$500mm Long Liquidations, BTC -5%

In Partnership with $IO

The explosion in AI agents has really started to produce some silly results from $IO and its network. The protocol just hit ATHs of $66k daily earnings earlier this week and is running at a $20mm+ ARR, putting it at a top 4 position in all of DePin.

$500mm Long Liquidations, BTC -5%

Blood in the water! BTC slipped over 5% on the day down to ~$97k while alts really got beat up. The market as a whole saw $500mm of long liquidations, the largest since mid- December. BGB was the only top 100 coin that was green while the worst performers included PENGU, DYDX, GALA, ENA and BONK which were all down 12%+. BTC dominance is making its (potentially) final push, adding 100bps to 58% in the last few days.

Trump is trying to buy Greenland, Gensler is leaving the SEC in 2 weeks and DEX volumes have hit their highest level vs. CEX volumes ever this month at 20% (which is a pretty wild stat).

Chart of the Day with Vertex

Lose this level or its lights out. GOAT has been down only for awhile and is now sitting at a key support level. Short it to zero or play for a bounce with app.vertexprotocol.com today and trade GOAT with up to 10x leverage.

Most onchain coins were down double digits on the day, led by weakness in Butthole, PYTHIA, REI, YNE, VVAIFU, and PIPPIN which were all down 22%+. Still plenty of pockets of strength though, with strong coins up 30%+ including CITADAIL, BUZZ, NEUR, BUILD, TETSUO, GRIFT, UBC and nub (first time I’ve seen an older onchain meme show some strength tbh).

While people wait for “alt szn”, things continue to be pretty damn silly onchain (and we can only hope it gets sillier). swarms hit $500mm, MLG ran from $2m to $150mm just this year and there’s plenty of other examples of coins going from nothing to $100mm+, which is honestly crazier than most parts of 2021 (and it’s just harder to trade vs. then given the sheer amount of tokens). swarms, MLG and ai16z were chainEDGE onchain mindshare leaders on the day, with most newer AI coins seeing rising attention in the past 24hr.

It’s also no surprise that onchain continues to draw more gamblers in. This is arguably the best market we’ve seen onchain, which is actually making people millions of dollars (each of our top 50 chainEDGE smart wallets have 7 figures of realized PnL now, for example).

Despite the softer price action, TG trading bot volumes still looking very strong at nearly $300mm the past few days, with ETH actually making a small comeback.

0-5d old tokens with $200k+ of smart balances includes the below and was led by GNZ and HYPER.

Interesting accounts getting smart follows:

• Dev.fun

• Monadic DNA

• Snuzyn

• Victor

• AIMonica DAO

• Conjure AI

Mantle Momentum

Mantle was the top performing Alt-DA Ethereum L2 in December according to VanEck, with 12m total transactions and $1.4bn of DEX volumes. The Mantle chads also seem to be cooking something up with funny money 🤓

SMART MONEY CORNER - Presented by chainEDGE

• Tinto, GNZ, swarms and Fartcoin led smart money buying on the day

• Smart balances continued to be position more towards newer coin gambles, with non-new launch bags in arc, PENGU, zerebro, Fartcoin and nub.

MEME OF THE DAY