👑 $81,000 BTC

Mantle is COOKing

Mantle’s $COOK is up ~100% since launching around a week ago. And seems undervalued with an FDV of just $174mm vs. peers like LDO, RPL and Renzo. As a reminder, cmETH allows users to capture rewards across Eigen, Karak and Symbiotic, while earning yields from staking along with COOK rewards. That is 3 layers of earnings from one single product!

$81,000 BTC

One of the best weekend in crypto (and especally for alts) in a long time. BTC traded up to $81k and change this evening while ETH & SOL were more quiet up ~2% to $3,200 / $210. MOODENG has been on an absolute tear running from $140mm to $420mm while GOAT is very close to crossing past $1bn. This is the highest BTC has ever hit (even on an inflation adjusted basis) and the real moves in alts likely have barely even started.

Top 100 strength on the day was seen primarily in memes and was led by DOGE, FLOKI, CRO, WIF, STX, SHIB and GOAT. And 7d leaders simiarly were led by NEIRO, DOGE, ADA and GOAT.

Coinbase app store rankings are essentially back to March of this year’s peak, so retail is obviously on its way back, with the app hitting the top 10 finance app category today.

Onchain has primarily been led by massive moves in AI memes following the strength in GOAT. Fartcoin surged past $100mm as did Zerebro, with most other “beta” plays easily hitting $10mm. AI memes were mostly down on the day however, led by weakness in CHAOS, YOUSIM, SHEGEN and WORM. This weekend’s big runner was pippin which ripped straight to $32mm (now $22mm). Onchain strength on the day was led by non-AI memes including:

• pippin

• jorkin

• Pochita

• SHRUB

• HAPPY

• BUU

• COK

• aura

• coby

• OMEGA

• PESTO

• Pnut

pippin is also currently the onchain mindshare leader behind base AI coin LUM. Outside of pippin, attention is currently quite fragmented across eth & SOL memes.

0-5d old tokens with $100k+ of smart ownership included SBR, LUM, pippin and TDS.

Interesting accounts getting smart follows:

• Kiru

• something

• OpenServ

• Cupsey

• Somewhere Systems

• Futarchy

In Partnership with Infinit

Earlier in this piece we talked about COOK and its undervaluation, but did you know you can farm both COOL and the Infinit airdrop in one single strategy? Using a combination of Infinit, Mantle and Ethena, you could make 50%+ APRs using this strategy (which is detailed here).

SMART MONEY CORNER - Presented by chainEDGE

• SOL smart money was seen bidding SLERF, Fartcoin and Shoggoth on the day

• GOAT, Zerebro and Fartcoin are currently the AI meme smart money favorites

• On ETH, smart money was seen bidding DOGE, DOG, ELON and JOE

• While balances on SHURB have surged to the top 3 excl some blacklisted PEPE and LADYS positions

MEME OF THE DAY