Alts Bouncing..

..are we back?

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Alts Bouncing..

Obviously it’s too early to say we’re back but alts are actually bouncing after the recent flush. Within the top 100, MKR, IP, TIA, QNT, IMX, BERA, ENA and HYPE were all up double digits with broader OTHERS up 8% since the bottom. BTC dominance shed 100bps from its highs again to 61% with BTC slipping down to $85k before bouncing back to $89k. Now for some hopium - this setup has some similarities to the kickoff of the 2021 alt szn pictured below.

Onchain still looks quite dead (which usually tracks pretty well to number of pump coins bonded per day). I think the market got exhausted from the max extraction phase and there’s now only 4 pumpfun coins above $100mm (Fartcoin, arc, act and pnut). With NVDA earnings tomorrow and Meta announcing a $200bn AI project, maybe we pivot back to AI szn? Other notable news on the day was the SEC dropping its investigation into Uniswap.

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While the trenches are still quite dry, existing onchain coins (including Kanye’s coin) caught a bid today. DOGEAI, ANGLERFISH and COLLAT were the other big movers on the day.

arc, UFD and DOGEAI led onchain mindshare and were the largest attention gainers on the day.

TG trench trading volumes continue their down only trend, hitting $66mm today (the lowest since summer of 2024). Again, when sustainably bottoms out, onchain usually gets much more interesting.

Interesting accounts getting smart follows:

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  • Pretty limited day of smart $ movements, but its notable that some brave souls have kept bags in the following tokens despite the brutal price action:

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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. The author may also have positions in the tokens mentioned in the content, so please do your own research.