Interesting: $XPL and $STABLE have almost the same valuation, yet wildly different fundamentals. Completely different growth metrics: > Plasma's TVL is $5,800,000,000 > Stable's TVL is $30,000 (pre-deposit vault excluded) Plasma still offers multiple productive yield opportunities, such as Aavethena and Pendle, which actively attract DeFi users. At the moment, Stable lacks DeFi use cases. No working app. No ecosystem. No user (zero dex volume in 24h). Wild to see this.

Innovations that still get me excited in a broken market: • @8004_scan ERC-8004 pushing verifiable agent identity • @zama privacy-as-a-service / a confidential plugin layer + upcoming ICO • @Pumpfun upgraded creator fees, more upgrades ahead • @GEODNET adoption of decentralized positioning network for robotics • @ether_fi parabolic spend volume and usage on Etherfi card • @pendle_fi consistent and reliable yield source for stablecoins • @Starknet BTCFi season + strongest Bitcoin yields • @ethena_labs stablecoin-as-a-service at scale Feels early. Still a lot to learn.

1st month stats on @hyenatrade are out, and they’re impressive. Users are real traders (OI > volume). And so far, HyENA has paid $214k+ in USDe rewards to long positions. That puts HyENA among the best-rewarding perps today, with extra upside from points. As more pairs go live, HyENA should keep expanding the pie.