Crypto is Bottoming. We’re About to Go Much Higher.

Summary

Taiki Maeda returns from his honeymoon with a refreshed, optimistic market view. He explains why the crypto market is bottoming and outlines his long positions in perp DEX tokens HYPE and LIT, driven by RWA perp adoption and buybacks, and in Zcash (ZEC), citing recovery from a vulnerability scare and macro narratives. He also discusses airdrop farming and portfolio construction.

• Portfolio update: overweight HYPE, LIT, ZEC.
• Market cycle view: real euphoria peaked in July, suggesting a year-long bear market and a bottoming process.
• Perp DEX thesis: growth driven by trad-fi retail adoption of RWA perps, with HYPE and LIT leading via HIP3 and Robinhood partnership; supported by token buybacks.
• Zcash thesis: 60% dump on exploit fears was a shakeout; Ironwood upgrade adds quantum proofing and formal verification, enabling narrative revival.
• Macro flows: Bitcoin faces Saylor selling and quantum concerns, potentially benefiting Zcash as a complementary privacy asset.
• Farming approach: using Variational for airdrop points to gain convexity on future perp DEX tokens.
• Risk management: holding a cash buffer and sizing more conservatively after recent losses.