Are We Really Back? AI Subnets, BTC Surge & Stablecoin Wars | Fully Diluted with Messari Research

Messari's Unqualified Opinions

We're back with Episode 4 of Shoot the Sh*t Fully Diluted Podcast, where the Messari Enterprise team dives deep into what’s fueling crypto’s recent momentum.

Join Matthew Nay and the Enterprise team (Sunny Shi, Kinji Steimetz, Andrew Dyer, Chris Davis & Dylan Bane) as they shoot the sh*t about:

🔹 Macro trends: BTC’s outperformance, S&P's rally, and tariff drama between the US and China.

🔹 AI subnets & decentralized training: BitTensor’s shoots, gradients, and more.

🔹 Ethereum’s L1 scaling push: Is this the turnaround moment for ETH?

🔹 Stablecoin meta: Mastercard x Circle, Ripple’s rumored bid for Circle, and more.

🔹 Hyperliquid flywheel: HIP3, staking incentives, and why it might be the next top-10 protocol.

🔹 Onchain activity check-in: Launchpad wars, NFT grinds, and Treeverse MMOs.

This one’s jam-packed. Whether you’re macro-curious, AI-obsessed, or just tracking new alt metas—there’s alpha for everyone.

💡 Ask Messari Copilot: What would it take for Ethereum L1 to recapture DeFi mindshare from L2s and alt L1s—performance, incentives, or something entirely different?

✨ See Copilot's Response: https://messari.io/copilot/share/ethereum-l1-defi-comeback-bebd6c1a-a97f-49d2-98c4-136ca02b558c

00:44 Introductions

1:10 Market Sentiment

15:48 Ethereum Foundation

25:11 AI Adoption

36:57 DePIN Projects

39:45 Energy & Crypto

41:31 Crypto Payments

56:15 EVM Innovations

1:05:10 On-Chain Projects

1:12:08 Conclusion

Hosted by Matthew Nay of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.