Analyzing the Crypto Majors: From ETF Inflows to Solana REV

Jul 21, 2025

The conversation dives into Bitcoin’s impressive momentum and the intricate dynamics behind ETF inflows. Ethereum’s evolving narrative is highlighted, showcasing its potential as a Bitcoin alternative. They also discuss Solana's recent revenue decline and the challenges it faces. Additionally, there's an exploration of treasury companies' crypto strategies and the resurgence of ICOs with exciting new token launches. Overall, it’s a lively examination of the shifting landscape in the crypto world.

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INSIGHT

Bitcoin ETF Inflows & Exchange Squeeze

Bitcoin exchange reserves are nearing a squeeze as BTC held on exchanges drops significantly.
Massive ETF inflows, notably from BlackRock, drive price momentum towards new all-time highs.

INSIGHT

MicroStrategy's Bitcoin Leverage

MicroStrategy holds nearly 3% of all Bitcoin, but its debt level is under 10% of enterprise value.
The company's leverage is not as risky as commonly perceived, suggesting sustainability in its Bitcoin strategy.

ADVICE

Caution on Small Treasury Codes

Beware retail traps from smaller treasury companies diluting shares to fund crypto purchases.
Monitor risks of forced asset sales if funding or market conditions deteriorate.

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In this episode, we discuss Bitcoin’s momentum, Ethereum’s narrative shift, and Solana’s decline in REV. We also examine treasury companies’ crypto strategies, and the resurgence of ICOs, spotlighting Pump’s recent token launch.

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As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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Timestamps:

(0:00) Introduction

(2:20) Market Outperformance

(6:53) Bitcoin Activity Update

(13:41) Ads (Katana & Ledger)

(14:18) Bitcoin Treasury Companies

(27:51) Ads (Katana & Ledger)

(28:56) Ethereum's Turn Around

(36:49) Marinade Ad

(37:21) Outlook on Solana

(52:34) Thoughts on PUMP

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed