As we mentioned in our last couple of newsletters, we may be approaching a key inflexion point, crypto starting to decouple from tech stocks.
For years, many in traditional finance dismissed Bitcoin as a leveraged NASDAQ proxy, and for a while, the data didn’t disagree. But over the past week, we’ve seen something different: Bitcoin and Total 3 (the crypto market cap excluding BTC and ETH) climbed 6.5% and 2.86% respectively, while the NASDAQ slipped 0.5%.
This divergence comes against the backdrop of escalating trade tensions, which have triggered a run to hard money. Gold is already on a tear, and historically, when gold moves, Bitcoin isn’t far behind. The question now is: will this time be different, or is the market finally waking up to the fact that Bitcoin might just be the better gold?
Meanwhile, one of Digital Vision’s favourites hit a huge milestone. Maple Finance has officially crossed $1 billion in AUM, making it only the second company to manage more than $1 billion onchain. The only one ahead? BlackRock’s BUIDL fund, sitting at $2.5 billion. Just let that sink in. We’ll dig deeper into Maple’s rise and what’s next for the protocol in next week’s edition.
In this issue, we break down the week’s biggest blow-up, take a closer look at the increasingly competitive stablecoin market, and walk through the latest moves in the portfolio, along with the reasoning behind why we think these names are some of the best bets for this cycle.
- Cryptoverse: The Mantra Meltdown, Why Fundamentals Still Matter
- Digital Insight: The Stablecoin Market, Who Are The Big Players?
- DVDealings: Our Top 5 Picks Are Locked In
