Ideas
Bitcoin okay long term, flows returning
Bitcoin looks generally okay; flows and appetite are returning versus Q4. He would prefer not to see bad candles but is not rushing tactical trades. For a 2-5 year horizon, buying here or on a retest of Saylor's average around 75K will not make much difference.
Hyperliquid fundamentals resilient as price falls
The lower Hyperliquid goes, the more interested he is as a place to put stables. Fundamentals are resilient: volumes and open interest are down from highs, but revenue sources are stable or growing, with a conservative $750M annual run-rate and HIP3 opportunities. Long-term holder distribution and churn are healthy.
Solana set for turnaround year
He expects 2026 to be a turnaround year for Solana and still feels good owning it as his primary L1 token.
Zcash benefits from returning privacy narrative
Privacy is returning as a narrative. Zcash sits in a hybrid position: it has a freedom and individual liberty angle, more institutional willingness than Monero, a potential Bitcoin hedge and quantum-tech angle, and shielded pools make coins less quantum hackable. He owns Zcash.
Bitcoin uncorrelated, long-term digital bearer asset
Bitcoin is now its own uncorrelated asset, which makes it attractive for investors as a portfolio diversifier. The long-term use case is clear: a digital, non-sovereign bearer asset. Short and medium-term price drivers remain hard to predict.
Pump revenue makes it fundamentally cheap
Pump is a revenue-generating business with some moat and relative cycle resilience. Even with weak trenches, 30-day revenue annualized and buybacks imply about 5x FDV. Buybacks do not offset flows and the one-year anniversary could be a headwind, but fundamentals look good.
Ethena provides short-side liquidity for perps
Onchain equity perps can let Ethena do basis trades and provide short-side liquidity because it holds spot and shorts perps. As most equity perp users prefer to be long, Ethena's short leg becomes a productive source of sell-side liquidity.
Onchain equity perps benefit perp DEXs
The move to 24/7 onchain equity trading will be net beneficial for perp DEXs. It should improve after-hours and weekend pricing and funding rates, help market makers hedge onchain, support options and basis trades, and deepen liquidity for equity perps.
Lighter strong product, needs transparency
Lighter has a good product and talented team that built in-house RWAS perp, spot, and bridge, avoiding value leakage. Its US base and regulatory engagement position it to dominate the US perp market. New options, unified margin, and net interest margin are high-margin business lines. The main caveat is poor tokenomics and financial transparency, and market-maker staking or fee increases could hurt liquidity.
Solana perp DEX market wide open
The Solana-specific perp DEX market is wide open and will have a winner because many Solana users prefer trading perps on Solana. He sees that as its own opportunity; Bulk has a testnet, and the larger prize is competing with Hyperliquid.
Monero pure privacy play, plans buy
Monero is the pure privacy play and is associated with criminal activity, which supporters argue shows it works. It could outperform, though it may struggle to attract institutional money. He plans to pick up Monero.
This Empire video, published January 22, 2026,
features Jason Yanowitz, Ceteris, Yan, Flip
discussing BTC, HYPE, SOL, ZEC, PUMP, ENA, Perp DEXs, LIT, Solana perp DEXs, XMR.
11 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Jason Yanowitz,
Ceteris,
Yan,
Flip
· Tickers:
BTC,
HYPE,
SOL,
ZEC,
PUMP,
ENA,
Perp DEXs,
LIT,
Solana perp DEXs,
XMR
