@TheWrapRadio can you guys post the epic phone call from mike in the oc on the jim rome show? I can’t find it anywhere and i need to hear it again @dustinswedelson
This time it will NOT be different
I've traded in six different decades
Every time there has been a supply and demand imbalance in commodity markets I've heard the phrase ...
"This time it's different."
It has never been different. Never will be.
So enjoy it now
#silver
My friend forwarded this to me. There are honest ways to dunk on NFTs but saying that this NFT is worth less than $100 just makes you look dumb to anyone paying a hint of attention.
Ethena is currently in a difficult situation.
— TVL has dropped a lot
— Yield is lower than on Aave
— Ecosystem projects are shutting down before they even launch
Ethena was a pioneer in delta-neutral stablecoins and took a large part of the market, but now it is facing a crisis.
I think the team now needs to rethink the current mechanism or add something new to keep developing.
In general, problems can be seen on all levels of the ecosystem pyramid. There are issues with the core product that provides yield, with ecosystem projects, and with the tools that should support this ecosystem.
For example, Terminal Finance, a MetaDEX from the Ethena ecosystem, shut down before launch, even though everything was ready. The reason is simple: the Converge stablechain was never launched. And as they said in their tweet, it will not go live in the near future.
Social networks like X and Discord are not active: no news, no updates. There isn’t even an intern running the X account to keep community interest. The last tweet was on August 14.
Most likely, we will see an announcement similar to Terminal, because Converge failed to join the race of corporate/stable blockchains. The euphoria is over together with the huge overvaluation, and now it is clear that only whales earn from such activities.
The only thing that gives some hope is HyENA (tokenization and native yield), created together with Based and Hyperliquid.
I don’t believe in an instant death of Ethena they are still strongly established in the industry. But if they continue like this, they will face many problems.
A neobanking narrative or “stablecoins-as-a-service” would fit them very well.
If we zoom out, we can see that the whole stablecoin market is going through a revaluation. The total stablecoin market cap has been falling week by week.
The era of simple yield without complex lego strategies is over (for now). The fall of Risk Curators and the general cooling of the market also played a role.
P.S. Thanks for the infographic, @crypto_condom
@GhostStoriesEnd homie, u see your fav fam, la cosa nostra, linked to nba coach chauncey billips caught by fbi setting up big fish in rigged poker games? Wild
nbcnews.com/news/us-news/l…
When this real estate bubble pops it will dwarf 2009. Instead of guys flipping 2-5 homes like in 09, you have guys flipping g to Airbnb and having 40 homes with no permanent tenant. Banks have allowed these guys to cross collaterize and keep borrowing against properties. I think Airbnb investment properties will be first to go.
@JG_Nuke We don’t need rate cuts (presumes we are inflationary) Powell should have been fired (for raising rates? Or not raising them fast enough?) just trying to understand the apparent contradiction if u think he should have been fired for raising rates
Money supply near an all time high.
Stocks at all time highs.
Gold at all time high.
Bitcoin all time high.
Houses all time high.
Inflation has been above Feds arbitrary 2% target for 52 consecutive months.
No, we don't need rate cuts.
Powell should have been fired years ago, but not now.
There isn't enough gold in the world for what's coming.
SHOCKING 🚨 :
In 1972, A French scientist Michel Siffre volunteered to lose his mind.
He spent 180 days alone in a cave 440 feet underground with:
- No clock.
- No sun.
- No human contact.
What he discovered haunts scientists to this day: