Markets opened the year in the green with ETH pulling the “smart money” rotation and memes like Pepe ripping alongside it. The discussion unpacked value capture and why L2s like Base have been out-earning ETH, then zoomed in on perp businesses with Hyperliquid’s fee run as the benchmark. From there it moved to billion-dollar airdrops, how to think about TGE odds, and a 2026 watchlist of projects that could realistically drop. OSF’s REKT write-up sparked a debate on taking memes from proof of concept to proof of scale, plus what liquidation cascades and leverage cycles signal in real time. It wrapped with prediction markets momentum and a quick pulse on digital collectibles.

Subscribe:

• Coffee with Captain Newsletter: https://coffeewithcaptain.beehiiv.com/
• YouTube: https://www.youtube.com/@coffeewithcaptainshow
  
  

Follow on X:

• Captain Zwingli: https://x.com/ChrisJourdan
  
  

This podcast is for entertainment purposes only. None of the information shared on this podcast is meant to be taken as financial advice. Chris and guest speakers may hold tokens discussed

Check Out:
The Everything Token: A Book on Web3 and NFTs