Tokens to watch this week: 1) $HYPE $50 is a key psychological level. We could see a dip here due to profit-taking after weeks of positive price action. Fundamentally still solid. $PUMP’s price discovery happened on Hyperliquid rather than any other venue—which is insane to think about. The builder codes and additional front-end flywheel haven’t even started yet. 2) $ETH Beta plays Above $3k for the first time since February. ETF flows have been pretty solid at $200M–$200M over the last few days. $SBET is also on a tear, with the $MSTR-for-$ETH strategy working so far. Funding is still negative due to the immense number of basis traders capturing a 12% risk-free yield by buying and staking $ETH while shorting on CME. Beta plays: $ENA, $PENDLE, $FLUID, $EUL, $AAVE. 3) Launchpads: $PUMP, $BONK, $LAUNCHCOIN Launchpads are among the most profitable businesses ever. People are starting to value them based on all kinds of fundamental metrics. “Value” is finally here. There’s clearly a power-law dynamic playing out, with the top 3 launchpads holding 90% of market share. People are comparing $PUMP to $HYPE. IMO, $PUMP running to a $20B valuation wouldn’t surprise me at all. $BONK and $LAUNCHCOIN could also get repriced accordingly. Beta plays I like: $FARTCOIN (for PUMP), $GP (for BONK), $STARTUP (for Believe).