BITCOIN: $80,000 in the Mirror as the Debasement Trade Returns (no chart)
BTC sat at $79,700, up 1.5%, and hit $80,000 live on air before pulling back to 79.29 — the crew read the strength as bullish after a week of 'bear market PTSD' calls for lower. ETH climbed with it to roughly $2,500, HYPE added another percent to $82.79, and BlackRock's digital-assets head said the debasement trade is coming back on rising US debt and fiscal deficits — a narrative D noted 'never went away.' ETFs kept absorbing supply: $232M into BTC and $192M into ETH yesterday.
NVIDIA: An Ethereum's Worth of Value in One Morning (no chart)
Nvidia smashed earnings — $96B in revenue, up 100% year over year and well above consensus, with data centers the engine and EPS of 2.22 versus 2.09 expected — then dumped on the print before regaining it all. The crew's favorite stat: after the smash, Nvidia added roughly $350 billion in market cap in the morning session, about the entire market cap of Ethereum. Q3 guidance of $108B means the company is making more than a billion dollars a day.
SOLANA: SGP-002 Disinflation Heads to Passage (no chart)
SOL ran to $106, and the big catalyst is a vote on SGP-002, which effectively doubles Solana's disinflation — roughly 1.5 billion fewer SOL issued over the next six years, or about $200 million less selling pressure every year. Quorum has been reached and it looks set to pass despite early expectations it wouldn't. Charles Schwab added trading for SOL, AVAX, and LINK; DFDV launched its 'State of Solana' dashboard and quietly started buying SOL again. D's levels: $120 by Friday (a call he made Monday), then $148 — 'after that we don't need charts.'
SOLANA OR THE BASKET? ANSEM, PUMP, PENGU, FARTCOIN
Asked whether he'd rather own Solana or an equal basket of ANSEM, PUMP, PENGU, and FARTCOIN, D took the basket: ANSEM sits at 2X off the lows on a 'beautiful mega cup,' PENGU is back at roughly a penny about 65% of the way off its lows, and PUMP is near $0.49 with more than a million dollars a day in buybacks and revenue at a fresh local high of $2.72M yesterday. FARTCOIN (as-transcribed 'Farquana') held around $210M market cap. 'Why would it stop at a penny?' was the consensus on PENGU.
OLD-CYCLE MEMES: Zoran's SPX Call
Zoran Cole's unpopular opinion: SPX (as-transcribed 'SBX') will be the first meme coin from last cycle to pass its previous high. The crew worked through the field — Pepe at roughly $210M market cap is about 25X below its all-time high, FARTCOIN similar territory around 15X off — with BONK, TRUMP, and the rest still far underwater. D agreed with the call but has no SPX and doesn't plan to add: 'There's less competition for 2024-cycle memes on ETH compared to Solana.'
THE ONC BAG: CASHCAT, PONS, AI DOG (no chart)
Robinhood Chain's leaders printed another blockbuster Asia-open: CASHCAT hit a new all-time high at $250M before settling back to 250 again, PONS pushed past $100M (touching $130M as-transcribed), and AI DOG kept ripping to $64M, up 80% yesterday — the 'most painful one' for D, who was in at $10M. Insomniac's 'onc bag' — NAGALAI, INSOM, CASHCAT, PONS — is the crew's framework: 'everything else is beta to those right now.' Also in the mix: INDEX at a new all-time high, +35% in ten days, JUGGERNAUT running after Bonk Guy's call, and SCOTTY doing zero to $15M in two hours.
ZCASH: Textbook Breakout, and VVV's Quiet Run
Zcash bounced exactly on the $750 and $700 levels the crew had marked — 'textbook' — with the orchard-pool migration at 86.6% and 90-95% flagged as the next catalyst. D is 'comfy, comfy in ZEC' as a cycle play, calling it the most 'onc' way to hold bleeding alts. Meanwhile VVV, 'probably the best token we're not really talking about anymore,' kept climbing to $18.30, up 17%.
STONKBROKER'S NEW ATH AND FWA'S LONGITUDE DAY (no chart)
STONKBROKER hit a new all-time high after adding collectibles-paired coins — the tokenized Pokemon pairing ran briefly, revenue crossed $1M, and Tyler, who called $20 on pump.fun, raised his target to 30-40. The caveat: the top token is still only $2.3M, and 'we really haven't had any sustained runners.' FWA faces its Longitude test today — 1,000 NFTs from Sterling Crispin going live about 90 minutes after the show — with D less comfy near-term: 'if Longitude isn't a huge success, I think this goes down.' On the NFT board, ACK Argonauts kept running to a 0.34 floor (they sold out in five minutes, 1,600 ETH of secondary volume), Pudgy Penguins rebounded 15%, and STONKBROKER NFTs bounced back to 6 from 4-5.