(1/12) Some thoughts on crypto, since it’s been a while. Been sidelined since exiting ~95k after catching the bottom at 77k. Kinda annoying. But that’s markets. Sitting out is still a position.

(6/12) Narratives seem hyper-fragile right now. Rotate fast. Get in, get out. Most of these alts aren’t multi-year holds. This cycle has been memetic warfare, not fundamentals.

(7/12) On that note: most verticals have crowned their winners. Prediction markets? Polymarket won. DEXes? Hyperliquid is the final boss. L1s? Let's not go there 😅. Betting on the clones hasn't really worked well.