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Weekly Beluga Insights

Lo and behold, the one day we don’t get any random tariff news from the President, the markets are green. It’s a long-accepted concept that uncertainty is bad for markets, and the last couple weeks have only reinforced this with the S&P dropping over 10% in just a month. Today however took Bitcoin back over $84k with a number of altcoins catching a double-digit percentage gain as well, namely Sonic and Hyperliquid which are both up over 13%.

No more tariff talk may only have been part of the bounce as yesterday saw the Senate Banking Committee vote 18-6 in favor of a bill (despite Elizabeth Warren’s complaints) that would regulate stablecoins, paving the road for further institutionalization of this asset class. Stablecoins definitely aren’t the sexiest piece of crypto especially for traders looking to make money, but the reality is they’re one of the strongest value propositions of blockchain technology. Global, instant settlement with virtually no fees is where the world is going.

Major Movers of the Week

Public Trading Wallet Update

It feels like we’ve aged a few years over the last few weeks, however the Beluga trading wallet is still kicking. Am I thrilled we are back to $100k? Nope, certainly not. But when I look at the sea of traders, many of which I deeply respect, who have wiped their portfolios clean through the tariff volatility, I’d say that our alt-centric portfolio has held up pretty impressively well. Part of this is due to concentrating our realized profits on trades like Sonic and CRV back into Bitcoin and Ethereum rather than into other altcoins, which admittedly performed far worse than had we kept in stablecoins, however we’re in a far better spot than had we held everything.

To put this in perspective, of the top 100 coins by market cap, over half are down more than 50% in the last 90 days. We haven’t seen wealth destruction in this space for some time, so the name of the game here really is survival. A wise man once said that if you survive long enough in crypto, you’ll have no choice but to make it — its important to remember this concept through market periods like we have now.

Tweet of the Week

Is it finally time for ETH maxis to rise up?

Recent Beluga Content

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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