AI Memes Are Back

In Partnership with $IO

$IO continues its momentum on demand side partnerships, this time with ParallelAI. Notably, $IO has now hit its highest daily network GMV at over $24k in each of the last 5 days.

AI Memes Are Back

Softer day for the majors / top 100 alts. BTC was down 2% to $67.5k while ETH slipped 3% and SOL 1%. Notably SOLETH continues to absolutely send, hitting ATHs of 0.063. The strongest top 100 coins on the day were APT, MEW, AXL, ATOM and UNI. While the biggest laggards were ENA, TAO, WIF, AERO and MOG. Alt mindshare was led by APE and DOGE, with MEW also catching some steam today.

Today marked the 6th straight trading day of $200mm+ of BTC ETF flows.

Onchain does not care about the BTC dip however, with the AI meme meta returning to full strength. GOAT nearly doubled on the day back to $450mm while GNON also doubled to $100mm. The strongest onchain coins on the day were also primarily AI meme coins, including:

• Shoggoth

• ACT

• LUNA

• GMIKA

• CATGF

• CLAUDIUS

• FLOYDAI

• Fartcoin

• LOOK

• FOREST

GOAT is obviously the largest mindshare coin at the moment (but is excluded from the below due to having small perp markets). Slop, GNON and ACT were the other primary onchain only mindshare leaders on the day.

DEX bot trading volumes are still as strong as ever, nearly hitting $200mm again today. And Photon in specific had its 2nd best volume day since March today.

0-5d old projects with $100k+ of smart ownership included JANET on ETH, along with the below coins. A member of the chainEDGE community did a detailed breakdown of performance using this metric which has been very profitable so far.

Interesting projects getting smart follows:

• Terminal of Fun

• Contribo

FPS to Watch: Contango

The Fixed Price Sale (FPS) for Contango went live today. As a refresher, Contango is a DeFi protocol that lets users loop anything onchain. In less than a year they have hit $3.4bn of volume with open interest near ATHs of $350mm. Contango already raised $4.5M at the same $45M valuation as the strategic round in December 2021 from 40+ notable investors such as Parafi, Coinbase Ventures and Spartan. Learn more about Contango and its LBP here.

SMART MONEY CORNER - Presented by chainEDGE

• Smart money has been net buyers of some notable coins over the last 7d including degenai, Daram, CCRU, JAG, Kiri and supercycle.

MEME OF THE DAY