DeSci Szn

Mantle / cmETH

Mantle’s staking product continues to crush it, with TVL climbing past 100,000 cmETH. With cmETH, you can earn staking yields, restaking yields from Eigen, Symbiotic, Karak, Veda, and on top users receive COOK rewards. Learn more at https://meth.mantle.xyz/restake

DeSci Szn

It was a bit of a choppy trading day with BTC & SOL essentially flat, while ETH showed a tiny amount of strength. The meme majors were down ~5% while most onchain memes fell 15-20%. Saylor announced MSTR bought another 51k BTC while Trump is meeting with Coinbase CEO Brian Armstrong + is looking to buy a crypto exchange, Bakkt. Binance listed perps for Ban, with the token doubling on the announcement. And top 100 coin strength was seen in more random names like XTZ, HBAR, AKT, KAS, KAIA and THETA.

Top 100 7d winners were still led by PNUT, but memes have taken a back seat to some newer runners like OM, HBAR, retail favorite XLM and XRP.

From an overall CT mindshare perspective, DOGE & PEPE are back above BONK, while Zerebro, Fartcoin, FWOG and ai16z were notable attention gainers.

Chart of the Day with Vertex

1 ONDO = 1 CONDO? ONDO is starting to show some strength again and the chart looks pretty good + RWA coins are making a comeback. At app.vertexprotocol.com you can trade ONDO with up to 10x leverage.

The onchain markets currently are all about DeSci which has had 3 major runners with RIF ($192mm), URO ($101mm) and Scihub ($30mm). Additionally BAKKT on SOL was the runner of the day, which traded up to $35mm so far on the Trump buying Bakkt news. GOAT and AI coins in general were down, but there was some strength in smaller betas like Worm and AVB. Faze Banks also bought some GOAT & Zerebro and shilled it, so there is still broader interest in the meta.

There were tons of onchain coins that showed strength on the day (excl new launches), so many that I’m just going to paste the screenshot below. Personally interesting names to me include URO, Chillguy, eliza, MATL, blormmy, RIF and vvaifu.

Onchain metrics across the board are all basically at peaks. DEX bot trading volume (ex Photon, Bullx) hit $400mm, while Photon itself did $300mm on the day. Moonshot is onboarding 1k new users daily, and nearly hit its peak usage again today.

Onchain mindshare was focused on DeSci (RIF, URO), eliza, BAAKT and vvaifu, which were all large attention gainers on the day.

Interesting accounts getting smart follows:

• AI Combinator

• FloweyQuant

• aixbt

• higherrrrr.fun

In Partnership with $IO

While we’ve all been gambling on memes, $IO continues to ride one of the largest megatrends in the world: compute demand. This + $IO’s goated BD team has helped to push daily network earnings to ATHs (with it more than doubling in November).

SMART MONEY CORNER - Presented by chainEDGE

• SOL smart bids were seen in SLERF, RIZO, CRIS, WORM, KIRBY and URO throughout the day

• While by number of $10k+ smart holders, BUCK remains a favorite despite its tough drawdown + LUCE leading and vvaifu a close #4.

• EVM coins with smart buying on the day included DOGE, SHRUB, VIRTUAL and BOOE

• While balance trends looked pretty weak outside of SBR

MEME OF THE DAY