Basher retweeted
tokenizing slides is easy.
tokenizing Wall Street's capital flow is a different game.
only one player is actually doing the second one.
7 theses on ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3
1. i'm not buying the "RWA narrative."
i'm buying the only player that already wired licenses, custody, DTCC, FINRA and BlackRock into one pipe.
everyone else tokenizes slides.
ondo tokenizes capital flow.
2. @BlackRock Intelligent Portfolios on ondo isn't a partnership press release.
it's the moment TradFi stops "experimenting" and starts handing out its own strategies as onchain tokens.
whoever holds the rails when that happens takes the share.
3. ~$3.5B AUM and tens of millions in annual fees at zero token incentives.
4. 60%+ of tokenized stocks, in a market still tiny next to the $2–8T Citi/McKinsey pencil in for 2030.
that's an option on the category, not a bet on one fund.
if tokenized stocks and portfolios become normal, ondo already sits on the funnel.
5. in-kind conversion of stocks into tokens is the underrated piece.
institutions don't have to bring fresh cash.
they mint from what's already in custody.
that removes the main friction between TradFi and onchain.
6. if the @Ondo turns on buyback/burn, or ONDO becomes required in the network/staking, the re-rate is violent.
because right now the multiple barely pays for the cashflow.
7. my bet isn't "ONDO $2 tomorrow."
my bet: RWA becomes one of the core institutional stories of this cycle, ondo stays a category leader, and the token either gets economics or the market starts pricing that option before anyone flips the switch.
holding zero in the category leader at the start of Wall Street's migration onchain looks worse to me than sitting at a discount to ATH while AUM keeps climbing.
tokenizing slides is easy.
tokenizing Wall Street's capital flow is a different game.
only one player is actually doing the second one.
7 theses on ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3
1. i'm not buying the "RWA narrative."
i'm buying the only player that already wired licenses, custody, DTCC, FINRA and BlackRock into one pipe.
everyone else tokenizes slides.
ondo tokenizes capital flow.
2. @BlackRock Intelligent Portfolios on ondo isn't a partnership press release.
it's the moment TradFi stops "experimenting" and starts handing out its own strategies as onchain tokens.
whoever holds the rails when that happens takes the share.
3. ~$3.5B AUM and tens of millions in annual fees at zero token incentives.
4. 60%+ of tokenized stocks, in a market still tiny next to the $2–8T Citi/McKinsey pencil in for 2030.
that's an option on the category, not a bet on one fund.
if tokenized stocks and portfolios become normal, ondo already sits on the funnel.
5. in-kind conversion of stocks into tokens is the underrated piece.
institutions don't have to bring fresh cash.
they mint from what's already in custody.
that removes the main friction between TradFi and onchain.
6. if the @Ondo turns on buyback/burn, or ONDO becomes required in the network/staking, the re-rate is violent.
because right now the multiple barely pays for the cashflow.
7. my bet isn't "ONDO $2 tomorrow."
my bet: RWA becomes one of the core institutional stories of this cycle, ondo stays a category leader, and the token either gets economics or the market starts pricing that option before anyone flips the switch.
holding zero in the category leader at the start of Wall Street's migration onchain looks worse to me than sitting at a discount to ATH while AUM keeps climbing.
privacy just became the best trade of 2026
the crowd sees a pump.
What I see: in a world where every government watches every wallet, people are buying financial privacy as insurance.
a new bitcoin? too early to call.
Basher retweeted
Pudgy is winning offline. solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv is not.
That gap is the whole story.
what the brand actually is:
Shelf space in Walmart and Target, thousands of doors, millions of units, TCG, plushies, comics, a Visa card.
A real consumer moat, which crypto almost never gets.
where the money goes:
Into @IglooInc and the licensing partners.
Not to holders.
No revenue share, no buybacks, no dividends.
The docs literally frame the token as entertainment and social currency.
The market read that page a long time ago: toys sell, NFT floor can run, solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv sits still.
the supply side:
→ Team + Company ≈ 29%, 1 year cliff (Dec 2025), linear vesting into 2028. Monthly offer, every month, on schedule.
→ One unlock of ~712M tokens printed a ~14% red day.
→ A recent ~$4–5M unlock landed right next to the comic release. Timing is still the weirdest part.
→ ~50% of supply went out at launch to Pudgy and other NFT/Web3 communities. Day one ATH, then sell the news. Classic.
the demand side:
Utility is blurry.
Games, "social currency", a bit of gamification.
@PlayPudgyParty got shut down with 1M downloads behind it.
@PudgyWorld_ still isn't the magnet.
And there is no sink at all: no locked staking, no mandatory payments, no burn tied to product sales.
the attention problem:
@cookie3 data: since March, ~54% of PENGU conversation is ticker and price, only ~4% is toys and retail.
The brand grows offline.
The crypto narrative lives in its own universe and runs out of air fast.
the ETF that wasn't:
Canary filed 80–95% PENGU + 5–15% NFT.
Pumps on the filing, pumps on the SEC acknowledgement.
Then the related 19b-4 got pulled in January 2026.
Institutional anchor, gone.
what would actually flip my take:
Revenue touching the token. Buybacks, burn, or revshare from toys, TCG and the card. This is the one that matters. Everything else is noise until then.
The @Visa Pengu Card doing real volume, with people holding and spending PENGU. That's utility demand instead of pure speculation.
Retail scale converting. Team targets are ambitious, tens to hundreds of millions on the horizon, IPO talk by 2027. Big if it lands.
Institutional product 2.0. Another ETF attempt or a different wrapper. Rumors alone used to be worth 20–30%.
@PudgyWorld_ finally working. One live product with onchain economics beats ten ecosystem announcements.
Macro plus meme season. solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv has already proven it can move fast in alt rotations, and the low nominal price is retail-friendly.
The calendar. @pudgypenguins night at @token2049 on Oct 7, plus any serious sport/media/retail collab.
This isn't a bad brand.
It's a good brand with a token that has no claim on it.
Two separate universes, one shared logo.
Until one line of product revenue routes back into the token, what comes next is not exactly hard to guess.
Pudgy is winning offline. solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv is not.
That gap is the whole story.
what the brand actually is:
Shelf space in Walmart and Target, thousands of doors, millions of units, TCG, plushies, comics, a Visa card.
A real consumer moat, which crypto almost never gets.
where the money goes:
Into @IglooInc and the licensing partners.
Not to holders.
No revenue share, no buybacks, no dividends.
The docs literally frame the token as entertainment and social currency.
The market read that page a long time ago: toys sell, NFT floor can run, solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv sits still.
the supply side:
→ Team + Company ≈ 29%, 1 year cliff (Dec 2025), linear vesting into 2028. Monthly offer, every month, on schedule.
→ One unlock of ~712M tokens printed a ~14% red day.
→ A recent ~$4–5M unlock landed right next to the comic release. Timing is still the weirdest part.
→ ~50% of supply went out at launch to Pudgy and other NFT/Web3 communities. Day one ATH, then sell the news. Classic.
the demand side:
Utility is blurry.
Games, "social currency", a bit of gamification.
@PlayPudgyParty got shut down with 1M downloads behind it.
@PudgyWorld_ still isn't the magnet.
And there is no sink at all: no locked staking, no mandatory payments, no burn tied to product sales.
the attention problem:
@cookie3 data: since March, ~54% of PENGU conversation is ticker and price, only ~4% is toys and retail.
The brand grows offline.
The crypto narrative lives in its own universe and runs out of air fast.
the ETF that wasn't:
Canary filed 80–95% PENGU + 5–15% NFT.
Pumps on the filing, pumps on the SEC acknowledgement.
Then the related 19b-4 got pulled in January 2026.
Institutional anchor, gone.
what would actually flip my take:
Revenue touching the token. Buybacks, burn, or revshare from toys, TCG and the card. This is the one that matters. Everything else is noise until then.
The @Visa Pengu Card doing real volume, with people holding and spending PENGU. That's utility demand instead of pure speculation.
Retail scale converting. Team targets are ambitious, tens to hundreds of millions on the horizon, IPO talk by 2027. Big if it lands.
Institutional product 2.0. Another ETF attempt or a different wrapper. Rumors alone used to be worth 20–30%.
@PudgyWorld_ finally working. One live product with onchain economics beats ten ecosystem announcements.
Macro plus meme season. solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv has already proven it can move fast in alt rotations, and the low nominal price is retail-friendly.
The calendar. @pudgypenguins night at @token2049 on Oct 7, plus any serious sport/media/retail collab.
This isn't a bad brand.
It's a good brand with a token that has no claim on it.
Two separate universes, one shared logo.
Until one line of product revenue routes back into the token, what comes next is not exactly hard to guess.
NEAR did +45% in three days. Most people think it's beta. It isn't.
$2.34 → $3.45–3.77.
Strongest move since early 2025, and it outran the market.
Here's what actually happened.
On September 17, @NEARProtocol made perps confidential by default.
Execution runs on @HyperliquidX . Size, direction and funding stay hidden.
50+ markets, up to 40x, from one NEAR account.
On public venues, big wallets leak their strategy to everyone watching.
Hyperliquid liquidity plus privacy is a combo nobody else sells.
That's the trigger. The engine is Intents.
You state the outcome. Solvers find the route.
35+ chains, 150+ assets, no bridges, no gas juggling.
$29–30B all-time. $3.48B in 30 days. $232M+ in the last 24 hours.
And the volume pays.
$5.0–5.5M gross fees in 30 days, $1.6–1.75M net.
Part of it goes into open-market NEAR buybacks.
Fee capture went from near-zero to about 30% in a few months.
Inflation is down to 2.5%. On heavy days the network is already net deflationary.
Now the part most people skip.
Confidential TVL crossed $70M and fired the NEAR 3.33 snapshot.
333,333 tokens went out, but they unlock only if the 3-day VWAP holds $3.33.
So recipients have a reason to defend $3.33.
Once the tokens unlock, that same level turns into sell-side supply.
The level acts as support first and resistance second.
Open interest also grew faster than price.
Leverage stacked on an incentive level is where a move can snap back fast.
My take:
The spike came from perps and the $3.33 campaign.
The re-rating comes from Intents, fees and buybacks.
Privacy and AI agents are the multiplier, and the market hasn't priced that part yet.
near:native stopped competing for blockspace.
It's becoming the private execution layer that sits on top of everyone else's liquidity.
I was one of the first people to start exposing what was really happening inside ZSC, and every single day more and more details keep coming to light.
The pattern is becoming impossible to ignore. More former members, creators, and people who worked behind the scenes are speaking up, and their stories point to the same systemic issues: lack of transparency, broken promises, favoritism, and misuse of community resources.
This isn't about personal drama anymore. It's about protecting creators, brands, and the wider Polymarket community from a system that many people experienced firsthand. @williamlegate🤡
The more people come forward, the clearer the full picture becomes
a16z mentioned Zcash on a podcast tied to their $2.2B crypto fund raise.
Next day: zcash:native +58%.
In a world where AI sees everything, privacy becomes the ultimate competitive edge.
Did Durov resurrect TON… or just hype the crowd before a dump?
Yesterday’s Durov announcement wasn’t just a tweet:“Fees in TON have dropped 6× to nearly zero.
Next step - Telegram replaces the TON Foundation as the driving force behind TON and becomes its largest validator.
the-open-network:native +30%
dogs-2:native +109.60%
notcoin:native +19.76%
utya:native +19.19%
On one hand this looks like a real resurrection. Telegram, with its billion users, is taking full control of the blockchain. No more “community vs Telegram” now it’s one single powerful machine.
On the other hand classic news driven pump. Durov has “revived” TON more than once, only for silence to follow. The crowd rushes in, someone cashes out.
I personally don’t think it’s a dump setup. This feels like a strategic move: Telegram wants to turn TON into its built-in DeFi and mini-app hub.
Pacifica token by 2026?
June → 12%
September → 3%
December → 62%
Projects don’t rush tokens anymore. Regulation + market conditions = delay until narrative is right. If Pacifica is building user base they will stretch this phase as long as possible.
My take on @opinionlabsxyz : December YES is the only play that makes sense.
🤝 Paid partnership
Nvidia makes trillions - You pay more for hardware and scroll through AI slop
Nvidia hits a $5.25T market cap and becomes the most expensive company ever.
GPU prices went crazy in recent years
RTX 4090 launched at ~$1,600 → peaked around $2,000-$3,000+
internet is flooded with AI slop content
Low effort generations, clones, spam.
just claimed my FRAME Score on @frameonx
neural-verified influence, no bullshit metrics
think yours is higher? prove it: waitlist.frameonx.xyz/?ref=0…
He bought a JPEG for $180K… now it's worth $12K
Steph Curry bought into BAYC in August 2021.
• Entry: 55 ETH = $180,000 BAYC
• peak floor: 153 ETH (April 2022)
• Now: ~$12,000 (-93%)
Even champions buy at the top.
2x rewards on ALL esports markets on @opinionlabsxyz
live for the next 2 weeks (until Apr 30, 00:00 UTC)
more volume = more upside
and now your bets hit twice as hard
JDG vs NIP → JDG wins
99.9% isn’t a prediction, it’s basically a statement
for farm :D
🤝 Paid partnership
Basher retweeted
Alpha Points for this week have been distributed. Check your balance.
🔸Starting now: 2x Rewards Multiplier on all Esports Markets — running for two weeks until Apr 30, 00:00 UTC.
League of Legends. Honor of Kings. Every match, every map, every moment counts double.
Get in early → app.opinion.trade/trending?t…
gm ct
S&P500 is breaking ATH, while crypto is just… standing still.
Markets have changed. Cycles don’t work the same anymore. Right now, geopolitics is driving everything.
Trump and his team keep draining liquidity from crypto with WLFI moves.
But every black phase ends and the white one usually starts when no one expects it.
