So the SEC update to accelerate the timeline of ETF approvals creates one of the wildest narrative overlaps I've seen in a long time on AVAX specifically. Like nearly black-swan…

Original source excerpt

So the SEC update to accelerate the timeline of ETF approvals creates one of the wildest narrative overlaps I've seen in a long time on AVAX specifically. Like nearly black-swan level convergence of E…

So the SEC update to accelerate the timeline of ETF approvals creates one of the wildest narrative overlaps I've seen in a long time on AVAX specifically. Like nearly black-swan level convergence of ETF approval + close to $1 billion DAT bid coming at almost the same time. The latest expected numbers I'm hearing right now are $800mm in up to 80% cash bid from the Dragonfly AVAX DAT, and an additional $300mm in over 50% cash bid from the Hivemind DAT (which literally closes tomorrow). Contrary to initial reports, a majority of this is reported to be open market bids, with only a portion purchased from the foundation (which may still be used to later buy spot the same way Ethena did as well). To put this in perspective, $800mm of buying pressure at current market cap / daily volume would be the functional equivalent of nearly $10B of SOL DAT buying, now while simultaneously expecting one of the first ETF approvals since Ethereum to come imminently. I went through the full list of coins with CFTC regulated futures, and as far as I can tell, AVAX is the only included coin that isn't extremely high market cap but still has the ability to successfully raise DATs & hasn't yet spent their DAT raise. So far it's become apparent that no amount of front-running has been enough to offset the actual impact of any of the DAT buys, with the effect literally doubling the price of Worldcoin and Eth, and Sol still moving straight up despite being known well in advance. I expect this to ultimately be the case here as well, and even just on technicals alone this looks like a clean run to $40+.

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