In this episode, we explore PumpFun’s competition with Raydium, frontend design as a competitive moat, Solana’s share of network REV and application revenue, Ethereum’s ongoing scaling and governance challenges, and Bitcoin’s correlation to the stock market.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

--

Resources

PumpSwap Data: https://x.com/blockworksres/status/1905691039912087660

Fluid Dashboard: https://x.com/blockworksres/status/1908165062650675637

PumpFun Dashboard: https://app.blockworksresearch.com/analytics/pumpfun

Bitcoin March 2025 Update: https://app.blockworksresearch.com/flashnotes/bitcoin-march-2025-update

Solana March 2025 Update: https://app.blockworksresearch.com/flashnotes/solana-march-2025-update

--

Ledger, the global leader in digital asset security, proudly sponsors 0xResearch! As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your assets. Buy a LEDGER™ device now and build confidently, knowing your precious tokens are safe.

Buy now on https://shop.ledger.com/?r=1da180a5de00.

--

Missed DAS? Join us from June 24th-June 26th at Permissionless IV! Use Code 0x10 at checkout for 10% off!

Tickets: https://blockworks.co/event/permissionless-iv

--

Follow Carlos: https://x.com/0xcarlosg

Follow Jacob: https://x.com/0xSharples

Follow Marc: https://x.com/marcarjoon

Follow Danny: https://x.com/defi_kay_

Follow Blockworks Research: https://x.com/blockworksres

Subscribe on YouTube: https://bit.ly/3foDS38

Subscribe on Apple: https://apple.co/3SNhUEt

Subscribe on Spotify: https://spoti.fi/3NlP1hA

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the 0xResearch Telegram group: https://t.me/+z0H6y2bS-dllODVh

--

Timestamps:

(0:00) Introduction

(1:34) The Decoupling Narrative

(6:43) Outlook For Crypto Majors

(10:57) Ethereum's Struggles

(15:27) Ledger Ad

(15:43) Solana's REV Share

(21:21) Diving into the PumpFun Data

(30:31) Ledger Ad

(31:04) Who Owns the End User?

(37:34) Incentivizing User Behavior

(47:15) PumpFun vs Raydium: What's Next?

(52:01) New Opportunities Going Forward

--

Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place

Blockworks Research: https://www.blockworksresearch.com/

Free Daily Newsletter: https://blockworks.co/newsletter

--

Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.