Are We Back?

In Partnership with Vector/Kernel

Vector announced its product pivot, aiming to unlock hundreds of millions of liquidity with the first Karak native liquid restaking suite. With Karak increasingly taking mind share away from EigenLayer, Vector’s first to market position should be advantageous. Vector will be rebranding to Kernel Protocol (and the token will be migrated to KERN). Additionally, in the next few weeks the team plans to bring its product to market.

Are We Back?

Today’s CPI came in soft sending markets higher, with BTC up to $66k, ETH to $3k and SOL back above $160. Memestonks traded down with GME and AMC both down ~20% during the day. Positive BTC ETF inflows are also back on the timeline. While I’m no chartist, it sure looks like Total3 is looking sendy and our short period of onchain despair could be coming to an end.

Onchain coins bounced across the board, with abnormal strength primarily in memes (with some AI) including:

•  COST

• PUPS

• MUMU

• PAJAMAS

• SPX

• BRETT

• boden

• USA

• FRIEND

• GPU

• MOG

• DMT

Measured by daily TG trading volumes, Base has been bleeding out, down to just $4mm daily which is back to mid March levels (before Base really was heating up). ETH on the other hand has started its comeback while SOL continues to dominate.

Here are the most interesting new projects getting smart attention (without tokens):

• Solayer

• Shogun

• Nexify

• S33R

• Meme.trade

• Symbiotic

• Theoriq

• Sundial

• Aloha

• NutUp

• lmaodotfun

• 0xbowio

• Summoning

• Cosmic

• Venice

• Infinex points program started

• Zest

The Internet of GPUs

"I think compute is going be the currency of the future. I think it will be maybe the most precious commodity in the world." - Sam Altman

Io.net is a GPU aggregation network that is attacking the growing gap between compute supply and demand. The project was recently mentioned in a Forbes article about the intersection of GPU compute bottlenecks and the need for decentralization, where IO fits perfectly

SMART MONEY CORNER - Presented by chainEDGE

• AI & Memes. Top inflows over the past 24hr from EVM smart money included COMAI, PRIME, MOG, QUIL and FLOKI

• SOL smart bids were seen in MANEKI, SLERF, POPCAT, SC and new launch WUKONG. GME dominated outflows with $700k followed by boden and new launch TOBI

• On the day, nub, PUPS and USA saw incremental smart balance increases while GME notably saw a 50% decline. MICHI is now far and away the leader by $ held at $17mm

• Less bullish action on the EVM smart holdings side with position trimming in most core tokens. OPSEC and DEAI were outliers within this conviction list while sharp/abnormal accumulation was seen in APU, COMAI, IXS and DEGEN over the past 7d.

MEME OF THE DAY