DeFiWarhol

BLACKROCK IS BUYING HUNDREDS OF MILLIONS IN BITCOIN AND ETHEREUM TODAY

Why is Brazil a top country for @ether_fi usage?
Pretty simple.
I think a lot of people there see EtherFi more like a crypto neobank than a DeFi protocol.
→ Move local money in through PIX
→ App converts it to digital dollars
→ Either spend it or park it inside EtherFi
To me, the appeal is obvious because it gives people a cleaner way to move money, get dollar exposure, and use crypto in a way that feels practical.
I like seeing crypto solve real money problems.

This bear market feels different from previous cycles.
In 2015, people were asking if crypto would survive.
In 2026, most people already know it survives, but there's still uncertainty around what comes next.
Maybe we can't predict it and that's fine.
For now, I'm sticking to fundamentals and what's actually happening.
- Nvidia saying we're in AGI.
- AI agents are everywhere.
- Still a lot of underrated teams building cool things.
But the market barely cares.
Why?
Money rotated into safer stuff no one gets excited about:
→ BTC dominance at 57%
→ $315B in stablecoins sitting risk-off
→ Of last

Etherfi is now generating more revenue from Etherfi Cash (card) than all other verticals combined.
Crypto cards are one of the best cash cow businesses in crypto (along with perp DEXs).
I'm sure revenue streams for crypto cards & neobanks will 10x over the next 12–24 months.

Lets talk about some of the narratives that died ↓
Step2Earn: 2021 - 2022
Play-to-Earn / GameFi 1.0: 2021 - 2022
Metaverse: 2021 - 2022
LSTs / LSDfi: 2023 - 2024
BRC-20: 2023 - 2024
SocialFi: 2023 - 2024
ERC-404: 2024 (one year fad)
Anyone still here?

I made a chart

Me listening to exit liquidity talk at the gym

This is insane.
Visa accounts for 96% of the total volume of crypto cards. Mastercard's share has been in a steady decline since 2025.
It's fair to say Visa has officially won the neobank battle.

CT’s been doom-scrolling token dumps, hacks, and team implosions for weeks.
Time for some good news.
• BTC spot ETFs pulled $1.32B in March inflows.
First green month since October 2025. Broke a 4-month outflow streak. Institutions are quietly coming back.
• Nium launched stablecoin card issuance on Visa + Mastercard.
Single API. 190+ countries. Stablecoin-to-fiat at point of sale. This is infrastructure, not a press release.
• Anza dropped the Constellation (MCP) protocol design for Solana.
Multiple concurrent proposers. Breaks the single leader's monopoly on tx ordering. A protocol-level mov