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Warning: This is your last chance to see my reviews of the Top 50 altcoins.

Some are already going stale, so I’m taking them down this week. Swing by the list if it’s still there when you read this post.

Also, make sure you got my Danger Zone chart. I update this chart several times each week. Keep it bookmarked!

But that's not why you're here. You're here because you want the genuine insights and candid analysis that you can only get from my market updates.

In this week’s update, I shared the evidence that last weekend’s meltdown was normal. I also pointed out a key market risk relating to USDC, shared a trade opportunity for $HYPE, and gave you more evidence that all is not as it seems.

If you missed that update, get it now.

I see a lot of attention going to Elon and Trump. They're important, but we have bigger fish to fry. We're looking at things that matter more for your crypto portfolio than whatever they're doing.

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Chart of the Week

Memecoins don’t belong on stock exchanges

You will never hear me say stocks have intrinsic value.

They don't. Manifestly. They’re created out of thin air.

Their prices reflect the vagaries of the market and speculative enthusiasm, with zero relation to the substantive value of the business, its profitability, or any objective, quantifiable metric.

The stock market allows corporations to raise cheap capital to compensate their executives and subsidize business operations. It's hard to build a profitable business. It’s easy to raise money from people who think they can sell their stake in your business for more than they paid for it.

To keep the flywheel going, those businesses kick back rewards through dividends, buybacks, and other perks. On top of that, millions of American workers receive a tax break for putting money into the stock market. People and other countries believe US financial markets have more upside and less risk than their own.

What’s the upside?

Entrepreneurs and go-getters can leverage the stock market for activities that deliver actual economic value.

Can the same be said for memecoins?

If I create a memecoin, sell it for $1 million, and then buy things with the proceeds, I contribute $1 million to the real economy.

If I create shares in a corporation, sell those shares for $1 million, and then put that money into my business, I contribute $1 million to the real economy.

Does that $1 million carry less benefit to society because I spend it on other people's businesses rather than my own? Do we assume that the thousands of unprofitable businesses that trade on the stock market have more value than the thousands of unprofitable memecoins?

These are hard questions to answer. There's no right or wrong option.

Think about this now because the next wave of Wall Street products will revolve around meme coins, dead altcoins, and tokens that do nothing. Byron Gilliam explains further in an interesting post, “Memecoins don’t belong on stock exchanges.”

Trump-backed World Liberty Financial courts crypto teams for token swaps 

Bottom line: WLF unveiled a new business model. Protocols can pay a 10% fee to appear in its on-chain portfolio on a first-come, first-served basis, in exchange for an equal amount of WLFI tokens upon launch. Justin Sun already booked $75 million for TronDAO.

My take: It's a good thing the blockchain brings transparency. Otherwise, people would think that Trump and his people genuinely believe in the tokens in the WLF wallet. Now we know they’re getting paid to put those tokens in there.

They call it a “swap” because the participants will get an equal amount of WLFI—but WLFI doesn't exist yet, and when it does, it will be literally pulled out of thin air (like all cryptocurrencies).

In other words, WLF is making money from two sides:

1. Taking an up-front 10% cut from every partner.

2. Betting you will bid up the price of WLFI high enough for them to repay their partners before they run out of tokens or before the token’s price crashes so low that they can’t sell enough to cover the payouts to their partners.

Why we care: Everybody else will tell you, “Trump supports this project” or “The President’s holding this token!” but you and I will know the truth. Those tokens paid for their placement. Essentially, they bought space on the metaphorical WLF billboard.