This "Internet Capital Markets" trend is the hottest new meta since AI agents in January. But will it last? Here are my thoughts on the ecosystem now: • In most cases, it's best to long leaders rather than chasing beta plays - think back to VIRTUAL, FARTCOIN, GOAT etc. (in this case it's LAUNCHCOIN). • Traction is strong, Believe is top 4 on Solana for fees today, but the question is: will it last? If so, there is a tangible basis for this to re-price higher (but R/R is worse now at the current market cap vs my initial "call" at $90m and Fabian's $15m call in @mileshighclub_ ). • The #1 important thing to monitor right now is whether the current fees and rate of new launches sustain (track using DeFi Llama and Dune analytics). • Probably worth waiting for dips and seeing how the market reacts. That will tell you a lot. Thinking back to VIRTUAL, I remember it had a 2-3 day lull after making its first high (best strategy was to bid the new LTF range low (H1) that formed with inval - with 2nd entry on range high breakout). I'll be looking to do the same here. • If the app continues to gain traction, there will be many new runners (worth paying attention to the eco for new plays - so even if you missed LAUNCHCOIN you can still profit off the ecos success - make sure to follow me @milesdeutscher as I'll update you if I find any).