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Persona Insights

11 May 2025

🗓️ The Week Crypto Went Mainstream

This email is for informational purposes only and not financial advice. Always consult a financial advisor.

Note: A glossary is available at the bottom of the report that explains any technical terms used.

🚨 Crypto News 🚨

🏛️ New Hampshire Establishes First U.S. State Crypto Reserve
In a groundbreaking move, New Hampshire has become the first U.S. state to create a cryptocurrency reserve. Under newly passed legislation, the state treasurer is authorized to allocate up to 5% of public funds into digital assets with a market capitalization exceeding $500 billion — currently including only Bitcoin. This initiative positions New Hampshire at the forefront of state-level crypto adoption and may inspire similar legislation in other states.

💼 Coinbase Acquires Deribit in $2.9 Billion Deal
Coinbase has announced the acquisition of Deribit, a top crypto derivatives exchange, for $2.9 billion in a cash-and-stock deal. The acquisition strengthens Coinbase’s dominance by giving it a strong foothold in the derivatives market — expanding its reach beyond spot trading and enabling access to futures and options for institutional and retail clients alike.

🇺🇸 Vice President JD Vance to Speak at Bitcoin 2025 Conference
U.S. Vice President JD Vance will speak at the Bitcoin 2025 Conference in Las Vegas on May 28 — marking the first time a sitting VP has publicly endorsed Bitcoin. His appearance reflects the growing political significance of crypto and the rising bipartisan interest in blockchain innovation and monetary alternatives.

💎 Hidden Gems 💎

(Most Mentioned Low Market Cap Coins)

🦴 Bonk ($BONK)

What users are saying:
Bonk has re-emerged as a standout in the memecoin category. Despite market volatility and skepticism from veterans, the coin's community is as active as ever. Traders are seeing renewed interest from influencers and even traditional finance figures — a sign that BONK’s cultural footprint is growing beyond crypto-native circles.

💬 BONK is what I am currently longing.

💬 Taiki gave up on DeFi to shill BONK — that tells you everything.

🦔 Hege ($HEGE)

What users are saying:
Hege Coin is gaining visibility across meme-focused communities. While still early in adoption, the quirky hedgehog branding and grassroots attention have helped it carve a niche. It's being shared widely for fun — and holders are starting to take it more seriously as a speculative gem.

💬 Low cap, high conviction — the memes are just part of it.

💬 Hege’s community keeps pushing, even when the market is quiet.

💰 Most Mentioned Coins 💰

(excluding Bitcoin & Ethereum)

🔗 Chainlink ($LINK)

What users are saying:
Chainlink topped the conversation this week as users praised its foundational role in decentralized finance. With real-world asset tokenization gaining momentum, many are recognizing LINK as the quiet infrastructure player behind the scenes. Unlike many hyped coins, its utility narrative is strong and maturing.

💬 Every time there's news about tokenized assets, LINK is in the mix.

💬 LINK isn’t flashy — it’s essential.

🔥 Solana ($SOL)

What users are saying:
Solana continues to build momentum, buoyed by its low transaction fees and developer-friendly environment. After weathering past skepticism around outages, users are again praising its performance, especially in comparison to Ethereum's costs and congestion.

💬 SOL is showing crazy speed and fees — ETH better watch its back.

💬 Everything is launching on Solana lately.

🎮 PumpBTC (Governance token) ($PUMP)

What users are saying:
PumpBTC remains one of the most controversial names on the list. Some users see it as just another short-term hype play, while others view it as a potentially serious project tied to DeFi on Bitcoin. Its ability to stay in conversations — love it or not — shows it's getting noticed.

💬 This feels like retail charging in while institutions sell.

💬 TA is pointing bullish but it still feels fragile.

💸 XRP ($XRP)

What users are saying:
XRP is polarizing but persistent. Its reputation for centralization remains a sticking point, but recent legal clarity and discussion about its integration in financial systems have kept it relevant. Many view it as a hedge against traditional banking inefficiency.

💬 Holding XRP is just part of the long game.

💬 Still the wildcard in the banking system.

🧠 Cardano ($ADA)

What users are saying:
Cardano's community is holding strong despite a quieter news cycle. Long-term holders emphasize the methodical development and peer-reviewed tech, while others worry about price suppression. ADA might not dominate headlines, but its ecosystem continues to grow.

💬 Cardano devs may be slow but the ecosystem is solid.

💬 Prices are manipulated — no way ADA isn’t affected.

👀 Active Posts 👀

🔍 Liquidity Is King
A high-engagement post broke down global macro liquidity using a “marble gutter” metaphor. The idea is that Bitcoin, as a fixed-supply asset, benefits the most when liquidity expands globally — since fiat-based systems continuously debase currencies through printing. The post sparked deep macroeconomic discussion on inflation, monetary theory, and decentralized alternatives.

🇯🇵 Strive Capital Buys $1B in Bitcoin
Ohio gubernatorial candidate Vivek Ramaswamy’s fund, Strive Capital, announced a $1 billion BTC treasury purchase and plans to go public as a Bitcoin-focused asset management firm. Many are calling this a game theory domino in motion, likening it to MicroStrategy's early moves, but at even larger scale.

📊 Bitcoin Hits $100K Again
Bitcoin briefly surged past $100,000 this week, marking a key psychological and historical level. While some believe this could be a new floor, others warn that media hype and derivative leverage might make this a temporary top. Still, sentiment across social media is overwhelmingly bullish — with some calling this the “last chance under 100k.”

⚠️ Debate Over Infinite Growth
In response to liquidity discussions, several users challenged the long-term sustainability of an economy reliant on constant expansion. Many posts mocked traditional metrics and inflation figures as propaganda, reigniting distrust in central banks and economists.

👨‍⚖️ Major Clawback Scandal Sparks Exit
After revelations about a clawback scheme involving a failed crypto company, several users shared how they’ve fully exited custodial platforms. This scandal involved alleged insider payouts and manipulative restructuring, leading to cynicism and calls for greater transparency and DeFi alternatives.

📈 Market Sentiment 📈

📊 Overall Market Sentiment:

The crypto market is showing renewed bullishness driven by institutional headlines (Strive Capital, $100K BTC), while macro factors like U.S. tariffs and falling confidence in American assets contribute to increased interest in crypto as a hedge. That said, many users remain cautious about overleveraged longs and the possibility of a sharp correction.

💬 “It feels more earned this time. This 100K has weight to it.”

🟠 Bitcoin Sentiment:

Bitcoin’s climb back to six figures has reignited both optimism and anxiety. Supporters see this as a validation of long-term theses — especially those focused on liquidity and monetary debasement — while others point to aggressive whale selling and possible traps for latecomers. Derivative funding rates are rising, and traders are divided over whether this breakout is sustainable.

💬 “101K. Top this cycle might be 200–250K. Simple math.”

🟣 Ethereum Sentiment:

Ethereum is viewed more cautiously. While still a cornerstone of DeFi, ETH is not capturing the spotlight like LINK and SOL this week. Many users feel ETH’s price movement is lagging relative to its utility. Optimism exists around future scaling improvements and potential regulatory clarity in the U.S., but there's a growing sense that Solana is winning the "speed war" for now.

💬 “ETH has utility, sure, but it’s being overshadowed lately.”

📚 Glossary 📚

🧠 Oracle
A service that feeds real-world data into a blockchain, allowing smart contracts to interact with external events (e.g., price feeds, weather, sports scores).

🚀 Tokenization
The process of converting rights to an asset (e.g., real estate, stocks, gold) into a digital token on the blockchain.

🪙 Memecoin
A cryptocurrency based on an internet meme or joke, often created more for fun than function. Examples include Dogecoin, Shiba Inu, and Bonk.

🌊 Liquidity
The ease with which an asset can be bought or sold without affecting its price. High liquidity = low slippage and tighter spreads.

📉 Clawback
A provision where distributed funds can be forcibly returned, often in bankruptcy cases or fraud proceedings.

📊 DeFi (Decentralized Finance)
A system of financial applications built on blockchain technology that operates without traditional intermediaries like banks or brokers.

📈 Technical Analysis (TA)
A method of evaluating investments based on past price movements and chart patterns rather than fundamentals.

🧱 Layer 1 / Layer 2
Layer 1 refers to base blockchains like Ethereum or Bitcoin. Layer 2 solutions build on top of these networks to improve scalability and reduce fees (e.g., Arbitrum, Optimism).

📎 Smart Contract
Self-executing code stored on a blockchain that automatically enforces agreements when preset conditions are met.

🔓 Custodial vs Non-Custodial
Custodial platforms (e.g., centralized exchanges) hold your private keys. Non-custodial means you control your assets directly via wallets like MetaMask or Ledger.