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Weekly Beluga Insights

Despite hundreds of millions in liquidations on leveraged crypto positions this week, at time of writing we’re trading at virtually the same prices as last Friday. With the new tariff policies on foreign countries now confirmed by the White House, things could get more interesting quickly though: whatever your thoughts on this new tariff setup are, it shows the new administration is looking to significantly change things rapidly which will certainly have effects on price action in crypto. Whether positive or negative, we’ll have to see.

Something else to note in the market is how rapidly liquidity is shifting from coin to coin, with something new going from 0 to $200M market cap and back to 0 within hours every day at this point. In other words, onchain trading is getting frothy which tends to be a sign that there will be a rotation in the meta sometime soon. With the gateway for institutions to meaningfully participate in crypto for the first time in history, I’m inclined to believe that’s the direction the market attention will move.

Major Movers of the Week

Public Trading Wallet Update

The Beluga wallet’s holdings have risen a bit since last week with a current value of just over $145,045, up 45% from our $100k start. This also doesn’t yet reflect our PLUME holdings, as the price feed is not yet available via our API — since our entry at $0.12, PLUME has risen to trade at $0.16 for a 30% gain so far.* We have also now officially bridged all of our FTM to their new Sonic chain, so the proper value is now reflected on the dashboard. Despite Sonic’s TVL picking up with around $300M onchain so far, the price action has not been kind since the upgrade. Increasing TVL tends to be a good marker for future performance, so as long as we continue to see that rise I’m still comfortable riding out our bet on the ecosystem.

Despite rumors that Berachain would finally be launching on the 28th, it’s now January 31st and it is still nowhere to be found. At this point it seems nobody really knows when this is coming but from the team’s recent communications, it has to be soon. It’s not an exaggeration to say crypto natives have been waiting for this for years, so I expect it to be the launch of the quarter if not the year.

Tweet of the Week

It has now been 8 weeks since Hawk Tuah said she was going to sleep and would be back soon…

Recent Beluga Content

Free BONK Report from Fundstrat Research

Interested in learning how the institutions are looking at your favorite memecoins? Download a free report from Fundstrat Research on BONK and the memecoin landscape below!

Disclaimer

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR