Binance – The Everything Ecosystem
Executive Summary BNB, the native token of BNB Chain, has reinforced its position as one of the top-performing assets in crypto, reaching an all-time high of $1,210 on October 6th, 2025 with a fully diluted market cap of US$168.6 billion. Its growth is underpinned by...
Bitcoin US$650,000 – CHAINLETTER 66
A look at bitcoin valuation through the lens of inverse volatility. A look at the Inverse Volatility of bitcoin and gold suggests to us that in relative terms bitcoin is massively undervalued. With gold at US$3,881/oz, bitcoin should be around US$650,000, a five-fold increase from here. Even if you disagree with the detail, that’s a huge margin of safety. Take a look at the calculations and let us know what you think.
The Signal We’ve Been Waiting For – Digital Vision 17
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...