...Are we Back?

...Are we Back?

BTC/ETH/SOL all up 3% today, with a much bigger bounce in alts led by XAI and TAO which were both up 15%. Limited news flow today, with German BTC balances and this week’s CPI report top of mind.

Other CEX alts with notable bounces included SEI, TIA, JUP, IO and BONK. With BONK seeing the biggest 1d bounce in attention.

In the onchain world, BILLY still holds the top attention spot, but has been on a downtrend since July 6th. The most notable attention gainers (and the tokens to watch) were LOCKIN (again), RETARDIO, SPIKE, WAT and MUMU.

Despite the bounce in larger cap AI coins, relative strength today was seen across both ETH & SOL memes, including:

• WAT

• SPIKE

• RETARDIO

• LANDLORD

• boden

• SPX

• MUMU

• JOE

DEX bot trading volumes are still trending down, but are up a lot YoY. SOL dominance rose to a 6 week high of 76% on 7/6 but has settled back to 72% as of yesterday.

SOL coins with notable smart $ accumulation include LOCKIN (the most extreme example at +101%), MUMU, RETARDIO, WOLF, HARAMBE and MOTION.

Interesting new projects getting smart follows:

• Valhalla

• Kingdom

• Pluralis

• GameCoin

• nucade

• 0xequity

• The Grand Exchange

• Hyperlend

• TON Hedge

• Morphic

• HappyChain

SMART MONEY CORNER - Presented by chainEDGE

• The EVM side of things has felt like a bear market since April, with smart money volumes seemingly agreeing. Smart $ activity on ETH has been down only since the brief spike in early June, with daily volumes in-line with the May lows.

• SOL smart money was seen buying MEW, MICHI and RETARDIO today, with $137k as the outlier for MEW

• BILLY continues to retain its top spot in terms of smart $ held at nearly $5mm, and is also seeing continued accumulation. Only DADDY, MEW and boden saw 7d accumulation at the top end of the balance sheet

MEME OF THE DAY