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Fundstrat Solana Report

Our partners at Fundstrat, a leading market strategy and sector research fund, have just released their report on the cutting edge technology being developed on the Solana blockchain. They have also been kind enough to make it available to Beluga Brief subscribers for free!

If you’re interested in a deep dive into topics like the slide above, you can download the full report from the link below. You can expect more reports like this from our partners in the future, so be sure to stay tuned if you’re interested in getting ahead of the market!

Weekly Beluga Insights

As we head into the weekend, we wrap up one of the craziest weeks in crypto. Trump’s win in the US Election on Tuesday lit a fire under the crypto market, and we even saw Bitcoin reach new highs of $77,000. It’s funny to think only a couple weeks ago the sentiment among traders was as low as I’ve ever seen it, and today Solana is at $200 again — I’m sure there’s a lesson in there somewhere. Two years ago news that CZ of Binance had signed a letter of intent to buy FTX due to its insolvency surfaced, which of course did not go through; the ensuing collapse sent crypto into freefall with Bitcoin hitting $15,000. If you had bought the blood on that day, you’d be up over 400%.

I truly believe this is just the beginning of the bull market as I’ve been saying for months in this newsletter, and while it’s been a rough cycle for alt-coins that’s likely where things rotate next. Of course, as everything happens we’ll be here to update our readers on every thing they need to know, always for free.

Major Movers of the Week

Public Trading Wallet Update

Of course with BTC breaking into price discovery, this was a good week for the Beluga Trading Wallet. Our portfolio is pretty alt-coin focused which has been a difficult sector since we first launched the wallet in April, however I believe with the attention the industry now has and the liquidity from Bitcoin going up it’s time for alt-coins to shine. None of our positions have changed for a couple weeks now, but with $AAVE now up close to 100% since our entry it’s likely time to look to rotate some profits out. I still like DeFi as a narrative despite how the sector has underperformed this year, however it’s worth noting that DeFi will only come back as more institutions and sophisticated investors get on chain. The reality is 10-20% yields are not even somewhat exciting to the average crypto trader so the liquidity has to come from the big boys.

It’s undeniable that with a President-elect who is literally a DeFi founder himself, the regulatory regime that has stopped the growth of DeFi and crypto in general in the US is over. This is where things get really exciting, as I’ve personally seen countless ideas for new protocols thrown away because of fear of regulatory action due to being a US citizen. This isn’t how a budding industry with growth metrics like crypto should be treated, and I’m hopeful the next four years bring meaningfully positive regulations to the space.

Catch Up on What You Missed

• Caroline Ellison reports to Connecticut prison to begin 2-year sentence

• Polymarket open interest drops 64% after US presidential election

• Crypto CEO safe after being kidnapped and held for $1 million ransom

• Gary Gensler’s SEC’s war on crypto is over, ex-SEC official says

• What is the market saying about the Trump win?

Tweet of the Week

2 years ago today, one of the largest exchanges in the world collapsed bringing over $8B of customer funds with it — we’ve come a very long way to reach the prices we see today.

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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