Market this week was pretty quiet. Most narratives had zero liquidity that tokens would pump then dump in one candle. BTC just sat there sideways.

The only real thing that stood out was the Robinhood Chain $Catcash wave + tokenized equity picking up steam.
But it also made me think: how much of this is actual ownership vs just synthetic stuff? And where’s the real long-term alpha?
Went deep on both in this week’s issue.
Full post here 👇