Super Cycle, Instant Fame
Author: Deep Tide TechFlow
In recent days, you must have seen the figure of this guy in the picture above --- long hair, big beard, and glasses, exuding full rock vibes.
His name is Murad Mahmudov. Previously, he wasn't considered a prominent figure in the crypto space, but in the past few days, he has rapidly become a Meme signal king and the top hype man due to intense analysis and commentary from the outside world.
What made him famous was his speech titled “Meme Coin Super Cycle” at the 2049 conference in Singapore this year, which has garnered 1.76 million views as of the time of writing.
If you haven't heard of this guy yet, you might want to watch this video, where you'll find him presenting extremely formal theories, detailed data, and overflowing confidence while introducing you to CX Meme coins. His key statements are filled with emotional value, carrying a flavor of "speak shockingly or die trying":
For example, he claims that the total market cap of Meme coins will exceed one trillion dollars, Bitcoin will reach 200 trillion dollars in 20 years, and you need to overturn investment logic to embrace this new cycle of Meme…
While many have watched the speech itself, few have mentioned Murad's past:
From learning Chinese to entering the crypto world, from founding a hedge fund to bankruptcy, to becoming a Meme CX master, and then having his wallet address exposed, suspected of being a "butt decides the head" type of person who calls others to get on board…
We have gathered more information to help you quickly understand the past and present of the new signal king.
Learning Chinese, Originating from OKcoin
Initially, Murad was not a person from the crypto circle.
He grew up in Azerbaijan, moved to the United States at 16 to study, and later attended Princeton University; the beginning of his story is similar to that of many young people who come to study with the American dream.
Interestingly, according to an exclusive interview with Blockworks, Murad revealed that during this period, he began learning Chinese and French.
It was also because of learning Chinese that he had the opportunity to stay in China for a year.
That year, Murad was 17; and that year was 2013 ---- Bitcoin experienced its largest annual increase to date, nearly 6000%.
At the same time, seasoned investors surely know that year was undoubtedly the center of the crypto world, as awareness of mining and Bitcoin gradually heated up in China. In such an environment, Murad, in his own words during the interview, said:
“I was in the right place at the right time.”
In the foreigner circle in Beijing, Murad met the fifth employee of OKcoin, an American, and began to learn about cryptocurrencies from him.
And OKcoin is the predecessor of what is now OKX.
Clearly, Murad was exposed to the crypto world relatively early; the "right time" he mentioned carries another layer of meaning ---- he learned about crypto in China before the historic crash in 2017, which had a significant impact on his later life, views, and work.
Afterward, Murad joined Goldman Sachs and became an advisor, but his early experiences deepened his understanding of BTC as a store of value.
Let’s not forget, at that time, Meme coins were not yet rampant, and the old consensus of "Bitcoin, Litecoin, Silver" was unbreakable.
Thus, Murad initially belonged to the Bitcoin cult rather than the Meme cult.
Starting a Fund, Blown Up During the Pandemic
The turning point of fate came in 2017.
Although the entire crypto world was in turmoil due to the "94 incident," Murad founded Adaptive Capital that same year, a smaller crypto hedge fund.
If you search for images on search engines, you can still find promotional pages for the company; Murad was responsible for investment and trading-related positions there, which, if not taken too seriously, looks like the so-called "trader."
Being on the front lines, Murad undoubtedly accumulated a lot of trading and market observation experience.
But those who walk by the river often get their shoes wet. Moreover, in the perilous waters of crypto, where emotions are intangible and market shifts can happen faster than the weather changes.
In 2020, the COVID-19 pandemic swept the globe, and the international situation changed dramatically.
At the same time, the crypto market also experienced wild fluctuations. On March 13 of that year, after Bitcoin's price fell by more than $1,000, Murad's Adaptive Capital suffered a huge blow. The company sent an open letter to all investors, informing them that the fund would close and that it planned to return the remaining capital to its limited partners.
Adaptive Capital attributed this to CEX halting services during the price crash, which prevented timely position management, leading to liquidation:
“We used some reputable exchanges daily, but these platforms and tools stopped operating during the sell-off, severely hindering our ability to take appropriate action.”
In the words of retail investors, this is a classic case of exchanges "pulling the plug."
The right and wrong of the situation are hard to determine, but as the trading and investment head of this fund, Murad was clearly impacted by the "pulling the plug" incident, perhaps laying the groundwork for his later search for opportunities in on-chain Meme coins.
Super Cycle, Instant Fame
In 2022, Murad became more active on social media, posting that "I am back."
He firmly believes that this industry will absorb more capital and considers the bear market the best time to plan for the next bull market.
It was also around this time that different Memes began to emerge, and Murad took notice of them.
The subsequent story is well-known; the long-haired guy stood on the stage of 2049 and began his passionate speech on the "memecoin Supercycle," igniting widespread viewing and discussion in the crypto community.
Before this, Murad's story was not widely known. But as the saying goes, "Those who provide emotional value will surely attract attention." Murad's statements during the speech earned him extraordinary popularity, such as claiming that MEME will reach a market cap of one trillion dollars and that Bitcoin's price will soar to 200 trillion dollars in 20 years.
In this cycle where Meme coins are rampant, with new Memes constantly entering the top 50 by market cap, Murad's super cycle speech provided legitimacy and rationale for every Meme player holding their positions, and he was not merely calling for action.
For instance, he characterized most crypto tokens in a slightly academic yet easily understandable manner --- if a token is neither a store of value nor distributes income, then it is a Memecoin.
To borrow the words of Twitter user @0xWendy99:
“What sets this Princeton guy apart is that his 'orthodoxy' is much stronger than Ansem's; he speaks with a sense of formality, 'tokenized community,' 'token is the product,' memes are no longer subordinate or out of touch, using theory to guide memes, using systems to drive speculation, making retail investors feel sophisticated and institutions feel justified.”
With early trading experience and strong theoretical CX skills, Murad became famous in the super cycle with just one speech.
High Places Are Cold, Butt Decides the Head?
With fame comes controversy, and Murad is no exception.
After rapidly rising to fame, Murad often calls for action and analyzes the quality and investment potential of various Memes.
This has led to ongoing suspicions about whether Murad's steadfastness as a Meme bull is driven by profit motives and whether he is calling for action to offload his positions.
Notable on-chain detective ZachXBT certainly did not miss this opportunity and recently uncovered 11 wallet addresses suspected to be highly associated with Murad, which hold a total value of about 24 million dollars in Meme coins on Ethereum and Solana.
Data shows that some of these addresses purchased large amounts of the Meme coin SPX between June and August, achieving over 60 times returns within four months; this aligns with Murad's publicly posted recommendations for Meme coins:
However, a classic saying in the crypto world goes:
It’s very foolish to buy a coin and not go to CX.
Murad bought and went to CX, which in some ways can be seen as aligning knowledge with action; whether it is a conspiracy to buy first and then call retail investors to get on board or a pure belief in the Meme cult that he wants everyone to believe in is a matter of perspective.
Currently, the community is engaged in heated debates regarding the detective's exposure of Murad's holding addresses.
Some Twitter users believe that ZachXBT's actions can prevent followers from being dumped on; the project leader of the Solana tool Sol Incinerator, Slorg, questioned, "Do you really think these things are hidden?" implying that this information is public and thus not surprising to uncover.
However, voices opposing the exposure of such information are also numerous:
Udi Wertheimer, co-founder of Taproots Wizards, stated that publicly seizing someone's wallet to prevent potential illegal activities is madness; some users also disapprove of prematurely "targeting" Murad, especially when he hasn't done anything wrong.
Buying and selling tokens, engaging in trading, is not inherently lawless;
However, high places are cold. When a CX bull suddenly gains a large amount of traffic and potential influence, people will inevitably target him, placing him under a microscope to extract more information.
Whether for their own traffic and popularity or to uphold justice against insider trading, being famous inevitably brings controversy, and high places are naturally cold.
We cannot conclude whether Murad is merely a die-hard bull or a master manipulating retail investors, but he himself mentioned in an interview: “For certain tokens, I will definitely sell some by the end of 2025 or early 2026… but for other coins, I plan to hold long-term to ride out the cycle.”
As the saying goes, "Peaks generate false support, while dusk witnesses devout followers."
After a super cycle, whether the newly crowned signal king Murad holds Meme or BTC will naturally be revealed with time.
Appendix: Wallet addresses highly associated with Murad released by on-chain detectives
ETH
0x6b411100c72ba2445e50ffd20839c28b3546de7c
0xcbd0dee0c3eed152c3398b062361becc4a15522b
0x13fc38ec99a8217a06d1dc6db8c0bf0ee97ebf7f
0x71b4fd11eef705ba60176e7c034cd1a4f97ae02d
0x30b46a659761b576a00028b44d1e37fdc64b034d
0x5b1569db234a0f2884814a3f7184f01cf641b0c6
0x464e0a666734ba93e231d929ace538eaf05ff424
0xdb47714727cba70f0408ba30dc4ea0b5ac436055
SOL
7QZGS7MQ4S6hRmE8iXoFTXgQ2hXVUCho2ZhgeWvLNPZT
GyBkVYkHBPMapyQeueQ6d44YthwqYiX4ajgnGLqq9P7r
2xn57hPD2v6ighJFPXNPSoiGUXkW4KKo8Hb3NpXmHZvZ
Monitoring Dashboard:
https://dune.com/0xtoolman/murad-buys-and-sells
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