Some Mid-Year Thoughts It’s two weeks into July, and unexpectedly, this month has been incredibly strong. To be honest, I thought we’d just be getting Bonk Szn for the rest of the summer and that general equities would start running in Q4. But it seems like this year, BTC treasury companies are front-running seasonality, fueling this run-up. BTC has been an absolute beast, making new ATHs supported by constant high inflows into the BTC ETF, mainly from BlackRock. This ATH run-up brought alts and trenches running together. Although volume in trenches still isn’t what it was pre-Trump era, with the Bonk Launchpad coming in hot, things are heating up. Surprisingly (or not, really—seems like the worst of summer is behind us), we’re getting multi-million-dollar runners daily. Just last week, trenches sentiment was lukewarm while waiting for the $PUMP public sale. Very interesting now seeing how the raise sold out almost instantly yet we're still seeing @bonk_fun dominance more than double that of pumpfun. Day to day we're seeing over 500m volume on bonk and all major runners with this companion meta on the launchpad. I really like what Bonk is doing—for all the reasons the Bonk guy explained well here. It's a clear example of doing all the right things to stay competitive in the market, while focusing on building up the platform rather than tearing others down. TLDR: Bonk’s system is very laissez-faire and focused on giving back to the ecosystem—buying Bonk, supporting creators, and fostering growth. With current metrics, it’s hard not to see $BONK as undervalued from a business perspective. At the very least, Bonk should be worth 2x based on base metrics alone. Curious to see how this tweet ages in the coming months as things shift and dev momentum builds (if?). Still early days. They understand the trenches because they are from the trenches (shoutout to @SolportTom—he’s everywhere, and that kind of community engagement matters). The best thing about the Launchpad is how well they support coins—and how open they are about it. They actively post that if you're running a serious project, they want to talk and help take things to the next level. This could be the start of a new paradigm in coins/trading—actually working openly with launchpads to spawn more runners. It’s great to see the Bonk ecosystem running hard with the new blue chips like $USELESS, $BONK, $HOSICO, $IKUN, $GP, and some new runners like $ANI, $AGI, $EAGY, and $RUDI.