0xResearch Raydium vs PumpFun: Who Owns the Users? | Round Table
Apr 10, 2025
Jacob Sharples, known as 0xSharples, is a crypto analyst who dives into the competition between PumpFun and Raydium. They discuss how frontend design impacts user loyalty and explore Solana's governance challenges along with its fluctuating application revenue. The conversation shifts to Bitcoin’s resilience in the crypto landscape and its correlation with stock market trends. Additionally, they analyze the evolving dynamics of crypto trading and the importance of strategic token launches in enhancing user engagement.
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Bitcoin's Unique Market Resilience
- Bitcoin exhibits relative strength compared to equities and other crypto assets, positioning itself as a non-sovereign form of money.
- Its market structure with ETF flows has made it more resilient amid geopolitical turmoil and market volatility.
Bitcoin's Correlation with Equities
- Bitcoin's correlation with equities is high, especially during geopolitical events, reducing the belief in a full decoupling narrative.
- Price movements on weekends can create perceived differences compared to equities due to trading timings.
Ethereum as ‘Intel’ to Solana's ‘NVIDIA’
- Ethereum is losing its dominance to newer platforms like Solana, requiring a strategic pivot.
- Despite challenges, Ethereum remains a large, startup-phase asset with significant usage and is not dead yet.