Daniel Cheung @HighCoinviction Twitter profile

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Daniel Cheung

@HighCoinviction

1 year

A compilation of thoughts ⬇️

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Daniel Cheung

@HighCoinviction

2 years

Solana being down for 48 hours multiple times now makes me question the viability of a monolithic structure. It's clear the winning blockchain of the future will likely be one with a modular architecture. Bullish $ETH 2.0 🚀 & Cosmos Ecosystem.

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Daniel Cheung

@HighCoinviction

2 years

I believe that there is a massive short opportunity for $ETH at ~$1200 over the next 2 months. We still have not seen real capitulation yet and July / August are lining up to be potentially the worst months. Here is how I am thinking about things 🧵

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Daniel Cheung

@HighCoinviction

2 years

Looking like $2k or potentially lower on $ETH soon. Hell is coming.

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Daniel Cheung

@HighCoinviction

2 years

During senior year of college, I clocked in >200 hours counting cards in Blackjack at the local casinos and paid off a good portion of my student loans through this hobby. A 🧵teaching you how to count cards and why it ultimately makes you a better public markets investor. 1/

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Daniel Cheung

@HighCoinviction

3 years

Spending your time reading about Web 3.0 and learning solidity is probably the highest ROI thing you could be doing right now. College is useless, just buy $ETH. Not parental advice.

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Daniel Cheung

@HighCoinviction

2 years

$100 $LUNA soon. I fucking love @stablekwon , he needs to be in the top 100 most desirable men in the world for 2021.

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Daniel Cheung

@HighCoinviction

3 years

Cosmos is home to a booming $100bn+ ecosystem that includes Binance, Terra, and THORChain. Many overlook Cosmos due to misconceptions that value doesn't accrue to $ATOM. However, upcoming upgrades change this story and $ATOM will be at the center of the Cosmos ecosystem. 1/

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Daniel Cheung

@HighCoinviction

2 years

Obliterated. Thanks for playing - see you all next cycle.

Daniel Cheung

@HighCoinviction

2 years

Looking like $2k or potentially lower on $ETH soon. Hell is coming.

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Daniel Cheung

@HighCoinviction

3 years

Arweave is well positioned to achieve a $150bn+ valuation over the next 5 years, implying a 60x from current valuations of $2.5bn. Decentralized storage is the biggest but most overlooked theme right now making $AR possibly one of the best investments. Let me explain🧵

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Daniel Cheung

@HighCoinviction

2 years

Excited to announce that I have officially resigned from Tradfi and will be joining the Web 3 revolution. Thought I would make a thread introducing myself and my journey. My DMs are open now so feel free to message me - would be great to make some new friends🧵.

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Daniel Cheung

@HighCoinviction

2 years

$LUNA truly insane, one of the few names I would trust my entire portfolio with.

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Daniel Cheung

@HighCoinviction

2 years

I believe @altstatemachine is a >10x opportunity over a one month time horizon and is one of the best small cap plays in crypto. The project sits at the center of 3 megatrends: AI, Metaverse & NFTs. This has potential to be bigger than Axie Infinity LT. Let me explain🧵

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Daniel Cheung

@HighCoinviction

2 years

$LUNA breaking out here with an implied move of $90.

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Daniel Cheung

@HighCoinviction

3 years

Here is a compilation of all the major threads I have done in the past on "Principles of Investing" & "Fundamental Analysis of Crypto-currencies". I like to take concentrated long term bets and only invest in the highest quality names. Fundamentals > Hype Compilation below 👇

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Daniel Cheung

@HighCoinviction

3 years

With $AVAX making new ATH, my gut tells me $LUNA & $FTM are next.

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Daniel Cheung

@HighCoinviction

2 years

Lay of the land here for $ETH: Crypto believers - $1200 is the floor Smartest traders I know - Sub $1000 coming Tradfi: ETH is going to $300 / space is un-investable Crazy divergence, but all I get from this is the worst is likely not over.

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Daniel Cheung

@HighCoinviction

3 years

$ETH is undervalued at a $450bn mkt. cap Global cloud computing will be a >$1 trillion market by 2026 and the future of software is leaning towards decentralized compute & open source. $ETH will capture >80% of TAM given its network effects, and also accrue a monetary premium.

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Daniel Cheung

@HighCoinviction

2 years

$LUNA being resilient AF during this bloodbath. Very good chance this thing is the fastest horse on the rebound. LUNA is currently 60 percent of my portfolio, that’s how confident I am.

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Daniel Cheung

@HighCoinviction

3 years

$ETH & ETH-DeFi will have an unprecedented run over the coming months given: 1) ETH could flip BTC soon based on strong fundamentals 2) EIP-1559 is not priced in & low gas fees provide a good set up 3) Institutional flows remain strong Don't miss the forest for the trees👇

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Daniel Cheung

@HighCoinviction

3 years

I believe the market is currently failing to fundamentally price $RUNE. @THORChain should be viewed as an asset with L1 like potential, and there exists a massive upward re-rating oppt. should the market realize this. $RUNE is a 40% position for me. Here’s why I am excited 🧵

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Daniel Cheung

@HighCoinviction

2 years

$LUNA is the second coming of mankind.

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Daniel Cheung

@HighCoinviction

3 years

It's clear to me that we are headed to a multi-chain world. At the center of this world is the demand to move value between blockchains. $RUNE is not only the best way to express this thesis, it is the purest way of expressing it, which provides it a scarcity premium. 1/

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Daniel Cheung

@HighCoinviction

2 years

The largest bubble for Web 3.0 is still not behind us and will likely happen in the next few years. Here are my thoughts on: -The rise of Web 2.0 vs Web 3.0 -How early 2022 plays out and beyond History doesn't repeat, but it certainly rhymes 👇.

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Daniel Cheung

@HighCoinviction

2 years

Believing you can blindly bid $ETH & $BTC because it is at previous cycle ATH is stupid. Difference this time is macro is against you and we are in one of the most difficult market regimes of all time. It isn’t crazy if we go lower.

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Daniel Cheung

@HighCoinviction

3 years

People who view crypto as just a casino & gamble on meme coins are ruining the space. They siphon capital away from protocols that matter & scare real institutional $$s from flowing in. $ETH & DeFi fundamentals have never been stronger. People need to educate themselves.

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Daniel Cheung

@HighCoinviction

3 years

$SOL flipped $ADA today. I have no doubt $LUNA will too. November will be a big month, top 5 soon.

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Daniel Cheung

@HighCoinviction

2 years

At this point I’ve seen enough from DCG that you just have to materially account for a zero: - Removal of bios from web page - Senior management hiding updates / news from employees - No proof of reserves for Grayscale - Involvement w 3AC scheme - Inability to raise (my end)

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Daniel Cheung

@HighCoinviction

2 years

I actually don’t think the bottom is in yet. May take weeks / months before we see real capitulation.

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Daniel Cheung

@HighCoinviction

3 years

From getting on the whitelist to seeing what @OlympusDAO has now become is truly a once in a generation type thing. The movement is real: ETH - $OHM @$3.5bn AVAX - $TIME @ $1.7bn SOL - $IN @ $200mm FTM - $FHM @ $11mm $OHM will always be king.

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Daniel Cheung

@HighCoinviction

3 years

Anyone notice that $YFI TVL is now at 2.5bn? $YFI is now a top 3 earner in DeFi, and the fundamental story can no longer be ignored. No other DeFi blue chip is seeing growth like this, yet price has not moved for a while. $YFI is a resting giant and paying 3x TVL is not crazy.

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Daniel Cheung

@HighCoinviction

3 years

Explain to me how this does not look like we are about to go parabolic into the top 5. Great fundamental story, great chart, god status founder. The perfect trifecta - $LUNA

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Daniel Cheung

@HighCoinviction

3 years

A multichain world is almost inevitable at this point. Just like how Web 2.0 had apps built using AWS, Azure & GCP... Web 3.0 will consist of apps built on L1's like Ethereum, Polkadot & Cosmos. @THORChain is the best way to play this theme and will capture value from all L1's.

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Daniel Cheung

@HighCoinviction

2 years

Bear markets are where legends are made.

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Daniel Cheung

@HighCoinviction

1 year

Current thoughts on crypto markets: TLDR; controlled aggression in this environment will be the path to generational wealth creation over the next 3 to 5 years. A short 🧵

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Daniel Cheung

@HighCoinviction

3 years

I am late to the game but I see the resemblance now. Bullish AF $LUNA and the entire Terra ecosystem.

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Daniel Cheung

@HighCoinviction

3 years

$LUNA has a real shot of becoming a top 5 coin by end of November imo.

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Daniel Cheung

@HighCoinviction

3 years

$LUNA new ATH and still looking 🚀. $75 on this next leg and the majority of applications have not even deployed yet. Expecting billions of dollars in buying pressure over next few weeks on $LUNA.

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Daniel Cheung

@HighCoinviction

3 years

Terra is now the most undervalued L1 despite having the best TVL growth prospects; there is no cleaner story 1) IBC to be enabled in few hours 2) >120 dapps to be coming online over next few months TVL can easily double and multiple rerate to 4x which implies $140 per $LUNA

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Daniel Cheung

@HighCoinviction

3 years

$YFI's quarterly report and new dashboard showcase some impressive numbers and only further solidify what a sleeping giant @iearnfinance is. I see $YFI market cap at easily over >6bn (4x from here) in the next few months and here is how I get there. 1/

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Daniel Cheung

@HighCoinviction

2 years

Excited to announce the launch of Pangea Fund Management with my good friend and Co-founder @RyanWatkins_ . @PangeaFundMgmt is a thesis driven hedge fund making high conviction, concentrated investments in the secular winners of the cryptoeconomy. 🧵

Crypto Wunderkinds Secure $85 Million to Start Own Hedge Fund

www.bloomberg.com

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Daniel Cheung

@HighCoinviction

2 years

Imagine going into 2022 and still thinking crypto is a scam 😂.

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Daniel Cheung

@HighCoinviction

3 years

Sized $LUNA into the biggest position in my portfolio again. Terra is now the most undervalued L1 despite one of the best TVL growth prospects vs peers given Columbus 5 upgrade in few weeks. TVL can easily double and multiple rerates to 6x which implies a $140 price target EOY.

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Daniel Cheung

@HighCoinviction

3 years

Lots of money is still on the sidelines. Retail flows were gone a few wks ago and most are ~30% deployed ATM and itching themselves for missing this recent run. Expect strong buying on pullbacks and massive FOMO should we push even a little higher. Stay long = highest EV.

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Daniel Cheung

@HighCoinviction

2 years

Starting to put risk on and first thing I buy is $ATOM; $60 PT here. Cosmos Ecosystem narrative has been picking up lately and still has legs. Celestia coming online will be a massive unlock. Best plays in the ecosystem here are $LUNA, $ATOM, $RUNE, $OSMO.

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Daniel Cheung

@HighCoinviction

3 years

$ZEC is the most interesting privacy coin there is in crypto and the most solid in terms of tech. Transactions are truly untraceable. What is more interesting is that once $RUNE integrates with $ZEC, demand for the coin could rocket. I definitely want a bag at some point.

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Daniel Cheung

@HighCoinviction

3 years

I am only getting more excited everyday as we approach @terra_money Columbus 5 upgrade. Let me summarize quickly the 4 main reasons why I am so bullish on $LUNA as a result. Read to the end for my ELI2 key takeaway. Here it is: 🧵

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Daniel Cheung

@HighCoinviction

2 years

$LUNA still an easy double here in my opinion implying $100+ price target. Puts it right above XRP shit coin.

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Daniel Cheung

@HighCoinviction

3 years

Thesis for $LUNA is playing out; $140 price target in the short term still holds Long term, Terra is one of the few protocols with the potential to be in the trillion dollar market cap range given TAM for stable coins is infinite. @stablekwon also GOAT enough to take us there.

Do Kwon 🌕

@stablekwon

3 years

🔥has started Parabolic

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Daniel Cheung

@HighCoinviction

3 years

$LUNA it is time, new ATH soon. $75 dollar PT on this next leg alone and even higher as bull market progresses. $120+ is programmed.

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Daniel Cheung

@HighCoinviction

1 year

$SYN is one of the most misunderstood assets in crypto and offers one of the greatest re-rate opportunities as Synapse Chain launch approaches. Today Synapse is a leading cross-chain bridge. Tomorrow Synapse may become a leading rollup and cross-chain ecosystem 🧵.

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Daniel Cheung

@HighCoinviction

3 years

2 options at this point: 1) Go heavy into BTC and play for a 1 - 1.5x, and try to time the rotation into alts (low probability game) 2) DCA or HODL your best Alts knowing when rotation comes they will likely 5x to 10x from here. #2 is higher EV game - patience will be rewarded

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Daniel Cheung

@HighCoinviction

3 years

$LUNA breaking out here. One of the best investments in all of crypto right now in terms of quality, liquidity & upside. $90 on this next leg.

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Daniel Cheung

@HighCoinviction

2 years

Just thinking big here. The market potential for stablecoins could easily be in the trillions long term. UST will be the dominant stablecoin and @stablekwon will be the king to the throne. $LUNA

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Daniel Cheung

@HighCoinviction

3 years

‘ @OlympusDAO is still undervalued here despite its recent parabolic move. It is probably one of the fastest growing protocols in DeFi right now. It currently trades at 0.8x it’s annualized treasury growth; most software businesses have PEG ratios of 2.5x to 5x.

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Daniel Cheung

@HighCoinviction

3 years

Olympus Dao is producing ~$200mm of annualized run rate earnings and is one of the most undervalued protocols in DeFi. It is quickly becoming a true decentralized Central Bank and recent protocol upgrades make $OHM a more attractive investment. Allow me to educate. 1/

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Daniel Cheung

@HighCoinviction

3 years

THORChain is foundational infrastructure for blockchains and will become the layer 1 of layer 1's. It is the connective financial tissue between every major blockchain ecosystem. $RUNE will be a top 5 coin. $ETH=$400bn $BNB=$100bn $DOT=$40bn $RUNE=$4bn ⚡️Still RUNE to go⚡️

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Daniel Cheung

@HighCoinviction

3 years

You guys do realize that the amount of airdrops $LUNA stakers will receive over next few weeks will be insane right? 50+ projects launching; I would not be surprised if I made 7 figs just off the airdrops alone. Early Christmas.

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Daniel Cheung

@HighCoinviction

2 years

$BTC has never been more bearish 1) $BTC now feels like the AOL narrative - with new $$ flowing into $ETH 2) As BTC mkt cap falls, the narrative for SOV and currency gets weaker 3) Potential tail risk for network as we approach winter and govt bans BTC mining

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Daniel Cheung

@HighCoinviction

3 years

Terra Columbus-5 is not priced in yet.

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Daniel Cheung

@HighCoinviction

3 years

Definitely starting to move value cross chain more but existing cross-chain bridges are shit. Anyswap takes days , Binance bridge has daily limit etc.... I am more convicted now that @THORChain will be a top 10 project, a real cross chain settlement layer is greatly needed.

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Daniel Cheung

@HighCoinviction

2 years

People think we are in a bull market, but this is likely just a bear market rally. The biggest issue is demand continues to slow and it is hard to imagine a bull market with no broad based acceleration in growth. Equity markets bullish, but bond markets still bearish.

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Daniel Cheung

@HighCoinviction

2 years

All in all, I believe there is a very favorable 2 month short opportunity to be made here at ~$1200 $ETH. The stars are aligning. Remember to go in with protection - I propose setting $1300 as a point to cover the short. Disclosure: Pangea is not short - just sharing my view

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Daniel Cheung

@HighCoinviction

3 years

Multichain is primed to rip and $SYN is set to go on the run of its life. 1) 2nd largest bridge by volume and by far the fastest growing 2) Exponential liquidity growth - ~$1bn in TVL across all major EVM chains in 1 month SYN: $500M mkt cap RUNE: $2,000M mkt cap $15 soon.

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Daniel Cheung

@HighCoinviction

2 years

$LUNA truly is amazing; about to make ATH. I definitely regret having to derisk a couple weeks back to manage macro risk. That being said this goes to show you that picking the highest quality names with the best stories in itself is risk mgmt.

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Daniel Cheung

@HighCoinviction

3 years

Have been getting some DMs lately on when I plan to sell my $SOL position so thought I'd do a quick thread so everyone can benefit. TLDR: I think there is still at least 4x to go from here, which is meaningful. 👇 to learn why

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Daniel Cheung

@HighCoinviction

3 years

$SOL is such a great asset to be long. Massive outperformance relative to $BTC/ alts on up-days, and minimal drawdowns on down-days. Fundamentals & hype continue to build everyday and likely most serious competitor to $ETH. Why has this not flipped $ADA.

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Daniel Cheung

@HighCoinviction

2 years

$LUNA just broke $60, still plenty of upside. Double digit UST supply soon.

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Daniel Cheung

@HighCoinviction

3 years

The # of times I hear "integration with @iearnfinance " is becoming comical. $YFI vaults are now critical to DeFi and an economy is being built around $YFI. Yearn could be the 2nd layer on top of $ETH LT, making it one of the most valuable protocols in crypto. Few understand.

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Daniel Cheung

@HighCoinviction

3 years

COMP will likely vastly outperform ETH & DeFi over the next 6 months given: 1) Compound Treasury - more liquidity, better borrowing rates, more adoption 2) Compound Chain - more chains, more collateral, larger TAM Institutional adoption is here & COMP is at the center of it 🧵

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Daniel Cheung

@HighCoinviction

3 years

This is what $UST supply growth has been looking like over the last 14 days. The last time my partner showed me a similar chart with $DAI and I ignored; $MKR 3xed within a week. Not making the mistake again - $LUNA. Up to your own interpretation.

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Daniel Cheung

@HighCoinviction

3 years

Multi-chain narrative starting to pick up. Despite all these new bridges, none are compatible with UTXO chains like BTC. BTC alone is a 400bn+ TAM and only @THORChain has access to it. BTC MOAT alone gives THORChain the oppt. to be worth tens of billions in mkt cap one day.

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Daniel Cheung

@HighCoinviction

3 months

$FIL setup feels like $SOL at $20 — very wide dispersion between market perception and reality, with potential for a large re-rate: - Filecoin is much more than a storage blockchain. There are a ton of upcoming applications building on top to enable compute and retrieval, making

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Daniel Cheung

@HighCoinviction

5 months

Setup for $ETH over next few months looks prime; very evident participants have been starting to accumulate last few weeks: - EIP-4844 (more narrative based) - Ethereum ETF - Eigen Layer Launch - Capitulation from sentiment standpoint Hard to fade.

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Daniel Cheung

@HighCoinviction

4 months

Updated thoughts on crypto markets: TLDR - With the Bitcoin ETF catalyst now behind us; increased focus around asset quality & idiosyncratic setups will be the path to superior outperformance in 2024. A short🧵on how to win.

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Daniel Cheung

@HighCoinviction

3 years

$SHIB has proven that retail is dominating flows right now and the best projects with accelerating fundamentals and rabid communities will likely be beneficiaries of the wealth effect dog coins have caused. Projects best positioned right now are $LUNA, $SYN, $RUNE, $OHM.

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Daniel Cheung

@HighCoinviction

2 years

We have not seen capitulation yet. Capitulation is you looking at your screen - completely paralyzed from shock after feeling like you just lost everything. All hope of things coming back feels far away. You feel a part of you has died. That is when I will be buying.

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Daniel Cheung

@HighCoinviction

3 years

$OHM has the highest potential of the non-pegged stablecoins to 5x within a month. It trades at a significant discount to peers despite having a similar multi-billion $ TAM, intelligent token design, and backing from elite investors. Behold the path to Mount Olympus. 👇

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Daniel Cheung

@HighCoinviction

3 years

UST supply growth continues and is accelerating, suggesting $LUNA price appreciation is on the horizon. I don't really see UST supply growth slowing anytime soon.

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Daniel Cheung

@HighCoinviction

2 years

There is a real chance $BTC is past it’s glory days at this point. $ETH will claim the throne next cycle.

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Daniel Cheung

@HighCoinviction

3 years

Although $LUNA is best valued as money, even if you remove its monetary premium its still undervalued on a cash flow basis. Paying 14x cash flow for a project growing triple digits is a steal. The market doesn’t give too many opportunities like this.

Do Kwon 🌕

@stablekwon

3 years

Luna staking yield now 7.3%

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Daniel Cheung

@HighCoinviction

3 years

Cross-chain projects are popping up but @THORChain is the only serious player compatible with UTXO chains like $BTC. BTC settles >$10bn+ a day and this is a TAM that others miss out on. More TAM => More Profit => More Developers => Stronger ecosystem Thats the + feedback loop.

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Daniel Cheung

@HighCoinviction

3 years

There are still many that are skeptical of $LUNA and $SYN. That’s how I know we are not at the top yet and that there is still plenty of upside from here. Bags are packed.

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Daniel Cheung

@HighCoinviction

2 years

So why short $ETH here at $1200? - the layup of events has never been better. 1) 2Q22 GDP growth on 6/29 2) CPI print + FOMC early July 3) 2Q22 company earnings starting late July All of these could further de-rail equity markets. Here is how I expect things to play out.

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Daniel Cheung

@HighCoinviction

2 years

The Fed made us rich for a while, now they are making us poor again.

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Daniel Cheung

@HighCoinviction

3 years

Shaping up to be a great month for $RUNE. Things are coming back online so the fundamental story is going to start accelerating again. $20 soon.

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Daniel Cheung

@HighCoinviction

2 years

New proposal for Terra is bullish for $LUNA price LT. By increasing liquidity for UST, users will be able to swap UST for DAI instead of having to mint new LUNA. The results is longer periods of continuous upward buying pressure for LUNA. Bullish AF.

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Daniel Cheung

@HighCoinviction

3 years

The king of multi-chain is back. Never sell $RUNE, it will rip your face off. Back in bullish territory.

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Daniel Cheung

@HighCoinviction

3 years

We have lift off on $RUNE. This is just the start, don’t miss out.

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Daniel Cheung

@HighCoinviction

3 years

There are 2 major themes happening right now in the peripheral of which I feel the crypto markets are not excited about enough yet. Multi-chain: $RUNE, $SYN, $ATOM Interest rate derivatives: $PENDLE, $APW Upon realization, it will have already been too late.

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Daniel Cheung

@HighCoinviction

2 years

Getting vibes right now similar to the end of the May crash. 1. $BTC fear and greed index at extreme fear 2. Slow bleed down as volume dries up 3. Big accounts calling for bear market trying to shake weak hands Now is the time to DCA before the next leg.

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Daniel Cheung

@HighCoinviction

2 years

@stablekwon Do man I want you to know you are an absolute legend. Very few people have the grit to move forward in times like this - and I have no doubt you will succeed. Stay strong 💪.

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Daniel Cheung

@HighCoinviction

3 years

In the multichain future, @THORChain is best positioned to win as it embraces a DEX model whereas many other like REN, KEEP provide more custody services. DEX model is structurally more profitable allows THORChain to offer better incentives => more liquidity => better MOAT.

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Daniel Cheung

@HighCoinviction

2 years

Here is what I am seeing: 1) Open interest declining 2) Funding mostly flat to negative for most assets 3) On chain data showing large wallets continuing to sell I’m sorry but it’s over - we likely have to chill for the next couple months at least.

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Daniel Cheung

@HighCoinviction

3 years

$OHM really is a beast of its own. Data shows everyone is staking and playing for (3,3), and protocol controlled liquidity continues to rise. $OHM seems to be the most successful approach thus far to a decentralized currency and may be the future decentralized central bank.

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Daniel Cheung

@HighCoinviction

2 years

The problem now is that I think the Nasdaq still has a lot of room to fall. We are still only down ~30% from recent ATHs with prior drawdown of ~45% from ATHs in 2008 in an arguably more uncertain environment 20%+ downside is still possible for $QQQ and 40%+ downside for $ETH

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Daniel Cheung

@HighCoinviction

2 years

We are currently in a market regime where it is all just one big "Macro trade". Plotting $ETH & $BTC prices with inflation prints show markets have been very sensitive to macro. Crypto has been trading heavily with "Growth" and $QQQ.

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Daniel Cheung

@HighCoinviction

1 year

This AI move in crypto is insane, skeptical any of this is driven by real fundamentals. Nice to see @altstatemachine starting to get the love / mindshare it deserves. $ASTO & 🧠making moves right now.

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Daniel Cheung

@HighCoinviction

2 years

10 ETH soon 🧠.

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Daniel Cheung

@HighCoinviction

2 years

We are now just starting to see the early innings of lower earnings revisions come into play. Many Hedgefund / mutual fund analysts I talk to still are not pricing in a full recession yet and very few will as it is a tough career call to make.

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Daniel Cheung

@HighCoinviction

3 years

$WOOFY is now the top trending coin on Coingecko. Retail can shut up about being unable to buy $YFI at > $80k a coin. $WOOFY is pegged to $YFI and is priced at $0.09 a coin, and any buying of $WOOFY ultimately benefits $YFI price. Bullish development for $YFI.

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28

161