The Wolf Of All Streets

“US spot Ethereum $ETH ETFs posted $542 million in net outflows last week, their worst week since January and the ninth straight day of redemptions. Since September 29, the streak has drained roughly $697 million from the funds. At the same time, BlackRock’s $ETHA alone accounted for about $477 million of last week’s outflows, or roughly 88% of the total. Spot Solana $SOL ETFs also turned negative, ending a record 14-week inflow streak. Despite the outflows, cumulative net inflows into US spot Ethereum ETFs remain positive at approximately $13.3 billion. Institutional flows into Ethereum are reversing.”

“ETHEREUM $ETH RESEARCHER JUSTIN DRAKE CALLS FOR CRYPTO TO PREPARE FOR "BUNKER MODE," WARNING AI COULD BREAK BITCOIN AND ETHEREUM'S ECDSA SIGNATURE SECURITY SOONER THAN EXPECTED AND URGING HOLDERS TO MIGRATE ASSETS TO FRESH ADDRESSES”

“Blast, a once-hyped Ethereum L2, shuts down after airdrop farmers left and monthly revenue fell from $3.5M to $1,793 "Blast to shutdown Ethereum Layer 2, sets October 26th withdrawal deadline. You guys remember Blast, don't you? No, no, you don't remember Blast." "Blast was one of the very heavily hyped Layer 2s, and that was largely because of a massive airdrop that they offered, showing that these airdrop incentives don't generally mean long-term stickiness." "Ethereum Layer 2s were all the rage there for quite a while before you had Base and Robinhood and ones people actually cared about." "At one point, assets on Blast were $2.2 billion. They have collapsed to $32 million. They say that their monthly revenue no longer covers their security budget and expenses. The Blast token has lost 98% of its launch value." "Monthly network revenue fell from roughly $3.5 million at its peak to $1,793. Not million. $1,793." "You guys may remember. Before Blast even launched, users deposited more than $1.1 billion because they expected an airdrop. Then the airdrop came, and all of those people left."”

“OPEN STANDARD LAUNCHES $OUSD STABLECOIN BACKED BY COINBASE, MASTERCARD, SHOPIFY , STRIPE AND VISA, WITH OVER $1B COMMITTED TO INITIAL LIQUIDITY AND NATIVE SUPPORT ON ETHEREUM $ETH, SOLANA $SOL, BASE AND TEMPO”

“NEW: 🚨 CITI RAISES ITS 12-MONTH $BTC TARGET TO $113,000 AND $ETH TO $3,028, EXPECTING ~$5B IN CRYPTO INFLOWS ON STRONGER ACTIVITY, ETF DEMAND AND A MORE SUPPORTIVE MACRO BACKDROP”

“U.S. SPOT ETHEREUM $ETH ETFS POST $2.81M IN NET OUTFLOWS ON SEPT. 29, ENDING A 7-DAY INFLOW STREAK THAT BROUGHT IN ~$850.8M”

“Avichal Garg on the three crypto categories he's investing in "One is, I think the store of value chains are still very interesting. So for us that's primarily BTC and ETH. I think those have ascended into sort of prospective store of value territory. Effectively fixed supply, easy to subdivide, easy to transfer, all the check marks that you would want. And they appeal to different communities." "The second category is anything that has some sort of fee mechanism built into it and deals with financial assets and transactions. You could put SOL into this, put HYPE into this. Our take on those has always been that you have to be very mindful of the fees, you have to think about what the fee take rate is, and then you treat it like an equity." "These are assets that take fees in dollars and make them available to people all over the world who don't have access to dollar instruments. So if you're in Vietnam, if you're in Nigeria, if you're in Turkey, you can buy into these things, and you may not be able to get actual US equities." "To own a piece of a thing that produces US dollar cash flows and can effectively give you a distribution of US dollars in the form of buybacks is a really valuable thing. And the way that the market will express that is a much higher PE ratio, in my opinion, than you get on the US equity markets, because the buyers have fewer alternatives." "Then there's this emerging category of applications that use these primitives that could not otherwise exist. Applications that essentially use distributed compute, confidential compute, zero knowledge proofs and proof generation. Some of those things will look like companies, some of those things won't even look like token networks."”

“The S&P 500 is sitting near record highs. But the internals are weak. As of Wednesday, 257 of the 500 stocks in the index were trading below their 200-day moving averages. That’s more than half the index underwater on a widely watched long-term momentum measure. Breadth is bearish. Now look at crypto. Of the top 100 tokens by market cap, 88, including Bitcoin and Ethereum, are trading above their 200-day SMAs. Most of those same coins are also holding above their 50-day and 100-day averages. That’s a clean, bullish configuration across the board. And here’s the part that stands out: $BTC, $ETH, $XRP, $SOL and the majority of the rest are still well below their all-time highs. They look relatively inexpensive compared with equities that are already pricing in a lot of good news. Weak breadth in stocks near highs has historically been a yellow flag. Strong breadth in crypto while prices remain far from peaks is the opposite setup. The data doesn’t lie.”

“Tillman compares Zcash to CryptoPunks, a price held up by holders who don't need to sell "Here's the point I brought up earlier about like 40% of the public pool is owned by 100 wallets in Zcash." "They may all be diamond hands, like Bored Ape Yachts and CryptoPunks are. I'm just saying, that's the only reason why those things still command a price, because the people that own them are rich enough where they don't have to sell them." "And if the 40% of wallet holders on Zcash don't have to sell, because the price is up this high and they don't need the extra billion, then the price could go up higher." "But that's not real is the point. And people need to understand that." "That's not a real market, when you have concentration of that much of the currency in that few hands. What you want is a very, very shallow, very wide pool of holders."”

“2.5K all day. $ETH”

“ARTHUR HAYES: “MY NUMBER ONE PICK RIGHT NOW IS ETHEREUM.” SAYS IT COULD DO “3X TO 5X PRETTY QUICKLY.” https://t.co/9AQpEDyMmE”

“Matt Hougan on the three things driving ETH "I'd call out three in particular. One is it became a really hated asset. This idea that there were no sellers left, which was true in crypto broadly, I think was really true in ETH. Anyone who got tired of ETH definitely puked and sold a few months ago, right at the depths of the foundation reorg. Everyone who wanted to sell had sold" "I also think ETH had a little bit of community momentum, because it started to do a few things right after that foundation retreat and collapse, with the formation of these new entities. It was already outperforming Bitcoin during the last few weeks, so it was ready to run" "And I do think the stablecoin and tokenization thing is a big meta theme, and people thought ETH is at the center of that, I'm going to own it" "You put all those together and you get this explosive upside move. But a lot of this move is just no sellers, it's a no seller move, so even a little bit of demand just skyrockets these assets"”

“Massive bullish signal for the crypto market: $ETH almost outperformed bitcoin:native by DOUBLE "Ethereum almost outperformed Bitcoin by double, which I view as a massive bullish signal for the crypto market, because this wasn't just Bitcoin money" "We had Ethereum, crypto money coming in" "We had all kinds of additional evidence here that actual money is coming in"”

“$ETH chart looks even better than bitcoin:native, for the past few weeks and on the move today. https://t.co/OvJ5NXYZHh”

“BITMINE $BMNR CHAIRMAN TOM LEE SAYS ETHEREUM $ETH OUTPERFORMED NASDAQ 100 IN JULY”