• HYPE is the strongest actionable pick for on-chain derivatives exposure: consider scaling in, but treat $75 as the key risk level; a break below it would weaken the setup.
• DRV offers higher-risk exposure to growing on-chain options activity; the speaker cited potential entries near $0.31 and $0.22, with $0.22 as a stop level.
• ENA may benefit from tokenized-asset derivatives, but its cited 20%–30% funding rates are variable, not guaranteed; the speaker’s buy levels were $0.25 and $0.22, with a stop near $0.19.
• For decentralized-exchange exposure, consider UNI near $7.28 with a stop below that level, or AERO around $0.70; both depend on continued growth in on-chain trading.

Hyperliquid (HYPE)

• The speaker’s leading pick for exposure to on-chain derivatives and trading of traditional financial assets. Hyperliquid reportedly generated $56 million in monthly revenue, with most of it used to buy back HYPE.
  • Its HIP-3 upgrade enables trading in assets such as oil, stocks, and other traditional-market products. The speaker says this could make Hyperliquid less dependent on crypto trading activity.
  • The transcript says Kraken is building on HIP-3. Bitcoin and Ethereum are also cited as assets traded on the platform.
• The speaker compares the selective crypto market to the post-dot-com period, when Amazon recovered and grew while many technology companies did not. Amazon is an analogy, not a recommendation in this discussion.

Takeaways

• The thesis is that expanding into traditional-asset derivatives could broaden Hyperliquid’s market and revenue potential. That opportunity depends on the platform continuing to attract trading activity.
• The speaker identified $75 as a key level and said a break below it would look bearish to him. He described scaling into a position and using that level as a stop.
• He also discussed using leverage, including 3x or 5x, while explicitly warning that leverage amplifies losses. These levels and tactics are the speaker’s trading views, not guarantees.

Derive (DRV)

• Derive is presented as an on-chain options platform. The speaker contrasts options with perpetual futures: options can avoid liquidation from a temporary price wick, but are more complicated to trade.
• He said Derive’s total value locked and trading volume had been growing. He cited a market capitalization of about $376 million, compared with roughly $90 billion for Hyperliquid, describing Derive as higher-risk but with more upside potential.
• The speaker said Derive had risen sharply and was selling off, and expected it might test support.

Takeaways

• The investment thesis is growth in on-chain options as more sophisticated traders use them.
• The speaker discussed possible entry orders around $0.31 and $0.22, and identified roughly $0.22 as his stop level, with $0.21 described as a key breakout level. These are chart-based levels, not price targets or assurances.
• Options were described as more complex than perps; the transcript does not provide further risk details specific to Derive.

Ethena (ENA)

• The speaker describes Ethena’s yield strategy as a “cash and carry” trade: holding an asset while shorting a related futures position to seek funding-rate income.
  • He says funding rates can sometimes be 20%–30% annualized. This is an example of rates that can occur, not a promised or stable yield.
  • He says Ethena is partnering with Binance to extend this approach to tokenized stocks, commodities, and other real-world assets.

Takeaways

• The thesis is that Ethena could benefit if on-chain derivatives and tokenized real-world assets grow.
• The speaker discussed possible buys around $0.25 and $0.22, and said he would use about $0.19 as a stop level.
• The cited funding rates are variable and should not be treated as a forecast of Ethena’s future returns.

Uniswap (UNI)

• Uniswap is presented as one of the dominant decentralized exchanges in the Ethereum ecosystem.
• The speaker expects major decentralized exchanges to benefit from on-chain trading and tokenization across Ethereum, Base, and the proposed Robinhood chain.

Takeaways

• The investment thesis is broad exposure to on-chain trading activity through a major decentralized exchange.
• The speaker identified $8.60 as a key chart level, mentioned scaling orders near $7.28, and said he would use a break below that lower level as a stop.
• These are the speaker’s stated trading levels; the discussion does not establish that Uniswap will benefit automatically from growth in tokenization.

Aerodrome (AERO)

• Aerodrome is described alongside Uniswap as a leading decentralized exchange, with exposure to on-chain trading and tokenization across Base, Ethereum, and the proposed Robinhood chain.

Takeaways

• The speaker’s thesis is that a major DEX could benefit as more assets and trading move on-chain.
• He described $0.70 as a level near which he would look to buy and said losing that level would feel bearish to him. He favored cutting a trade quickly if it was not working.
• No longer-term price target or timeline for Aerodrome was given.

Canton Network (CC)

• The speaker characterizes Canton Network as an institutional-focused blockchain with direct connections to the New York Stock Exchange’s clearinghouse.
• He calls it a “long, slow cook,” saying the narrative may not yet be reflected in its price.

Takeaways

• The thesis is potential institutional adoption, rather than a near-term price catalyst.
• The speaker cited $0.12 as a key level and said he would not want to see the price fall much below $0.10, which he identified as his stop.
• The discussion gives no adoption metrics or timeline to confirm when the institutional thesis might be reflected in the market.

Ondo (ONDO)

• Ondo is presented as a real-world-asset tokenization play. The speaker says it partnered with BlackRock to support tokenization.

Takeaways

• The thesis is that Ondo could benefit if tokenized real-world assets gain traction.
• The speaker said the token had regained a level around $0.47, describing $0.46 as a bull-or-bear line. He also said he would not want it to fall below a prior wick low, but did not give a price for that low.
• The transcript does not specify a timeline or quantify the expected impact of the BlackRock partnership.

Backpack Exchange (“Maroonie”; ticker not specified)

• The speaker calls Backpack a “gem” and says it is doing much of the tokenization on Solana. He views it as a way to gain exposure to Solana-related on-chain trading.
• He says it was not available to trade on Liquid, but could be found on Solana or other exchanges. The transcript does not identify a specific Backpack token or ticker.

Takeaways

• This is a qualitative, early-stage thesis tied to tokenization and the Solana ecosystem; the speaker gave no price levels or valuation.
• The transcript does not provide detailed evidence for the claim about Backpack’s tokenization activity, so that point should be treated as the speaker’s view rather than independently established here.

SuperVerse (SUPER)

• The speaker says SuperVerse, which he founded, has historically focused on gaming and NFTs and is planning a major change. He hints at an undisclosed announcement in “several weeks” and links the project’s future to a new direction involving “super intelligence.”
• He says a new team has been assembled during the bear market, but does not reveal the project’s plans or specific products.

Takeaways

• The thesis depends on an upcoming strategic shift that was not explained in the transcript. Without details, it is difficult to assess the project’s prospects.
• The speaker disclosed that he founded the project, an important potential conflict of interest to consider when weighing his positive comments.
• No entry price, stop level, or valuation was provided, and the speaker explicitly says there are no guarantees.