The Daily Edge 2.2.2024

chainEDGE 3.0 Is Here

chainEDGE 3.0 Is Live

Lots of red today in the market, so will briefly just touch on the recent upgrade of chainEDGE, the smart money data and trading terminal I’ve been building. We’ve added a lot of cool features, a new UI and enhanced actionability around changes in holdings data. We’ll be adding Solana data support to the site by March as well, perfect for the hyper active degens. We don’t do trials, but if you try it for a month and are not satisfied, we will refund you.

Solana memes got crushed today (not sure why), with HODL down 82%, WEN down 20%, MYRO down 41% and AMC down 35%. From a pure volume perspective, Solana is still dominating the degen volume market, with 4x more volume than ETH over the past 2 days.

 

WHAT TO WATCH TODAY

  • ZETA recently launched its mainnet beta and has already climbed to a $3.5bn FDV / $394mm market cap. The L1 already secured listings on CEXs like Coinbase and has kicked off its points or “XP” system which is live for 30 days. I’ve seen some active degens posting about memecoins on the chain as well, so could be worth checking out

  • TREST token went live today and has been trading somewhat weak compared to other recent LBP INS. This project was covered in our original Daily Edge Issue at a $21mm FDV (vs. $30mm currently), and is a first mover for TIA bridging

  • OXSCANS - AI Auditing project launched yesterday. This was a very hyped (and contested) launch, running immediately to a $7-8mm market cap. They have announced a lot of integrations so far (like 50)

  • PANDORA - this project launched early this morning, and is “the first token built on the ERC404 token standard”. Somewhat similar to EMERALD, Pandora integrates tokens and NFTs into one. As a first mover, this gained a lot of smart money attention, with $285k of smart buys since launching.

  • CHECK - In a sea of red, CHECK or Avax Recruitment Agency has held up well. This project was covered yesterday and overnight I saw a lot of interesting wallets bridge over to Avax to “get a job”

  • PENDLE - while nowhere near new, the momentum and strength of PENDLE cannot be ignored. The project has gained $680mm of TVL driven in part by its recently launched restaking product and its token price has been up only.

THINGS TO KEEP ON YOUR RADAR

  • IX - cross chain swap and bridge gateway powered by Oasis, with a TGE and launch scheduled for February 4th

  • OPAL / GEM - LST omnipool project for veDEXes. This project raised $1.6mm in its LBP which closed at a $3mm market cap / $27mm FDV. Its going to start its “liquidity flywheel” with the Balancer ecosystem, which has $330mm of LST TVL.

  • BEFI - Apeterminal IDO and very hyped launch is expected around February 4th. BeFi is an impressive BRC20 trading terminal

  • Bribelytics - looks like a pretty cool sniper analytics tool. Has been picking up some smart follows (limited info so far).

  • Sleek Labs - SocialFi products, backed by Binance, that will be launching its first product in the next few weeks

  • SAX Trade - Project that lets you speculate on culture and trends, launching soon on Blast. It allows you to mint Twitter cashtag trends as ERC20s, where its price moves along a bonding curve.

SMART MONEY CORNER - Powered by chainEDGE

  • Notable inflows today into TRESTLE (+119k) and INS ($11k). Outside of that mostly sell side flows, with PANDORA leading the way with $72k of net outflows and SAVM with $28k

  • AI coins continue to see smart money accumulation, with 7 day balances up for OLAS (+13%), AGRS (+70%), TAO (+35%) and MND (+6%).

  • INS has quickly become a smart money favorite, with $610k of smart holdings across 20 wallets

  • From a new launch perspective, TRESTLE, PANDORA and PORKTOSHI have all seen a lot of smart money volume, with TRESTLE retaining $190k of smart holdings thus far

  • Today we’re spotlighting a CE smart money wallet that has generated nearly $1mm in realized PnL in the past 6 months. This wallet generates their PnL by buying tokens between 20 minutes and 24 hours old, printing recent wins in SAVM ($83k) and PEAS ($45k). Their biggest current positions are SECT and ORDS, with some recent degen plays on PANDORA and very degen new launch GetCherry.ai Sign up for chainEDGE today to dive into their current movements.

MEME OF THE DAY
Credit to @ActuallyAgents

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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.