A little afternoon delight this Sunday afternoon in the markets. The script is getting old, and frankly, it's a tad insulting:
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Sunday Afternoon Pumps - oh yeah, here we go on the rocket…
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Sunday Night Dumps are still clockwork (6 PM EST, every single week).
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Mondays continue to bleed out.
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The losses magically rebound by Wednesday.
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Rinse and repeat.
But this week, the puppet masters got greedy and threw in a bonus Thursday drop. This pattern has been relentless since 10/10, making it impossible to ignore the obvious: our entire market is being methodically controlled and manipulated by a few large actors. It is what it is—they run the game.
So it goes.
Polymarket seems to be leaning heavily into multiple rate cuts coming up and on Nov 30th, the Fed Reserve pumped $13.5 Billion into the U.S. Banking System through overnight repos. This is the 2nd largest liquidity injection since Covid. Things to look for this week from the Fed
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FOMC Rate Decision - Wednesday
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Chair Powell Press Conference - Wednesday
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Initial Jobless Claims data - Thursday
SEC Chair, Paul Atkins (@SECPaulSAtkins) said “All U.S. markets will be on chain within two years.”
We complain about the lack of liquidity, yet we are the problem. We are actively burning our own capital by rushing headfirst into perps and continuing to push the narrative that this kind of hyper-leveraged gambling is somehow "good" for the industry's stability. It's not.
Everyone wants perps and prediction markets, they want to gamble on everything. And the big market makers and exchanges? They see the opportunity. It looks like they are moving aggressively to make back the money they lost on 10/10 by heavily controlling prices, strategically liquidating retail traders, and using us to make their books look healthy again. They are playing a liquidation game, and we are the pawns.
Price Movements on the Week
$BTC - Up 0.06% (-11.54% 30 days)
$SOL - Down 1.24% (-17.27% 30 days)
$ETH - Up 3.5% (-8.55% 30 days)
$ZEC - Down 20.36% (-49.04% 30 days)
$HYPE - Down 11.97% (-31.24% 30 days)
Total Crypto Market Cap - Down 3.77% (-10.4% 30 days)
Despite the garbage markets, Solana had a really big week of announcements, even though BreakPoint is coming up in a couple days. The timeline was also filled with fighting this week. Base/Solana, Kamino/Jupiter, etc. Oh, where to start?
The Ugly from this week
On Sunday, Base (@base) made their Solana to Base bridge live and no feathers were left un-rustled. It’s permissionless, so anyone can do what they like, but it seems like the Solana team was a bit miffed that Base didn’t work closer with them to do some kind of launch announcement and integrations. Accusations flew back and forth between @jessepollak, @vibhu and people tossed in their opinions. Is it a vampire attack or mixed comms? Base announced they planned to do this months ago, so it shouldn’t have taken anyone by surprise and @ChillHouseSOL (who’s marketing seems based around being assholes) mentioned bridging to Base a while ago too. It’s not like anyone had issues getting access to Base and it won’t change my behavior personally, so…whatever. I have used EVM and Solana defi and prefer using Solana.
Pillow Fight #2: Kamino (@kamino) vs Jupiter (@JupiterExchange). The TLDR: Kamino blocked one click migrations to positions into Jup Lend. People cried foul and that Kamino isn’t playing fair. Jupiter claims their pools are isolated, but they aren’t. Kamino claims that's why they didn’t allow it. Jupiter says it was a slip of the tongue. Kamino says they are lying. So it goes.
Anthropic (@AnthropicAI) said to hide yo children and hide yo wife, because their ominously named Red Team tested whether AIs can exploit blockchain smart contracts…and they can. In simulated testing, their AI agents found $4.6M in exploits.
Shifting to More Positive News
Solflare (@solflare) are introducing their own cold wallet, Solflare Shield and pre-orders start at only $49! It looks like it functions a lot like a Tangem card. It’s a nice way to get more protection in a cheap and easy to use way and you can even cutomize it. https://x.com/solflare/status/1996612853441417681?s=20
Who could’ve predicted this? Kalshi (@Kalshi) expanded to Solana.
Builder Codes: anyone can now permissionlessly monetize applications on top of their global liquidity pool via @DFlow or @JupiterExchange
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Trading terminals, weather sites, AI agents… anything you want to build.
CNN is also now integrating them into their news feed and reporting.
Binance (@binance) is doing it for the kids. They rolled out Binance Junior, a parent-controlled app and sub-account for kids and teens. It’s never too early to get your kids learning about leverage.
Europe's top neo-bank with 65 million+ users and 15 million crypto accounts, @Revolut now supports Solana payments, transfers, and staking
Carrot (@DeFiCarrot) seems to have dipped into the Hylo approach and introduced Turbo.
• Amplified exposure to SOL and BTC
• Protected from liquidation
• Automated rebalancing
• Feels like holding spot, performs like leverage
Price drops → leverage adjusts → you hold through drawdown → price recovers → you're back in profit.
Speaking of Hylo (@hylo_so), they changed over to S1, leaving people from S0 having crowns earned in Season 0 carry over as a boost into Season 1. You had no xSOL, hyloSol+, hyUSD, sHYUSD, etc. They also have some cross point defi happening, like on Loopscale for hyUSD.
Hastra (@HastraFi) brought $PRIME over to Solana, with support from the newly launched RWA Consortium led by @Figure. It has real-world yield, backed by home lending and helocs, so it brings another option into defi.
HumidiFi (@humidifi) $WET token launch happened on Jupiter’s new DTF launchpad, with 3 rounds. Whitelist, Jup stakers and public. Each round lasted maybe a minute and guess what? The public round was sniped by basically one person with thousands of wallets. They are re-doing the launch, with a new token on Monday. If you got in (I did a little in $JUP round), they will airdrop you the new token. You can read more here - https://x.com/JupiterExchange/status/1997051725493178423?s=20
Doodles (@doodles) are coming to Solana with a 25k piece collection called Doopie Cubes. Starts at 1 SOL or you can buy a Hyper Cube for 3 SOL (rarity boost & 1/1 odds). If you have a Seeker phone and use it, you’ll be on the whitelist to mint. Snapshot is today, the 7th. I’ve personally always liked the Doodles art, but 1 SOL for a 25k piece collection is a bit on the high side in this market imo. We will see how they do. Not many NFT collections have broken out in the past year. The Clayno launch on Sui seems to have dropped away completely for the moment (although they still go for around 100 SUI).
Fuse (@fusewallet) dropped “Hide My Wallet”, allowing Plus members to send and receive stablecoins without exposing your wallet address. Hide My Wallet transfers route though a @Stablecoin relay address, removing the direct link to your wallet.
Squads (@SquadsProtocol) also added Grid Smart Transactions in private beta for teams on Solana that helps automate banking transactions and functions within your biz account.
Solana Mobile (@solanamobile) is releasing the $SKR token to mobile users. Outside of a governance token to help let people decide on what apps are in the store, I’m not 100% sure I understand why it’s needed. You can read more on their post.
https://x.com/solanamobile/status/1996278509967434017?s=20
Zero Knowledge
The Zypherpunk Hackathon exploded with entries. The prize pool is now $300k and 313 entries! Privacy projects will be coming and it’s amazing to see so many builders working on it. Judges are heavy hitters like Toly, Cobie, Balaji, Zooko, Mert, Eli Ben-Sasson, Sean Bowe and more. Talk about a ridiculous panel to get your project in front of. You can learn more about the projects by clicking on their names - https://zypherpunk.devfolio.co/projects
Pacu (@thecodebuffet) mentioned that @Ledger presented their retroactive grant proposal to support Shielded @Zcash in Ledger Live with a similar UX as the rest of the assets they support.
The SEC has updated the agenda for its Dec. 15 roundtable on crypto, financial surveillance, and privacy — featuring Zcash founder @Zooko Wilcox, and other crypto and blockchain leaders.
Eli Ben-Sasson (@EliBenSasson) made the rounds this week talking to everyone, including Michael Saylor and dropped a solid article on privacy and real life ZK use cases, for even law enforcement.
https://x.com/EliBenSasson/status/1991508558328873102?s=20
The ETH L1 opens the doors more for ZK. Ethereum’s new Fusaka upgrade (EIP-7825) caps every single transaction at ~16.78M gas. This kills “mega-transactions” that used to hog entire blocks, but more importantly it gives ZK systems predictable, bounded work units. Parallel proof generation becomes easy and latency is no longer at risk from one giant tx.
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