The Coldest 🐂

debating running a long $XPL / short $ETH swing pair trade for Q4 -- Plasma should be the ideal place to farm with stablecoins for forseeable future with 8% of token supply allocated to bootstrapping TVL & partnerships with established OG defi protocols on Ethereum incentive alignment with a lot of power users in crypto already through public token sale and strong backing from tether/bitfinex/founders fund/framework trading at $2.7B circ / $14.7B FDV market cap most reasonable comps are Tron ($30B) - which is nearly 100% used for stablecoin transfers, Plasma already has $3.7B defi TVL compared to Tron's $6B and should have a lot more momentum with dapps deploying in early stages comparably to Tron which does not have a lot of activity outside of transfers and has stagnated for awhile, + Plasma's $0 fees on all $USDT transfers should make it the best place to handle these transactions other comps would be newer L1s like Sui ($11B circ / $32B FDV) which has already experienced its 10x rerating this cycle definitely believe this will get memetic value as being the only way to publicly get long tether, as we've seen the meme "banking chain" thesis sent $XRP to $150B+ market cap over the past five years with zero utility at all -- am concerned with general bearishness of the market so could be a drag on price action, but think you take advantage to buy more spot here if given the opportunity as the most sell pressure from presalers should happen within the first month, expecting floor around $1 if im wrong on general bearishness and have to close the ethereum short leg, think Plasma will be one of top performers alongside others like hype/pump/ethena $ETH short leg: