This report reflects the discussions and views shared during our RA meeting. These are personal opinions of the team members and should not be interpreted as financial or trading advice. Readers should conduct their own research and consult with financial advisors before making any investment decisions.

🟢 Overall Stance: The team remains bullish, with BTC still seen as a core anchor asset, though ETH and SOL continue to have strong backing. There’s a measured tone due to summer lull expectations and macro headwinds, but conviction is solidifying around high-conviction plays and yield-optimized strategies like Pendle. Positioning is selective, balancing spot holdings with high-yield stables and tactical trading around...