because the buffer is supposed to strengthen the system over time, especially during drawdowns. The June stress test showed why SET rules matter, and Apyx is now codifying those rules in public. I think this is a healthy step for a completely new category. Yield-bearing stablecoins are going through a similar process every serious DeFi primitive had to go through. Bullish on protocols that survive early stress, they usually come out stronger.

What soylana manlets been through for the last 5 years - Being called a database server because it shuts down all the time - FTX liquidation. From $250 to $8. Every projects migrated to eth - "casino scam chain" And yet we are still here. Manlets rise.

Solana's apps are moving before $SOL does. Jupiter's aggregator volume is up 238% over the past 30 days. Orca's DEX volume is up 20%. Most of CT is still waiting for “Solana season,” but the infra layers are already waking up. Here’s why they’ve gone higher: - Jupiter did $18.3B in aggregator volume over the last 30 days and remains the default routing layer for Solana swaps - Orca is gaining share while a lot of DEX activity elsewhere is flat or down - $PUMP still generated $26.4M in fees in a boring market - @Raydium did $4.3B in DEX volume and remains the default listing venue for new Solana tokens None of this looks like peak-cycle activity. Here’s why it goes higher: - A real Solana szn sends more flow through Jupiter - More token launches mean more volume for Raydium - More speculation means more activity through $PUMP - Orca is still under the radar despite growing volume and fee capture The valuation for these tokens is the most interesting part. $PUMP trades $537M mcap with a $316M annualized fee run rate. $ORCA trades at $70 M mcap with a $41M annualized fee run rate. $ORCA to $6.75 is a $411M mcap coin. That is only 10x its annualized fee run rate. The same re-rate scenario puts $JUP around $0.59. Everyone is waiting for $SOL to move, yet the apps are already moving.

Now that the US-Iran War is over, I would be looking at protocols with big 30-day drawdowns that have already reversed over the past week. Some names that are still compressed, recovering with strong fundamentals: - $AERO 15% on the week, still down 22% for the month - $ETHFI 14% on the week, -26% for the month - $JUP 15% on the week, -22% for the month - $AAVE 12% on the week, -30% for the month - $SYRUP 8% on the week, -40% for the month - $PENDLE 13% on the week, -32% for the month The bids were already underway; the peace agreement simply poured fuel on their recovery. The highest conviction plays are the ones already rising with real fee generation and cheap valuations; those will be the first to revert back green.

Strategy has acquired 1,587 BTC for $100 million to increase our $BTC Reserve to ₿846,842. We have also increased our USD Reserve by $100 million to $1.1 billion. $MSTR $STRC strategy.com/press/strategy-…

This is what we do to bears.