**SPEAKER_1** (0:00)
It is beyond the shadow of a doubt that institutions are now in control of crypto. Now, in the famous saying of the late Wu Tang Clan, cash rules everything, cream get the money, dollar dollar bill y'all. Wall Street has chosen its own big winners in an S&P 500 crypto index that is the first of its kind. And it's only including very specific projects that have a key metric that's a common denominator for all of them. And in today's video, I'm gonna dive into these five projects and a little front end information so that you can understand how to track this information for yourself and why revenue matters so much.
**SPEAKER_2** (0:39)
The largest, there's 18 constituents total. The largest five are Ether, Binance Coin, Solana, Tron and Hyperliquid. So what are the requirements? How much turnover do you expect? And what do these choices represent? Yeah, so let's just admit that digital assets moves faster than equity assets, for example. But what we're trying to bring are the same sort of principles that we have in our equity indices into digital assets. So when you think about the seasoning period, the revenue generation, the listing requirement, the liquidity behind these different protocols for these tokens, these are the things that we think matter for serious investors and asset managers in the digital asset space.
**SPEAKER_1** (1:20)
This is a revenue-driven bull market that we're knocking on the door of, and Wall Street is getting in while the chips are down, lining up indexes with the ability for investors to line their pockets with these projects before the noise comes back. This new S&P index selected only a few specific crypto projects based on their protocol revenue, not their size and ranking in terms of market cap. This index is in conjunction with the S&P Dow Jones Indices and Pantera Capital, a digital asset investment firm. Now, the total amount of crypto constituents that stand at potential to be listed is 18 different projects, but they're really focusing in on five of the largest targets for the S&P index, Ethereum, BNB, Solana, Tron and Hyperliquid. There has been a major shift that's occurred in crypto over the course of the last bull market now to the bear where we are. There are nearly 80 million projects that are out in circulation right now, and there are a lot of projects that are slated to die because of lack of liquidity, lack of revenue generation, and general bad actors flushing themselves out and rinsing their investors as exit liquidity. So the first project that they listed is Solana.
Let's take a look at Solana's larger chart. And really Solana has a very structurally sound graph in comparison to most altcoin projects, but the key behind this is the revenue metrics.
Now as shown on the screen here, price has been sliding as I just showed you on CoinMarketCap, market cap sliding as well.
The fees have taken a dive, but the daily active users on the chain is beginning to spike aggressively.
Also within this paired metrics is the chain transactions are spiking. So when I look at this data, I have to understand that yes, the chips are down. Many of these projects are in a bear market. And really, no altcoin has been left unscathed other than a few select projects, and one of those is on this list I'm going to be covering today. Solana has turned into a chameleon of the crypto space with its integration into the meme coin meta, AI agents as of more recently, even NFTs when they were alive in the 2021 bull market, and RWA real world asset tokenization. It's got multiple different aspects of how it approaches tokenization of money markets as we know it. Now, Solana has often been dubbed as the Ethereum killer last cycle. And I think we've all kind of gotten over that idea because you see how strong Ethereum has become in the terms of stable coin adoption. If you compare Solana's chart with Ethereum's chart, it really is not too far off. Ethereum is set up with more recently a minuscule new all-time high in comparison to the bull run of 2021, but it is setting up a series of healthy floor support here in the $1,500 region. The more recent washout has been proved as a short-term local support spot, and Ethereum has been rallying pretty aggressively and performing very well against Bitcoin even over the last few weeks. Another project on their list is Hyperliquid. And I think what Hyperliquid has done has become contagious. The token value capture of Hyperliquid in terms of the revenue generated by the chain being translated back into token price has really shown itself on the graph as well. Now Hyperliquid has some major investment firms that got in around $30 that have been clipping huge chunks of their Hyperliquid holdings over the last few weeks, which is driving the price down along with just a general boring feeling in the crypto market right now.
5 more minutes of transcript below
Try it now — copy, paste, done:
curl -H "x-api-key: pt_demo" \
https://spoken.md/transcripts/1000651996090
Works with Claude, ChatGPT, Cursor, and any agent that makes HTTP calls.
From $0.10 per transcript. No subscription. Credits never expire.
Using your own key:
curl -H "x-api-key: YOUR_KEY" \
https://spoken.md/transcripts/1000777952763