Crypto markets are at a crossroads. Is Ethereum primed for a short squeeze, or is its dominance fading? Are the SOL unlocks a real risk, or is the panic overblown? And did we already have an alt season without realizing it?

In this episode, hosts James Seyffart, Alex Kruger and Ram Ahluwalia sit down with Sal Ternullo, managing partner at A100x Ventures, to break down the biggest questions facing traders today. They discuss whether Trump’s tariffs are impacting ETH, why the market might be misreading SOL’s unlocks, and how traders keep falling into the same traps—losing money despite crypto’s explosive gains.

They also debate the real reason altcoins haven’t performed as expected, why memecoins might finally be dying off, and what the Growth Value Ratio reveals about the market’s future. Plus: the implications of Elon Musk’s bid for OpenAI, and whether Arweave’s AO can seriously challenge ICP.

Show highlights:

•    3:33 - Why Ram likes what Trump is trying to accomplish with the tariffs
•    10:35 - Why ETH got hit so hard with the tariffs and whether there’s a squeeze coming
•    15:24 - Whether the market will see an alt season
•    21:47 - Why Sal believes that the SOL unlocks are not a big deal and why he’d like to see a shift away from memecoins
•    25:09 - Why Ram thinks that crypto markets don’t have a clear narrative in the near future
•    27:28 - Why Alex is concerned about the SOL unlocks
•    32:19 - What the growth value ratio is teaching us about the state of the markets
•    40:59 - How the potential Kanye West memecoins is another example of why Sal doesn’t like this space
•    46:39 - Whether Arweave’s new project AO can compete with ICP
•    48:04 - How Elon Musk is running so many projects, plus bidding for OpenAI
•    55:26 - James’ analysis on the likelihood of various crypto ETFs being approved
•    1:03:01 - Why Alex thinks this is the perfect time to “be patient” in the markets

Sponsor:

• Somnia Network
• Bitwise

Hosts:

• James Seyffart, Research Analyst at Bloomberg Intelligence
• Alex Kruger, Founder of Asgard
• Ram Ahluwalia, CFA, CEO and Founder of Lumida

Guest:

• Sal Ternullo, Managing Partner at A100x Ventures

Links

• Unchained: 
• Grayscale Files for Cardano ETF 
• Central African Republic launches memecoin
• Reuters: 
• Trump raises tariffs on aluminum, steel imports in latest trade war salvo
• Elon Musk-led group makes $97 billion bid for control of OpenAI
• The Block: 
• SEC delays decision on BlackRock's Ethereum ETF options trading until April 9 
• Kanye West, after disclosing he was offered $2 million to launch a token, asks to speak with Coinbase CEO 'concerning crypto'
• Kanye West quashes memecoin launch rumors, says coins 'prey on the fans'
• James’ and Eric Balchunas’ tweet on the odds of crypto ETFs

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