The sentiment gap just keeps getting wider and wider.
There's a full on institutional Wolf of Wall Streets bull run in NYC rn. Larry Fink is calling for generational highs on digital assets, saying we are literally going to tokenize everything.
Average CT trader is completely BTFO, liquidated, and apathetic.
I'm choosing to be optimistic.
I'm choosing to lengthen my time horizon.
I'm choosing to be a delusional bull. Cockroach mode.

The ticker is ______?

Choose one.

Welcome to month 6 of the revenue meta.
Fees vs. inflation.
Price to earnings.
Metcalfe's law.
Network effects.
Risk-adjusted yield.
Power law return profile.
Networks as businesses.
L1 valuation compressions.
This is the new frame of thought from all the institutional investors entering digital assets en masse. This isn't 2021 anymore. Return to fundamentals.

In case you missed it, we had Dankrad Feist on the show in Argentina to unpack his move from the EF to Tempo, stablecoin chains and payments, and the major updates coming for Ethereum with Fusaka and more.
His first public appearance on Tempo.

Two things that seem very clear to me:
1. By the end of 2025, we will have gone through a full stage one maturation as an industry. VCs will look for revenue & business models in 2026. Speculators will not bite on random pumps. People will be more savvy. Valuations will likely compress.
2. By the end of 2026, we'll likely have a much better understanding of the real areas of adoption, a better UX to show for it, and likely a stronger base of steel handed participants. Tourists will be washed.

ICOs >>> airdrops
Is this the consensus now???

After MegaETH, what major launches are there to be super excited about in H1 2026???

The big 4 consensus bets for 2026:
Prediction markets
Perps
Tokenization
Stablecoins

Prediction markets and perps as categories are the easiest 100x in terms of volume, users, and mindshare from here.