PONS is down nearly 70%, and Bonk Guy’s portfolio has fallen from $26 million to around $10.4 million—a loss of over $15 million.
Trading volume → fees → buybacks → rising expectations: a tailwind acts as an accelerator, and so does a headwind—in reverse. Daily revenue has plunged from the millions to around $100,000, and the buyback flywheel is starting to struggle.
Everyone praises buybacks in a bull market; a cooldown is the real test. A 985 grad is waiting to break even: the flywheel story sounds great, but don’t mistake a “perpetual fee machine” for a risk-free investment.
Do you still believe in the trading-volume-driven buyback narrative?
#币安广场
Trading volume → fees → buybacks → rising expectations: a tailwind acts as an accelerator, and so does a headwind—in reverse. Daily revenue has plunged from the millions to around $100,000, and the buyback flywheel is starting to struggle.
Everyone praises buybacks in a bull market; a cooldown is the real test. A 985 grad is waiting to break even: the flywheel story sounds great, but don’t mistake a “perpetual fee machine” for a risk-free investment.
Do you still believe in the trading-volume-driven buyback narrative?
#币安广场