Back in the Feed: What I’ve Been Building and Seeing

A personal update on what I’ve been seeing in crypto lately—including my time building Indexy, the rise of tokenized everything, and my newsletter plans moving forward...

Hi friends,

It’s been a while...

Today I want to share what I’ve been working on, a few interesting things I’ve seen in the crypto streets lately, and what’s next for the newsletter now that I’m officially running a startup.

Indexy (1, 2) has taken up most of my time (150%) over the past 8 weeks, which is why you’ve seen fewer emails from me. What started as a simple table to track crypto markets has evolved into a product used by over 15,000 analysts, researchers, and degens. It’s powered by $i, our native token. I recently brought on two devs, and we’ve got an ambitious roadmap ahead. It’s a perfect mix of the stuff I care about—onchain, data, and markets.

Writing less has been the tradeoff, but diving into Indexy every day—seeing what analysts are tracking across chains, ecosystems, and categories—has kept me closer to the pulse of crypto than ever before.

Here’s what I’ve observed over the past few weeks:

Concepts like content coins, creator coins, artist coins, tokenized apps, tokenized stocks—even brand coins—are no longer just ideas. They’re real now, with thousands of users experimenting across platforms. The tech is getting better, and the overall experience is improving day by day. It hasn’t fully clicked for everyone yet—and that’s okay. There’s still pushback; I’ve felt it myself just by mentioning I launched a token for my app. Some creators and artists have faced similar resistance, while others just don’t see a strong reason to tokenize anything yet.

But at the end of the day, it won’t be the crypto natives who decide if this matters—it’ll be normies, and they can now explore these mechanics with just a few clicks.

Zora has kept pushing deeper into the coin model by linking content coins to creator coins, all of which route through the Zora token. This setup funnels volume into a single token and avoids the issue of standalone coins diluting each other’s value—everything a creator publishes ties back to their main coin. Following that direction, I activated my own coin, $kaloh, and I’ll keep using Zora from time to time—coining articles, charts, and other content like I’ve done in the past. The key with creator coins is setting expectations. $kaloh is just for fun—no strings attached. I enjoy testing new onchain features, and this is another experiment. It also opens up new ways to connect with readers, get discovered, and distribute content directly into wallets, DEXes, and a growing number of apps.

fxhash launched their own protocol recently, powered by $fxh, using a structure similar to Zora’s. The difference is fxhash remains focused on digital art (they’ve hinted at expanding into other areas like AI art). They’ve also announced they’ll no longer support Tezos and will focus fully on Base.

I wrote this article back in December with some predictions for their airdrop—I was definitely optimistic, but I still think $fxh is undervalued.

The Base App is still in closed beta, but it’s already brought new energy to crypto social. It combines Farcaster’s social layer, Zora-style coin mechanics, a crypto wallet and mini apps into one platform. The goal is to be a super app that makes it easier for normies to try onchain mechanics. I’ve been testing it for over a month—Indexy is live and trending in the Finance category, alongside 100+ other mini apps. Some users have said the experience varies depending on the OS (Android feels a bit rougher than iOS), but overall, I expect it to improve quickly. I’ll keep using it alongside Farcaster.

The tokenization of everything is happening.

Meanwhile, NFTs have seen a spike in volume—especially among the so-called grail collections. CryptoPunks raised their floor to around $190,000 (up 100%) after 373 sales in the past 30 days. Fidenzas by Tyler Hobbs are also up 125%, with a current floor around $150,000 and 42 sales this month.

The excitement is real, but it’s mostly concentrated at the top. We’re not seeing a broad market rally—just a sharp, condensed surge in high-end collections.

On the newsletter plans moving forward…

I’ve been thinking about how to move forward with the newsletter now that Indexy is taking up most of my time. I want to set realistic expectations—for you as a reader and for me as a writer. Going forward, I’ll publish at least one public and one premium edition per month. I might write more, but that’s the baseline I’m committing to.

Until next time,

- Kaloh

---

Disclaimer: As always, none of my content should be considered financial advice. This applies to all my articles and posts, and assets mentioned. Cryptocurrencies and digital assets are extremely risky and could lead to losing your investments. Always do your own research.