Heisenberg 🫎

@ZordXBT Bro why u don't share videos on discord and never reply on discord I started with 1500 dollar now I have left 800 dollar and I am leaving your copy trade thanks for the lose because of ur arrogance I have

Discord Open for 24 Hours : ⚡️discord.gg/ZZ5wk3xB Link will expire after it. Join and be a part of it. What is inside? 1) Daily Video Analysis Starting from today itself.. 2) If you trade on Blofin using my link, you get inside Blofin VIP access on Discord. 3) Trades taken are shared their with ETH analysis & Macro outlook and chat options. Discord opens 1 time only in a Month. .

@FefeDemeny Still short from 79k believing 60k coming very fast in upcoming weeks

Final countdown

@TomCryptoDefi @variational_io How many points u get for how many volume

Variational Points Update +89.9 Points Looks like an average week on Variational for me. All positions are delta-neutral and still generated some profit (+$400), so my points are completely free. The best part is the increasing expected valuation for @variational_io points. According to Aspecta and Polymarket, we are already around a $500M FDV, which with a 25% airdrop allocation would imply roughly ~$17 per point. We are not early anymore, but Variational is definitely still a great opportunity. You can get a 12% points boost using my code: 🎟️OMNITOMDEFI

The market is pricing @EtherFi as a restaking protocol. The revenue mix stopped being that in December. $ETHFI - Cash card revenue surpassed staking as the primary income source in December 2025 - $2M/day in card spend, with 70K active cards, doubling every two months. - P/F ratio: 1.97x vs Ethena: 200x - $247M in trailing 12-month fees on a $388M market cap - Buyback program verified on-chain with 6 distributions to sETHFI stakers since Nov 2024. $2.5M deployed in March 2026, funded by 30% of monthly revenue + $50M treasury allocation. - TVL is down 44% from peak, but fee generation is not following. - $ETHFI -94.6% from ATH at $0.46 Payment protocols command fintech multiples. Restaking protocols get 2x fees. The re-rating has not happened yet.

*CHALLENGE UPDATES* ✅500k-5m-> 2.8m in 5 weeks ✅100k-1m-> 10k profit day 1 I don’t mind the hate, doing all transparent, wins and losses. Will remain to hold and DCA. 10% of the table here. $btc

@KillaXBT No way

Do people really think we’re going to V-shape recover out of a bear market without any prolonged chop or range bound price action? Just look at how parabolic the S&P 500 has become. Do you seriously think $BTC is going to keep outperforming once that momentum finally stops? I don’t think so.

next time you wonder why your favorite perp DEX still hasn’t done a TGE… just look at how much they made from maker/taker fees (April data) @HyperliquidX - 58.77m (0.015% / 0.045%) @edgeX_exchange - 14.33m (0.018% / 0.038%) @Aster_DEX - 6.26m (0% / 0.04%) @Ostium - 3m (Opening Fee 0.05%) @Lighter_xyz - 2.81m (Premium Accounts 0.028% / 0.004%) @GMX_IO - 2.3m (0.04% or 0.06%) @extendedapp - 2.12m (0% / 0.025%) @SoSoValue - 1.52m (no data) @nadoHQ - 1.49m (0.01% / 0.035%) @Antarctic_Ex - 1.45m (0.02% / 0.05%) @avantisfi - 981k (0.45%) @OfficialApeXdex - 317k (0.02% / 0.05%) @DecibelTrade - 278k (0.011% / 0.034%) @dYdX - 267k (0.01% / 0.05%) @etherealdex DEX - 163k (0% / 0.03%) @reya_xyz - 128k (no data) branxi.app

$AKT 0.63 - 0.54 looks nice let's see

The perpDEX sector has 6-7 protocols fighting over the same orderbook market and @variational_io is the 7th fighting on completely different ground. Hyperliquid leads the orderbook race with $176B in monthly volume. While Aster, Lighter are all competing on the same axis underneath it i.e faster execution, tighter spreads, more listings. Variational isn't in that race because it doesn't use an orderbook at all. Its model is called RFQ (Request for Quote). The protocol runs its own MM called the OLP, which quotes every trade and hedges it across Binance, Bybit and OKX in real time. There's no public orderbook and no need for 3rd party LPs. What this opens is 👇 ➥ 450+ markets Most perpDEXes can only list 50-150 perps because each market needs LPs willing to make two-sided quotes. Variational doesn't have that constraint, so it can list any asset that trades on a major CEX. ➥ Institutional flow Variational also runs a Pro desk for OTC block trades, where multiple market makers compete to fill large orders that an orderbook can't absorb without slippage. This is a customer base (like funds, prop desks, professional traders moving size) that Hyperliquid and Lighter don't target. They built this product because they ran the exact workflow at Genesis trading before going onchain. Here's where it stands today: ‣ $16B in 30-day volume ‣ $800M+ in OI ‣ ~$105M in settlement pool TVL ‣ May is averaging $543M/day, slightly above April's pace, which shows the pre-TGE volume floor is forming rather than continuing to decay Note Variational doesn't charge a protocol fee. Revenue flows through the OLP's bid-ask spread on every trade. ➢ At an estimated 1 bps spread on $15B monthly volume (1 bps = $1 of spread per $10K traded), that's roughly $18M in annualized gross revenue ➢ If protocol treasury takes 20% of that ($3.6M/year) and tokenomics route 30% of treasury revenue into $VAR buybacks (~$1.1M/year at current volume) It still looks small because it is. Here the trade isn't current revenue, it's the post-TGE scaling. If volume runs $20B/month at 1.5 bps (a realistic assumption if Pro desk institutional flow converts), gross revenue goes to $36M/year. 1. Treasury revenue will be ~$7.2M 2. Annual buybacks will be ~$2.2M 3. Buyback yield at $300M FDV would be ~0.7%. At $800M FDV: ~0.3% For context Lighter does $40B monthly at $33M annualized fees on a ~$2.7B TGE FDV. That's roughly 80x P/F. Variational at $800M FDV with $18M annualized spread revenue is ~44x P/F. Which makes it cheaper on entry, with more revenue vectors above. Rn Variational does $16B in monthly volume on $11.8M raised. Lighter does $40B on $89M. That's 3x more productive on a fraction of the funding. Still pre-TGE. The airdrop will be the entry point. The architecture and the revenue scaling are why the seat may keep compounding after the airdrop is paid. h/t to @DefiLlama @EntropyAdvisors for the data

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papertrade is actually more interesting than the "gmx v1" comparison its getting the gmx v1 part is right: LP is the sole counterparty to every trade and the pool wins when traders lose but the design diverges from there the LP starts at $0. the pool doesn't exist until the first trader loses money, which already makes the early drain risk more acute than anything GLP faced at launch in gmx v1, GLP holders deposited upfront and earned fees for taking on the LP risk here there's no LP depositor and the only way to get exposure is through PAPER, which mints to losing traders so the liquidity provider and the losing trader are the same person insolvency works differently too in gmx v1 if the pool ran dry that was just a problem. here, unpaid profits from winning trades go into a FIFO queue and pay out automatically as future losers refill the pool your margin always comes back instantly, only profits get delayed and PAPER mints fastest when the LP is underwater. the protocol is explicitly paying you most to trade against a depleted pool because that's exactly the behavior that refills it there's no funding cost either because no actual perpetual contracts change hands - it's a synthetic swap interesting experiment and i'll be following it closely

$ZRO, the LayerZero governance token, sits at a $359M market cap. It accrues value from a protocol that generated $157K in fees over the past 30D, with $1.89M annualized. ZRO is priced at 190x P/F. near:native is doing $2.91M over the same 30D, annualized to $35M. At a $2.07B market cap, near:native trades at 59x P/F on bridge fees alone. The market is applying a 3x lower fee multiple to NEAR despite NEAR Intents generating 18.5x more in fees. Clear disconnect here imo.

GenLayer New Task: Earn 1000-5000 XP (Free) A new community contribution task is now live on @GenLayer, and this one can get you up to 5,000 XP. Ends in 6 days. ✅ Here’s how to do it: 1. Go to FUD: fud.markets 2. Sign in using your preferred method 3. A new wallet address will be created during signup 4. Copy that wallet address and head to the faucet page: faucet.circle.com 5. Select Base Sepolia and claim 20 USDC testnet Now go back to FUD, and the transaction prompt should appear automatically. Complete it, and you’re in. After that, simply pick any coin and open a long or short position with any amount. Then take a screenshot of your position and quote tweet this post (x.com/FUDmarkets/sta…) with a post built around at least one of these angles: - Crypto takes have been free for too long - Follow-or-fade culture belongs onchain - Public PnL changes how people talk - If your thesis is real, you should be able to price it Once your quote tweet is live: 1. Go to: portal.genlayer.foundation/?ref=FQJO5W5S 2. Community > Contributions 3. Find “FUD Markets Testnet Special Quest” 4. Submit your X quote tweet link That’s it. Important: Don’t make your post generic. Low-effort submissions won’t get rewards. Read the quest rules carefully before posting so you understand exactly what kind of content they want. Good luck.

@KillaXBT I will long

Sometimes, its a good idea to flip $BTC inverted. Different perception. Do you see any major players building long positions here, or do you think they’re more likely to derisk? I would rather go with the second option.

So @EtherFi looks like a different company on this chart than the one most people are pricing. ➥ Pre-August 2025: a staking + vault business with Cash as a side product ➥ Post-August 2025: Cash is the engine. The rest exists to feed it The market hasn't repriced yet and that's the reason I just bought some ethereum:0xfe0c30065b384f05761f15d0cc899d4f9f9cc0eb. Here's why👇 The token has a $378M mcap on $197M in annual fees. We're paying less than $2 for every $1 the protocol generates. This shows the market is pricing this like the business is collapsing but in reality it isn't. Every month ETHFI earns about $4M in revenue across three products: 1. Liquid vault: $2.92M (73%) 2. Cash card: $1M (25%, up 3x in 6 months) 3. Borrowing: $67K (still small) The card is what has convinced me as spend volume doubles every 2 months and revenue follows it. ➥ Bull case: If that doubling holds for 6 months, the card alone earns $8M/month and if we add the vault staying flat and total revenue runs $132M a year. At the same multiple, the token trades nearly 3x higher. ➥ Bear case: Even in the bear case where the card slows by 1/2 and the vault loses another $100M in deposits, revenue still runs $57M a year. At the same multiple, the token still sits about 20% above current price. Both scenarios point higher than today. About the vault decline. The -36% drop was contagion from the Kelp rsETH exploit on April 18. EtherFi paused liquid deposits and withdrawals as a safety move. These kinds of outflows usually stabilize as confidence returns. If they don't, the bear case gets worse before the card catches up. I could be right on the thesis and still watch this grind lower for weeks. Also there are few things that has not priced in yet: ‣ $50M buyback authorized below $3 (we're at $0.47). Only ~$7.26M actually deployed in the first 6 months and currently paused for 30D+. The execution has been inconsistent and resumption is going to be the catalyst ‣ $3B ETHGas deal from April. They committed 40% of staked ETH to a new revenue line ‣ Gold vaults and Euro card launching soon ‣ Borrowing product runs at 100% margin and is still tiny, any growth there is pure profit This reprices when the card hits a number the market can't ignore or the buyback visibly deploys. Neither has a date. The math gets harder to fight every month. Watching the card's monthly revenue and whether the vault stops bleeding. h/t to @Dune for the data

Hello 78k $BTC ✅ As expected, $BTC has now entered the 78k zone. This is the first area where a reaction could be expected. 77.5-78k is a zone that bulls should protect at all costs. For now, PA looks very weak, so if they do not step in and there is no bid to turn this around, things could get very ugly. A reaction from the current zone would not guarantee that the party is saved either. After a possible reaction, there would need to be a sustained bid to create proper support and keep grinding up. So even if we see a reaction here, I would not interpret it as confirmation that the uptrend is still intact, since it could simply be a mechanical bounce before continuing lower and killing late longers. My opinion remains that there is still a lot of downside left. Let's see.

Nado TGE is approaching: What are points actually worth? @nadoHQ is the perpetual DEX built by @krakenfx's core engineering team, deployed natively on Ink Network (Kraken's L2 on the OP Stack). It's quietly become one of the most active perp DEXs in the Ink ecosystem heading into the upcoming INK token launch. With Kraken's Q1 2026 IPO narrative behind it and $INK TGE expected Q3-Q4 2026, Nado is one of the clearest airdrop plays in the current market and already top 5 in perp DEX revenue YTD. Droping another FCFS 20 invites to Nado 🔗 app.nado.xyz/perpetuals?joi… Check the complete Nado airdrop calculator 🔗 @ProtocolRaider

🇮🇳Breaking : Indian Rupee has fallen more than 10% against Pakistan, Bangladesh & Sri Lanka’s Currency since Jan 2025

Another day, another step toward autonomous robotics with @konnex_world 🤖 Training robots through real tasks and human feedback to improve AI-driven systems in real time. The future of robotics is being built on-chain. 🚀 #Konnex #AI #Robotics #Web3

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