Crypto Market Bleeds, But One Narrative Holds Strong 📉

Today's crypto heatmap is almost entirely red: $BTC -2.44% $ETH -4.57% $SOL -4.44% and $XRP -2.65%

But here’s the interesting part 👇👇👇

https://x.com/linenmito/status/2034283314152886402?s=20

하리는 며칠째 계속 지금 본 가격이 가장 싸다를 보여주고 있네요.

근래 rwa 거래 해보면 느끼는건 하리(trade.xyz)는 신이고 여전히 대안은 없다 입니다. rwa 상품들 다 지금은 growth mode 적용 되서 수수료 전통 금융에 비벼봄직 하네요.

trade.xyz에서 흥미있게 보는건 brent crude oil인데, 인덱스 갱신 시기가 약 20일 남은 시점에, 해당 월물과 차이가 5% 나는 상황이라는 점.

시장이 생긴지 2주된 시점에서 평균 일 펀딩은 + 0.0015% 였다는 점.

펀딩을 받는 입장이면서 양쪽이 2주간 붙어준다면 괜찮을 수 있다는 점.

대신 세금을 내는 방향으로 수익이 생긴다면 머리가 아플 수 있다는 점.

선물에 세금 안 메기는 나라도 존재한다는 점. 홍콩이나 싱가폴은 살기가 좋나 모르겠네요.

$HYPE keeps showing me the same thing day after day: the current price is the cheapest price.

After trading RWAs lately, the feeling I keep coming back to is that Hyperliquid/trade.xyz is king, and there is still no real alternative.

All RWA products on @tradexyz are in Growth Mode right now, so the fees are starting to look competitive even against traditional finance.

One product I find particularly interesting on @tradexyz is Brent crude oil.

There are about 20 days left until the index rolls, yet the gap versus the relevant futures contract is around 5%.

Another interesting point is that, even though the market has only been live for about two weeks, the average daily funding has been around +0.0015%.

So if you are on the side receiving funding, and the spread holds together for another two weeks, it could actually be a pretty decent setup.

The headache, of course, is taxes if the profit shows up on the taxable leg.

There are also countries where futures profits are not taxed, which makes this even more interesting.

Not sure how livable Hong Kong or Singapore would be, though.

Selected for Cascade's “First 50” Private Trading Access

Grateful to be invited into the early Cascade’s private trading launch, selected from 3,000+ depositors and 20,000+ waitlist participants. 👇👇👇

https://x.com/linenmito/status/2034580352937742762?s=20

Hyperliquid ( $HYPE) vs Every Other Perp DEX - Why Most Will Fail

The Perp-DEX narrative is one of the strongest forces in crypto right now. But beneath the surface, there’s a reality most people aren’t ready to accept:

"Most perpetual DEXs will fail", and here is why 👇

https://x.com/linenmito/status/2034960663643033727?s=20

Can Variational Replicate Hyperliquid ( $HYPE)?

Most perp DEXs fade away in such crowded perps dex markets, but Hyperliquid ($HYPE) stood out, and Variational could stand out too if it succeeds in expanding through RWA.

And this won’t be by accident. Here is why 👇👇

https://x.com/linenmito/status/2036049119668559879?s=20

Claimed my Backpack airdrop today.

- 124K $BP tokens earned purely from trading
- Current price: ~$0.24

https://x.com/linenmito/status/2036078839374213199?s=20

Top 10 Perp-DEXs by Open Interest (24Hrs) 🧵

I dug into the current perp-DEX landscape, ranking them by Open Interest (OI) in the last 24hrs..

Here is What stands out 👇👇

https://x.com/linenmito/status/2036430852352016730?s=20

Why Perp Traders Should Pay Attention to RWA Markets 🧵

Most perp traders are only focused on, $BTC, $ETH, memes, and volatility. I myself holds significant amount of $BTC and $HYPE. While this is great, the next wave of real liquidity won’t entirely come from there alone.

I believe it’ll be coming from RWA and here’s why this matters more than you think 👇👇

https://x.com/linenmito/status/2036773572123762853?s=20

Latest Variational Update!!!

Today, Variational made a major shift: sunsetting loss refunds.

Here’s what changed and our view on it 👇👇👇

https://x.com/linenmito/status/2036804353302855735?s=20

Was The Backpack $BP Airdrop Actually Mispriced Or Misunderstood? 🧵

Over the past years, backpack gained a lot of traction, some expected it to be the next @HyperliquidX ( $HYPE) in rewards.

But few days back, sentiment around Backpack has been clear:
“Disappointing.”
“Undercut.”
“Not worth it.”

Was the airdrop actually small… or were expectations simply too large?

Let’s break it down without emotions 👇👇👇

https://x.com/linenmito/status/2037135333758808288?s=20

I Trade Daily, And Here is Why I Still Use Hyperliquid ( $HYPE)

I trade daily, real size, and real volume, and I haven’t left Hyperliquid. Not because I can’t but because leaving could make me a worse trader

And Here’s why 👇👇👇

https://x.com/linenmito/status/2037475002673414582?s=20

Week 15 Variational Points Distribution

We’re still holding the #1 spot on the variational points leaderboard, now at 56,542 points.

How are we holding? 👇👇👇

https://x.com/linenmito/status/2037801115446616067?s=20