$BTC - Bitcoin positioned to benefit from increasingly multipolar world order and potential use in international trade settlements, with Iran potentially charging tolls in Bitcoin.
$HYPE - Hyperliquid expanding beyond perpetuals into prediction markets and unified spot margin accounts, with strong performance despite key management risks.
$ENA - Ethena diversifying yield sources beyond carry trade and seen as underowned with USDE supply hitting a floor, creating potential for growth.
$VENICE - Venice AI showing strong growth with Claude's API changes potentially driving more users to frontier models, positioned as one of the more interesting AI plays.
$ZCASH - Zcash showing strength recently despite being down for the year.
Bearish:
$SOL - Solana showing notable weakness compared to other cryptocurrencies, potentially impacted by Drift hack and Multicoin LP redemptions forcing sales.
$SPACEX - SpaceX likely to trade below IPO valuation due to massive size and limited buyer demand in public markets.