Story vs Valuation, Hyperliquid TAM, Pump’s Problem & Ethena’s Token Reset
About this episode
The episode debates the importance of narrative versus valuation in today's crypto market while discussing various related topics.
What matters more in today’s market: the numbers or the story investors believe? This week, we debate crypto’s rebound and why markets increasingly reward narrative, momentum, and massive future outcomes over traditional valuation. We also cover Hyperliquid vs Pump, Ethena’s token overhaul, AI valuation mania, and the convergence of trading and social. Enjoy! TIMESTAMPS: 00:00 Intro 01:07 Is Crypto Risk Worth It? 08:07 Are AI Assistants Overhyped? 13:40 Is Crypto Undervalued Again? 22:06 Why Pump Trails Hyperliquid 30:14 Ads (TOKEN2049, Avalanche Summit) 34:12 Ethena Fixes Its Tokenomics 42:33 How Does Ethena Keep Growing? 49:30 Can FOMO Onboard Normies? 56:10 Content Of The Week FOLLOW THE SHOW › Empire– https://x.com/theempirepod › Jason – https://x.com/jasonyanowitz › Santi – https://x.com/santiagoroel › Rob – https://x.com/HadickM › Telegram – https://t.me/+CaCYvTOB4Eg1OWJh › Blockworks – https://x.com/Blockworks EVENTS › Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th https://blockworks.com/events › TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the…
Sponsors
TOKEN2049, Avalanche Summit
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