@XiaoZhi_BTC good to see it trending down but 30% is still high af imo
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Marcus 🧪
95.8K posts
Marcus 🧪
@marcuslayerx
5 yrs growing @NEARProtocol. now writing about what crypto founders dont post about.
onchain Katılım Haziran 2021
954 Takip Edilen6.6K Takipçiler
30% of the decentralized perps market right now is wash trading
defillama tracks $267b in dex perps volume over the last 14 days
$73b of that comes from 4 protocols
aster - $23.5b
lighter - $18.8b
gmtrade - $18b
evedex - $7.9b
aster and lighter were both flagged by coinglass on feb 9 for wash trading patterns and their liquidation rates were 17-37x lower than hyperliquid on a comparable volume day
gmtrade and evedex are worse...
gmtrade's daily volume is 29.5x its open interest and evedex sits at 41.9x
normal vol/OI on legit venues runs between 0.3 and 2.0, and anything past 5x is wash trading (nothing real generates 29x turnover)
strip those four out and the actual dex perps market is $186b
hyperliquid's 31.8% market share becomes closer to 45%
separately, march wallet data from hyperliquid's own hub - 1,725,066 cumulative trading wallets sounds huge
the top 100 wallets do 81.3% of all volume
the other 1.72 million wallets share the remaining 18.7%
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@kolyposts his school better be careful if they roast him for it…💀
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@Carlitoswa_y eh i de risked a while ago tbh, just enjoying life atm
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I’ve been telling you to derisk for weeks
I hope you’re ready for the incoming pain
BlackRock is selling
Insiders are dumping
Yields are spiking (30Y > 5%)
Energy is up only (oil +84% YTD)
Bitcoin ETFs just bled $1 billion
Markets lost $1 trillion yesterday
S&P 500 hit its 161.8% fib target
The coming reversion won't be pretty
The historic run is hitting a wall
I stopped buying weeks ago
I'm took chips off the table
Meanwhile, @waleswoosh is house hunting
Good luck
Caleb Franzen@CalebFranzen
Listen guys, it isn't rocket science... The S&P 500 has been on a monumental run. It's been historic. I've gotten significantly wealthier as a result of this rally. I maximized my opportunity to benefit from it. And it paid off. But this 161.8% target completion means that it's probably time for the market to take a breather, consolidate a tad, retest some of its moving averages (literally, a mean reversion), and allow for the froth to get taken off the top. There's a reason why I stopped buying stocks two weeks ago and instead switched to taking some chips off the table. You have to pay yourself, irrespective of your timeframes! Anyways... A cool down here would be perfectly normal, healthy, and constructive bull market behavior! Embrace nuance & good luck.
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the hyperliquid coinbase circle deal yesterday could be the end of foundations
99% of everything i saw on the tl was the same - HYPE pumped 20%, $45, bullish, bitwise ETF live, etc
however, let’s look at what the mechanic does
usdc sitting on hyperliquid (~$5B at last count) earns native yield
that yield gets routed to HYPE buybacks, circle stakes more HYPE, coinbase becomes the official treasury deployer
translation - hyperliquid just turned stablecoin float into protocol revenue, and protocol revenue into token value
no VC round, foundation, ecosystem grant program or token sale to fund operations
just simply usdc float, protocol fees and buybacks
spent 5 years inside a foundation and the model is something like:
> sell tokens (or pre sale them to VCs) to fund operations
> build a 50-150 person foundation
> deploy a $50-200m ecosystem grant program
> wait for projects to use grants to build apps that drive volume back to the L1
> unlock more tokens, repeat
hyperliquid did none of that
~$40B fdv, ~43% of all blockchain fee revenue, generating treasury from float
every L1 foundation right now is either pretending this doesn't apply to them or possibly trying to figure out how to replicate it
solana grabbing the "perps" handle is a foundation move - brand surface area, distribution via attention, doing the things foundations do
meanwhile hyperliquid is doing the structural thing of capturing stablecoin float and converting it into token revenue without needing a foundation at all
the foundation era ran on token sales funding bloated operations
that era ends with this trilateral imo
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@anabelmtz86 ai wipes my ass every morning, couldn’t live without it
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@waleswoosh even more bad news: this screenshot makes it go down even more
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Bad news: If you invested in MegaETH, you're now under water.
Good news: You still have 11 months until your tokens unlock and you have to sell
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@0xtna if there are any strong teams serious about hiring/filling roles right now and looking for someone that fits this profile, im available
Marcus 🧪@marcuslayerx
ok yeah im posting this 5 years at NEAR (got cut q1) available for fractional, advisory, or the right full time role cv attached
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We need to talk about hiring in crypto
Hiring is really, really hard. But it is *so* important to get it right
Your team needs two qualities more than any other: being driven, and being able to tolerate uncertainty. There aren’t many characters who can do both and not burn out
Find them and hire them
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Bunch of fat fucking neck beards
Madeleine Louise (peetrini analyst #3)@0xmadeleineee
niggas on CT saying they will slime you out meanwhile the heaviest shit they ever carried was a 1/4 pounder
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people are misinterpreting this
strongest signal = reply
means GETTING REPLIES to your post will boost it (more than likes for e.g.)
NOT doing hundreds of replies will boost you
this doesnt mean anything positive for reply guys/gals. only for the people receiving the replies
JUMPERZ@jumperz
it seem like replying is still king..
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why can’t people on twitter be normal?
sara@defidarling
why can’t people on twitter be normal?
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If you choose the BMW we can’t be friends
Bandz⌖@BandzMcBagz
Which would you rather have for $85k BMW M5 or a psa10 Lugia
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@cryptoleon yea I stopped this nonsense a while ago, i just post what i like. I don’t even care about the algo. Whatever
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everyone talking about a potential airdrop lmfao
you will get 0.0000006$ for one post lol
like actually its a big psyop as always
tge will be delayed until 2045 or smth like that
trust me not worth it
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Nvidia CEO Jensen Huang was spotted eating Beijing’s famous fried bean sauce noodles.
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