Market Recap
● The Fed left interest rates unchanged last Wednesday, but the dovishoutlook sent risk assets higher
● Real World Asset Tokens outperformed this week, led by $ONDO, whichis now trading at $1.2bn circulating market cap, and $9bn fully diluted
● $DUSK Network trading well, benefitting from the RWA beta, but also progressestowards mainnet launch
● Terra founder Do Kwon is about to be released from prison andaffiliated tokens trading volumes and prices ticked up. $LUNA $LUNC $USTC
● Coinbase Derivatives has announced plans to launch futures tradingfor Dogecoin, Litecoin and Bitcoin Cash as soon as April 1, sparkingoutperformance in each of those tokens, and stirring up speculation anddiscussion whether those will get eventual ETFs as well
● Rather large options and futures expiry this upcoming Friday:
● ETF Flows flipped negative for the first time in a while
(Sounce: Farside Investors)
● Base Chain activity picks up as Twitter influencers are trying todirect meme activity there to mirror Solana’s success
Upcoming Catalysts / Trade Ideas
● BTC Halvening, 4/20
● STX Nakamoto Upgrade, end of April
- “first SEC-compliantblockchain”
- we think it’s worth being earlyusers/testers of the chain post upgrade, as there’s tremendous interest in defion Bitcoin and Bitcoin L2s, as shown by Merlin chain’s 3Bn TVL amassed shortlyafter launch
- the limiting factor at themoment is UI/UX, stacks (pre upgrade) and Ordinal ecosystem leaving a lot to bedesired
● Doge Day, 4/20
● APT rumored RWA partnership with a large asset manager
● Eigen Launch, rumored to be in April
● FTM Sonic Mainnet, late march to early april
● WIF will be displayed on the Las Vegas Sphere, Date tbd, rumored May
● $LDO has traded well the past week, after being a laggard
- We expect continuation in thismove as Eigen TGE nears
● $SYN currently trades at $225m fully diluted
- we think it can be re-ratedheading into Wormhole (W) and LayerZero TGE
- Wormhole currently trades 16Bnfdv implied by Aevo futures
- LayerZero TGE rumored to be inJune
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