From High Activity to Lower Gear

The last weekend was exceptionally active, but this week has started with a noticeably different pace. Sometimes that shift is healthy. Not every phase requires aggressive action. Some weeks are about execution, others are about observation. Maintaining discipline during slower periods is often just as important as performing during the busy ones.

A Question About Delivery

One question that keeps coming back to mind: has the baby boomer generation truly delivered on what was promised?

Rather than focusing on slogans or narratives, I prefer looking at outcomes. Infrastructure, public finances, productivity, and long-term sustainability are areas where results can be measured.

GDP Growth Versus Fiscal Reality

I was amazed by a journalist's report stating that 1% GDP growth would generate roughly 2 billion in additional revenue for local administrations.

What caught my attention is the contrast with a reported 16 billion deficit. Looking at those figures side by side naturally raises questions about scale and proportionality. Even if the growth assumptions prove correct, the gap between additional revenue and the existing deficit remains substantial.

From a decision-making perspective, this highlights the difference between positive change and sufficient change. An improvement can be real while still being too small to solve the underlying problem.

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Portfolio Movement (21 Jun → 24 Jun)

Changes over this period, expressed in percentage terms:

Asset	Change
$ACE	➖ 0.00%
$BBH	📉 -0.36%
$BBHO	📈 +0.34%
$BTC	➖ 0.00%
$DAB	➖ 0.00%
$LTC	➖ 0.00%
$MATIC	➖ 0.00%
$SURGE	➖ 0.00%
$TGLD	➖ 0.00%
$TNVDA	➖ 0.00%
$TTSLA	➖ 0.00%

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Daily Volume

#	symbol	% of V
1	ALIVE	0.19
2	CENT	0.16
3	HSBIDAO	0.07
4	SPORTS	0.05
5	ETH	68.20
6	DAB	16.34
7	BBH	9.31
8	BTC	5.50
9	CENT	0.37
10	ALIVE	0.17

Volume Concentration

The market remains heavily concentrated in a handful of assets.

Volume Share

ETH ██████████████████████████████████ 68.20%
DAB   ████████ 16.34%
BBH   ████ 9.31%
BTC   ██ 5.50%

Others combined < 1%

Volume Composition

sETH 68.2%  🟦
DAB   16.3%  🟩
BBH    9.3%  🟨
BTC    5.5%  🟧
Other  0.7%  ⬜

The volume profile shows that ETH continues to dominate trading activity, accounting for more than two-thirds of all reported volume. DAB, ETH, and BTC make up most of the remaining activity, while the rest of the market sees only limited participation.

As always, concentrated volume can provide efficient execution in a few markets while leaving others relatively illiquid. For me, that reinforces the importance of patience, selective positioning, and focusing on process rather than short-term excitement.