Hey,
I’ve got a couple plays for the Alpha List this week that are a bit further out on the risk-curve. These are intriguing and could deserve a small bet in your portfolio depending on your risk tolerance and goals.
I am also breaking down where we are in the crypto cycle based on some historical onchain indicators.
lets dive into the tokens first:
Token Number 1:
Pump.fun $PUMP
Pump.fun just launched their $PUMP token, and it’s been a shit show. They raised $1.3B and the token immediately crashed 65%.
Usually this would scream red flag and I’d run but there is a bit more going on here and I think Pump could be under valued at these levels. Here are a couple key points:
FDV is at $2.6B, which feels frothy… until you look at the war chest.
They raised $1.3B (yes, with a “B”) and have $800M+ in revenue meaning their treasury alone is worth more than the token’s market cap.
Token unlock pressure is low. None for 12 months, except one Aug 1st batch for ecosystem stuff not immediate sell pressure.
Most investors got in at $0.004, and price is currently at $0.0025, so expect diamond hands until breakeven at least.
Sure, market share is stolen (ZORA exploded this week) and revenues have cooled off but this team isn’t one to sit on their hands. They’ve got the money continue building and growing and are still the leader in this vertical.
Why I like Pump
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