Mike S

Mike S

28,822 Twitter followers

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Co-founder @boom_fi and @FOMO_v | Web3 Builder, Advisor & VC

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Although Ethereum and Tron lead in stablecoin supply, Solana is already competing on transfer volume, processing ~$650B+ in February alone, ~2x prior highs. Payment and settlement flows are scaling fast (~755% YoY), alongside a few key developments: → Visa piloting USDC settlement on Solana → Stripe expanding stablecoin payment rails via Bridge More broadly, Mastercard’s planned acquisition of BVNK highlights how stablecoins are being integrated into global payment infrastructure. Solana holds a fraction of the supply but drives disproportionately high volume. That gap between supply and usage is worth watching.

HIP-3 perp DEX OI just hit ~$1.3B (ATH) - and it’s not crypto driving it. → Commodities: $657M → Indices: $267M → Equities: $240M → Crypto: <$50M 85% of OI is TradFi exposure. Oil alone went from near zero in Jan to ~31% share in ~2 months.

Spoke about farming the @grvt_io airdrop recently - a few updates: → TGE now end of June (focusing on better liquidity at launch) → 1B fixed supply, 100% of protocol surplus goes to holders via buybacks → Season 2 extended to TGE, rewards bumped from 12% → 18% (no dilution), with overall 28% of supply going to the community → spot markets in April overall looks positive - bigger reward pool and protocol surplus goes to buybacks twitter.com/Mikesi30/status/20...

BTC and majors still showing strength. Asia session has been consistently bid and Binance spot CVD finally pushing higher after prolonged selling. Bias toward continuation from here - looking for BTC to reclaim $80k, ETH $2.4k and SOL $100. twitter.com/Mikesi30/status/20...

x402 transactions on Base approaching 100M. Real usage. AI agents are starting to transact at scale on crypto rails. Why crypto over cards? Credit cards need a human with a bank account behind every transaction. Agents can't open bank accounts. Stablecoins don't need them to. 💭 CZ: agents will make 1M times more payments than humans. 💭 Armstrong: more agents than humans transacting soon. They'll use wallets, not banks. → Stablecoin flips Visa in transaction volume ($27.6T, 10x growth in 5 years) → ~100M x402 txs on Base. 98.6% in USDC. → Average agent tx: $0.09. Micropayments at scale. Stablecoins win because agents need flexible trust, global reach from day one, and programmable endpoints. Cards can't offer that. Blockchains are becoming the banking substrate of the agentic economy.

Longs starting to look constructive here. Coinbase premium back positive, spot CVD picking up, while funding is negative as shorts open. Also lines up with macro - Iran missile + drone attack velocity has dropped sharply in recent days vs the start of the conflict, and oil has pulled back. Market seems to be pricing a path toward de-escalation.

RWAs on Solana just crossed $1.7B in market cap. Top 3 leading the charge: • BUIDL ~ $552M • PRIME ~$339M • USDY ~ $177M For context, Ethereum's RWA market sits at $15B+. Solana is at ~11% of that, but a year ago, this number was barely on the radar. The trajectory matters more than the snapshot. And, TradFi capital doesn't pick chains. It picks infrastructure: fast settlement, low cost, deep liquidity. That's the race worth watching.

Starting the year, looking at where early VC money in Web3 is actually flowing. $2B+ already raised. Dragonfly also announced a new $650m fund. Here’s what’s getting funded: • Stablecoin rails (settlement, cards, embedded finance) • Institutional infra (custody, prime, compliant execution) • RWAs beyond T-bills (private credit, tokenized commodities, issuance rails) • Fintech distribution (brokerage + card APIs) • Risk + compliance (defense as a core product, not an afterthought) Most of the capital is going into infra + rails.

Opened shorts after BTC lost $87.5K. Already seen a big move down but I think we test 84k at least.

Solid move up from the $HYPE lows. In hindsight, ~$20 aligned with the 10/10 lows. I entered around $30 after the downtrend broke. Despite heavy competition from other dexes, HL remains #1 in perp volume and fees, with the majority of fees used for buybacks. HIP-3 OI and daily volume also reached new ATHs this week. Commodities are a massive market and look like a meaningful growth lever for HL. twitter.com/Mikesi30/status/20...

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