Good Afternoon from Cumberland APAC! The post-election rally continues; despite BTC, ETH, and SOL trading fairly muted (all within 1% of where they started the week), crypto markets in general have been rallying sharply on the week. Outside of these three, it’s essentially an everything rally. The Earlycoins have continue to perform (XRP +14%, HVAR +56%, XTZ +8%). L1/L2s have gotten some steam and entered a new price level (AVAX +17%, MATIC +19%, NEAR +7%, APT +6%). DeFi has been performing solidly (CRV +41%, AAVA +16%, LDO +13%). We could go on, and these rallies are just over the past two-and-a-half days.

It’s always challenging to call for a reversal, and also not much fun. We’re also in a macro environment that is extremely favorable;...