Empire Hivemind: Don’t Sleep on Ethena, Bull Case for Galaxy & The Hyperliquid Future
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Aug 7, 2025 The discussion kicks off with a critical analysis of the recent market pullback and bullish signs emerging. Ethena and USDe are highlighted as promising investments for the future. Attention then shifts to Galaxy Digital's intriguing data center venture, positioning it as a sleeper AI play. Hyperliquid's prospects are explored amid regulatory risks and future potential with HIP-3. The hosts emphasize the importance of self-custody and discuss the evolving IPO landscape versus tokenization, rounding out a lively and informative conversation on crypto markets.
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Mixed Signals Suggest Short-Term Caution
- Jason Yanowitz sees many positive signals like digital asset treasury companies and upcoming ETFs.
- Despite good news, market price doesn't react as expected, indicating short-term caution is wise.
Market Grows Beyond Big Buyers
- The crypto market is evolving beyond reliance on large individual buyers.
- This broader liquidity is a bullish sign for sustainable price growth.
Ethena's Unique Market Position
- Ethena is uniquely positioned at the intersection of data and stablecoin narratives.
- Institutionalization trends could drive significant growth for Ethena.