Daddy's Market

In Partnership with Io.net

The Internet of GPUs continues to grow at an accelerating pace, with verified GPUs on the network up 4% vs. yesterday, growing to nearly 136k. We laid out our reasoning on why the $IO launch was slated to be a strong one in our recent thread here. Check out this awesome research piece titled Compute is the New Oil:

Daddy’s Market

In a sea of red, Tate’s DADDY token continued to dominate onchain attention today, tapping ATHs again. BTC & ETH traded down ~2% with most alts falling further. Mich finally got liquidated on his $37mm CRV position, while the market as a whole saw $140mm+ of liquidations today.

The ETH ETF S1 is expected to be approved sometime this summer according to the SEC, but the crypto markets in general have lost their momentum. Onchain tokens also look quite bleak, outside of a few tokens like DADDY and BANANA. Attention leaders today were DADDY, GENIE, MOTHER, BOBO, PEIPEI and BANANA. Within this top of the attention funnel, BOBO, PEIPEI and BANANA were attention share gainers for the day.

Despite overall down only price movement for most onchain coins, TG daily trading volumes continue to trend up (with SOL & BASE retaking relative share today).

Other things to watch at the moment include:

• BANANA hitting ATHs

• DADDY tapped $300m again

• PIRATE new gaming launch

• Uwu attacked again

• QTC recent new launch

• TAP LBP just ended with over $8mm raised

• TON continuing to show relative strength vs. the market

Newer tokens with $100k+ smart money bags includes: PEIPEI, BIAO, RCH, MAGAA, NORMIE, MICKEY, GURU and KANJI along with Sphynx, RNT and DADDY on SOL.

Onchain relative strength was seen in just a few tokens throughout the day:

• GENIE

• FELON

• TOKU

• YOLO

• DADDY 

Some interesting new projects getting smart attention (without tokens):

• Milady Presale

• Nuffle

• Luma

• Symbiotic

• B3

• QIO

• FOMO

• memechan

• SchellingAI

• Lombard

• Azura

• Wen Markets

• NavyAI

• Wara

• Obsidian

4 Days to Go Until Kernel Protocol Launch

Attention is clearly shifting towards Karak in terms of restaking mindshare and it hovering around $1bn in TVL. Kernel Protocol will be first to market with a suite of Karak-native LRTs including ksETH, krETH and kUSD, which will be launched on 6/17.

SMART MONEY CORNER - Presented by chainEDGE

• Smart money’s favorite launches of the day were MOGE (which died) and QTC, with each project getting $175k of buys. In general, EVM side activity was mostly small gamble positions throughout the day

• SOL smart flows were stronger, with interesting buys into GENIE, POPCAT and TRUMP

• POPCAT looks to be the most notable “accumulated by smart money” token from a dollars held perspective over the past 7 days. While from a % accumulation perspective, mini and sphynx look the most promising.

• BASE coins starting to take up meaningful share of top 10 tokens held by smart $, led by DEGEN, KEYCAT, BENJI and TOSHI.

MEME OF THE DAY