timdaub
@timdaub.eth
right: ETH, left: memecoin Memecoins aren't leveraged ETH for the simple reason that they're not holding ETH's price level. DEGEN has been headed down further, while ETH hasn't. It seems they do amplify directional momentum though. E.g DEGEN went up quite significantly with the 20% ETH ETF pump on May 20th. Still, wouldn't have holding literal leveraged ETH performed better over the last 3m here?
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kenny 🎩
@kenny
DEGEN def not leveraged ETH DEGEN is leveraged Farcaster equity
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timdaub
@timdaub.eth
Highly misleading. What does DEGEN still have to do with Farcaster? It launched an L3 and went on all sorts of random side quests. Also, it has made Farcaster significantly worse over the last months and the Farcaster team has actively worked to mitigate the damage. Farcaster has been up into the right top corner stats wise. DEGEN has been going in the inverse direction 🤣
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