Share this article
TFW No More Up Only
A sing-along to the tune of The Police's 1978 classic "So Lonely."
By Brady Dale
Updated Sep 14, 2021, 12:59 p.m. Published May 21, 2021, 5:57 p.m.
Make us preferred on Google
These are bullish days in crypto.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Well, they were. This week's wild sell-offs allow a moment of space to look back on a heady yesterday when many felt the good times would never have a hiccup again.
This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here.
On May 3, amid the gains, MakerDAO Foundation alum Mariano Conti tweeted out the following challenge:
When do we commission a cover of The Police's So Lonely, but with Up Only? @CryptoCobain
— mariano.eth ✨ᕙ༼🐶༽ᕗ✨ | 🦇🔊 (@nanexcool) May 3, 2021
Challenge accepted.
For younger readers, The Police were a great 1980s band that launched the legend of the great solo act known as Sting. One of the band's classic songs is 1978's "So Lonely." Most of the lyrics of "So Lonely" consist of crooning "so lonely" over and over with various vocal and guitar rejoinders.
But it does have two proper verses. Revised for crypto, those were more than enough to evoke the spirit of these times. It will require other talents than those I was bequeathed, I'm afraid, to turn this into a recorded track.
Until the charts see green again, here's a tune meant to evoke optimistic days:
'Up Only'
Someone told me yesterday
That when you sell your ETH for gains
It's just like saving for a rainy day
Locking in your savvy ways
But I can see the coming flip
DeFi making TradFi trip
And all my artsy NFTs
Disrupting hipster snobbery
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Now Bitcoin's losing dominance
And Vitalik's taking prominence
I've twelve and twenty staked on 2*
For when devs say that 1 is through
Taking gains at 8%
Unless I have slash event
You give your heart, I run my node
It proves my stake will not erode
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only
Up only (I see it)
Up only (I see it)
Up only (I feel)
Gotta hold, gotta hold
It's gonna go!
Up only
Up only
Up only
Up only
Up only
Only, ETH's only
Up only
Up only
Up only
Up only
Up only
Holding only!
Up only
Up only
Up only
I see it!
Up only
I hold
I hold
I hold hold hold
I hold hold hold
I hold
I hold
I hold hold hold
It's up only
Up only
I'm gonna hold
Hold only
Up only
I only hold
I only hold
Up only (I'm holdin')
Up only (I'm holdin')
Up only (I'm holdin')
Up only (I'm holdin')
Up only (I'm holdin')
Up only (I'm holdin')
* Running an Ethereum 2.0 validator requires a minimum of 32 ETH to run. Ethereum 1.0 used proof-of-work, not proof-of-stake. At first the old chain will run as a part of Ethereum 2.0 but many expect it to someday wind down.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
