Animal Coins Are Back

Mantle & COOK

The mETH protocol which launched in November 2023 has quickly grown to become the 4th largest ETH LST with a peak TVL of $1.74bn. Following the success of mETH, the Mantle ecosystem will be launching cmETH (liquid restaking token) and COOK (governance token). This is the first ETH LRT that is backed by an entire ecosystem and a sizable treasury. $cmETH removes the complexity found in restaking and allows users to have a seamless yield bearing experience without the hassle of moving their LRTs around. The COOK TGE will be here very very soon as well 🍳

Animal Coins Are Back

BTC is up 2% in the last 24hr and has broken past $69.3k. ETH was up 4% while SOL was up 6%. APE was the top outperformer in the top 100 after the launch of ApeChain. Other top 100 strength was seen in Dydx, MOG, JUP, POPCAT and FTM. On the week it was a pretty similar list of outperformers, but also included DOGE, MEW, PENDLE, BEAM, ENA and BONK.

In the onchain market, FUD around GOAT’s AI typos (plus going straight up to $500mm+) has led to a sharp sell off by ~50% from the peak. GNON (the best beta imo) also fell 55% in the last 24hr. Overall on the week, memes were far and away the best performers, led by top 7d price increases in:

• KEYDOG

• SPEEDY

• KLAUS

• OSCAR

• SDOGE

• WYAC

• GOAT

• DOGE

• DOLAN

In the last 24hrs, we’ve seen animal coins finally catch a bid again, led by strength in Dog, Kabosu and SPEEDY:

• FART

• Dog

• Kabosu

• APE

• DEEP

• SPEEDY

• Supercycle

• SPX

• MEDUSA

• chud

Onchain mindshare (which now excludes GOAT due to it having perp markets) is still being led by AI memes, including GNON, ACT, FAR and CCRU.

DEX bot trading volumes saw a decent spike to over $200mm yesterday, led primarily by SOL.

0-5d old tokens with $100k+ of smart holdings was led by GNON, but there were many others:

Interesting projects getting smart follows:

• terminalofnations

• nation of nexaria

• Ape Express

• Azura

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.

SMART MONEY CORNER - Presented by chainEDGE

• Switching things up a bit today. Looking at just smart buyside flows over the last week, some notable coins are signaled including SLERF, GNON, MOODENG, SPX, michi, TURBO, Daram, WAP, BOME, CCRU and CB.

MEME OF THE DAY