Here's a breakdown of how the portfolio is tracking this cycle:

Big winners leading the charge: SPX sitting at $510M, MOG pushing $116M, and POPCAT holding strong at $89M. The heavier hitters like BITCOIN are at $43.5M, while GIGA rounds out another solid performer at $44M. Even the smaller plays are making noise—APU hit $21.8M, USA at $3.7M, and a few others like RETARDIO and LOCKIN posting their own gains in the low millions.

The real question everyone's asking: will this momentum stick around? Looking at the diversity across these token positions—from established names to emerging alternatives—there's a pattern worth watching. The range from hundred-million-dollar performers down to sub-$5M plays suggests the current market is rewarding a spread strategy rather than chasing any single narrative.

Whether this list recaptures its peak remains the million-dollar question. Market cycles are unpredictable, but when you've got multiple tokens outperforming across different market conditions, that's usually a sign the thesis still has legs. Time will tell if this becomes a full comeback story or just another chapter in the volatile journey.