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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kenny 🎩
@kenny
you realize that first parabolic curve in February was kick-started by DEGEN right?
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ciefa 🐌 eth/acc
@ciefa.eth
The L3 was a mistake imo
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↑langchain 🎩
@langchain
Degen served the speculative “bring users in” use case but needs to do something beyond the odd L3 imho
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↑🎩runn3rr
@runn3rr
Hardly disagree DEGEN and other tokens are doing phenomenal job of attracting organic users Also it is very simple to onboard even not crypto people to FC with DEGEN and other social games Current DAU seems like just growing amount of bot farms, who come for not confirmed FC airdrop, that brings nothing to fc and even destroy it, read about recent problems with hubs
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