Ryan Connor, a researcher at Blockworks, shares insights on macro cryptocurrency trends, while Carlos, known for his Solana commentary, dives into market microstructure. They discuss Solana's recent momentum and the impact of prop AMMs displacing traditional models. The conversation explores the vision of Solana as a decentralized capital market, the potential for tokenized stocks, and the importance of transparency in the evolving DeFi landscape. Key themes for 2026 include deepening liquidity and innovative equity perps, setting the stage for Solana's bright future.