been a while since i last wrote a post

took a hits in the 2nd week of september and had to unchud myself. ended up making it back but it was a pretty stressful drawdown. anyway i’m back

Majors and ALTS are breaking out as you’ve seen. if you’re long anything major / alts you might as well hold and let it cook. stomach the funding and chill. no need to overtrade it and leave out the bear ptsd behind

mainly playing 2 positions

- $NEAR (funnily)

the NEAR thesis for me is pretty simple as we’re moving towards an onchain environment where you don’t really care what chain you’re using you just care about the outcome you want. NEAR has been building around that with chain abstraction/Intents/Chain Signatures/etc

NEAR Intents is basically the liquidity and execution layer sitting across chains while the AI side is about agents being able to actually hold assets/transact and execute things onchain without having to manually deal with every chain underneath them. that’s a pretty big surface area if the agent economy actually takes off. you don’t need NEAR to win the L1 wars but for it to become infra that everything else plugs into

and then you have the scaling + privacy and token value capture side getting built out alongside it + no token unlocks. intents has already processed meaningful cross chain volume and the protocol is now moving toward revenue flowing back into NEAR through buybacks

holding a $3.00 entry so happy to sit on the position, but def think a case can be made for an entry in these levels as it just broke out of a htf range

second position is

- $SCHIFFY - $5M

liking schiffy, from Moku HQ, quite a bit. they’re building a proper gaming ecosystem around the IP and have a16z behind them alongside the broader crypto/gaming background from the team: founder is ex-Bridgewater ML, team is ex-Limitbreak & Pixels. token is paired to GLD, burns the token side of fees and airdrops the GLD weekly.

that’s all for now. will be back writing and posting more hopefully. feels good to be unchudded again

$SCHIFFY update

interesting seeing the relative strength on both positions while the market has been slow this weekend

$AI the long eco leader, went from around 380m to 240m while $SCHIFFY has been grinding higher to new ATHs (currently 13M)

same with $NEAR

this is the kind of PA I love to see when holding new positions, relative strength while everything around it is getting smoked

fc near 1h wide

$NEAR update

we’re up 30%+ from when i first posted the position and we’re currently sitting at $4.75. still holding and haven’t trimmed anything as I honestly think it’s too early to be taking profit here

people are still catching on to the thesis around chain abstraction, intents, Chain Signatures and the whole agent economy angle still feels relatively unspoken of for now

the breakout has played out pretty cleanly so far and the original thesis hasn’t changed. if anything the price action is giving me more confidence to just sit on it and let it cook rather than trimming and moving to another trade

$6-8 is still the target i’m watching

$NEAR finally hit $5. been a really fun one to watch play out especially writing about the thesis

taking a big chunk off here and leaving the rest as a proper moonbag for 6-8. would like to see BTC cool off a little, ideally somewhere around 81k, before we get back to the races and I start allocating again all around

honestly just happy with how september turned out. gonna disappear for the weekend and enjoy it a bit.

congrats if you caught the trade with me 🤝

and remember: a chud today can be a chairman tomorrow

enjoy your weekend friends

https://x.com/optimist/status/2054594837114937451

early never wrong, written by yours truly