- The Warmup by Kaizen
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JPEG Season 2.0?
PLUS: SOL cracked $200
Welcome back to The Warmup.
NFTs are back on the radar. ETH is pumping, SOL cracked $200, and floors are starting to move. Feels like the pre-game to another JPEG frenzy.
Here’s what we’re watching:
Market Snapshot
Trump Media Bets Big on Bitcoin
Fartcoin Rerating Setup
NFTs Are Back
What Are We Watching
Market: BNB hit a new ATH above $800, flipping SOL by market cap, as crypto majors saw mild pullbacks and ETH posted strong ETF inflows despite $2B in pending unstakes.
Trump Media Bets Big on Bitcoin
What’s going on:
Trump Media just went full Saylor mode.
The parent company of Truth Social now holds 18,000 BTC worth over $2B, making it the 5th largest corporate holder of Bitcoin globally.
Most of this came from a fresh $2.5B capital raise that the company quickly deployed into BTC.
They also earmarked another $300M for Bitcoin-related options with plans to roll those into spot Bitcoin later.
What it means:
Trump Media just made one of the boldest Bitcoin moves yet, and it’s shaking things up.
BTC supply is limited, demand keeps rising, and now even political players are jumping in.
ETH has had the spotlight with ETFs and corporate buys, but BTC is still the go-to for treasuries thanks to its safety and liquidity.
Tying Bitcoin to a political brand has risks down the line, but in the short term, this move adds serious momentum to adoption and most importantly: attention.
Fartcoin Rerating Setup
What’s going on:
Fartcoin just broke above its previous May high at $1.65, showing strong momentum.
It’s been outperforming SOL itself on short-term SOL/ETH ratios. That’s a big signal considering how much Solana sentiment has been heating up.
And here’s the kicker: flow data shows Fartcoin is still underpositioned. If this catches up with the rest of Solana’s memecoin ecosystem, it could rerate higher fast.
Key levels we’re watching:
Breakout level: $1.65 → May high just got broken
Immediate resistance: $2.00 → clean psychological level + previous rejection zone
Target zone: $2.00
Invalidation: $1.47
Directional Bias: Aggressively bullish
What we’re waiting for:
Continuation above $1.65 with strong volume
Solana outperforming ETH (SOL/ETH chart flipping up)
Flows rotating into Solana memecoins
Spot strength relative to BONK and PENGU
This (fart)coin has the narrative tailwind (Sol memes), the technical breakout, and the positioning to support a fast move.
If SOL continues its trend, this could get explosive quickly.
NFTs Are Back
What’s going on:
NFTs are showing signs of a real comeback. The total NFT market cap jumped around 30% over the weekend, pushing the sector to about 6.5 billion dollars.
That made it the top performing category in crypto over the last 7 days.
Sales are surging. Floor prices are rising. And blue-chip collections like CryptoPunks and Pudgy Penguins are seeing major sweeps. Even Bitcoin Ordinals are catching a bid.
Plus, GameSquare just announced a $10M NFT allocation as part of its ETH treasury strategy. That puts NFTs back in the spotlight for both traders and institutions.
What it means:
This doesn’t feel like a random spike. It looks like the start of a new wave.
Now, with ETH gaining strength and JPEGs being treated as digital flex assets again, momentum is returning fast.
If this continues, expect Pudgy Penguins to climb the market cap ranks, more sweeps across popular collections, and memecoins like PENGU to rally alongside.
A potential OpenSea airdrop could pour more gas on the fire.
NFTs are volatile and illiquid, but when they go, they go. And right now, they’re heating up again.
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What’s your current stance on NFTs? |
Global liquidity keeps climbing, but the pace has clearly slowed.
The biggest drag right now? A recovering US dollar and ongoing tightening from Europe and Japan.
Still, risk-on sentiment remains strong and with bond volatility falling and collateral values rising, the stage is set for liquidity to keep supporting assets like crypto and gold into Q3.
— The Warmup Team
Always do your own research. This newsletter is supplemental material to help educate readers as they make their own decisions. Projects mentioned here are provided to give a potential early-mover advantage.