🥛 Chasing trends vs. printing gains

Welcome to the tenth edition of the Degen PRO Report!

Phew, degen.

That’s all I can say after this week’s FOMC. The most-expected outcome played out, which is good news for the broader market - and even better for our degen bags.

‘Cause when things go bad, they go really bad for degen assets. But this week? Marked safe. Our tokens are still kicking. Well… some of them.

Let’s get into it.

🧠 VIBECHECK

Cycle tops are funny. Everyone’s calling one, but let’s remember what a “top” actually is: an ATH that holds outside of local market structure.

For degen assets, a $BTC top doesn’t mean everything instantly nukes. In fact, it often means we get a few weeks or months of chaos before the real downturn.

The top isn’t the top until years down the line.

Last cycle is a great example. $BTC/$ETH topped in Nov 2021, but the trenches were alive and well through April/May 2022.

That’s when Moonbirds ripped to a 35 $ETH floor off an 8 $ETH mint, and Yuga made us burn $100M in gas on Otherside land sales.

Point is: don’t obsess over the “top.” Focus on trading the assets in front of you. The trenches are full of opportunities that don’t care about cycle labels.

That being said it never hurts to have a good feel for where we are in the current cycle and how much time you have before the inevitable bear market hits your bags hard.

That's why we made the "Where are we in the cycle?" indicators. This newly upgraded page now features live, interactive charts that are updated daily so you never have to wonder if the top is in.

If you're an All Access Member then you've already got access, if not, you can upgrade here.

📚 WEEKLY RESEARCH

HyperEVM: Airdrop Season Inbound

The biggest winner of this cycle is Hyperliquid, and now the long-awaited airdrop season has started - or at least the first phase of it.

My plan is simple: farm everything, and follow every single lead. This is an untapped ecosystem.

Why? Because this could be the Solana airdrop season all over again.

Reminder: people farmed life-changing bags just by making a few swaps on platforms like Jupiter - and that was in the bear!

And here’s the kicker - onboarding friction is bullish. Big wallets will put in the time, while casuals get filtered out because they couldn’t be bothered to take 10 minutes to learn the thing.

Don’t be a casual!

Immediate Action Items

Ok degen, two moves to make here:

1/ Sign up for PRJX, do a few swaps, consider an LP.

One of my fave projects on HyperEVM, they opened up a cross-chain DEX. The best part is you can now bridge from Base or most major chains to HyperEVM at some of the best fees available - a huge W for onboarding! PRJX has an ongoing points system and more developments to come. Personally, I have a small bag LP’d on one of their high-earning pairs (UPUMP-HYPE).

2/ Sign up for BasedOne, do some perp trades.

BasedApp is top 25 in revenue on the 30-day and using it also farms Hyperliquid. Users are set for 3-4 more partner airdrops before it launches its own token, so I’ve moved all my perps activity here. However, user beware as the platform is now being accused of inflating their first airdrop ($PUP, which did 100x after a few days). I’m going to keep using it for now, but will watch as this situation unfolds.

💼 DEGEN TRADES

Spot trades

$LIKES: Bought + Sold. A sharp community member flagged this in Discord. It’s a Farcaster-TikTok integration where creators monetize natively. Picked up a small bag at $1.3M cap but sold for a small loss after it fell below that.
PUMP Trenches: Last week I bragged about my win on $STREAMER… and I should’ve quit while I was ahead. Got chopped chasing the next runner and gave back ~30% of my profits. Fully out of the pump trenches now, no more trench degen for me.

Uh-oh, the rest of this report is for Degen PRO and All Access Members only.

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