Some Mid-Year Thoughts It’s two weeks into July, and unexpectedly, this month has been incredibly strong. To be honest, I thought we’d just be getting Bonk Szn for the rest of the summer and that general equities would start running in Q4. But it seems like this year, BTC treasury companies are front-running seasonality, fueling this run-up. BTC has been an absolute beast, making new ATHs supported by constant high inflows into the BTC ETF, mainly from BlackRock. This ATH run-up brought alts and trenches running together. Although volume in trenches still isn’t what it was pre-Trump era, with the Bonk Launchpad coming in hot, things are heating up. Surprisingly (or not, really—seems like the worst of summer is behind us), we’re getting multi-million-dollar runners daily. Just last week, trenches sentiment was lukewarm while waiting for the $PUMP public sale. Very interesting now seeing how the raise sold out almost instantly yet we're still seeing @bonk_fun dominance more than...
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