It is important to avoid drowsiness in financial markets. A great example of where I see potential threat right now is Bitcoin. Over the past month, this digital asset has fallen by 3%, and since the beginning of the year, it has only risen by 20%. These are not the impressive return metrics that inspired a whole generation striving for asymmetric profits.

However, the lack of significant growth over the past 8 months does not mean that we can expect the same until the end of the year. Tom Lee from Fundstrat spoke on CNBC yesterday and explained why, in his opinion, Bitcoin could double by Christmas:

Do I think Bitcoin will double by the end of the year? I have no idea. Bitcoin has shown significant fluctuations before, so this is not the first such case, but an increase in total market capitalization of about 2 trillion dollars in 100 days would be an exciting sight.

Regardless of price dynamics, Tom's analysis of the reasons for Bitcoin's growth is absolutely accurate. Bitcoin remains the most sensitive macroeconomic asset to global liquidity conditions. And if the Fed is going to lower interest rates in September, one should expect Bitcoin to rise in price in response.

But bitcoin is not the only asset that draws attention. This may not be what bitcoiners want to hear, but we must realistically assess market indicators. In the past month, while bitcoin has slightly decreased, Ethereum has risen by almost 10%, and Solana by more than 20%.

This is a direct result of the expansion of interests in digital assets. We have witnessed the launch of an ETF on Ether, as well as the announcement of the creation of many companies issuing altcoin treasury bonds.

Tom Lee announced Bit..ne, a treasury company specializing in Ethereum. He is not only buying this digital asset and staking it, but he also invested in Eightco Holdings yesterday ($OCTO). Why did they do this? The fact is that Eightco Holdings is becoming the treasury company for Worldcoin, which is built on Ethereum.

So, now there are companies that invest in the ecosystems of these altcoins. And before you start arguing about how stupid this strategy is, you should know that the shares of Eightco Holdings increased approximately 30 times in one day after the announcement. I don't know if Nasdaq has ever seen a company rise from $1.72 to over $72 per share in a single trading session, but that's exactly what happened yesterday.

Just madness.

This is happening not only in the Ethereum ecosystem. This morning we saw Sol Strategies, a Canadian company focused on building Solana infrastructure, conduct a cross-listing and start trading on Nasdaq. The company will be trading under the ticker $STKE, which means "share."

They hold a large amount of SOL on their balance, stake their assets, and also own a number of validators, which allows them to monetize other people's SOL that is being staked.

In a similar manner, we have witnessed the announcement of the establishment of a new treasury company focused on Solana, through Forward Industries Inc. The company is supported by Galaxy Digital, Jump Crypto, and Multicoin. Kyle Samani joins it as the chairman of the board. As part of this initiative, over $1.6 billion in cash and stablecoins have been raised to implement the strategy.

This will not happen if the market does not show a clear opportunity.

Those who hold altcoins should wait until they realize that these companies can provide cash flow and returns. I repeat, it doesn't matter what individual investors believe, it is essential to understand what the financial market as a whole craves — returns.

We have also seen asset management companies like Coinshares announce a deal to go public through a SPAC. Their valuation exceeds 1 billion dollars. Cash flow from companies related to cryptocurrencies is now incredibly popular.

Thus, I return to the broader topic. Cryptocurrencies are attacking. Bitcoin was the first to burst onto the market. It has always been the king and, in my opinion, will remain so.

They are not interested in specific cryptocurrencies. They need profit. And if that leads them to altcoins, yields, or companies that generate cash flow, so be it. They are trying to accomplish their goal — to achieve additional profit, and it seems that the market has collectively decided that opportunities related to cryptocurrencies are one of the best directions for seeking.