Richard Galvin@richwgalvin · 2026/08/26观点输出@infinitybanyan @risextrade @sam_battenally Make it true Rise!
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/25观点输出@pteroma_walk Its happening across crypto if you look at solana:4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R and $UNI and others who are already doing volume across equity and equity index tokens from other providers like xstocks and ondo
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/25政策影响One of the more straightforward theses in crypto over the next few years, is rebound in DEX tokens. Spot DEX monthly volumes have fallen from ~$600b in October to ~$130b in July and most of the DEX exchange tokens have fallen by similar or larger % amounts - their "beta" to volume is high.
This cycle looks much like the last one imo (see chart below), just off a higher base, as crypto structurally expands through the cyclicality and DEXs continue to take share from CEXs.
If you think crypto is in terminal decline move on...if not, it's hard to see DEX volumes not being materially - potentially magnitudes - higher than today over the next three years. In this scenario the beta is working for you to the upside.
The tailwinds: continued share gains from CEXs, TAM expansion through tokenisation (today's Coinbase tokenised equities launch on Aerodrome being a case in point), new entrants like Robinhood, and increasingly accommodative regulatory frameworks.
AERO is one that fits this thesis well and our funds hold it.
We've done a lot of work on DEX volumes and mkt dynamics and can share it with qualified investors.
Richard Galvin@richwgalvin · 2026/08/23观点输出RT @theInterfold: FOLD comes to Upbit today.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/22观点输出@h1llyx Correct ser. Last time city prices.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/22观点输出Some of these wicks allowed you to time travel back to Wednesday's prices and pretend you werent stuck on the sidelines - very generous https://t.co/pmxNP5KELI
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/22观点输出RT @Bluntz_Capital: not only does $cards look phenomenal here but we have the team hinting at locking the team allocation which is set to s…
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/22观点输出@PratikKala Haha - quite the smile. One of the biggest drawdowns in crypto history still breathes! Was a bit ridiculous at the bottom
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/21观点输出Nice 👇
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Richard Galvin@richwgalvin · 2026/08/21市场影响Hate your enemies as much as base:0xbaa5cc21fd487b8fcc2f632f3f4e8d37262a0842 hates trading above $2.30
AI：偏平台经营与生态扩张，强调交易平台和应用入口的长期位置。
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